1011 ET - Lovesac had a solid quarter with accelerating comps, but a better Ebitda was offset by lower than expected gross margins and elevated inventory, D.A. Davidson's Michael Baker and Keegan Cox say in a research note. The home-furnishings brand saw its loss narrow and sales rise in 1Q. The analysts note that Lovesac's full year guide was maintained, which is positive, but its outlook for 2Q is mixed. They flag inventory as an item to watch given it rose 32%. "We figured inventory would be high due to bringing in product early in front of tariffs, as well as two new product launches. But, this was higher than expected," say Baker and Cox. Lovesac sinks 12% to 18.11. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
June 12, 2025 10:11 ET (14:11 GMT)
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