LOVE - Lovesac's 10-K Raises More Questions Than It Answers

This article is a follow-on to my earnings preview here and my initial piece on The Lovesac Company (LOVE) which can be found here. Lovesac is a vertically integrated retailer of expensive and customizable furniture operating out of 75 stores, the internet and through shop-in-shops at Costco. The company’s product line consists of two primary products, Sacs which are outsized bean bag chairs and Sactionals which are modular sectional sofas. The company also offers accessories such as coverings, pillows, coasters, and more designed for use with its Sacs and Sactionals. The company