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Aug 02, 2020
Lovesac Q2 2021 Earnings Report
Reported a net sales increase and an improvement in net loss and Adjusted EBITDA.
Key Takeaways
Lovesac Company announced its financial results for the second quarter of fiscal 2021, with net sales increasing by 28.7% and comparable sales increasing by 72.4%. The company's net loss improved to $1.1 million, and Adjusted EBITDA improved to $2.2 million.
Net sales increased by 28.7%.
Comparable sales increased 72.4%.
Net loss improved to $1.1 million.
Adjusted EBITDA improved to $2.2 million.
Lovesac
Lovesac
Forward Guidance
The Company anticipates sales growth in the third quarter to align with the second quarter's growth rates. For the full year, positive Adjusted EBITDA is expected, primarily in the fourth quarter. The third quarter is projected to have an Adjusted EBITDA loss between $10 million and $11 million due to expense shifts and increased marketing spend.