Lovesac Q4 2024 Earnings Report
Key Takeaways
Lovesac's Q4 2024 net sales increased by 5.0% compared to the prior year, driven by growth in Showroom and Internet channels, despite a decrease in omni-channel comparable net sales. The company surpassed $700 million in revenues for the fiscal year, representing a 7.5% increase.
Net sales increased 5.0% in the fourth quarter, driven by Showroom and Internet channels.
Gross profit increased $15.9 million, or 11.9%, to $149.6 million with gross margin increasing 360 basis points to 59.7%.
Net income was $31.0 million, or $1.87 net income per diluted share, compared to $26.2 million, or $1.65 net income per diluted share, in the prior year period.
The cash and cash equivalents balance as of February 4, 2024 was $87.0 million, compared to $43.5 million as of January 29, 2023.
Lovesac
Lovesac
Lovesac Revenue by Segment
Forward Guidance
The Company expects net sales in the range of $700 million to $770 million for the full year of fiscal 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income