1317 ET - Home furnishing sales grew faster than any other retail sales category in December, and could be a sign that Lovesac has bottomed, D.A. Davidson analyst Michael Baker says in a research note. Sales through furniture and home furnishing stores were up 7.7%, according to Baker, the best month since January 2023. Baker says the rebound most impacts Lovesac, the maker of beanbag furniture and sectional sofas. He says it could indicate that "the weakness that LOVE saw around Black Friday and Cyber Monday may have been short lived." Lovesac lowered its 2025 outlook on December 12, triggering a 30% one-day slide. Shares are up 12% since the start of the year.(katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 13:17 ET (18:17 GMT)
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