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

Total revenues were $157.3 million compared with $165.8 million in the prior year period. Adjusted for the sale of Fannie May Confection Brands (which closed on May 30, 2017), total revenues increased 1.81 percent.
EPS loss for the quarter was $0.20 per share, compared with a loss of $0.24 per share in the prior year period. Adjusted for the sale of Fannie May, the prior year period EPS loss was $0.201 per share.
Adjusted EBITDA1 was a loss of $10.1 million, compared with an Adjusted EBITDA1 loss of $13.1 million in the prior year period. Reflecting the sale of Fannie May, Adjusted EBITDA1 loss in the prior year period was $9.5 million.

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 first quarter.

Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “During our fiscal first quarter, we saw a continuation of several positive trends in our business. While reported revenues were down approximately five percent, comparable revenues1 – which are adjusted for the sale of the Fannie May business last quarter – increased approximately two percent.”

McCann said that comparable revenue growth in the quarter was primarily driven by the Company’s gourmet food and gift baskets segment, which grew more than four percent in the period, reflecting year-over-year increases in all of its food gift brands. “Importantly, we saw an acceleration of the positive trends in our Harry & David business, which grew more than five percent for the quarter. Combined with growth in our Consumer Floral segment, this more than offset lower sales in BloomNet.”

First Quarter 2018 Financial Results

For the first quarter of 2018, total consolidated revenues were $157.3 million, compared with total consolidated revenues of $165.8 million in the prior year period. On a comparable basis1, total consolidated revenues for the quarter grew 1.8 percent compared with prior year period revenues of $154.6 million (1adjusted for the sale of Fannie May Confection Brands, which closed May 30, 2017). Comparable revenue growth was driven primarily by the Company’s Gourmet Food and Gift Baskets segment, which increased 4.4 percent1. This growth, combined with Consumer Floral segment growth, more than offset lower revenues in the Company’s BloomNet segment. Notably, the Company’s results for the quarter were impacted by the hurricanes in Texas, Florida and Puerto Rico with lost revenues estimated at approximately $1.1 million and Adjusted EBITDA loss impacted by approximately $600,000.

Gross profit margin for the quarter was 42.8 percent, down 20 basis points compared with 43.0 percent in the prior year period. Operating expenses as a percent of total revenues was 55.2 percent, a 180 basis-point improvement compared with 57.0 percent in the prior year period. This primarily reflects the inclusion of Fannie May in the prior year period.

The combination of these factors resulted in an Adjusted EBITDA loss of $10.1 million compared with an Adjusted EBITDA loss of $13.1 million in the prior year period. On a comparable basis, adjusted for the sale of Fannie May, the prior year period Adjusted EBITDA loss was $9.5 million1. The increased loss on a comparable basis reflects the impact of the hurricanes during the quarter.

Net loss was $13.2 million, or $0.20 per share, compared with a net loss of $15.8 million, or $0.24 per share, in the prior year period. On a comparable basis, the net loss in the prior year period was $12.91, or $0.201 per share.
more detail at:  https://investor.1800flowers.com/investors/news-and-events/press-releases/2017/10-31-2017-110053308

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