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1-800-Flowers reports loss in first quarter
1-800-Flowers reported a $4.6 million loss in the past quarter compared to a loss of $740,000 in the same period last year. Sales for the Carle Place-based florist last quarter were $120.9 million, an increase from $117.2 million in 2011.
The company attributed to the low figures to the lack of a gifting holiday over the summer months which the quarter covered.
The past quarter saw a loss of seven cents per share for investors, compared to a gain of one cent per share last year, according to the earnings report. The earnings per share is in line with analyst estimates.
"We remain cognizant of the continued challenges in the current environment and, as such, will continue to focus on managing those aspects of our business that we can control and thereby drive enhanced top and bottom-line results," chief executive Jim McCann said in a news release.
McCann added that the current quarter is historically the strongest in revenues and profits for the company's Gourmet Food and Gift Basket division because of the holiday season.
1-800-Flowers also maintained its guidance for the next year, expecting revenue and earnings to grow.
The company's stock is trading up 1.16 percent around $3.48 per share Thursday morning.
Photo: Jim McCann, the chief executive of 1-800-Flowers.com, at his offices in Carle Place.