LOVE - Lovesac skyrockets after earnings smasher

The Lovesac Company (NASDAQ:LOVE) soared on Tuesday after the retailer cruised past estimates with its Q4 earnings report. Sales were up 51% for the quarter due largely to higher sales volume and lower promotional discounting. Showroom sales, which include kiosks and mobile concierges, were up 59.8% for the period, while Internet sales rose 22.8% and an increase of 164.9% was recorded in the Other channel category. Gross profit was up 46% during the quarter. An increase in total freight including tariffs and warehousing costs over the prior year period was said to be principally related to a 590 basis point increase in inbound container freight costs and increased tariffs related to higher product sourcing from China, partially offset by a 110 basis point improvement due to higher leverage of warehousing and outbound freight costs. Operating expenses rose 60% during the quarter to help take down the gross margin rate from

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Lovesac skyrockets after earnings smasher