RTTNews | Apr 14, 2021 08:12AM EDT

08:12 Wednesday, April 14, 2021 (RTTNews.com) - Shares of direct-to-consumer specialty furniture brand The Lovesac Company (LOVE) are up more than 8% in pre-market trade on Wednesday on better-than-expected fourth-quarter results.

Net income in the fourth quarter jumped to $21.7 million or $1.37 per share from $5.4 million or $0.37 per share in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter rose 40.7% to $129.7 million from $92.2 million in the comparable quarter last year, thanks to 45% growth in comparable sales and 86.1% jump in internet sales. The consensus estimate stood at $116.13 million.

LOVE closed Tuesday's regular trade at $65.74, down 4.96%. The stock is currently at $71.02.

Read the original article on RTTNews ( https://www.rttnews.com/3184897/stock-alert-the-lovesac-company-adds-8-in-pre-market-on-upbeat-q4-results.aspx)

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