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.”