1-800-Flowers.Com Shares Slide After Q4 Results

  • 1-800-Flowers.Com Inc FLWS reported fourth-quarter FY21 revenue growth of 16.5% year-on-year, to $486.98 million, beating the analyst consensus of $472.76 million.
  • Revenues from Gourmet Foods and Gift Baskets fell 1.1% Y/Y, Consumer Floral & Gifts increased 27.2%, and BloomNet climbed 23.5%.
  • Gross profit for the quarter rose 16.9% Y/Y and the gross profit margin for the quarter increased 20 basis points to 40.7%.
  • The operating margin was 3.1%, and operating income for the quarter rose 24% to $15.3 million.
  • Adjusted EBITDA of $30.2 million declined 7.1% Y/Y.
  • EPS of $0.20 beat the analyst consensus of $0.19.
  • 1-800-Flowers.Com held $173.6 million in cash and equivalents as of June 27, 2021.
  • Net cash provided by operating activities for the year totaled $173.2 million.
  • For FY21, Total net revenues increased 42.5% to $2.12 billion, with EPS of $1.78 and adjusted EPS of $1.84.
  • Outlook: 1-800-Flowers.Com expects FY22 sales growth of 10 – 12%, representing $2.33 billion - $2.37 billion, versus the consensus of $2.32 billion. It sees EPS in line with FY21.
  • Price Action: FLWS shares are trading lower by 8.48% at $28.17 in premarket on the last check Thursday.
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