In the Zone

LOVE – The Lovesac Company, Inc.

 

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company offers seactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, blankets, decorative pillows, as well as fitted seat tables just to name a few. The Lovesac Company was founded in 1998 and is headquartered in Stamford, Connecticut. 

During the companies last earning report in September sales rose beating analyst expectations by 35% at $62 million. The increase in sales were due to record low mortgage rates as homes are continuing to be sold even though unemployment is below average. Even if the economic downturn puts a hold on the demand for new home sales furniture companies will benefit due to the needs of consumers for chairs, tables couches as well as other purchases.

 As the market came to a close on Friday the stock ended the week trading at $34.00 up $4.83 or 16.56% on slightly lower than average trading volume of 973,989. The average weekly trading volume for the company is 1.9 million, please keep this stock on your radar for a potential move higher in the weeks ahead as the home furniture sector continues to advance.

 

 

By Marlin Rolle

 

Please note that all the stocks listed are not a buy recommendation; please do your own due diligence or get help from a professional before trading.