- Lovesac Co LOVE reported fourth-quarter FY22 sales growth of 51.3% year-on-year, to $196.2 million, beating the consensus of $174.33 million.
- The gross profit rose 45.9% Y/Y to $109.6 million, with the margin contracting 200 basis points to 55.9%.
- The operating expenses climbed 60.2% Y/Y to $85.4 million. The operating margin contracted 450 basis points to 12.3%, and operating income for the quarter was $24.2 million. Adjusted EBITDA of $32 million increased 23.6% Y/Y.
- EPS of $2.03 improved 48.2% from $1.37 last year, topping the consensus of $0.54.
- Lovesac held $92.4 million in cash and equivalents as of January 30, 2022. Net cash provided by operating activities for Q4 totaled $49.2 million.
- Price Action: LOVE shares are trading higher by 16.7% at $55.05 in premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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