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1 800 Flowers Com Inc (FLWS) SEC Filing 10-K Annual report for the fiscal year ending Sunday, June 28, 2015

1 800 Flowers Com Inc

CIK: 1084869 Ticker: FLWS

Exhibit 99.1

1-800-FLOWERS.COM, Inc. Reports Financial Results From Continuing Operations For Its Fiscal 2015 Fourth Quarter and Full Year

Fourth Quarter Highlights:

  • Revenues grew 21.8 percent to $228.3 million, primarily reflecting contributions from Harry & David, combined with growth across all three of the Company’s business segments.
  • Adjusted EBITDA1, excluding stock-based compensation, was a loss of $1.8 million, compared with $11.3 million in the prior year period, primarily reflecting the seasonality of Harry & David.
  • Adjusted EPS1 was a loss of $0.13 per share, compared with a gain of $0.05 per diluted share in the prior year period, primarily reflecting the seasonality of Harry & David.

Full Year Highlights:

  • Revenues grew 48.3 percent to $1.12 billion, compared with $756.3 million in the prior year, reflecting contributions from Harry & David, combined with growth across all three of the Company’s business segments.
  • Adjusted EBITDA2, excluding stock-based compensation, was $95.3 million, compared with $48.2 million in the prior year period.
  • Adjusted EPS2 from continuing operations was $0.51 per diluted share, compared with $0.22 per diluted share in the prior year.

(1Adjusted EBITDA and Adjusted EPS for the fiscal fourth quarter exclude one-time costs associated with the integration of Harry & David which the Company acquired on September 30, 2014; 2Adjusted EBITDA and Adjusted EPS for the fiscal 2015 full year exclude one-time costs associated with the acquisition and integration of Harry & David and the impact of the Fannie May warehouse fire in November 2014.)

CARLE PLACE, N.Y.--(BUSINESS WIRE)--August 27, 2015--1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), the world’s leading florist and gift shop, today reported results for its fiscal 2015 fourth quarter and full year. For the fourth quarter, total revenue from continuing operations increased 21.8 percent to $228.3 million, compared with $187.4 million in the prior year period. The increase primarily reflects contributions from Harry & David, which the Company acquired on September 30, 2014, combined with growth across all three of the Company’s business segments.

Gross profit margin from continuing operations for the quarter increased 40.0 basis points to 43.0 percent reflecting strong gross margins in the Company’s Consumer Floral and BloomNet segments. Operating expense ratio for the quarter increased to 49.3 percent of total net sales, compared with 40.0 percent in the prior year, primarily reflecting increased operating expenses associated with the seasonality of the Harry & David business.

Adjusted EBITDA1 for the quarter, excluding stock-based compensation, was a loss of $1.8 million, reflecting the seasonality of Harry & David. Excluding Harry & David, Adjusted EBITDA1 for the quarter was $10.6 million, down 6.5% compared with $11.3 million in the prior year period, reflecting the shift of some revenues associated with the early-season Easter holiday into the Company’s fiscal third quarter somewhat offset by a strong contribution from BloomNet. Adjusted Net Loss from continuing operations attributable to 1-800-FLOWERS.COM, Inc. for the quarter was $8.7 million, or $0.13 per share, compared with a gain of $3.1million, or $0.05 per diluted share in the prior year period. Excluding Harry & David, Adjusted Net Income attributable to the Company was $1.7 million, or $0.03 per diluted share, compared with $3.1 million, or $0.05 per diluted share, reflecting the aforementioned shift of some Easter revenues into the Company’s third quarter.

Reported EBITDA loss for the quarter, excluding stock-based compensation, was $5.3 million, compared with a gain of $11.3 million in the prior year period. Reported net loss from continuing operations attributable to the Company was $10.7 million, or $0.16 per share, compared with a gain of $3.1 million, or $0.05 per diluted share, in the prior year period.

Fiscal 2015 Full Year Results:

Revenues from continuing operations for the Company’s full fiscal 2015 year grew 48.3 percent to $1.12 billion, compared with $756.3 million in the prior year, reflecting contributions from Harry & David as well as growth across all three of the Company’s business segments. Gross margin for the year increased 170 basis points to 43.4 percent, compared with 41.7 percent in the prior year, reflecting increases in all three of the Company’s business segments. Operating expense ratio for the year was 40.1 percent, compared with 38.5 in the prior year period, reflecting transaction and integration costs, as well as increased operating expenses associated with Harry & David.

Adjusted EBITDA2 for the year, excluding stock-based compensation expense, was $95.3 million, compared with $48.2 million in the prior year. Excluding Harry & David, Adjusted EBITDA1 for the year increased 11.6 percent to $53.8 million, compared with $48.2 million in the prior year period. Adjusted Net Income from continuing operations attributable to 1-800-FLOWERS.COM, Inc. was $34.7 million, or $0.51 per diluted share, compared with $14.6 million, or $0.22 per diluted share, in the prior year. Excluding Harry & David, Adjusted Net Income attributable to the Company was $15.9 million, or $0.24 per diluted share, compared with $14.6 million, or $0.23 per diluted share.

Reported EBITDA for the year, excluding stock-based compensation, was $72.7 million, compared with $48.2 million in the prior year period. Reported net income from continuing operations attributable to the Company was $20.3 million, or $0.30 per diluted share, compared with $14.6 million, or $0.22 per diluted share, in the prior year period. Free Cash Flow for the year was $93.2 million, compared with $19.6 million in the prior year period. This primarily reflected the timing of the Harry & David acquisition which closed on September 30, 2014.


The following information was filed by 1 800 Flowers Com Inc (FLWS) on Thursday, August 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accounting Policies, By Policy (policies)
Document And Entity Information
Note 1 - Description Of Business
Note 1 - Description Of Business (details)
Note 10 - Fair Value Measurements
Note 10 - Fair Value Measurements (details) - Assets And Liabilities Measured At Fair Value
Note 10 - Fair Value Measurements (tables)
Note 11 - Income Taxes
Note 11 - Income Taxes (details)
Note 11 - Income Taxes (details) - Deferred Income Tax Assets (liabilities)
Note 11 - Income Taxes (details) - Effective Income Tax Rate Reconciliation
Note 11 - Income Taxes (details) - Income Tax Provision From Continuing Operations
Note 11 - Income Taxes (tables)
Note 12 - Capital Stock
Note 12 - Capital Stock (details)
Note 13 - Stock-based Compensation
Note 13 - Stock-based Compensation (details)
Note 13 - Stock-based Compensation (details) - Allocation Of Stock-based Compensation To Operating Expenses
Note 13 - Stock-based Compensation (details) - Non-vested Restricted Stock Activity
Note 13 - Stock-based Compensation (details) - Stock Option Activity
Note 13 - Stock-based Compensation (details) - Stock Options Outstanding
Note 13 - Stock-based Compensation (details) - Stock-based Compensation Expense Recognized
Note 13 - Stock-based Compensation (details) - Stock-based Compensation Valuation Assumptions
Note 13 - Stock-based Compensation (tables)
Note 14 - Employee Retirement Plans
Note 14 - Employee Retirement Plans (details)
Note 15 - Business Segments
Note 15 - Business Segments (details)
Note 15 - Business Segments (details) - Segment Performance
Note 15 - Business Segments (tables)
Note 16 - Discontinued Operations
Note 16 - Discontinued Operations (details)
Note 16 - Discontinued Operations (details) - Results For Discontinued Operations
Note 16 - Discontinued Operations (tables)
Note 17 - Commitments And Contingencies
Note 17 - Commitments And Contingencies (details)
Note 17 - Commitments And Contingencies (details) - Future Minimum Payments Under Non-cancelable Operating Leases
Note 17 - Commitments And Contingencies (tables)
Note 18 - Fire At The Fannie May Warehouse And Distribution Facility
Note 18 - Fire At The Fannie May Warehouse And Distribution Facility (details)
Note 18 - Fire At The Fannie May Warehouse And Distribution Facility (details) - Incremental Costs Related To Fannie May Warehouse Fire
Note 18 - Fire At The Fannie May Warehouse And Distribution Facility (tables)
Note 2 - Significant Accounting Policies
Note 2 - Significant Accounting Policies (details)
Note 2 - Significant Accounting Policies (details) - Property, Plant And Equipment
Note 2 - Significant Accounting Policies (tables)
Note 3 - Net Income Per Common Share From Continuing Operations
Note 3 - Net Income Per Common Share From Continuing Operations (details)
Note 3 - Net Income Per Common Share From Continuing Operations (details) - Computation Of Basic And Diluted Net Income (loss) Per Common Share
Note 3 - Net Income Per Common Share From Continuing Operations (tables)
Note 4 - Acquisitions And Dispositions
Note 4 - Acquisitions And Dispositions (details)
Note 4 - Acquisitions And Dispositions (details) - Fair Value Of The Acquisition Purchase Price (iflorist)
Note 4 - Acquisitions And Dispositions (details) - Puchase Price Allocation Of Harry And David
Note 4 - Acquisitions And Dispositions (details) - Puchase Price Allocation Of Iflorist
Note 4 - Acquisitions And Dispositions (details) - Purchase Price Allocation Of Fannie May Retail Stores
Note 4 - Acquisitions And Dispositions (details) - Unaudited Pro Forma Financial Information
Note 4 - Acquisitions And Dispositions (tables)
Note 5 - Inventory
Note 5 - Inventory (details) - Inventory
Note 5 - Inventory (tables)
Note 6 - Goodwill And Intangible Assets
Note 6 - Goodwill And Intangible Assets (details)
Note 6 - Goodwill And Intangible Assets (details) - Goodwill By Segment
Note 6 - Goodwill And Intangible Assets (details) - Other Intangible Assets
Note 6 - Goodwill And Intangible Assets (tables)
Note 7 - Property, Plant And Equipment
Note 7 - Property, Plant And Equipment (details)
Note 7 - Property, Plant And Equipment (details) - Property, Plant And Equipment
Note 7 - Property, Plant And Equipment (tables)
Note 8 - Accrued Expenses
Note 8 - Accrued Expenses (details) - Accrued Expenses
Note 8 - Accrued Expenses (tables)
Note 9 - Long-term Debt
Note 9 - Long-term Debt (details)
Note 9 - Long-term Debt (details) - Current And Long-term Debt Summary
Note 9 - Long-term Debt (tables)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details) - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Ticker: FLWS
CIK: 1084869
Form Type: 10-K Annual Report
Accession Number: 0001437749-15-017184
Submitted to the SEC: Fri Sep 11 2015 2:45:11 PM EST
Accepted by the SEC: Fri Sep 11 2015
Period: Sunday, June 28, 2015
Industry: Retail Stores

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