The Lovesac Company (NASDAQ:LOVE) ("Lovesac" or the "Company"), the Designed for Life home and technology brand, today announced that its Board of Directors has authorized the repurchase of up to an additional $40 million of the Company's outstanding common stock, expanding its existing share repurchase program to approximately $54.1 million.

The program is expected to be funded through the Company's existing cash and future free cash flow. The timing, manner, price and amount of any repurchases are determined by the discretion of management, depending on market conditions and other factors. Repurchases may be made through open market purchases, privately negotiated transactions, and accelerated share repurchases. The exact number of shares to be repurchased by the Company, if any, is not guaranteed. Depending on market conditions and other factors, these repurchases may be commenced or suspended at any time or periodically without prior notice.