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1-800-Flowers.com sees revenue bloom in 4Q despite Easter sales shifting to 3Q this year

Flower sales blossomed despite the Easter holiday being reflected in the company's third quarter this year

Flower bouquet
Two million customers placed orders with the flower delivery service this quarter

1-800-Flowers.com Inc (NASDAQ:FLWS) missed on earnings but topped revenue estimates in its fiscal-fourth quarter.

The flower delivery company reported a net loss of US$0.13 per share on revenue of US$229.9 compared with a net loss of US$0.11 on revenue of US$239.5mln in the previous year’s first quarter.

The New York-based company beat Wall Street estimates of a net loss of US$0.12 EPS on revenue of $227.4mln.

Shares were down less than 1% to US$14.11 in Thursday pre-market trading.

“During the quarter, we achieved healthy revenue growth in our Consumer Floral and BloomNet segments. This was driven by strong everyday gifting demand combined with a solid Mother’s Day period, which more than offset the impact of the Easter holiday shift,” said CEO Chris McCann in the company’s press release.

The Easter holiday fell into the company’s fiscal third quarter this year. Last year, Easter sales were reflected in its fiscal fourth quarter.

The company welcomed 746,0000 new customers in the quarter. A total of 2 million customers placed orders, of whom 62.9% were returning customers.

Its floral segment revenue blossomed by 4% to US$145mln compared with US$139.4mln last year as a result of strong Mother’s Day sales.

Its gourmet food and gift baskets segment reported a more than 20% drop in revenue to US$ 60.1mln compared with US$78.4mln in the previous fourth quarter as Easter sales were shifted to the third quarter of this year.

Its Bloomnet segment, a floral wire service for professional florists, saw revenues increase by 12.6% to US$24.9mn compared with US$22.1mln in the previous fourth quarter due to increased order volumes.

For the fiscal year, the company is expecting continued revenue growth between 5% to 7% driven by strong performances from its namesake delivery service as well as gourmet food brand Harry & David.

The company expects earnings between US$0.38 to US$0.42 with adjusted EBITDA in a range of US$77mln to US$80mln.

Quick facts: 1-800-Flowers.com Inc

Price: 23.04 USD

NASDAQ:FLWS
Market: NASDAQ
Market Cap: $1.48 billion
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