Lovesac stock soars after profit beat


Lovesac Co. LOVE, +6.60% stock soared 18.3% in Tuesday premarket trading after the it reported a fourth-quarter profit beat. The furniture company posted net income totaling $32.6 million, or $2.03 per share, up from $21.7 million, or $1.37 per share, last year. Sales of $196.2 million were up from $129.7 million last year. The FactSet consensus was for EPS of $1.39 and sales of $220.7 million. Total comparable sales, which includes both showroom and internet sales, rose 50%. Lovesac stock is down 11.8% over the past year while the benchmark S&P 500 index SPX, +0.71% has gained 15.2%.

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