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December 8 , 2021 The Lovesac Company Reports Third Quarter Fiscal 2022 Financial Results LOVESAC Designed for Life Furniture Co. Strong Momentum Across Channels Drives 56.1 % Growth in Net Sales Comparable Sales Increased 47.1 % on Top of 53.5 % in the Prior Year Period Net Income Improved 11 % to $ 2.8 million Third Quarter Adjusted EBITDA¹ of $ 5.8 million STAMFORD , Conn . , Dec. 08 , 2021 ( GLOBE NEWSWIRE ) -- The Lovesac Company ( Nasdaq : LOVE ) ( " Lovesac " or the " Company " ) today announced financial results for the third quarter of fiscal 2022 , which ended October 31 , 2021 . Shawn Nelson , Chief Executive Officer , stated , " Our results for the third quarter reflect strong , sustainable and profitable growth across all sales channels including , most notably , an increase in showroom sales of nearly 70 % and a nearly 40 % increase for internet sales . This performance is a testament to the team's exceptional execution and affirms that our personalized shopping experience , whether in person , online or directly to customers ' homes through our recently launched Mobile Concierge service , is resonating and meeting customers where they prefer to shop . We generated strong top - line growth against the backdrop of macro supply chain disruption that reveals some of the many advantages of our unique business model with a concentrated sku count and redundant manufacturing spread across multiple geographies , delivering customers ' orders within days . " Mr. Nelson continued , " Operationally , we made good progress against our strategic priorities including the much - anticipated launch of our new Stealthtech embedded surround sound system , which is reverse - compatible with all of the designed - for - life Sactionals we have sold to - date . The results of this approach to achieving true sustainability will be highlighted in our first ever formal ESG report being published later this month . As we look to the final quarter of the year , we are pleased with our strong start to the all - important holiday season and are confident in our in - stock position to meet fourth quarter demand . We look forward to delivering an elevated customer experience across channels during the busiest time of year and closing out fiscal 2022. " Key Measures for the Third Quarter and Year - to - date Period of Fiscal 2022 Ending October 31 , 2021 : ( Dollars in millions , except per share amounts ) Net Sales Gross Profit Thirteen weeks ended Thirty - nine weeks ended October November 31 , 1 , 2021 2020 October November 31 , 1 , % Inc 2020 ( Dec ) 2021 $ 116.7 $ 58.6 $ 41.3 41.9 % $ 163.7 $ 99.6 $ 74.7 56.1 % $ 302.0 $ 191.1 % Inc ( Dec ) 58.1 % 64.3 %