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1-800-FLOWERS.COM, Inc. Reports Continued Positive Trends In Top And Bottom-Line Growth For Its Fiscal 2013 Second Quarter

Stocks in this article: FLWS

1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), the world’s leading florist and gift shop, today reported revenues from continuing operations of $253.0 million for its fiscal 2013 second quarter ended December 30, 2012, compared with revenues from continuing operations of $239.8 million in the prior year period. The Company said the 5.5 percent increase, or $13.2 million, reflected growth across all three of its business segments, driven primarily by its Gourmet Food and Gift Baskets segment, which grew 8.9 percent, or $11.6 million, to $142.7 million compared with $131.1 million in the prior year period.

Gross profit margin for the quarter was 41.3 percent compared with 41.8 percent in the prior year period, primarily reflecting product mix associated with strong wholesale gift basket growth in the Company’s Gourmet Food and Gift Baskets segment. Operating expenses as a percent of revenue improved 60 basis points to 31.0 percent compared with 31.6 percent in the prior year period. The improved operating expense ratio primarily reflects the increased revenues for the quarter as well as the Company’s continued focus on improving leverage across its business platform.

Adjusted EBITDA from continuing operations for the quarter increased 3.6 percent to $31.8 million compared with Adjusted EBITDA of $30.7 million in the prior year period. Net income from continuing operations was $16.0 million, or $0.24 per diluted share, compared with adjusted net income from continuing operations of $14.3 million, or $0.22 per diluted share, in the prior year period.

Jim McCann, CEO of 1-800-FLOWERS.COM, said, “During the fiscal second quarter we achieved top and bottom line growth in all three of our business segments, continuing a trend that we have seen for two years now. This was achieved despite a combination of the significant headwinds that characterized the quarter, including the impacts of Superstorm Sandy on deliveries and customer demand and the effects of weakening consumer confidence, particularly in December, stemming from worries over the “fiscal cliff.”

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