Loading...
•
Aug 01, 2021
Lovesac Q2 2022 Earnings Report
Reported a net sales growth of 65.4% and a comparable sales growth of 39.5%. Net income improved to $8.4 million.
Key Takeaways
Lovesac reported strong second-quarter results with a 65.4% increase in net sales and a net income of $8.4 million, a significant improvement from the previous year. The company's performance was driven by its disruptive home furnishings model, diversified supply chain, and growing brand awareness.
Net sales grew by 65.4%.
Comparable sales increased by 39.5%.
Net income improved to $8.4 million from a loss of $(1.1) million in the prior year period.
Adjusted EBITDA reached $12.4 million.
Lovesac
Lovesac
Forward Guidance
The third quarter is off to a strong start, and the company is confident in its ability to execute its key strategic growth priorities and navigate the tight supply chain environment.