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1-800-FLOWERS.COM® Reports Top And Bottom Line Growth From Continuing Operations For Its Fiscal 2013 First Quarter

Stocks in this article: FLWS

CATEGORY RESULTS FROM CONTINUING OPERATIONS :

The Company provides selected financial results for its Consumer Floral, BloomNet and Gourmet Foods & Gift Baskets business categories in the tables attached to this release and as follows:

  • 1-800-FLOWERS.COM Consumer Floral: During the fiscal 2013 first quarter, revenues in this category increased 3.8 percent to $72.8 million, compared with $70.1 million in the prior year period. Gross margin for the quarter increased 80 basis points to 38.9 percent, compared with 38.1 percent in the prior year period. Category contribution margin increased 15.4 percent to $6.9 million compared with $6.0 million in the prior year period.
  • BloomNet Wire Service: Revenues increased 6.8 percent to $19.8 million, compared with $18.5 million in the prior year period. Gross profit margin increased 350 basis points to 49.6 percent compared with 46.1 percent in the prior year period primarily reflecting continued enhanced monetization of increased order volumes. Category contribution margin increased 26.2 percent to $5.8 million compared with $4.6 million in the prior year period.
  • Gourmet Food and Gift Baskets: Revenues were essentially unchanged at $28.4 million compared with $28.6 million in the prior year period. This primarily reflects early shipment of some wholesale gift basket orders in the prior year period that shifted to the second quarter in the current year. The Company expects to report an increase in total wholesale gift basket orders for both the current fiscal second quarter and the full year. Gross margin for the fiscal 2013 first quarter was 39.4 percent compared with 39.2 percent in the prior year period. Category contribution margin was a loss of $2.5 million compared with a loss of $1.9 million reflecting the shift in timing of wholesale orders into the second fiscal quarter in the current year.

Company Guidance:

The Company reiterated its top- and bottom-line guidance for fiscal 2013, saying it continues to expect to achieve revenue growth across all three of its business segments with consolidated revenue growth for the year anticipated to be in the mid-single-digit range. Also, based on continued improvements in gross profit margin and operating leverage, the Company anticipates achieving double-digit year-over-year increases in EBITDA and EPS.

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