1-800-Flowers.Com Reports Q4 Earnings Below Street Expectation On Inflationary Challenges

  • 1-800-Flowers.Com Inc FLWS reported a fourth-quarter FY22 sales decline of 0.22% year-on-year to $485.89 million, marginally missing the consensus of $486.04 million.
  • Revenues from Gourmet Foods and Gift Baskets fell 2.4% Y/Y, Consumer Floral & Gifts increased 0.4%, and BloomNet climbed 3.2%.
  • Gross profit for the quarter declined 17.3% Y/Y, and the margin decreased 700 basis points to 33.7%.
  • The operating loss for the quarter was $(27) million versus an income of $15.3 million last year.
  • Adjusted EBITDA loss for the quarter was $(16.8) million versus an adjusted EBITDA of $30.2 million last year.
  • Adjusted EPS loss of $(0.34) missed the analyst consensus of $(0.26).
  • 1-800-Flowers.Com held $31.5 million in cash and equivalents as of July 3, 2022. Inventories as of July 3, 2022, increased 60.8% Y/Y to $247.6 million.
  • For FY22, total net revenues increased 4% to $2.21 billion, with EPS of $0.45 and adjusted EPS of $0.50.
  • "The unprecedented, rapid rise in costs impacted our gross margins and operating expenses – including labor, shipping, commodities, and digital marketing," said CEO Chris McCann.
  • Outlook: 1-800-Flowers.Com anticipates Q1 revenues to be down 3.0%-6.0% Y/Y. It sees an adjusted EBITDA loss of $(28.0) million-$(33.0) million.
  • Price Action: FLWS shares are trading lower by 7.72% at $8.01 in premarket on the last check Thursday.
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Posted In: EarningsNewsGuidanceSmall CapBriefs
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