LOVE - Why The Lovesac Company Stock Surged Today
Shares of furniture company The Lovesac Company (NASDAQ: LOVE) surged on Thursday after the company reported financial results for the second quarter of its fiscal 2022 that exceeded expectations by a wide margin. As of 12:30 p.m. EDT, the stock was up a whopping 18%.
According to Yahoo Finance, analysts -- at best -- expected Lovesac to report revenue of $91.7 million resulting in a net loss of $0.03 per share for Q2. In reality, Lovesac generated revenue of $102.4 million and reported earnings per share (EPS) of $0.52. Those are huge beats on the top and bottom lines.
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Why The Lovesac Company Stock Surged Today