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1 800 Flowers Com Inc (FLWS) SEC Filing 10-Q Quarterly Report for the period ending Sunday, October 2, 2022

1 800 Flowers Com Inc

CIK: 1084869 Ticker: FLWS
Exhibit 99.1

1-800-FLOWERS.COM, Inc. Reports Fiscal 2023 First Quarter Results

First Quarter Results Slightly Exceeded Guidance

Company Issues Fiscal 2023 Full Year Guidance

Expects Fiscal 2023 Adjusted EBITDA1 to be in a range of $75 million to $80 million

Expects to Generate Free Cash Flow1 in Excess of $75 million in Fiscal Year 2023; Representing a More Than $135 Million Improvement as Compared to the Prior Year

(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)--November 3, 2022--1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2023 first quarter ended October 2, 2022.

Fiscal 2023 First Quarter Highlights

  • Total consolidated revenues decreased 1.9% to $303.6 million, compared with total consolidated revenues of $309.4 million in the prior year period.
  • Gross profit margin for the quarter was 33.4%, compared with 40.6% in the prior year period.
  • Operating expenses were 47.0% of total sales, as compared with 47.1% in the prior year period.
  • Net loss for the quarter was $33.7 million, or $(0.52) per share, compared with a net loss of $13.2 million, or $(0.20) per share in the prior year period.
  • Adjusted EBITDA loss1 for the quarter was $28.0 million, as compared to an Adjusted EBITDA loss1 of $5.3 million in the prior year period.

Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said, “Our first quarter results were slightly better than our expectations, benefitting from the strength in our Gourmet Foods and Gift Baskets business. During the quarter, we saw consumers purchasing fewer everyday gifts as they responded to the significant macro-inflationary pressures affecting their discretionary spending. However, as we look out to the holiday season and the balance of our fiscal year, we are cautiously optimistic that consumers will spend during the major gift giving holiday occasions, while we anticipate they will remain guarded on their spending otherwise.”


The following information was filed by 1 800 Flowers Com Inc (FLWS) on Thursday, November 3, 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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1 800 Flowers Com Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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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 Operations And Comprehensive Income (Loss) (Unaudited)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Stockholders' Equity
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 - Accrued Expenses
Note 14 - Accrued Expenses (Tables)
Note 14 - Accrued Expenses - Accrued Expenses (Details)
Note 15 - Commitments And Contingencies
Note 15 - Commitments And Contingencies (Details Textual)
Note 2 - Net Income (Loss) Per Common Share
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-Based Compensation Expense Recognized (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
Note 5 - Inventory (Tables)
Note 5 - Inventory - Summary Of Inventory (Details)
Note 6 - Goodwill And Intangible Assets
Note 6 - Goodwill And Intangible Assets (Details Textual)
Note 6 - Goodwill And Intangible Assets (Tables)
Note 6 - Goodwill And Intangible Assets - Goodwill By Segment (Details)
Note 6 - Goodwill And Intangible Assets - 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: 0001437749-22-027140
Submitted to the SEC: Mon Nov 14 2022 11:55:18 AM EST
Accepted by the SEC: Mon Nov 14 2022
Period: Sunday, October 2, 2022
Industry: Retail Stores

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