1-800-Flowers revenue rises, loss shrinks
An employee wraps a floral arrangement on Oct. 29, 2013, at the 1-800-Flowers headquarters in Carle Place. Credit: Barry Sloan
Carle Place-based 1-800-Flowers.com Inc. Tuesday reported revenue growth for its first quarter, driven by sales of flowers, gourmet foods and gift baskets.
The net loss attributable to the company shrank slightly to $4.25 million from $4.64 million a year earlier. Adjusted earnings before interest, tax, depreciation and amortization improved to $500,000, compared with a loss of $1.3 million for the corresponding period in 2013.
The online florist and gift company said its revenue from continuing operations grew 3 percent from a year earlier, to $126.7 million, for the fiscal 2015 first quarter ending September 28.
"The top and bottom-line improvements we achieved in our fiscal first quarter reflected several positive trends that, we believe, bode well for the important, upcoming holiday season and for the year," 1-800-Flowers chief executive Jim McCann said in a statement.
Gross profit for the first quarter was $53.3 million, compared to $51.4 million in the corresponding period in 2013.
The fiscal first quarter traditionally is the company's quietest due to a lack of gifting holidays during the summer months. Still, the company's consumer floral segment increased revenues 4 percent from a year earlier to $74.4 million, and its gourmet goods and gift baskets segment increased revenues 3.6 percent to $32.4 million.
That growth offset lower revenues in the company's BloomNet business, an international floral wire service provider, which declined 1.6 percent to $20 million due to delays in receiving products caused by dock strikes on the West Coast.
The company reaffirmed its recently updated guidance for fiscal 2015, which now includes anticipated contributions from the $142.5 million acquisition on Sept. 30 of Oregon-based gift basket retailer Harry & David. The firm also anticipates total net revenues from continuing operations will exceed $1.1 billion for the fiscal year.
Shares of 1-800-Flowers slipped 32 cents, or 3.9 percent, to $7.96 Tuesday morning on the Nasdaq stock market.
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