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1 800 Flowers Com Inc (FLWS) SEC Filing 10-Q Quarterly Report for the period ending Sunday, December 26, 2021

1 800 Flowers Com Inc

CIK: 1084869 Ticker: FLWS
 
 Exhibit 99.1

1-800-FLOWERS.COM, Inc. Reports 7.5 Percent Revenue Growth for Its Fiscal 2022 Second Quarter

  • Total net revenues increased 7.5 percent, or $65.8 million, to $943.0 million, compared with $877.3 million in the prior year period. This revenue growth was on top of the 44.8 percent revenue growth reported in the Company’s 2021 fiscal second quarter.
  • Net income for the quarter was $88.5 million, or $1.34 per diluted share compared with net income of $113.7 million, or $1.71 per diluted share, in the prior year period, primarily reflecting significant year-over-year cost increases for inbound and outbound shipping, labor, and digital marketing. Adjusted net income1 for the quarter was $88.6 million, or $1.34 per diluted share, compared with adjusted net income1 of $114.2 million, or $1.72 per diluted share, in the prior year period.
  • Adjusted EBITDA1 for the quarter was $133.1 million, down 19.0 percent compared with adjusted EBITDA1 of $164.3 million in the prior year period.
  • Company provides revised full-year guidance including revenue growth of 7.0 percent-to-9.0 percent, adjusted EBITDA in a range of $140.0 million-to-$150.0 million and EPS in a range of $0.90 -to- $1.00 per diluted share.

(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.)

JERICHO, N.Y.--(BUSINESS WIRE)--January 27, 2022--1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading e-commerce provider of products and services designed to inspire more human expression, connection, and celebration, today reported results for its fiscal 2022 second quarter ended December 26, 2021.

Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “Our revenue growth of 7.5 percent in the quarter – on top of the 45 percent growth in last year’s fiscal second quarter – reflected continued growth across our three business segments, highlighted by growth of approximately ten percent in our Gourmet Foods and Gift Baskets segment, led by our Harry & David® brand.” McCann noted that, in addition to representing a very challenging year-over-year comparison, the holiday period was characterized by several significant headwinds including limited availability and increased costs for seasonal labor, ongoing supply-chain disruptions that caused shortages of key components for some holiday products and the resurgence of COVID pandemic cases across the country. “The widely reported cost increases associated with these macro headwinds significantly exceeded our expectations during the quarter, impacting our margins and bottom-line results,” he said.

McCann said the Company will continue to invest in its operating platform, including initiatives to bring imported inventory in early and optimize outbound shipping methods as well as automating of its warehouse and distribution facilities to help mitigate the continuing cost headwinds. “Over the longer term, we anticipate these initiatives will enable us to improve our gross margins and drive enhanced bottom-line performance.”

McCann noted that during the second quarter the Company saw continued strong, year-over-year growth in its customer file and in its Celebrations Passport® loyalty program, which helps drive increased purchase frequency, retention, and cross-category/cross-brand purchases. “We also saw double-digit growth in our best performing customer cohort – customers that buy from multiple product categories and multiple brands within a given year. We believe these positive trends will provide increased marketing leverage over the longer term, particularly as we continue to see a larger percentage of our total revenues coming from existing customers.”


The following information was filed by 1 800 Flowers Com Inc (FLWS) on Thursday, January 27, 2022 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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Inside 1 800 Flowers Com Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Current Period Unaudited)
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Operations And Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Note 1 - Accounting Policies
Note 1 - Accounting Policies (Details Textual)
Note 10 - Fair Value Measurements
Note 10 - Fair Value Measurements (Tables)
Note 10 - Fair Value Measurements - Assets And Liabilities Measured At Fair Value (Details)
Note 11 - Income Taxes
Note 11 - Income Taxes (Details Textual)
Note 12 - Business Segments
Note 12 - Business Segments (Details Textual)
Note 12 - Business Segments (Tables)
Note 12 - Business Segments - Disaggregation Of Revenue From Contracts With Customers (Details)
Note 12 - Business Segments - Segment Performance (Details)
Note 13 - Leases
Note 13 - Leases (Tables)
Note 13 - Leases - Lease Costs (Details)
Note 13 - Leases - Maturities Of Lease Liabilities (Details)
Note 14 - Commitments And Contingencies
Note 14 - Commitments And Contingencies (Details Textual)
Note 15 - Accrued Expenses
Note 15 - Accrued Expenses (Tables)
Note 15 - Accrued Expenses - Accrued Expenses (Details)
Note 2 - Net Income Per Common Share
Note 2 - Net Income Per Common Share (Tables)
Note 2 - Net Income Per Common Share - Basic And Diluted Net Income Per Common Share (Details)
Note 3 - Stock-Based Compensation
Note 3 - Stock-Based Compensation (Details Textual)
Note 3 - Stock-Based Compensation (Tables)
Note 3 - Stock-Based Compensation - Allocation Of Stock-Based Compensation To Operating Expenses (Details)
Note 3 - Stock-Based Compensation - Non-Vested Restricted Stock Activity (Details)
Note 3 - Stock-Based Compensation - Stock Option Activity (Details)
Note 3 - Stock-Based Compensation - Stock-Based Compensation Expense Recognized (Details)
Note 4 - Acquisition - Pro Forma Information (Details)
Note 4 - Acquisitions
Note 4 - Acquisitions (Details Textual)
Note 4 - Acquisitions (Tables)
Note 4 - Acquisitions - Preliminary Allocation Of The Purchase Price To The Estimated Fair Values Of Assets Acquired And Liabilities Assumed (Details)
Note 5 - Inventory, Net
Note 5 - Inventory, Net (Tables)
Note 5 - Inventory, Net - Summary Of Inventory (Details)
Note 6 - Goodwill And Intangible Assets, Net
Note 6 - Goodwill And Intangible Assets, Net (Details Textual)
Note 6 - Goodwill And Intangible Assets, Net (Tables)
Note 6 - Goodwill And Intangible Assets, Net - Goodwill By Segment (Details)
Note 6 - Goodwill And Intangible Assets, Net - Other Intangible Assets (Details)
Note 7 - Investments
Note 7 - Investments (Details Textual)
Note 8 - Debt, Net
Note 8 - Debt, Net (Details Textual)
Note 8 - Debt, Net (Tables)
Note 8 - Debt, Net - Summary Of Current And Long-Term Debt (Details)
Note 9 - Property, Plant And Equipment
Note 9 - Property, Plant And Equipment (Tables)
Note 9 - Property, Plant And Equipment - Summary Of Property, Plant And Equipment (Details)
Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

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: 0001437749-22-002465
Submitted to the SEC: Fri Feb 04 2022 12:42:29 PM EST
Accepted by the SEC: Fri Feb 04 2022
Period: Sunday, December 26, 2021
Industry: Retail Stores

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