Fri, Sep 6, 1:31 PM (106 days ago)
1-800-FLOWERS.COM, Inc. reported a challenging fiscal 2024, with revenues declining by 9.2% to $1,831.4 million, primarily due to reduced consumer spending amidst inflation and economic pressures. The company experienced a net loss of $6.1 million, an improvement from a loss of $44.7 million in the previous year. Gross margins increased to 40.1%, driven by a favorable product mix and cost optimization initiatives. Key acquisitions included Card Isle for $3.6 million and Things Remembered for $5.0 million, enhancing its product offerings. However, the company recorded a $19.8 million impairment on the PersonalizationMall tradename due to declining revenue projections. Looking ahead, 1-800-FLOWERS.COM anticipates revenue trends to stabilize, projecting a flat to low-single-digit decline in fiscal 2025, with adjusted EBITDA expected between $85 million to $95 million. The company continues to focus on enhancing customer relationships and expanding its product range, while also managing risks related to macroeconomic conditions and competition in the e-commerce space.