By Sabela Ojea
Lovesac guided for higher sales in fiscal 2026 from its expectations for the current year as the furniture industry is struggling to bounce back after slumping from the peaks seen during the pandemic.
The furniture maker on Tuesday said it forecasts sales to grow 7% to 12% in fiscal 2026, based on its latest guidance for sales between $660 million and $680 million for fiscal 2025 and without taking into account any potential new tariffs.
Analysts polled by FactSet are forecasting higher sales of $708.4 million in fiscal 2026. In the fiscal year ended Feb. 4, 2024, Lovesac reported sales of $700.3 million.
Lovesac's financial targets assume annual industry outperformance of 10% to 15%, the company added.
The company said that it also expects earnings per share to at least double in fiscal 2026, compared with views of 27 cents to 74 cents in fiscal 2025.
Wall Street expects per-share earnings of $1.06, according to FactSet.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 17, 2024 09:42 ET (14:42 GMT)
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