Business
1-800-FLOWERS.COM, Inc. Reports Strong Revenue Growth for its Fiscal 2020 Third Quarter; Reaffirms Guidance for Strong Top and Bottom-Line Growth for the Full Fiscal 2020 Year
Total net revenues increased 12.2 percent to $278.8 million compared with $248.4 million in the prior year period. Net loss was $9.7 million, or a loss of
About this update from 1-800-flowers.com, Inc.
[{"type":"text","content":"\n\nTotal net revenues increased 12.2 percent to $278.8 million compared with $248.4 million in the prior year period. \n\n\nNet loss was $9.7 million, or a loss of $0.15 per share. Excluding transaction costs, adjusted net loss1 was $9.0 million, or a loss of $0.14 per share, compared with a net loss of $8.2 million, or a loss of $0.13 per share in the prior year period.\n\n\nAdjusted EBITDA1 was a loss of $2.4 million, compared with a loss of $4.4 million in the prior year period. \n\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 (“Adjusted”) results to applicable GAAP results.)\n\n CARLE PLACE, N.Y.--(BUSINESS WIRE)--\n1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help customers express, connect and celebrate, today reported results for its Fiscal 2020 third quarter ended March 29, 2020.\n\n\nChris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “Our solid results for the fiscal third quarter reflect the continuation of the momentum we saw throughout the first half of our fiscal year. Strong consolidated revenue growth of 12.2 percent was driven by increases across all three of our business segments. In our Gourmet Foods and Gift Baskets segment, revenues increased 27.1 percent, reflecting continuing positive trends in everyday gifting occasions and increased self-consumption as well as contributions from Shari’s Berries, which we acquired in August 2019.\n\n\n“In our Consumer Floral segment, the 1-800-Flowers.com brand further extended its market leading position with revenue growth of 5.4 percent, driven by double-digit revenue growth during the Valentine’s Day holiday period. Our BloomNet business also continued to increase its market share position with revenues growing 7.9 percent in the quarter. In both Consumer Floral and BloomNet, top and bottom-line results for the quarter would have been even stronger were it not for softer consumer demand in the last few weeks of March related to the impact of the Covid-19 crisis. We saw this pattern reverse as we entered our current fiscal fourth quarter and demand has increased significantly as consumers are increasingly turning to the 1-800-Flowers brand to help them express themselves and stay connected.”\n\n\n\n\nMcCann added, “As we navigate t...