STAMFORD, Conn., March 27, 2025 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the Designed for Life home and technology brand, today announced that its fourth quarter and fiscal 2025 financial results will be released before market open on Thursday, April 10, 2025. The Company will host a conference call at 8:30 a.m. Eastern Time to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 877-407-3982 (internatio ...

MONTREAL, March 24, 2025 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (“Cannara”, “the Company”, “us” or “we”) (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB0), a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices with two mega facilities based in Québec spanning over 1,650,000 sq. ft., is pleased to announce the appointment of Mr. Justin Cohen to its board of directors (the “Board”) as an independent director. Mr. Cohen will also serve as a member of the Audit ...

Core Concept - The Lovesac Company is launching the "Recline of Civilization" campaign to promote its new Reclining Seat, positioning reclining as an aspirational lifestyle choice that counters the hustle culture prevalent today [2][4]. Product Overview - The Reclining Seat is designed to integrate seamlessly with the existing Sactionals product line, featuring a hidden reclining mechanism and customizable options such as seat depths, arm shapes, and back styles [5][6]. - Customers can choose from over 150 washable, interchangeable covers, enhancing the product's versatility and ease of maintenance [6]. Marketing Strategy - The campaign features notable personalities like Kathy Hilton, Jay Shetty, and Funny Marco, aiming to destigmatize relaxation and self-care while promoting the benefits of slowing down [3][4]. - The marketing message emphasizes the importance of rest for peak performance, aligning with the company's philosophy that comfort and relaxation are essential in today's fast-paced world [5]. Company Background - The Lovesac Company, based in Stamford, Connecticut, focuses on technology-driven furniture design, emphasizing sustainability and innovation in its product offerings [8]. - The company is recognized for its modular couches (Sactionals) and premium foam beanbag chairs (Sacs), and has received awards for its commitment to responsible production [8].

Core Viewpoint - Cannara Biotech Inc. is positioned as a leading producer in the Canadian cannabis market, emphasizing its financial performance, market share growth, and cost advantages due to its operations in Québec [3]. Company Overview - Cannara Biotech Inc. operates as a vertically integrated producer of premium-grade cannabis and derivative products, with two large facilities in Québec covering over 1,650,000 sq. ft. [1][5]. - The company has a potential annual cultivation output of 100,000 kg, leveraging low electricity costs in Québec to maintain affordable pricing for its products [5]. Upcoming Presentation - Cannara will present at the Ventum Capital Markets Canadian Cannabis Conference on March 12, 2025, from 1:40 PM to 2:00 PM EST, where the CEO and CFO will discuss the company's performance and answer investor questions [1][2]. Financial Performance - The company highlights its impressive financial performance and efficient scaling, contrasting its success with competitors who struggle with profitability [3].

Core Insights - The Lovesac Company has partnered with Habitat for Humanity to provide sustainable comfort solutions for families, focusing on creating stable and comfortable homes [1][5] - Lovesac has donated over $600,000 worth of products to Habitat for Humanity and is committing to an additional $150,000 in product donations this year [2] - The partnership will also involve active participation from Lovesac employees in volunteer efforts to support home construction and refurbishment [4] Company Overview - The Lovesac Company, based in Stamford, Connecticut, designs and sells high-quality furniture through its "Designed for Life" approach, which emphasizes sustainability and longevity [7] - The product line includes modular couches called Sactionals, premium foam beanbag chairs known as Sacs, and other customizable furniture solutions [8] - Lovesac's commitment to sustainability is recognized through awards such as Repreve's 7th Annual Champions of Sustainability Award [8] Partnership Details - The partnership aims to provide relief in disaster-impacted communities, with Lovesac pledging over $400,000 in product donations to support recovery efforts in areas like North Carolina and Los Angeles [3] - Habitat for Humanity's ReStores, where Lovesac products are sold, help fund local housing initiatives and improve community living conditions [2][6] - The collaboration is designed to create safe and stable homes for families, particularly in communities affected by natural disasters [5][6]

Core Viewpoint - Cannara Biotech Inc. has announced the extension and amendments to its credit agreement with the Bank of Montreal and the Olymbec Convertible Debenture, aimed at optimizing its financial position and supporting long-term strategic goals [1][2]. Credit Facility Amendments - The maturity date of the Restated Credit Facility has been extended to December 31, 2027 [6]. - The Restated Credit Facility consolidates the Company's borrowing facilities, including a term loan facility of $34.8 million, a $10 million revolving credit facility, and a $5.6 million letter of credit [6]. - Updated financial covenants in the Restated Credit Facility provide the Company with enhanced flexibility and liquidity [6]. Convertible Debenture Amendments - The maturity date of the Olymbec Convertible Debenture has been extended to March 31, 2028 [7]. - Olymbec has the right to demand partial repayments of up to $1 million, subject to BMO's approval, with a second partial repayment due on September 30, 2025 [7]. - A new Javaa Convertible Debenture is anticipated to be issued to satisfy Olymbec's demand for the second partial repayment [8]. Interest Rates and Payment Terms - The Olymbec Convertible Debenture bears an interest rate of 10.75% per annum, compounded semi-annually effective January 31, 2025 [8]. - Interest incurred prior to September 30, 2025, can be paid in cash or common shares at a conversion price of $1.80 per share [8]. Market Maker and Investor Relations Engagement - Cannara has retained Integral Wealth Securities to provide market-making services to enhance liquidity and contribute to an active market for its shares [11][12]. - The Company has entered into a consulting agreement with Impaq Capital Inc. for investor relations services, with a monthly fee of $7,500 [15][16]. Shareholder Meeting Outcomes - The number of directors was set at five, with all nominees elected by a majority of shareholders [18][19]. - MNP LLP was appointed as auditors for Fiscal 2025, receiving 99.95% approval from shareholders [20]. - Shareholders approved the Company's rolling stock option plan and RSU plan, both required annually by TSXV policies [21][23].

Product Launch - Hormel Foods is introducing limited edition Heart-to-Heart kits for Valentine's Day, featuring heart-shaped pepperonis and all necessary ingredients for a pizza night at home [1][4][6] - The kits aim to enhance the Valentine's Day experience by allowing consumers to send personalized messages along with the pizza-making ingredients [6][5] Brand Positioning - HORMEL® Pepperoni is recognized as the No. 1 selling brand of pepperoni in the United States, based on the latest 52-week Circana data [7] - The brand has been a staple in American cuisine for over 100 years, emphasizing quality ingredients and great flavor [7] Company Overview - Hormel Foods Corporation, headquartered in Austin, Minnesota, generates over $12 billion in annual revenue and operates in more than 80 countries [8] - The company is part of the S&P 500 Index and has received multiple accolades for corporate responsibility and workplace quality [8]

Core Insights - Cannara Biotech Inc. reported its strongest quarter in company history for Q1 2025, achieving record market share, revenue, adjusted EBITDA, operating cash flow, and free cash flow, reflecting successful execution of its long-term business strategy and industry leadership [3][4]. Financial Performance - Net revenues increased by 29% to $25.1 million in Q1 2025 compared to $19.5 million in Q1 2024, marking the highest quarterly revenue in the company's history [5][10]. - Gross profit before fair value adjustments rose by 23% to $9.8 million in Q1 2025 from $7.9 million in Q1 2024, with gross profit margins improving to 39% [4][10]. - Adjusted EBITDA reached a record-high of $6.0 million, up 16% from $5.2 million in Q1 2024 [10][22]. - Operating cash flow surged to $5.8 million in Q1 2025, significantly up from $0.8 million in Q1 2024 [4][10]. - Free cash flow improved to $4.6 million in Q1 2025, a substantial increase from negative $2.0 million in Q1 2024 [4][10]. Market Share and Growth - Cannara achieved a Canadian market share of 4.1%, representing a 28% increase quarter over quarter and a 58% increase year over year [5][17]. - The company plans to open two new growing zones, increasing capacity by 6,000 kg per year, and introduce over 20 new products in 2025 [3][5]. Operational Highlights - The company focused on building its operations and supply chain to accommodate increases in sales and market share, achieving its highest market share and revenue in Q1 2025 [8][10]. - Gross cannabis revenues increased by 33% to $34.9 million in Q1 2025, driven by deeper market penetration and new product offerings [10][22]. Financing and Capital Transactions - Cannara has a $10 million revolving credit facility with Bank of Montreal, with a drawn balance of $6.76 million as of November 30, 2024 [20]. - During Q1 2025, the company granted stock options and performance share units to employees and board members, indicating a commitment to incentivizing performance [21].

Core Insights - The Lovesac Company will participate in the 2025 ICR Conference on January 14, 2025, at 11:00 a.m. Eastern Time [1] - The event will be webcast live and available for later viewing on the Company's Investor Relations website [2] Company Overview - The Lovesac Company, based in Stamford, Connecticut, is a technology-driven furniture brand known for its modular couches called Sactionals and premium foam beanbag chairs called Sacs [3] - The Company employs a proprietary "Designed For Life" approach, resulting in high-quality, durable products that adapt to customers' evolving needs [3] - Innovation is central to the Company's design philosophy, with all core products protected by a strong portfolio of utility patents [3] - Products are marketed and sold primarily online through the Company's website, complemented by direct-to-consumer showrooms and partnerships with third-party retailers [3]

Core Viewpoint - Lovesac's stock experienced a significant decline of over 37% in December 2024, primarily due to disappointing quarterly earnings and negative analyst updates [1] Financial Performance - In the third quarter of fiscal 2025, Lovesac reported net sales of $149.9 million, a decrease of nearly 3% year over year [2] - The company faced a net loss of $4.9 million, or $0.32 per share, compared to a loss of $2.3 million in the same quarter of fiscal 2024 [2][3] - Analysts had anticipated better performance, expecting sales to exceed $155 million and a net loss of $0.24 per share [3] Sales and Growth Outlook - The decline in sales was attributed to a more than 9% drop in omnichannel sales, although this was partially offset by the addition of 28 new company showrooms [3] - Lovesac provided guidance for fiscal 2025, projecting total sales between $660 million and $680 million, lower than the $700 million achieved in the previous year [5] - The company expects to achieve annual net income between $4.5 million and $12.5 million [5] Future Expectations - Lovesac aims for annual net sales growth of 10% to 15% and a 25% improvement in annual profitability [6] - CEO Shawn Nelson expressed optimism about the company's innovative product portfolio, highlighting a recently launched reclining seat as a key growth driver [4] Analyst Sentiment - Analyst Thomas Forte from DA Davidson significantly reduced his price target for Lovesac from $44 to $35 per share following the earnings report, reflecting skepticism about the company's ability to meet its targets [7]