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1-800-Flowers.com reports narrower net loss in quarter

1-800-Flowers Inc. reported a net loss of $13.2

1-800-Flowers Inc. reported a net loss of $13.2 million in the fiscal 2018 first quarter, ended Oct. 1, compared with a loss of $15.8 million in the year-earlier period. Credit: Barry Sloan

1-800-Flowers.com Inc. on Tuesday reported a narrower net loss and a slight drop in revenue for its first quarter, affected by lower sales due to the recent hurricanes and the sale of the Fannie May Confection Brands business on May 30.

The Carle Place-based online florist and gift company reported a net loss of $13.2 million in the fiscal 2018 first quarter, ended Oct. 1, compared with a loss of $15.8 million in the year-earlier period.

Revenue for the quarter was $157.3 million compared with $165.8 million a year earlier.

“While reported revenues were down approximately five percent, comparable revenues — which are adjusted for the sale of the Fannie May business last quarter — increased approximately two percent,” chief executive Chris McCann said in a statement.

Comparable revenue growth was driven primarily by gift basket brand Harry & David, where sales increased more than five percent during the quarter.

1-800-Flowers’ results for the quarter were affected by Hurricanes Harvey, Irma and Maria, with lost revenue estimated at about $1.1 million. The company was not able to make deliveries in parts of Texas and Florida.

Revenue for the quarter for the BloomNet Wire Service were $19.8 million, compared with $21 million in the prior year period. The drop partially reflected BloomNet’s decision to waive all monthly fees for August and September for florists in hurricane affected areas, mainly Texas and Florida, some in Georgia and a few in Puerto Rico, said Joseph D. Pititto, senior vice president of investor relations for 1-800-Flowers.

1-800-Flowers also provided florists with vases, flowers, packaging, marketing materials, and computer equipment in areas where flooding ruined their equipment and supplies, Pititto said.

For fiscal 2018, 1-800-Flowers reiterated its revenue forecast would be in the range of $1.14 billion to $1.16 billion.

Shares of the company rose 5 cents to close at $9.40 on Tuesday in Nasdaq trading. The shares are down about 1.6 percent in the past 12 months.

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