1-800-FLOWERS.COM, Inc. Reports Results for Its Fiscal 2017 Fourth Quarter and Full Year

Fourth Quarter Highlights:
Total revenues increased 2.2 percent to $239.5 million, compared with $234.4 million in the prior year period. On a comparable basis1, revenues increased 2.9 percent.
EPS was $0.12 per share compared with a loss of $0.17 per share in the prior year period. Adjusted EPS1 was a loss of $0.11 per share compared with a loss of $0.14 per share in the prior year period.
EBITDA1, excluding stock-based compensation, was a loss of $2.2 million, compared with a loss of $6.0 million in the prior year period. Adjusted EBITDA1 was a loss of $1.7 million compared with a loss of $2.9 million in the prior year period.

Full Year Highlights:
Total revenues increased 1.8 percent to $1.19 billion, compared with $1.17 billion in the prior year. On a comparable basis1, revenues increased 3.1 percent.
EPS was $0.65, compared with $0.55 in the prior year period. Adjusted EPS1 was $0.43, unchanged compared with the prior year.
EBITDA1, excluding stock-based compensation, was $85.4 million compared with $82.0 million in the prior year. Adjusted EBITDA1 was $87.2 million compared with $85.7 million in the prior year.

1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), the leading gourmet food and floral gift provider for all occasions, today reported results for its Fiscal 2017 fourth quarter and full year ended July 2, 2017. Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “During the fiscal fourth quarter, we achieved solid revenue growth across all three of our business segments. In our floral businesses, the 1-800-Flowers.com brand continued to grow revenues and extend its market leadership position. This was driven by strong everyday gifting demand combined with solid growth for the Mother’s Day holiday period. These factors also benefited BloomNet, which continued its recent trend of revenue growth. In our Gourmet Food and Gift Baskets segment, revenues for the quarter benefited from the shift of the Easter holiday into the quarter combined with increasing sales for every-day gifting occasions for our Harry & David, Cheryl’s Cookies, The Popcorn Factory and 1-800-Baskets brands. Increasing customer awareness of the everyday gifting offerings in our gourmet food gift brands is a key focus and we are pleased with the progress we are making in this area.”

Fiscal Fourth Quarter Results
Total consolidated revenue for the period increased 2.2 percent to $239.5 million, compared with $234.4 million in the prior year period. On a comparable basis, total consolidated revenues for the quarter increased 2.9 percent reflecting growth in all three of the Company’s business segments. Gross profit margin for the quarter was 41.0 percent, compared with 42.9 percent in the prior year period, primarily reflecting a combination of product mix, the promotional environment at Mother’s Day and increased shipping expenses. Operating expense as a percent of total sales improved 400 basis points to 45.6 percent, compared with 49.6 percent in the prior year period.

Net income attributable to the Company for the quarter was $8.0 million, or $0.12 per share, compared with a net loss of $11.1 million, or ($0.17) per share, in the prior year period. Adjusted net loss1 for the quarter, primarily reflecting the exclusion of the gain on the sale of the Fannie May business, was $7.2 million, or ($0.11) per share, compared with an adjusted net loss of $9.0 million, or ($0.14) in the prior year period.

The EBITDA1 loss, excluding stock-based compensation, for the quarter was $2.2 million, compared with a loss of $6.0 million in the prior year period. Adjusted EBITDA1, excluding stock-based compensation, was a loss of $1.7 million, compared with a loss of $2.9 million in the prior year period. The year-over-year improvement in EBITDA and Adjusted EBITDA reflects the benefit of the shift of the Easter holiday into the fourth quarter, compared with the prior year when the holiday fell in the Company’s third quarter. This was somewhat offset by the timing of the close of the Company’s sale of the Fannie May Confection Brands business during the quarter and the timing of the Harry & David Fruit of the Month Club® cherry shipment which, due to a late harvest, moved from the fiscal 2017 fourth quarter to the first quarter of fiscal 2018.

Fiscal 2017 Full Year Results
Total consolidated revenues for the full fiscal year increased 1.8 percent to $1.19 billion, compared with $1.17 billion in the prior year. On a comparable basis, year-over-year revenues increased 3.1 percent. Revenue growth was driven primarily by the Company’s Consumer Floral segment which achieved revenue growth of 4.5 percent (5.7 percent on a comparable basis), reflecting continued expansion of the 1-800-Flowers.com brand’s market leadership. Gross profit margin for the year was 43.6 percent, compared with 44.1 percent in the prior year. Operating expense as a percent of total revenues was 39.7 percent, compared with 40.4 percent in the prior year.

Net Income attributable to the Company was $44.0 million, or $0.65 per fully-diluted share, compared with $36.9 million, or $0.55 per diluted share in the prior year. Adjusted net income attributable to the Company was $29.2 million, or $0.43 per fully-diluted share, compared with $28.5 million, or $0.43 per diluted share in the prior year period.

EBITDA, excluding stock based compensation, for the year of $85.4 million, compared with $82.0 million in the prior year. Adjusted EBITDA for fiscal 2017, excluding stock-based compensation, was $87.2 million, compared with $85.7 million in the prior year.

McCann said, “Our comparable revenue growth in fiscal 2017 represents an acceleration compared with the past few years. Importantly, we see several positive trends in all three of our business segments including growing everyday gifting in our gourmet food gift brands, further expansion of the 1-800-Flowers brand’s market leadership, renewed revenue growth in BloomNet and an increasing number of customers who are shopping across our multiple brand offerings. We believe these factors, among others, will enable us to continue to drive top and bottom-line growth in fiscal 2018. In addition, our strong cash flows and balance sheet – which was further bolstered by the more than $100 million we recently received from the sale of the Fannie May business – provides us with significant flexibility to enhance our growth through acquisitions.”
more detail at:  https://investor.1800flowers.com/investors/news-and-events/press-releases/2017/08-24-2017-123056444

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