Lovesac Co. (LOVE), a direct-to-consumer specialty furniture brand, on Wednesday reported net income for the fourth quarter that soared three-fold to $21.7 million or $1.37 per share from $5.4 million or $0.37 per share in the previous-year quarter.
Net sales for the quarter grew 40.7 percent to $129.7 million from $92.2 million in the year-ago period, driven by comparable sales growth of 45.0 percent and a surge in Internet sales of 86.1 percent.
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