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1-800-FLOWERS.COM Inc. (FLWS-0.31%) has submitted its 10-Q filing for the quarterly period ended December 29, 2024.
The filing reports a decrease in total consolidated revenues by 5.7% to $775.5 million for the quarter and 6.7% to $1,017.6 million for the six months ended December 29, 2024, compared to the same periods in the previous year.
E-commerce revenues decreased by 8.3% for the quarter and 8.2% for the six months, attributed to a decline in demand across all segments and a shift towards lower price point items.
The Consumer Floral & Gifts segment reported a revenue decrease of 8.0% for the quarter and 6.9% for the six months, impacted by economic pressures and competitive promotions.
BloomNet segment revenues declined by 16.2% for the quarter and 18.2% for the six months, due to lower service revenues and order volumes.
Gourmet Foods & Gift Baskets segment revenues fell by 4.0% for the quarter and 5.6% for the six months, with e-commerce sales impacted by lower demand and an order management system implementation.
The company recorded a gross profit of $335.6 million for the quarter, a decrease of 5.7% from the previous year, with a gross profit margin remaining stable at 43.3%.
Operating expenses were reported at $244.5 million for the quarter, slightly lower than the previous year, with marketing and sales expenses decreasing by 0.8%.
Net income for the quarter was reported at $64.3 million, with a diluted net income per common share of $1.00.
Cash provided by operating activities was $151.3 million for the six months ended December 29, 2024, while cash used in investing and financing activities was $26.0 million and $37.5 million, respectively.
The company completed the acquisition of Scharffen Berger and Card Isle, expanding its product offerings in the Gourmet Foods & Gift Baskets segment and greeting card category.
1-800-FLOWERS.COM updated its fiscal 2025 guidance, expecting total revenues to decline in the mid-single digits and adjusted EBITDA to be in the range of $5 million to $5 million.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the 1-800-FLOWERS.COM Inc. quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.