FLWS 1-800-FLOWERS.COM Cl A

1-800-FLOWERS.COM, Inc. Reports Fiscal 2025 First Quarter Results

1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2025 first quarter ended September 29, 2024.

“Our first quarter performance generally came in-line with our expectations, as we began to see a slight improvement in our e-commerce revenue trends during the quarter, our gross profit margin continued to grow, and we reduced expenses as a result of our Work Smarter initiatives to operate more efficiently,” said Jim McCann, Chairman and Chief Executive Officer of 1-800-FLOWERS.COM, Inc. “We expect the improvement in our e-commerce revenue trends to accelerate as we move closer to the holiday selling season, and our revenues will further benefit from the growth of wholesale orders this year. Through the Relationship Innovation initiatives that we implemented over the last two years, we have expanded our offerings and broadened our price points, providing gift givers with more choices at prices that span from budget-friendly to premium. We look forward to helping our customers connect and express their sentiments with the important people in their lives.”

Fiscal 2025 First Quarter Highlights

  • Total consolidated revenues decreased 10.0% to $242.1 million, as compared with the prior year period.
  • E-commerce revenues decreased 8.0% over the prior year period, comprised of a 6.5% decline in orders and a 1.5% decline in Average Order Value (AOV).
  • Gross profit margin increased 20 basis points to 38.1%, as compared with the prior year period.
  • Operating expenses declined $0.2 million to $139.3 million, as compared with the prior year period. Excluding the impact of non-recurring charges in the current period associated with new systems implementation costs, as well as the impact of the Company’s non-qualified deferred compensation plan in both periods, operating expenses declined by $4.2 million to $135.8 million, as compared with the prior year period.
  • Net loss for the quarter was $34.2 million, or ($0.53) per share, as compared to a net loss of $31.2 million, or ($0.48) per share in the prior year period.
  • Adjusted Net Loss1 was $32.9 million, or ($0.51) per share, compared with an Adjusted Net Loss1 of $31.2 million, or ($0.48) per share, in the prior year period.
  • Adjusted EBITDA1 loss for the quarter was $27.9 million, as compared with an Adjusted EBITDA1 loss of $22.5 million in the prior year period.
  • 1-800-FLOWERS.COM, Inc. was named one of Newsweek's Most Admired Workplaces for 2025.

Segment Results

The Company provides Fiscal 2025 first quarter financial results for its Gourmet Foods and Gift Baskets, Consumer Floral and Gifts, and BloomNet® segments in the tables attached to this release and as follows:

  • Gourmet Foods and Gift Baskets: Revenues for the quarter declined 14.4% to $84.0 million as compared with the prior year period. This decline reflects the timing of approximately $3.0 million of wholesale orders that shifted from the first quarter into the second quarter. Gross profit margin increased 50 basis points to 32.0%, benefiting from the Company’s inventory optimization efforts and a decline in certain commodity costs. Excluding the impact of the systems implementation costs, adjusted segment contribution margin1 loss was $11.3 million, compared with a loss of $11.0 million in the prior year period.
  • Consumer Floral & Gifts: Revenues for the quarter declined 4.9% to $135.2 million as compared with the prior year period. Gross profit margin increased 30 basis points to 39.9%. Segment contribution margin1 was $4.9 million, compared with $8.8 million in the prior year period.
  • BloomNet: Revenues for the quarter declined 20.1% to $23.1 million as compared with the prior year period. Revenue and gross margin were impacted by the lower volume of lower margin orders processed by BloomNet. Gross profit margin decreased 20 basis points to 50.0% due to deleveraging on the lower sales volume. Segment contribution margin1 was $6.8 million, compared with $9.4 million in the prior year period.

Company Guidance

For Fiscal 2025, the Company continues to expect its revenue trend to improve as the fiscal year progresses benefiting from the Company’s Relationship Innovation initiatives that have expanded the Company’s product offerings, broadened price points, and enhanced the user experience, combined with increased marketing spend. The Adjusted EBITDA range reflects the acknowledgement that the consumer environment remains uncertain.

As a result, for Fiscal 2025 the Company continues to expect:

  • total revenues on a percentage basis to be in a range of flat to a decrease in the low-single digits, as compared with the prior year;
  • Adjusted EBITDA1 to be in a range of $85 million to $95 million; and
  • Free Cash Flow1 to be in a range of $45 million to $55 million.

Conference Call

The Company will conduct a conference call to discuss the above details and attached financial results today, October 31, 2024, at 8:00 a.m. (ET). The conference call will be webcast from the Investors section of the Company’s website at . A recording of the call will be posted on the Investors section of the Company’s website within two hours of the call’s completion. A telephonic replay of the call can be accessed beginning at 2:00 p.m. (ET) today through November 7, 2024, at: (US) 1-877-344-7529; (Canada) 855-669-9658; (International) 1-412-317-0088; enter conference ID #: 1727189.

Definitions of non-GAAP Financial Measures:

We sometimes use financial measures derived from consolidated financial information, but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Certain of these are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules. Non-GAAP financial measures referred to in this document are either labeled as “non-GAAP” or designated as such with a “1”. See below for definitions and the reasons why we use these non-GAAP financial measures. Where applicable, see the Selected Financial Information below for reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures. Reconciliations for forward-looking figures would require unreasonable efforts at this time because of the uncertainty and variability of the nature and amount of certain components of various necessary GAAP components, including, for example, those related to compensation, tax items, amortization or others that may arise during the year, and the Company’s management believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The lack of such reconciling information should be considered when assessing the impact of such disclosures.

EBITDA and Adjusted EBITDA:

We define EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of stock-based compensation, Non-Qualified Plan Investment appreciation/depreciation, and for certain items affecting period-to-period comparability. See Selected Financial Information for details on how EBITDA and Adjusted EBITDA were calculated for each period presented. The Company presents EBITDA and Adjusted EBITDA because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company uses EBITDA and Adjusted EBITDA as factors to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company's credit agreement uses EBITDA and Adjusted EBITDA to determine its interest rate and to measure compliance with certain covenants. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Some of the limitations are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company's working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company's debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Adjusted EBITDA should only be used on a supplemental basis combined with GAAP results when evaluating the Company's performance.

Segment Contribution Margin and Adjusted Segment Contribution Margin

We define Segment Contribution Margin as earnings before interest, taxes, depreciation, and amortization, before the allocation of corporate overhead expenses. Adjusted Segment Contribution Margin is defined as Segment Contribution Margin adjusted for certain items affecting period-to-period comparability. See Selected Financial Information for details on how Segment Contribution Margin and Adjusted Segment Contribution Margin were calculated for each period presented. When viewed together with our GAAP results, we believe Segment Contribution Margin and Adjusted Segment Contribution Margin provide management and users of the financial statements meaningful information about the performance of our business segments. Segment Contribution Margin and Adjusted Segment Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of Segment Contribution Margin and Adjusted Segment Contribution Margin is that they are an incomplete measure of profitability as they do not include all operating expenses or non-operating income and expenses. Management compensates for this limitation when using these measures by looking at other GAAP measures, such as Operating Income and Net Income.

Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:

We define Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share as Net Income (Loss) and Net Income (Loss) Per Common Share adjusted for certain items affecting period-to-period comparability. See Selected Financial Information below for details on how Adjusted Net Income (Loss) Per Common Share and Adjusted or Comparable Net Income (Loss) Per Common Share were calculated for each period presented. We believe that Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share are meaningful measures because they increase the comparability of period-to-period results. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, GAAP Net Income (Loss) and Net Income (Loss) Per Common Share, as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies.

Free Cash Flow:

We define Free Cash Flow as net cash provided by operating activities less capital expenditures. The Company considers Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of fixed assets, which can then be used to, among other things, invest in the Company’s business, make strategic acquisitions, strengthen the balance sheet, and repurchase stock or retire debt. Free Cash Flow is a liquidity measure that is frequently used by the investment community in the evaluation of similarly situated companies. Since Free Cash Flow is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. A limitation of the utility of Free Cash Flow as a measure of financial performance is that it does not represent the total increase or decrease in the Company's cash balance for the period.

About 1-800-FLOWERS.COM, Inc.

is a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships. The Company’s e-commerce business platform features an all-star family of brands, including: ®, ®, ®, ®, ®, ®, ®, , ®, ®, ®, ®, ® and ®. Through the ® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates ®, an international floral and gift industry service provider offering a broad-range of products and services designed to help members grow their businesses profitably; ℠, a resource for floral gifts and seasonal décor; DesignPac Gifts, LLC, a manufacturer of gift baskets and towers; ®, a lifestyle business offering fully digital livestreaming and on demand floral, culinary and other experiences to guests across the country; and ®, an e-commerce greeting card service. was recognized among America’s Most Trustworthy Companies by Newsweek. was also recognized as one of America’s Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit .

FLWS–COMP

FLWS-FN

Special Note Regarding Forward Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “should,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements regarding the Company’s ability to achieve its guidance for the full Fiscal year; the Company’s ability to leverage its operating platform and reduce its operating expense ratio; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic initiatives; its ability to cost effectively acquire and retain customers; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and industry and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company’s SEC filings, including the Company’s Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.

Note: The following tables are an integral part of this press release without which the information presented in this press release should be considered incomplete.

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands)

 

 

September 29,

2024

 

 

June 30,

2024

 

 

 

 

(unaudited)

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

8,407

 

 

$

159,437

 

Trade receivables, net

 

 

41,024

 

 

 

18,024

 

Inventories

 

 

275,323

 

 

 

176,591

 

Prepaid and other

 

 

60,960

 

 

 

31,680

 

Total current assets

 

 

385,714

 

 

 

385,732

 

 

 

 

 

 

 

 

 

Property, plant and equipment, net

 

 

225,239

 

 

 

223,789

 

Operating lease right-of-use assets

 

 

112,926

 

 

 

113,926

 

Goodwill

 

 

156,648

 

 

 

156,537

 

Other intangibles, net

 

 

115,531

 

 

 

116,216

 

Other assets

 

 

38,566

 

 

 

36,448

 

Total assets

 

$

1,034,624

 

 

$

1,032,648

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

 

$

63,732

 

 

$

80,005

 

Accrued expenses

 

 

128,926

 

 

 

121,303

 

Current maturities of long-term debt

 

 

57,500

 

 

 

10,000

 

Current portion of long-term operating lease liabilities

 

 

16,836

 

 

 

16,511

 

Total current liabilities

 

 

266,994

 

 

 

227,819

 

 

 

 

 

 

 

 

 

Long-term debt, net

 

 

172,293

 

 

 

177,113

 

Long-term operating lease liabilities

 

 

104,398

 

 

 

105,866

 

Deferred tax liabilities, net

 

 

18,794

 

 

 

19,402

 

Other liabilities

 

 

38,728

 

 

 

36,106

 

Total liabilities

601,207

 

 

 

566,306

 

Total stockholders’ equity

 

 

433,417

 

 

 

466,342

 

Total liabilities and stockholders’ equity

 

$

1,034,624

 

 

$

1,032,648

 

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Selected Financial Information

Consolidated Statements of Operations

(in thousands, except for per share data)

(unaudited)

 

 

 

Three Months Ended

 

 

 

September 29,

2024

 

 

October 1,

2023

 

Net revenues:

 

 

 

 

 

 

 

 

E-Commerce

 

$

193,174

 

 

$

209,911

 

Other

 

 

48,916

 

 

 

59,139

 

Total net revenues

 

 

242,090

 

 

 

269,050

 

Cost of revenues

 

 

149,771

 

 

 

167,122

 

Gross profit

 

 

92,319

 

 

 

101,928

 

Operating expenses:

 

 

 

 

 

 

 

Marketing and sales

 

 

82,097

 

 

 

82,518

 

Technology and development

 

 

15,639

 

 

 

15,304

 

General and administrative

 

 

28,526

 

 

 

28,489

 

Depreciation and amortization

 

 

13,038

 

 

 

13,194

 

Total operating expenses

 

 

139,300

 

 

 

139,505

 

Operating loss

 

 

(46,981

)

 

 

(37,577

)

Interest expense, net

 

 

3,360

 

 

 

3,482

 

Other (income)/expense, net

 

 

(1,767

)

 

 

474

 

Loss before income taxes

 

 

(48,574

)

 

 

(41,533

)

Income tax benefit

 

 

(14,384

)

 

 

(10,291

)

Net loss

 

$

(34,190

)

 

$

(31,242

)

 

 

 

 

 

 

 

 

Basic and diluted net loss per common share

 

$

(0.53

)

 

$

(0.48

)

 

 

 

 

 

 

 

 

 

Basic and diluted weighted average shares used in the calculation of net loss per common share

 

 

64,198

 

 

 

64,785

 

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Selected Financial Information

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

 

 

Three Months Ended

 

 

 

 

September 29,

2024

 

 

 

October 1,

2023

 

 

 

 

 

 

 

 

 

 

Operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(34,190

)

 

 

$

(31,242

)

 

Adjustments to reconcile net loss to net cash provided by operating activities, net of acquisitions:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

13,038

 

 

 

 

13,194

 

 

Amortization of deferred financing costs

 

 

180

 

 

 

 

180

 

 

Deferred income taxes

 

 

(607

)

 

 

 

(579

)

 

Bad debt expense

 

 

84

 

 

 

 

586

 

 

Stock-based compensation

 

 

2,479

 

 

 

 

2,364

 

 

Other non-cash items

 

 

255

 

 

 

 

270

 

 

Changes in operating items:

 

 

 

 

 

 

 

 

Trade receivables

 

 

(23,025

)

 

 

 

(24,407

)

 

Inventories

 

 

(97,439

)

 

 

 

(89,287

)

 

Prepaid and other

 

 

(29,237

)

 

 

 

(14,764

)

 

Accounts payable and accrued expenses

 

 

(8,806

)

 

 

 

(42

)

 

Other assets and liabilities

 

 

27

 

 

 

 

(157

)

 

Net cash used in operating activities

 

 

(177,241

)

 

 

 

(143,884

)

 

 

 

 

 

 

 

 

 

 

Investing activities:

 

 

 

 

 

 

 

 

Acquisitions, net of cash acquired

 

 

(3,000

)

 

 

 

-

 

 

Capital expenditures

 

 

(12,075

)

 

 

 

(6,974

)

 

Net cash used in investing activities

 

 

(15,075

)

 

 

 

(6,974

)

 

 

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

 

Acquisition of treasury stock

 

 

(1,255

)

 

 

 

(74

)

 

Proceeds from exercise of employee stock options

 

 

41

 

 

 

 

-

 

 

Proceeds from bank borrowings

 

 

45,000

 

 

 

 

35,000

 

 

Repayment of bank borrowings

 

 

(2,500

)

 

 

 

(2,500

)

 

Net cash provided by financing activities

 

 

41,286

 

 

 

 

32,426

 

 

 

 

 

 

 

 

 

 

 

Net change in cash and cash equivalents

 

 

(151,030

)

 

 

 

(118,432

)

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

Beginning of period

 

 

159,437

 

 

 

 

126,807

 

 

End of period

 

$

8,407

 

 

 

$

8,375

 

 

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Selected Financial Information – Category Information

(dollars in thousands)

(unaudited)

 

Three Months Ended

September 29,

2024

System

Implementation

Costs

 

As Adjusted

(non-GAAP)

September 29,

2024

October 1,

2023

%

Change

Net revenues:

 

Consumer Floral & Gifts

$

135,180

 

 

$

135,180

 

$

142,194

 

-4.9

%

BloomNet

 

23,075

 

 

 

23,075

 

 

28,870

 

-20.1

%

Gourmet Foods & Gift Baskets

 

84,003

 

 

 

84,003

 

 

98,109

 

-14.4

%

Corporate

 

89

 

 

 

89

 

 

270

 

-67.0

%

Intercompany eliminations

 

(257

)

 

 

 

(257

)

 

(393

)

34.6

%

Total net revenues

$

242,090

 

$

-

 

$

242,090

 

$

269,050

 

-10.0

%

   

Gross profit:

 

Consumer Floral & Gifts

$

53,929

 

 

$

53,929

 

$

56,322

 

-4.2

%

 

39.9

%

 

 

39.9

%

 

39.6

%

   

BloomNet

 

11,528

 

 

 

11,528

 

 

14,498

 

-20.5

%

 

50.0

%

 

 

50.0

%

 

50.2

%

   

Gourmet Foods & Gift Baskets

 

26,844

 

 

 

26,844

 

 

30,907

 

-13.1

%

 

32.0

%

 

 

32.0

%

 

31.5

%

   

Corporate

 

18

 

 

 

18

 

 

201

 

-91.0

%

 

20.2

%

 

 

20.2

%

 

74.4

%

 

 

 

 

 

Total gross profit

$

92,319

 

$

-

 

$

92,319

 

$

101,928

 

-9.4

%

 

38.1

%

 

-

 

 

38.1

%

 

37.9

%

EBITDA (non-GAAP):

 

 

Segment Contribution Margin (non-GAAP) (a):

 

Consumer Floral & Gifts

$

4,944

 

 

$

4,944

 

$

8,826

 

-44.0

%

BloomNet

 

6,841

 

 

 

6,841

 

 

9,387

 

-27.1

%

Gourmet Foods & Gift Baskets

 

(12,253

)

 

913

 

 

(11,340

)

 

(11,028

)

-2.8

%

Segment Contribution Margin Subtotal

 

(468

)

 

913

 

 

445

 

 

7,185

 

-93.8

%

Corporate (b)

 

(33,475

)

 

867

 

 

(32,608

)

 

(31,568

)

-3.3

%

EBITDA (non-GAAP)

 

(33,943

)

 

1,780

 

 

(32,163

)

 

(24,383

)

-31.9

%

Add: Stock-based compensation

 

2,479

 

 

 

2.479

 

 

2,364

 

4.9

%

Add: Compensation charge related to NQDC Plan Investment Appreciation (Depreciation)

 

1,738

 

 

 

 

1,738

 

 

(504

)

444.8

%

Adjusted EBITDA (non-GAAP)

$

(29,726

)

$

1,780

 

$

(27,946

)

$

(22,523

)

-24.1

%

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Selected Financial Information

(in thousands, except for per share data)

(unaudited)

 

Reconciliation of net loss to adjusted net loss (non-GAAP):

Three Months Ended

September 29,

2024

October 1,

2023

 

Net loss

$

(34,190

)

$

(31,242

)

Adjustments to reconcile net loss to adjusted net loss (non-GAAP)

Add: System Implementation Costs

 

1,780

 

 

-

 

Deduct: Income tax effect on adjustments

 

(527

)

 

-

 

Adjusted net loss (non-GAAP)

$

(32,937

)

$

(31,242

)

 

 

 

 

Basic and diluted net loss per common share

$

(0.53

)

$

(0.48

)

 

 

 

 

Basic and diluted adjusted net loss per common share (non-GAAP)

$

(0.51

)

 

$

(0.48

)

 

 

 

 

 

 

 

 

Weighted average shares used in the calculation of basic and diluted net loss and adjusted net loss per common share

 

 

 

64,198

 

 

 

 

 

 

64,785

 

 

 

 

 

 

 

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Selected Financial Information

(in thousands)

(unaudited)

 
 
 

Reconciliation of net loss to adjusted EBITDA (non-GAAP):

Three Months Ended

September 29,

2024

October 1,

2023

 

Net loss

$

(34,190

)

$

(31,242

)

Add: Interest expense and other, net

 

1,593

 

 

3,956

 

Add: Depreciation and amortization

 

13,038

 

 

13,194

 

Add: Income tax benefit

 

(14,384

)

 

(10,291

)

EBITDA

 

(33,943

)

 

(24,383

)

Add: Stock-based compensation

 

2,479

 

 

2,364

 

Add: Compensation charge related to NQDC plan investment appreciation (depreciation)

 

1,738

 

 

(504

)

Add: System Implementation Costs

 

1,780

 

 

 

-

 

Adjusted EBITDA

$

(27,946

)

 

$

 

(22,523

 

)

 

(a) Segment performance is measured based on segment contribution margin or segment Adjusted EBITDA, reflecting only the direct controllable revenue and operating expenses of the segments, both of which are non-GAAP measurements. As such, management’s measure of profitability for these segments does not include the effect of corporate overhead, described above, depreciation and amortization, other income (net), and other items that we do not consider indicative of our core operating performance.

 

 

 

 

(b) Corporate expenses consist of the Company’s enterprise shared service cost centers, and include, among other items, Information Technology, Human Resources, Accounting and Finance, Legal, Executive and Customer Service Center functions, Stock-Based Compensation, as well as changes in the fair value of the Company's NQDC plan. In order to leverage the Company’s infrastructure, these functions are operated under a centralized management platform, providing support services throughout the organization. The costs of these functions, other than those of the Customer Service Center, which are allocated directly to the above categories based upon usage, are included within corporate expenses as they are not directly allocable to a specific segment.

 

1-800-FLOWERS.COM, Inc. and Subsidiaries

Selected Financial Information

(in thousands)

(unaudited)

 

Reconciliation of net cash used in operating activities to free cash flow (non-GAAP):

 

Three Months Ended

 

September 29, 2024

 

October 1,

2023

Net cash used in operating activities

$

(177,241

)

 

$

(143,884

)

Capital expenditures

 

(12,075

)

 

 

(6,974

)

Free cash flow

$

(189,316

)

 

$

(150,858

)

 

EN
31/10/2024

Underlying

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Reports on 1-800-FLOWERS.COM Cl A

 PRESS RELEASE

1-800-FLOWERS.COM, Inc. Reports Fiscal 2025 First Quarter Results

JERICHO, N.Y.--(BUSINESS WIRE)-- 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2025 first quarter ended September 29, 2024. “Our first quarter performance generally came in-line with our expectations, as we began to see a slight improvement in our e-commerce revenue trends during the quarter, our gross profit margin continued to grow, and we reduced expenses as a result of our Work Smarter initiatives to operate more efficiently,” ...

 PRESS RELEASE

1-800-FLOWERS.COM, Inc. to Release its Fiscal 2025 First Quarter Resul...

JERICHO, N.Y.--(BUSINESS WIRE)-- 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS) (the “Company”), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today announced that the Company will release financial results for its fiscal 2025 first quarter on Thursday, October 31, 2024. The press release will be issued prior to market opening and will be followed by a conference call with members of senior management at 8:00 a.m. (ET). The conference call will be available via live webcast from the Investors section of the Company’...

 PRESS RELEASE

1-800-FLOWERS.COM, Inc. Announces Bill Shea to Retire as Chief Financi...

JERICHO, N.Y.--(BUSINESS WIRE)-- 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today announced that Bill Shea has confirmed his intention to retire as Chief Financial Officer, effective December 29, 2024. The Board of Directors has appointed James Langrock as Chief Financial Officer, effective December 29, 2024. “I want to take this opportunity to congratulate Bill on his upcoming retirement and to thank him for his three decades of tireless commitment to our company,...

 PRESS RELEASE

1-800-FLOWERS.COM, Inc. Reports Fiscal 2024 Fourth Quarter and Year-En...

JERICHO, N.Y.--(BUSINESS WIRE)-- 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2024 fourth quarter and year ended June 30, 2024. “In a dynamic consumer environment that impacted discretionary consumer spending, especially amongst lower income households, our organization was able to grow year-over-year adjusted EBITDA, which benefitted from our significant gross margin recovery and our expense optimization efforts that more than o...

 PRESS RELEASE

1-800-FLOWERS.COM, Inc. to Release its Fiscal 2024 Fourth Quarter and ...

JERICHO, N.Y.--(BUSINESS WIRE)-- 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS) (the “Company”), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today announced that the Company will release financial results for its fiscal 2024 fourth quarter and year-end on Thursday, August 29, 2024. The press release will be issued prior to market opening and will be followed by a conference call with members of senior management at 8:00 a.m. (ET). The conference call will be available via live webcast from the Investors section o...

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