Reports Q3 revenue $134.8M, consensus $134.46M. Shawn Nelson, CEO, stated, "Against a challenging backdrop, Lovesac’s third quarter results provide the latest validation of a well-executed and balanced omni-channel strategy paired with truly innovative products. These results illustrate the continued momentum from our inflecting brand awareness and customer adoption bolstered by our industry-leading in-stock position. We believe we are well positioned for the all-important fourth quarter holiday-season where early signs point to strong cash flow generation for the quarter. At the same time, we are planning for continued inflationary pressure on consumers and intend to maintain tight expense management and careful prioritization of critical spending to support continued growth. Sales of StealthTech continue to grow and augment our differentiation in the landscape, widening our opportunity. Our addressable market remains vast, at $46.2 billion for the couch + home audio categories, which combined with significant market fragmentation and our own fundamental operating strengths and differentiators, presents a very attractive and long runway for our growth."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on LOVE:
