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1-800-FLOWERS.COM, Inc. Reports Results for Its Fiscal 2019 First Quarter
- Total revenues increased 7.7 percent to $169.5 million compared with $157.3 million in the prior year period, driven by double digit growth in the Company’s 1-800-Flowers and BloomNet businesses.
- EPS loss for the quarter was $0.27 per share, compared with a loss of $0.20 per share in the prior year period. The increased EPS loss primarily reflects the impact of the 2017 Tax Cuts and Jobs Act on the Company’s effective tax rate, the adoption of ASC1 606 and the timing of certain shipments in the Company’s Gourmet Foods and Gift Baskets segment.
- Adjusted EBITDA2 was a loss of $13.9 million, compared with an Adjusted EBITDA loss of $10.1 million in the prior year period. The increased Adjusted EBITDA loss primarily reflects the adoption of ASC 606, as well as the timing of certain shipments in the Company’s Gourmet Foods and Gift Baskets segment.
(1Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606); 2Refer 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.)
CARLE PLACE, N.Y.--(BUSINESS WIRE)--November 1, 2018--1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), a leading gourmet food and floral gift provider for all occasions, today reported results for its Fiscal 2019 first quarter. Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said “The strong revenue growth that we achieved in the fiscal first quarter was driven by double-digit increases in our 1-800-Flowers and BloomNet businesses. These results reflect the continuation of several positive trends, particularly the further expansion of the 1-800-Flowers brand’s leadership position in the consumer floral space and the significant order volume growth in our BloomNet business. These trends reflect the investments we have been making to take advantage of market conditions to drive sustainable, accelerated growth.”
The following information was filed by 1 800 Flowers Com Inc (FLWS) on Thursday, November 1, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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