LOVE - Lovesac: Perfect Entry Point

• Shares of Lovesac have corrected ~30% since the start of June, despite tremendous fundamental performance and no immediate red flags.
• Lovesac's growth surged past >50% y/y in its most recent quarter, reflecting the opening of all of its showrooms.
• The company has also seen a massive five-point increase in gross margins, driven by full-priced sales and tariff mitigation efforts.
• Lovesac is a great example of a battered company that is emerging from the pandemic stronger.

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