{"id":794444,"date":"2024-12-12T07:05:26","date_gmt":"2024-12-12T12:05:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-lovesac-company-reports-third-quarter-fiscal-2025-financial-results\/"},"modified":"2024-12-12T07:05:26","modified_gmt":"2024-12-12T12:05:26","slug":"the-lovesac-company-reports-third-quarter-fiscal-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-lovesac-company-reports-third-quarter-fiscal-2025-financial-results\/","title":{"rendered":"The Lovesac Company Reports Third Quarter Fiscal 2025 Financial Results"},"content":{"rendered":"

\nQ3 FY25 Net Sales of $149.9 Million
\n<\/h2>\n
\n

STAMFORD, Conn., Dec. 12, 2024 (GLOBE NEWSWIRE) — The Lovesac Company (Nasdaq: LOVE) (\u201cLovesac\u201d or the \u201cCompany\u201d), the home furnishing brand best known for its Sactionals, The World’s Most Adaptable Couch, today announced financial results for the third quarter of fiscal 2025, which ended November\u00a03, 2024.<\/p>\n

Shawn Nelson, Chief Executive Officer, stated, \u201cNear-term headwinds for our category clearly persisted through the pre-election period. However, we gained market share and strengthened our competitive position through our relentless focus on product innovation and operational excellence. Our expanding portfolio of innovative products is resonating with customers and creating new avenues for sustained growth in the future. The soft launch of our Reclining Seat in the fourth quarter is just one of many exciting examples to come. The fundamental drivers of our business – including our brand equity, innovation pipeline, and customer relationship opportunities – are strong and give us high conviction in our ability to deliver substantial value creation over the long term. We look forward to sharing a detailed view of these opportunities and our strategic roadmap at our upcoming investor day next week.\u201d<\/p>\n

\n
\n Key Measures for the Third Quarter and Year-to-date Period of Fiscal 2025 Ending November\u00a03, 2024:<\/u>
\n <\/strong>
\n
(Dollars in millions, except per share amounts. Dollar and percentage changes may not recalculate due to rounding.)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen weeks ended<\/strong>\n <\/td>\n\n Thirty-nine weeks ended<\/strong>\n <\/td>\n<\/tr>\n
\n November 3,<\/strong>
\n
\n 2024<\/strong>\n <\/td>\n		\n October 29,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\n % Inc (Dec)<\/strong>\n <\/td>\n\n November 3,<\/strong>
\n
\n 2024<\/strong>\n <\/td>\n		\n October 29,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\n % Inc (Dec)<\/strong>\n <\/td>\n<\/tr>\n
Net sales<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Showrooms<\/td>\n$91.0<\/td>\n\u00a0<\/td>\n$98.7<\/td>\n\u00a0<\/td>\n\n (7.8<\/em>
\n %)<\/em>\n <\/td>\n		$271.4<\/td>\n\u00a0<\/td>\n$280.5<\/td>\n\u00a0<\/td>\n\n (3.2<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Internet<\/td>\n$44.9<\/td>\n\u00a0<\/td>\n$40.0<\/td>\n\u00a0<\/td>\n\n 12.1<\/em>
\n %<\/em>\n <\/td>\n		$125.8<\/td>\n\u00a0<\/td>\n$121.7<\/td>\n\u00a0<\/td>\n\n 3.4<\/em>
\n %<\/em>\n <\/td>\n<\/tr>\n
Other<\/td>\n$14.0<\/td>\n\u00a0<\/td>\n$15.4<\/td>\n\u00a0<\/td>\n\n (8.6<\/em>
\n %)<\/em>\n <\/td>\n		$41.9<\/td>\n\u00a0<\/td>\n$47.6<\/td>\n\u00a0<\/td>\n\n (11.9<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Total net sales<\/td>\n$149.9<\/td>\n\u00a0<\/td>\n$154.0<\/td>\n\u00a0<\/td>\n\n (2.7<\/em>
\n %)<\/em>\n <\/td>\n		$439.1<\/td>\n\u00a0<\/td>\n$449.8<\/td>\n\u00a0<\/td>\n\n (2.4<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Gross profit<\/td>\n$87.6<\/td>\n\u00a0<\/td>\n$88.4<\/td>\n\u00a0<\/td>\n\n (0.9<\/em>
\n %)<\/em>\n <\/td>\n		$252.1<\/td>\n\u00a0<\/td>\n$251.4<\/td>\n\u00a0<\/td>\n\n 0.3<\/em>
\n %<\/em>\n <\/td>\n<\/tr>\n
Gross margin<\/td>\n\n 58.5<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 57.4<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 110 bps<\/em>\n <\/td>\n\n 57.4<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 55.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 150 bps<\/em>\n <\/td>\n<\/tr>\n
Total operating expenses<\/td>\n$95.4<\/td>\n\u00a0<\/td>\n$92.1<\/td>\n\u00a0<\/td>\n\n 3.6<\/em>
\n %<\/em>\n <\/td>\n		$286.0<\/td>\n\u00a0<\/td>\n$261.7<\/td>\n\u00a0<\/td>\n\n 9.3<\/em>
\n %<\/em>\n <\/td>\n<\/tr>\n
SG&A<\/td>\n$71.7<\/td>\n\u00a0<\/td>\n$67.6<\/td>\n\u00a0<\/td>\n\n 6.1<\/em>
\n %<\/em>\n <\/td>\n		$213.8<\/td>\n\u00a0<\/td>\n$188.0<\/td>\n\u00a0<\/td>\n\n 13.7<\/em>
\n %<\/em>\n <\/td>\n<\/tr>\n
SG&A as a % of Net Sales<\/td>\n\n 47.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 43.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 400 bps<\/em>\n <\/td>\n\n 48.7<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 41.8<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 690 bps<\/em>\n <\/td>\n<\/tr>\n
Advertising and marketing<\/td>\n$19.9<\/td>\n\u00a0<\/td>\n$21.1<\/td>\n\u00a0<\/td>\n\n (5.5<\/em>
\n %)<\/em>\n <\/td>\n		$61.3<\/td>\n\u00a0<\/td>\n$64.6<\/td>\n\u00a0<\/td>\n\n (5.1<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Advertising & marketing as a % of Net Sales<\/td>\n\n 13.3<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 13.7<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n (40) bps<\/em>\n <\/td>\n\n 13.9<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n 14.4<\/em>\n <\/td>\n\n %<\/em>\n <\/td>\n\n (50) bps<\/em>\n <\/td>\n<\/tr>\n
Net loss<\/td>\n$(4.9<\/td>\n)<\/td>\n$(2.3<\/td>\n)<\/td>\n\n (110.6<\/em>
\n %)<\/em>\n <\/td>\n		$(23.8<\/td>\n)<\/td>\n$(7.1<\/td>\n)<\/td>\n\n (234.9<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Basic net loss per common share<\/td>\n$(0.32<\/td>\n)<\/td>\n$(0.15<\/td>\n)<\/td>\n\n (113.3<\/em>
\n %)<\/em>\n <\/td>\n		$(1.53<\/td>\n)<\/td>\n$(0.46<\/td>\n)<\/td>\n\n (232.6<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Diluted net loss per common share<\/td>\n$(0.32<\/td>\n)<\/td>\n$(0.15<\/td>\n)<\/td>\n\n (113.3<\/em>
\n %)<\/em>\n <\/td>\n		$(1.53<\/td>\n)<\/td>\n$(0.46<\/td>\n)<\/td>\n\n (232.6<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Adjusted EBITDA1<\/sup><\/td>\n$2.7<\/td>\n\u00a0<\/td>\n$2.5<\/td>\n\u00a0<\/td>\n\n 6.9<\/em>
\n %<\/em>\n <\/td>\n		$(6.1<\/td>\n)<\/td>\n$5.7<\/td>\n\u00a0<\/td>\n\n (207.6<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n
Net cash (used in) provided by operating activities<\/td>\n$(4.2<\/td>\n)<\/td>\n$(7.2<\/td>\n)<\/td>\n\n 41.6<\/em>
\n %<\/em>\n <\/td>\n		$(5.0<\/td>\n)<\/td>\n$20.1<\/td>\n\u00a0<\/td>\n\n (125.1<\/em>
\n %)<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n 1 <\/sup>Adjusted EBITDA is a non-GAAP measure. See \u201cNon-GAAP Information\u201d and \u201cReconciliation of Non-GAAP Financial Measures\u201d included in this press release.<\/p>\n\n\n\n\n\n\n\n
\n Percent increase (decrease) except showroom count<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Thirteen weeks ended<\/strong>\n <\/td>\n\n Thirty-nine weeks ended<\/strong>\n <\/td>\n<\/tr>\n
\n November 3,<\/strong>
\n
\n 2024<\/strong>\n <\/td>\n		\n October 29,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\n November 3,<\/strong>
\n
\n 2024<\/strong>\n <\/td>\n		\n October 29,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n<\/tr>\n
Omni-channel Comparable Net Sales(1)<\/sup><\/td>\n(8.3<\/td>\n)%<\/td>\n2.0<\/td>\n%<\/td>\n(9.1<\/td>\n)%<\/td>\n(3.6<\/td>\n)%<\/td>\n<\/tr>\n
Internet Sales<\/td>\n12.1<\/td>\n%<\/td>\n20.1<\/td>\n%<\/td>\n3.4<\/td>\n%<\/td>\n21.5<\/td>\n%<\/td>\n<\/tr>\n
Ending Showroom Count<\/td>\n258<\/td>\n\u00a0<\/td>\n230<\/td>\n\u00a0<\/td>\n258<\/td>\n\u00a0<\/td>\n230<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n 1 <\/sup>Omni-channel Comparable Net Sales includes sales at all retail locations and online, open greater than 12 months (including remodels and relocations) and excludes closed stores.<\/p>\n

\n
\n Highlights for the Quarter Ended November\u00a03, 2024:<\/u>
\n <\/strong>\n <\/p>\n