The Lovesac Company reported second quarter fiscal 2027 results ending August 2, 2026, achieving net sales of $161.2 million, a 0.4% increase from the prior year period. The company recorded net income of $7.4 million, or $0.51 per diluted share, compared to a net loss of $6.7 million in the same quarter last year. This turnaround was primarily driven by $21.0 million in IEEPA tariff refunds and related interest, which boosted gross margin by 1,200 basis points to 68.4%. Excluding these one-time recoveries, gross margin declined 40 basis points to 56.0% due to higher transportation costs and promotional discounting. The company ended the quarter with $68.8 million in cash and no debt. For full-year fiscal 2027, Lovesac expects net sales between $690 million and $710 million and diluted EPS of $0.98 to $1.26. The Lovesac Company designs, manufactures, and sells modular furniture and home technology products.

The Lovesac Company appointed Andrew Farag to the roles of Executive Vice President, Chief Financial Officer, and Treasurer, effective June 15, 2026. Concurrently, Keith Siegner resigned from his position as CFO and Treasurer, effective June 15, 2026, with a transition to a non-executive role ending June 22, 2026. Farag's compensation package includes a $560,000 base salary, a target 70% annual incentive, and a $255,000 signing bonus. Lovesac Co is a furniture and home decor company that sells modular seating and furniture systems.

The Lovesac Company announced its first quarter fiscal year 2027 financial results for the period ending May 3, 2026. The filing is an announcement of quarterly earnings guidance/results. Lovesac Co is a retailer of furniture and home decor products.