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Earnings Review and Free Research Report: 1-800-FLOWERS' Revenue Grew 2.2%

Friday, 15 September 2017 07:50 AM

Pro-Trader Daily

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Research Desk Line-up: Zumiez Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FLWS, following the Company's release of its fourth quarter fiscal 2017 financial results on August 24, 2017. The flower and gift retailer beat revenue expectations and provided guidance for the fiscal year. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Specialty Retail, Other industry. Pro-TD has currently selected Zumiez Inc. (NASDAQ: ZUMZ) for due-diligence and potential coverage as the Company reported on September 07, 2017, its financial results for Q2 2017 which ended on July 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on Zumiez when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FLWS; also brushing on ZUMZ. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=FLWS

http://protraderdaily.com/optin/?symbol=ZUMZ

Earnings Reviewed

1-800-FLOWERS' total consolidated revenue for the quarter increased 2.2% to $239.5 million compared to $234.4 million in Q4 FY16. On a comparable basis, total consolidated revenues for the reported quarter increased 2.9% on a y-o-y basis reflecting growth in all three of the Company's business segments. The Company's revenue beat analysts' expectations of $246.4 million. For FY17, 1-800-FLOWERS' total consolidated revenues grew 1.8% to $1.19 billion compared to $1.17 billion in Q4 FY16.

For Q4 FY17, 1-800-FLOWERS' gross profit margin was 41.0% compared to 42.9% in Q4 FY16, primarily reflecting a combination of product mix, the promotional environment at Mother's Day and increased shipping expenses. The Company's operating expense as a percent of total sales improved 400 basis points to 45.6% in the reported quarter compared to 49.6% in the prior year's same period.

Net income attributable to 1-800-FLOWERS was $8.0 million, or $0.12 per share, for Q4 FY17 compared to a net loss of $11.1 million, or $0.17 per share, in Q4 FY16. The Company's adjusted net loss for the reported quarter, primarily reflecting the exclusion of the gain on the sale of the Fannie May business, was $7.2 million, or $0.11 per share, compared to an adjusted net loss of $9.0 million, or $0.14, in the prior year's corresponding period. 1-800-FLOWERS' earnings missed Wall Street's estimates of $0.09 per share.

For FY17, 1-800-FLOWERS' net income attributable to the Company was $44.0 million, or $0.65 per fully-diluted share, compared to $36.9 million, or $0.55 per diluted share, in FY16.

1-800-FLOWERS' EBITDA loss, excluding stock-based compensation, for Q4 FY17 was $2.2 million compared to a loss of $6.0 million in Q4 FY16. The Company's adjusted EBITDA, excluding stock-based compensation, was a loss of $1.7 million, compared to a loss of $2.9 million in the prior year's same period.

Customer Metrics

During Q4 FY17, 1-800-FLOWERS attracted 918,000 new customers. Approximately 2.0 million customers placed orders during the quarter, of whom 54.5% were repeat customers. For FY17, the Company attracted 3.6 million new customers and approximately 7.0 million customers placed orders during the year, of which 48.3% were repeat customers.

Segment Results

During Q4 FY17, 1-800-FLOWERS' Gourmet Food and Gift Baskets segment revenues increased 3.9% to $78.4 million, compared with 75.4 million in Q4 FY16. On a comparable basis, revenues for the period increased 3.4%.

For the reported quarter, the segment's gross profit margin was 37.6% compared with 39.9% in the prior year period. 1-800-FLOWERS' adjusted contribution margin for Q4 FY17 improved 23.9% to a loss of $7.0 million, compared with a loss of $9.2 million in the prior year period.

For Q4 FY17, 1-800-FLOWERS' Consumer Floral segment's revenues grew 1.4% to $139.4 million compared to $137.5 million in Q4 FY16. On a comparable basis, revenues grew 2.9% for the quarter. The segment's gross profit margin was 40.2% for Q4 FY17 compared to 41.9% for Q4 FY16 and contribution margin was $14.7 million for the reported quarter compared to $17.7 million in the prior year's same periods.

During Q4 FY17, 1-800-FLOWERS' BloomNet Wire Service revenues grew 1.8% to $22.1 million compared to $21.7 million in Q4 FY16. The Company's gross profit margin was 56.6% for the reported quarter compared to 58.9% for the year ago same period and contribution margin was $8.7 million for Q4 FY17 compared to $8.6 million in Q4 FY16.

Guidance

For fiscal 2018, 1-800-FLOWERS are forecasting consolidated revenue in a range of $1.14 billion to $1.16 billion, EPS in the band of $0.46 to $0.48. The Company is anticipating EBITDA in a range of $90 million to $93 million and free cash flow for the year in the band of $30.0 million to $40.0 million.

Stock Performance

On Thursday, September 14, 2017, the stock closed the trading session flat at $9.55. A total volume of 279.29 thousand shares have exchanged hands, which was higher than the 3-month average volume of 165.46 thousand shares. 1-800-FLOWERS.COM's stock price rallied 10.40% in the last one month and 5.64% in the previous twelve months. The stock is trading at a PE ratio of 15.06 and currently has a market cap of $627.24 million.

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