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CARLE PLACE, N.Y.--(BUSINESS WIRE)--August 22, 2019--1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help customers
express, connect and celebrate, today reported results for its Fiscal 2019 fourth quarter and full year ended June 30, 2019. Chris McCann, CEO, 1-800-FLOWERS.COM, Inc., said, “We entered fiscal 2019 with a plan to accelerate our revenue growth rate by investing behind our lead Harry & David and 1-800-Flowers.com brands and we are very pleased to have exceeded our growth targets, with total revenues increasing more than eight percent driven by strong growth across all three of our business segments. In terms of our bottom-line results, year-over-year contribution margins exceeded our plans in all three business segments with solid growth in total EBITDA, EPS and Free Cash Flow driven primarily by strong performance in our Gourmet Foods and Gift Baskets and BloomNet segments. These results reflect our intense focus on execution and innovation – in our digital marketing programs, in merchandising programs that emphasize new product development and, in our initiatives to constantly improve our business platform to enhance our operating leverage.”Please wait while we load the requested 10-K report or click the link below:
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1 800 Flowers Com Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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In terms of strategic initiatives, during fiscal 2019, the Company: Invested behind our lead brands to accelerate revenue growth - some of the Company's more significant initiatives included mobile-first digital and social commerce marketing programs, merchandising assortments emphasizing new and original product development, including new flavor profiles, and our gourmet lines, which in our Gourmet Food & Gift Baskets segment enabled us to increase our "everyday" gifting volume, Multi-Brand Customer Initiatives - The Company continued to expand its multi-brand customer initiatives, a key ingredient in our strategy to enhance customer engagement and facilitate long-term growth.
In fiscal 2020, the Company expects its gross profit to improve due to sales growth, with gross margins that are consistent with fiscal 2019, as productivity and logistical improvements are expected to largely offset labor and tariff increases.
We believe that adjusted net income and adjusted net income per common share are meaningful measures because they increase the comparability of period to period results.
Under the income approach, the Company uses a discounted cash flow methodology, which requires management to make significant estimates and assumptions related to forecasted revenues, gross profit margins, operating income margins, working capital cash flow, perpetual growth rates, and long-term discount rates, among others.
Depreciation and amortization expense decreased 2.7% during fiscal 2018, due to the disposition of Fannie May.
Net revenues increased 7.1% during...Read more
The Company also continued to...Read more
Net revenues increased 14.9% during...Read more
These customers exhibit the highest...Read more
The Company executed on its...Read more
During fiscal 2018, the 1-800-Flowers.com...Read more
Increased efficiency around our digital...Read more
On a comparable basis, adjusting...Read more
Given the market landscape and...Read more
Some of the limitations are:...Read more
Net revenues increased 4.7% during...Read more
During fiscal 2019, net revenues...Read more
The following table presents the...Read more
Net revenues increased 8.8% during...Read more
Technology and development expense consists...Read more
Depreciation and amortization expense decreased...Read more
For fiscal 2020, the Company's...Read more
See Segment Information below for...Read more
Qualitative factors may include, but...Read more
On a comparable basis, the...Read more
However, the Company understood that...Read more
On a comparable basis, adjusting...Read more
The Company presents EBITDA and...Read more
For fiscal 2020, the Company...Read more
These non-GAAP financial measures are...Read more
General and administrative expense decreased...Read more
During fiscal 2018, the Company...Read more
The Company expects to grow...Read more
This increased marketing spend was...Read more
Technology and development expenses increased...Read more
On a comparable basis, adjusting...Read more
The cost of definite-lived intangible...Read more
Other Intangibles, net Other intangibles...Read more
The Company also operates BloomNet,...Read more
Prior to the setback in...Read more
Comparable segment revenue growth was...Read more
On a comparable basis, adjusting...Read more
Qualitative factors may include, but...Read more
Marketing and sales expense decreased...Read more
Since these are not measures...Read more
This prestigious list, compiled annually...Read more
Estimated interest payments are based...Read more
Gross profit during fiscal 2018...Read more
Other revenues decreased 22.5% during...Read more
Where applicable, see the Segment...Read more
On May 30, 2017, the...Read more
Gross profit decreased 6.0%, while...Read more
On a comparable basis, adjusting...Read more
During May 2019, the Company...Read more
As of June 30, 2019,...Read more
The quantitative impairment test for...Read more
(a) Segment performance is measured...Read more
Disaggregated revenue by channel follows:...Read more
The brand continued its strong...Read more
In addition to the impact...Read more
If the carrying amount of...Read more
If the carrying value exceeds...Read more
Cash Flows Net cash provided...Read more
The costs of these functions,...Read more
In addition, although revenue growth...Read more
Other indefinite-lived intangible assets' fair...Read more
Due to the seasonal nature...Read more
During the fiscal years 2019,...Read more
On a comparable basis, adjusting...Read more
On a comparable basis, adjusting...Read more
General and administrative expense increased...Read more
Liquidity and borrowings The Company's...Read more
During fiscal 2018, net revenues...Read more
Adjusted for the benefit of...Read more
To determine fair value of...Read more
(b) Corporate expenses consist of...Read more
During fiscal year 2019, the...Read more
Gross profit decreased by 11.8%...Read more
Interest expense, net decreased 37.6%...Read more
Financial Statements, Disclosures and Schedules
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1 800 Flowers Com Inc provided additional information to their SEC Filing as exhibits
Ticker: FLWS
CIK: 1084869
Form Type: 10-K Annual Report
Accession Number: 0001437749-19-018360
Submitted to the SEC: Fri Sep 13 2019 8:52:53 AM EST
Accepted by the SEC: Fri Sep 13 2019
Period: Sunday, June 30, 2019
Industry: Retail Stores