1-800-FLOWERS.COM Posts Wider-than-expected Net Loss In Q4; Sees Weak Revenues In Q1

Floral and foods gift retailer and distribution company 1-800-FLOWERS.COM, Inc. (FLWS) reported Thursday that its fourth-quarter net loss was $22.3 million or $0.34 per share, compared with net income of $13.3 million or $0.20 per share, in the prior year period.

Adjusted net loss was $21.8 million, or $0.34 per share, compared to last year’s adjusted net income of $13.3 or $0.20 per share.

On average, four analysts polled by Thomson Reuters expected loss of $0.26 per share for the quarter. Analysts’ estimates typically exclude special items.

The company said its bottom-line results for both the fourth quarter and the full year came in below its expectations.

For the fourth quarter, total net revenues were $485.98 million, down 0.2 percent from $486.98 million in the prior year period. Analysts estimated revenues of $486.81 million for the quarter.

Revenues for the quarter increased 87.3 percent compared to fourth quarter of fiscal 2019, prior to the pandemic.

Looking ahead for the first quarter, the company anticipates revenues will be down in a range of 3.0-to-6.0 percent amid continued cautious consumer spending behavior reflecting the impact of price inflation, particularly in food and gasoline.

The Company anticipates that its Adjusted EBITDA loss for the first quarter will be in a range of $28.0 million-to-$33.0 million.

Further, Chris McCann, CEO, said, “We anticipate that the combination of our investments, along with strategic pricing programs and moderation in cost inputs, will enable us to gradually improve our gross margins and our bottom-line results during the latter half of our current fiscal year.”

In pre-market activity on Nasdaq, 1-800-FLOWERS.COM shares were losing around 3.2 percent to trade at $8.40.

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