1-800-FLOWERS.COM, Inc. Reports Results for Its Fiscal 2018 Third Quarter

Total revenues increased 2.1 percent to $238.5 million compared with $233.7 million in the prior year period. On a comparable basis1 (adjusted for the sale of Fannie May Confection Brands, which closed on May 30, 2017) total revenues increased 10.2 percent.
EPS loss for the quarter was $0.13, compared with an EPS loss of $0.17 in the prior year period. On a comparable basis1, EPS loss in the prior year period was $0.15.
Adjusted EBITDA1 was a loss of $3.6 million, compared with a loss of $5.1 million in the prior year period.

1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading gourmet food and floral gift provider for all occasions, today reported results for its Fiscal 2018 third quarter ended April 1, 2018.

Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “During the fiscal third quarter, we achieved top and bottom-line growth across all three of our business segments. This was driven by strong revenue growth for the 1-800-Flowers.com brand, where we further extended our market leading position with revenue growth of nearly nine percent for the quarter and more than ten percent during the key Valentine holiday. In addition, we saw a continuation of accelerated ecommerce growth in Harry & David, which grew at a double-digit pace during the quarter.”

McCann noted that the Company’s BloomNet business returned to top and bottom-line growth during the third quarter, driven by increased sales of wholesale products and digital and web marketing services for local florists. “BloomNet is also seeing increasing order volumes from the 1-800-Flowers brand as well as from shop-to-shop orders. As a result, the business is well positioned to build upon these results and enhance its market position during the current fourth quarter and going forward,” he said.

Third Quarter 2018 Financial Results
For the third quarter of 2018, total revenues increased 2.1 percent to $238.5 million compared with $233.7 million in the prior year period. On a comparable basis1 (adjusted for the sale of Fannie May Confection Brands, which closed on May 30, 2017) total revenues increased 10.2 percent. Comparable revenue growth was driven primarily by strong revenue growth of 8.9 percent in the Company’s Consumer Floral segment, combined with growth of 15.5 percent (adjusted for the sale of Fannie May) in the Company’s Gourmet Foods and Gift Baskets segment. Comparable revenue growth benefited from the shift of the Easter holiday into the period.

Gross profit margin for the quarter was 39.2 percent, compared with 40.0 percent in the prior year period. Comparable gross profit margin for the prior year was 39.9 percent. The lower reported and comparable gross profit margin in the period reflects several factors, including the growth of the Company’s Passport free-shipping program, an increase in the promotional nature of the Valentine holiday this year and continued higher transportation costs. Operating expenses as a percent of total revenues improved 260 basis points to 44.4 percent, compared with reported operating expenses as a percent of total revenues of 47.0 percent in the prior year period. Comparable operating expenses as a percent of total revenues was 46.4 percent in the prior year period.

The combination of these factors resulted in an Adjusted EBITDA loss of $3.6 million compared with an Adjusted EBITDA loss of $5.1 million in the prior year period. Net loss was $8.5 million, or $0.13 per share, compared with a net loss of $11.1 million, or $0.17 per share, in the prior year period. On a comparable basis, net loss was $10.0 million, or $0.15 per share, in the prior year period.
more detail at:  https://investor.1800flowers.com/investors/news-and-events/press-releases/2018/05-01-2018-121428389

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