62° Good Evening
62° Good Evening
Business revenue grows in quarter

1-800-Flowers, based in Carle Place, reported revenue growth

1-800-Flowers, based in Carle Place, reported revenue growth in the fiscal 2017 fourth quarter. Photo Credit: Barry Sloan Inc. on Thursday reported higher revenue for its fourth quarter and fiscal year, as its three business segments — gourmet food gift brands, consumer floral and wire service — all grew.

The Carle Place-based company also swung to an $8 million profit in the fiscal 2017 fourth quarter, ended July 2, from a loss of $11.1 million in the year-earlier period.

Adjusting for one-time items, the company had a net loss of $7.2 million, versus a net loss of $9 million a year earlier, after excluding the gain on the sale of the Fannie May Confection Brands business on May 30.

Revenue for the quarter was $239.5 million, an increase of 2.2 percent compared with $234.4 million a year earlier.

The floral business “was driven by strong everyday gifting demand combined with solid growth for the Mother’s Day holiday period,” 1-800-Flowers chief executive Chris McCann said in a statement. “These factors also benefited BloomNet, which continued its recent trend of revenue growth.

“In our Gourmet Food and Gift Baskets segment, revenues for the quarter benefited from the shift of the Easter holiday into the quarter combined with increasing sales for every-day gifting occasions for our Harry & David, Cheryl’s Cookies, The Popcorn Factory and 1-800-Baskets brands.”

For the fiscal year, revenue grew 1.8 percent to $1.19 billion, compared with $1.17 billion in the prior year.

For the fiscal year, the company’s net income was $44 million, compared with $36.9 million in the prior year. Adjusted net income was $29.2 million, compared with $28.5 million in the prior year period.

For Fiscal 2018, 1-800-Flowers forecast its revenue would be in the range of $1.14 billion to $1.16 billion, reflecting the Fannie May sale in fiscal 2017.

Shares of 1-800-Flowers fell 90 cents, or 10.11 percent, to close at $8 on the Nasdaq Stock Market Thursday. The shares are down more than 15 percent in the past 12 months.


We're revamping our Comments section. Learn more and share your input.

More news