Home furnishings stocks took a hit as the sector cooled in Q1, with five tracked companies missing revenue targets by 2% and lowering future outlooks, dragging shares down an average of 14%. Purple, known for mattresses, suffered the worst, with 8% year-over-year revenue decline, missing forecasts by 6%, and saw its stock plummet 60% since earnings. Meanwhile, Lovesac bucked the trend, holding steady revenue and narrowly beating estimates, delivering the biggest earnings beat and strongest full-year guidance among peers.
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