1-800-Flowers.com Inc. on Wednesday reported a wider net loss in the first quarter, while revenue rose slightly, driven primarily by the company’s gourmet food and gift baskets business.
The Carle Place-based online florist and gift company’s revenue for its fiscal 2017 first quarter ending on Oct. 2, increased 6.3 percent to $165.8 million, compared with $156 million a year earlier.
The company’s net loss was $15.8 million, compared with a net loss of $4.5 million in the same period in 2015.
“Revenue growth accelerated, driven primarily by double-digit growth in our wholesale baskets business as well as in our Cheryl’s and The Popcorn Factory brands,” 1-800-Flowers chief executive Chris McCann said in a statement. “In addition, our Fannie May business recorded positive same store sales as well as solid e-commerce growth.”
Adjusted earnings before interest, tax, depreciation and amortization was a loss of $13.3 million, compared with an adjusted loss of $12 million for the corresponding period in 2015, primarily reflecting higher operating expenses and marketing investments in preparation for the upcoming holiday period.
Adjustments include costs associated with a one-time insurance settlement gain related to the fire on Thanksgiving Day 2014 at its Fannie May warehouse and distribution facility in Ohio.
1-800-Flowers also reiterated its forecast revenue for fiscal 2017 would increase about 4 percent to 5 percent, compared with the reported revenue of $1.17 billion for fiscal 2016.
Shares of 1-800-Flowers rose 60 cents, or 6.7 percent, to close at $9.50 on the Nasdaq Stock Market Wednesday. The shares are up more than 30 percent this year.