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1-800-FLOWERS.COM, Inc. Reports Strong Fiscal 2020 First Quarter Revenue Growth, Improved EPS and Adjusted EBITDA
- Total net revenues increased 10.5 percent to $187.3 million compared with the prior year period, driven by strong growth across all three of the Company’s business segments.
- Net loss for the quarter was $15.3 million, or ($0.24) per share, an improvement of $0.03 per share, compared with the prior year period.
- Adjusted EBITDA1 for the quarter improved 18.6 percent, or $2.6 million, to a loss of $11.3 million, compared with the prior year period.
(1 Refer 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)--October 31, 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 2020 first quarter ended September 29, 2019.
Chris McCann, CEO, 1-800-FLOWERS.COM, Inc., said “Our strong revenue growth and improved bottom-line results for the first quarter are a continuation of the positive momentum we saw throughout last year. These results reflect the leverage we are getting from the investments we have made – and continue to make – in our iconic Harry & David and 1-800-Flowers.com brands, as well as in our BloomNet business. The double-digit revenue growth for the period reflected solid growth across all three of our business segments, highlighted by the nearly eighteen percent growth achieved in our Gourmet Foods and Gift Baskets segment. This segment benefited from strong everyday gifting at Harry & David and 1-800-Baskets.com combined with increased orders for gift baskets from wholesale customers and revenues from the Shari’s Berries brand, which we acquired in mid-August.”
McCann also said that the Company’s Consumer Floral and BloomNet segments both achieved solid increases in revenues, gross margin and contribution margin for the quarter. “In our floral businesses, we are continuing to extend the market leadership of 1-800-Flowers.com and grow BloomNet’s market share. We expect these trends to continue throughout the fiscal year as we benefit from the investments we are making in targeted marketing programs and innovative new products and services.”
The following information was filed by 1 800 Flowers Com Inc (FLWS) on Thursday, October 31, 2019 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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