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Jan 30, 2022
Lovesac Q4 2022 Earnings Report
Lovesac reported strong financial results with significant growth in net sales and comparable sales.
Key Takeaways
Lovesac Company reported a net sales increase of 51.3% and comparable sales growth of 50.0% for the fourth quarter of fiscal year 2022. Net income increased to $32.6 million, with basic EPS of $2.15 and diluted EPS of $2.03.
Net sales increased by 51.3% in the fourth quarter.
Comparable sales grew by 50.0% in the fourth quarter.
Gross profit increased by 45.9% to $109.6 million.
Net income reached $32.6 million, with a significant contribution from a tax benefit.
Lovesac
Lovesac
Forward Guidance
Lovesac enters fiscal 2023 with the people, strategy and platform primed to build on our success and deliver long-term, sustainable and profitable growth.
Positive Outlook
- Smart investments in product extensions
- Smart investments in technology
- Creative deployment of our omni-channel sales model
- Supply chain efficiencies
- Operating efficiencies