Lovesac (LOVE) reported a fiscal Q3 net loss Thursday of $0.32 per diluted share, widening from a loss of $0.15 a year earlier.
Analysts polled by FactSet expected a loss of $0.35.
Net sales for the quarter ended Nov. 3 were $149.9 million, down from $154 million a year earlier.
Analysts surveyed by FactSet expected $155.3 million.
For fiscal Q4, the company said it expects net income in the range of $1.67 to $2.14 per diluted share. Analysts polled by FactSet expect $2.53. Net sales for the quarter are projected to be between $221 million and $241 million. Analysts surveyed by FactSet expect $268.5 million.
For fiscal 2025, Lovesac lowered its guidance and said it now expects net income in the range of $0.27 to $0.74 per diluted share on net sales of $660 million to $680 million. It previously expected diluted net income in the range of $1.01 to $1.26 and net sales of between $700 million and $735 million. Analysts polled by FactSet expect EPS of $1.14 and net sales of $713 million.
Shares of the company fell nearly 20% in recent Thursday premarket activity.
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