Sometimes it's good to stand out in a crowd. Lovesac (NASDAQ: LOVE) posted financial results for its fiscal 2024 first quarter on Wednesday morning, continuing to post sales growth at a time when many furniture makers are going the other way.
The bad news is that revenue gains continue to decelerate at Lovesac. The good news is that there are things far worse than slowing growth. Leading online furniture retailer (NYSE: W) has now posted eight consecutive quarters of year-over-year declines in revenue.
Comparing the two companies may not seem fair. Wayfair is a household name, an e-tailing giant that sells a wide range of third-party furniture with sales peaking north of $14.1 billion in 2020. Lovesac sells only its own distinct product lines through physical showrooms and digital sales channels. Lovesac is also a lot smaller than Wayfair with $663.4 million in trailing revenue. However, the two companies are moving in different directions within the same furniture market, and it's a notable contrast.
Source Fool.com