Business
1-800-FLOWERS.COM, Inc. Reports 7.5 Percent Revenue Growth for Its Fiscal 2022 Second Quarter
Total net revenues increased 7.5 percent, or $65.8 million, to $943.0 million, compared with $877.3 million in the prior year period. This revenue growth was
About this update from 1-800-flowers.com, Inc.
[{"type":"text","content":"\n\nTotal net revenues increased 7.5 percent, or $65.8 million, to $943.0 million, compared with $877.3 million in the prior year period. This revenue growth was on top of the 44.8 percent revenue growth reported in the Company’s 2021 fiscal second quarter.\n\n\nNet income for the quarter was $88.5 million, or $1.34 per diluted share compared with net income of $113.7 million, or $1.71 per diluted share, in the prior year period, primarily reflecting significant year-over-year cost increases for inbound and outbound shipping, labor, and digital marketing. Adjusted net income1 for the quarter was $88.6 million, or $1.34 per diluted share, compared with adjusted net income1 of $114.2 million, or $1.72 per diluted share, in the prior year period.\n\n\nAdjusted EBITDA1 for the quarter was $133.1 million, down 19.0 percent compared with adjusted EBITDA1 of $164.3 million in the prior year period.\n\n\nCompany provides revised full-year guidance including revenue growth of 7.0 percent-to-9.0 percent, adjusted EBITDA in a range of $140.0 million-to-$150.0 million and EPS in a range of $0.90 -to- $1.00 per diluted share.\n\n\n(1 Refer to “Definitions of Non-GAAP Financial Measures” and the tables attached at the end of this press release for reconciliation of non-GAAP results to applicable GAAP results.)\n\n JERICHO, N.Y.--(BUSINESS WIRE)--\n1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading e-commerce provider of products and services designed to inspire more human expression, connection, and celebration, today reported results for its fiscal 2022 second quarter ended December 26, 2021.\n\nChris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “Our revenue growth of 7.5 percent in the quarter – on top of the 45 percent growth in last year’s fiscal second quarter – reflected continued growth across our three business segments, highlighted by growth of approximately ten percent in our Gourmet Foods and Gift Baskets segment, led by our Harry & David® brand.” McCann noted that, in addition to representing a very challenging year-over-year comparison, the holiday period was characterized by several significant headwinds including limited availability and increased costs for seasonal labor, ongoing supply-chain disruptions that caused shortages of key components for some holiday products and the resurgence of COVID pandemic cases across the coun...