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LOVE - Lovesac: Market Too Focused On Short-Term Headwinds
The Lovesac Company
Historic freight rates have shaved off several hundred bps from Lovesac's gross margins. While this is concerning for upcoming earnings reports, medium-term earnings expectations remain unaffected.
With growing high-traffic showrooms and shop-in-shops, Lovesac is positioned to sustain a 30 to 40% growth rate this fiscal year.
The current share price is too focused on current headwinds offering investors an adequate margin of safety based on a competitor-consistent 15x FWD P/E multiple.