(RTTNews) - The Lovesac Company (LOVE) posted a net loss of $11.1 million in the first quarter of fiscal 2027 or $0.76 per share compared to a loss of $10.8 million or $0.73 per share in the prior year period. During the first quarter of fiscal 2027, the company recorded an income tax benefit of $5.6 million, compared to $3.8 million in the prior year period. Adjusted EBITDA was negative at $10.5 million compared to a negative adjusted EBITDA of $8.4 million. Net sales decreased 0.1% in the first quarter of fiscal 2027 to $138.2 million, compared to the prior year period.
For the full year of fiscal 2027, the company expects: net sales in the range of $700 million to $740 million; adjusted EBITDA in the range of $35 million to $46 million; and income per common share in the range of $0.34 to $0.81.
for the second quarter of fiscal 2027, the company expects: net sales in the range of $157 million to $166 million; adjusted EBITDA in the range of a loss of $4 million to income of $2 million; and basic loss per common share in the range of $0.20 to $0.48.
In pre-market trading on NasdaqGM, Lovesac shares are up 0.91 percent to $16.63.
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