RTTNews | Apr 14, 2021 07:46AM EDT

07:45 Wednesday, April 14, 2021 (RTTNews.com) - Lovesac Co. (LOVE), a direct-to-consumer specialty furniture brand, on Wednesday reported net income for the fourth quarter that soared three-fold to $21.7 million or $1.37 per share from $5.4 million or $0.37 per share in the previous-year quarter.

Net sales for the quarter grew 40.7 percent to $129.7 million from $92.2 million in the year-ago period, driven by comparable sales growth of 45.0 percent and a surge in Internet sales of 86.1 percent.

On average, seven analysts polled by Thomson Reuters expect the company to report loss of $0.58 per share on revenues of $116.13 million for the quarter. Analysts' estimates typically exclude special items.

Read the original article on RTTNews ( https://www.rttnews.com/3184874/lovesac-q4-profit-soars-results-top-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved