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Sales were essentially flat: Fiscal Q2 net sales rose 0.4% to $161.2 million, while omni-channel comparable sales fell 1.9%. Premium purchases above $6,000 grew at a double-digit rate, but lower-priced demand remained pressured by inflation, interest rates and promotions.
Tariff refunds significantly boosted reported results: Lovesac received a $21 million benefit, lifting gross margin to 68.4% and turning a prior-year operating loss into $10.9 million of operating income. Excluding the refunds, gross margin was about 56% and adjusted EBITDA was a $1.3 million loss.
The company lowered its outlook and pushed major launches later: New Sactionals and large-format sectional products are expected to contribute meaningfully mainly in Q4, prompting a more conservative forecast of $690 million–$710 million in fiscal 2027 sales and $31.5 million–$35.5 million of adjusted EBITDA.