Global  

Trusted News Discovery Since 2008
One News Page
One News Page > News Videos > U.S.-China Trade War No Match For Lovesac

U.S.-China Trade War No Match For Lovesac

Video Credit: The Street - Duration: 01:05s - Published
U.S.-China Trade War No Match For Lovesac

U.S.-China Trade War No Match For Lovesac

Shares of bean bag seat and modular furniture maker Lovesac surged on Wednesday after the company reported a fiscal second-quarter loss that was far narrower than analysts' predictions on strong demand for its "sactional" seats and sides, even as the company noted its struggles navigating around the U.S.-China tariff spat.

The Stamford, Conn.-based company posted an adjusted loss of $4.5 million, or 31 cents a share, for its second quarter ended Aug.

4, vs.

An adjusted loss of $5.68 million, or 63 cents a share, in the comparable year-ago quarter.

Analysts polled by FactSet had been expecting a loss of 51 cents a share.

Sales came in at $48.1 million, up from $33.2 million a year ago and also above analysts' forecasts.

Of particular note: the company sticking to its full-year guidance despite reducing its manufacturing in China from 75% at the beginning of the year to 44% as of September, thanks to the ongoing trade war and ensuing tariffs that have affected made-in-China goods.

Premium Pick: Jim Cramer: 4 Reasons to Buy Starbucks, Chipotle and These 6 Stocks Now Trivia: Can You Name This Only-Colonial Era Church in NYC?

Latest News: Apple iPhone 11 Launch Event: Products Unveiled TheStreet Explains: What Are Tariffs and Why Do They Move the Market?

Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below

0
shares
ShareTweetSavePostSend
 

You Might Like


Tweets about this


Recent related videos from verified sources

Trump White House Eliminated Key Health Role That Could Have Alerted U.S. to Coronavirus Magnitude Much Sooner [Video]

Trump White House Eliminated Key Health Role That Could Have Alerted U.S. to Coronavirus Magnitude Much Sooner

Months before the coronavirus outbreak, the Trump White House eliminated a U.S. health position based in China that could have alerted the world earlier about the extent of COVID-19. Veuerโ€™s Justin..

Credit: Veuer     Duration: 01:25Published
Medical Supplies From China Are Still Facing U.S. Tariffs [Video]

Medical Supplies From China Are Still Facing U.S. Tariffs

During the trade war with China, the U.S. slapped tariffs on around $4.4 billion worth of medical equipment.

Credit: Rumble     Duration: 01:02Published


Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.