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Shares of modular furniture maker Lovesac (NASDAQ: LOVE) are down 17% Thursday as of 11 p.m. ET, according to data provided by S&P Global Market Intelligence .
During the second quarter, Lovesac met analysts' expectations by growing sales by 2.5%, and its $0.40 net loss per share was much better than expected for the company's slower summer quarter.
However, management slashed full-year earnings-per-share guidance from $1.08 at the midpoint to $0.75, prompting the market's adverse reaction.