Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our common stock is traded on Nasdaq under the symbol “LOVE.”
Holders
As of April 7, 2025, there were 125 holders of record of our common stock. Because shares of our common stock are held by depositories, brokers and other nominees, the number of beneficial holders of our shares is substantially larger than the number of record holders.
Issuer Purchases of Equity Securities
The following table summarizes the share repurchase activity for the thirteen weeks ended February 2, 2025:
Total Number of Shares
Purchased Average Price Paid Per Share (1)
Total Number of Shares
Purchased as Part of
Publicly Announced
Program Approximate Dollar Value of
Shares That May Yet Be
Purchased Under the
Program (2)
(in thousands)
November 4, 2024 to December 1, 2024 — $ — — $ 36,571
December 2, 2024 to January 5, 2025 189,609 $ 24.17 189,609 $ 31,988
January 6, 2025 to February 2, 2025 456,680 $ 26.07 456,680 $ 20,084
Total 646,289 646,289
(1) Average price paid per share excludes broker commission fees and the 1% excise tax incurred under the Inflation Reduction Act of 2022.
(2) In June 2024, our board of directors authorized the repurchase of up to $40.0 million in shares of our outstanding common stock. For additional information, refer to Note 9. Stockholders' Equity in the Notes to the Financial Statements included in Part IV of this report.
Dividends
We have never paid cash dividends on any of our capital stock and we currently intend to retain our future earnings, if any, to fund the development and growth of our business. We do not intend to pay cash dividends to holders of our common stock in the foreseeable future.
Lovesac Stock Performance Graph
The graph below shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our other filings under the Securities Act or the Exchange Act.
The following graph compares the cumulative total stockholder return on our common stock (assuming reinvestment of dividends) with the cumulative total return on the S&P 500 and the Russell 2000 from February 2, 2020 through February 2, 2025. The graph assumes a $100 investment in each of our common stock, the S&P 500 and the Russell 2000 on February 2, 2020. The comparisons in the graph below are based upon historical data and are not indicative of, nor intended to forecast, future performance of our Common Stock.
34
Table of Contents
February 2,
2020 January 31,
2021 January 30,
2022 January 29,
2023 February 4,
2024 February 2,
2025
The Lovesac Company common stock
100.00 498.15 445.29 228.81 202.82 225.20
Russell 2000 100.00 130.17 124.80 122.93 128.26 151.53
S&P 500 100.00 117.25 141.87 132.47 164.06 202.59
Item 6. [Reserved]
Not applicable.