Lovesac commentary suggests faster pace of product innovation, says Maxim

Maxim analyst Tom Forte keeps a Buy rating and $38 price target on Lovesac after its Q2 results that topped expectations for net sales and adjusted EBITDA. The omnichannel comps decline of 5.4% was much better than the firm’s 11.6% decline estimate, while the management commentar suggested a faster pace of new product innovation, which could be a sales catalyst, the analyst tells investors in a research note.