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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.”
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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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Technology and development expenses increased 5.1% during the three months ended September 29, 2019, compared to the same period of the prior year, primarily due to increased license and maintenance costs required to support the Company's technology platform.
Some of the limitations are: (a) EBITDA and adjusted EBITDA do not reflect changes in, or cash requirements for, the Company's working capital needs; (b) EBITDA and adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company's debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures.
Technology and development expense consists primarily of payroll and operating expenses of the Company's information technology group, costs associated with its websites, including hosting, design, content development and maintenance and support costs related to the Company's order entry, customer service, fulfillment and database systems.
Factors that could cause or contribute to any differences include, but are not limited to, those discussed under the caption "Forward-Looking Information and Factors That May Affect Future Results" and under Part I, Item 1A, of the Company's Annual Report on Form 10-K, for the year ended June 30, 2019 under the heading "Risk Factors."
Net revenues increased 10.5% during the three months ended September 29, 2019, compared to the same period of the prior year, due to growth across all three of the Company's business segments, including the Gourmet Food & Gift Baskets segment, which benefited from strong everyday gifting at Harry & David and 1-800-Baskets.com, combined with a shift into the quarter of some gift basket shipments for certain wholesale customers and revenues from Shari's Berries, which was acquired through bankruptcy auction in August 2019.
The Company presents EBITDA and...Read more
These non-GAAP financial measures are...Read more
Gross profit increased 11.1% during...Read more
The effective rate for fiscal...Read more
The effective rate for the...Read more
The Company also operates BloomNet?,...Read more
Our Annual Report on Form...Read more
Cash Flows Net cash used...Read more
The following table presents the...Read more
Where applicable, see the Segment...Read more
As of September 29, 2019,...Read more
Due to the seasonal nature...Read more
a) Segment performance is measured...Read more
Depreciation and amortization expense during...Read more
The costs of these functions,...Read more
Gross profit percentage increased 30...Read more
General and administrative expense increased...Read more
b) Corporate expenses consist of...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-Q Quarterly Report
Accession Number: 0001437749-19-022111
Submitted to the SEC: Fri Nov 08 2019 8:47:22 AM EST
Accepted by the SEC: Fri Nov 08 2019
Period: Sunday, September 29, 2019
Industry: Retail Stores