Lovesac Company (NASDAQ: LOVE)MGM Resorts International
MGM is a global hospitality and entertainment company that operates destination results. It is an S&P 500 company with national and international locations featuring best-in-class hotels and casinos. It also has state-of-the-art conference spaces and an extensive array of restaurants and retail offerings. MGM is also pursuing targeted expansions in Asia through the integrated resort opportunity in Japan. MGM stock currently trades at $41.59 as of 2:33 p.m. ET and has enjoyed year-to-date gains of over 35% so far. Last week, the company along with Entain provided a business update for BetMGM. BetMGM is a leading sports betting and iGaming operator in the U.S.
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Stamford furniture maker Lovesac posts record results, makes comeback after downsizing
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Sales associate Sean Baker shows one of the “sactionals” available at the Lovesac store in downtown Westport, Conn.Ned Gerard / Hearst Connecticut Media
STAMFORD A year ago, furniture maker Lovesac had temporarily closed its showrooms and announced it would cut most of its workforce in response to the onset of the coronavirus pandemic.
Since then, its prospects have improved dramatically as it has benefited from a boom in furniture sales driven by the increased time millions of Americans are spending at home during the pandemic. The Stamford-based company has re-opened its stores and filled many of the positions affected by the downsizing, as it has markedly grown its customer base.
Operator
Greetings and welcome to The Lovesac s fourth-quarter fiscal 2021 earnings call. [Operator instructions] A question-and-answer session will follow the formal presentation. [Operator instructions] As a reminder, this conference is being recorded. I d now like to turn the conference over to your host, Rachel Schacter, with ICR.
Thank you. You may begin.
Rachel Schacter
Investor Relation
Thank you. Good morning, everyone. With me on the call is Shawn Nelson, chief executive officer; Jack Krause, president and chief operating officer; and Donna Dellomo, chief financial officer. Before we get started, I would like to remind you that some of the information discussed will include forward-looking statements regarding future events and our future financial performance.
Members of the Los Angeles Strike Force arrested eight defendants named in a federal grand jury indictment that alleges a drug trafficking organization operating in Los Angeles and Riverside counties distributed large quantities of methamphetamine, heroin, fentanyl and other narcotics across the United States.
The defendants arrested today – and nine others who are still being sought by authorities – are charged in a 20-count indictment that outlines an 18-month investigation that led to multiple seizures of narcotics, firearms and approximately $1.5 million in drug proceeds.
The indictment alleges that the drug ring was headed by Rigoberto Sanchez Martinez, 36, of Perris, who obtained wholesale quantities of narcotics, oversaw their storage, and coordinated distribution of the drugs to locations that included the states of Washington and New York. Martinez was one of the eight defendants arrested this morning.
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