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    1-800-FLOWERS.COM, Inc. Reports Fiscal 2025 Second Quarter Results

    1/30/25 6:45:00 AM ET
    $FLWS
    Other Specialty Stores
    Consumer Discretionary
    Get the next $FLWS alert in real time by email

    Generates Revenues of $775.5 million and Net Income of $64.3 million

    Reports Adjusted EBITDA(1) of $116.3 million

    Updates Fiscal Year 2025 Outlook

    (1) Refer to "Definitions of Non-GAAP Financial Measures" and the tables attached at the end of this press release for reconciliation of non-GAAP results to applicable GAAP results.

    1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2025 second quarter ended December 29, 2024.

    "Our second quarter revenue declined 5.7%, showing year-over-year improvement, but not at the pace that we had been anticipating," said Jim McCann, Chairman and Chief Executive Officer of 1-800-FLOWERS.COM, Inc. "Our business experienced a softer than anticipated and highly promotional consumer environment, along with a pullback in corporate gifting orders, which were slightly offset by an improvement in our wholesale business. These trends were further exacerbated by issues with our new Harry & David order management system implementation."

    Mr. McCann continued, "Shifting patterns in consumer engagement have affected our performance. We are implementing actions to accelerate our Work Smarter efficiency initiatives that will in turn fund investments in our growth-oriented Relationship Innovation™ initiatives and marketing and sales strategies. As we focus on expanding our customer base, we see significant opportunities to leverage new technology to enhance engagement and build deeper relationships with our customers. We are confident that our dedicated team and innovative solutions will help us navigate these headwinds and emerge stronger."

    Fiscal 2025 Second Quarter Highlights

    • Total consolidated revenues decreased 5.7% to $775.5 million, as compared with the prior year period.
    • Gross profit margin of 43.3% was flat with the prior year period.
    • Operating expenses declined $19.9 million to $244.5 million, as compared with the prior year period. Excluding the impact of non-recurring charges in the current period associated with new systems implementation costs, impairment charges in the prior year period, as well as the impact of the Company's non-qualified deferred compensation plan in both periods, operating expenses declined by $2.9 million to $239.1 million, as compared with the prior year period.
    • Net income for the quarter was $64.3 million, or $1.00 per diluted share, as compared with net income of $62.9 million, or $0.97 per diluted share in the prior year period.
    • Adjusted Net Income1 was $69.2 million, or $1.08 per diluted share, compared with an Adjusted Net Income1 of $82.7 million, or $1.27 per diluted share, in the prior year period.
    • Adjusted EBITDA1 for the quarter was $116.3 million, as compared with Adjusted EBITDA1 of $130.1 million in the prior year period.

    Segment Results

    The Company provides Fiscal 2025 second quarter financial results for its Gourmet Foods and Gift Baskets, Consumer Floral and Gifts, and BloomNet® segments in the tables attached to this release and as follows:

    • Gourmet Foods and Gift Baskets: Revenues for the quarter declined 4.0% to $518.5 million as compared with the prior year period. The Company estimates that the issues associated with the implementation of its new order management system resulted in lost revenue of approximately $20 million. Gross profit margin increased 30 basis points to 43.5%, benefiting from the Company's inventory and labor optimization efforts that offset the incremental costs associated with the order management system issues. Excluding the impact of the systems implementation costs, adjusted segment contribution margin1 was $111.4 million, as compared with segment contribution margin1 of $118.2 million in the prior year period.
    • Consumer Floral & Gifts: Revenues for the quarter declined 8.0% to $234.3 million as compared with the prior year period. Gross profit margin decreased 90 basis points to 41.9%, primarily due to deleveraging on the sales decline and a promotional consumer environment. Segment contribution margin1 was $21.6 million, compared with adjusted segment contribution margin1 of $30.4 million in the prior year period, excluding the intangible impairment.
    • BloomNet: Revenues for the quarter declined 16.2% to $22.8 million as compared with the prior year period. Revenue and gross margin were impacted by the lower volume of lower margin orders processed by BloomNet. Gross profit margin increased 330 basis points to 50.9% due to lower florist rebates. Segment contribution margin1 was $7.5 million, compared with $9.1 million in the prior year period.

    Company Guidance

    Based on the Company's performance during its fiscal second quarter, the Company is updating its Fiscal 2025 guidance as outlined below. The Company expects its revenue trends to improve as the fiscal year progresses, benefiting from its Relationship Innovation initiatives that have expanded the Company's offerings, broadened price points and enhanced the user experience.

    For Fiscal 2025, the company now expects:

    • total revenues to decline in the mid-single digits on a percentage basis, as compared with the prior year;
    • Adjusted EBITDA1 to be in a range of $65 million to $75 million; and
    • Free Cash Flow1 to be in a range of $25 million to $35 million.

    Credit Agreement Amendment

    The Company today announced that it has amended its credit agreement in order to provide more clarity and flexibility to the Company going forward.

    Key changes effected by the amendment include revising the definition of Consolidated EBITDA, clarifying the application of optional term loan prepayments toward scheduled principal payments, and revising the definition of Consolidated Fixed Charges. Additional information can be found in the Company's Form 8-K that was filed with the SEC this morning.

    Conference Call

    The Company will conduct a conference call to discuss the above details and attached financial results today, January 30, 2025, at 8:00 a.m. (ET). The conference call will be webcast from the Investors section of the Company's website at www.1800flowersinc.com. A recording of the call will be posted on the Investors section of the Company's website within two hours of the call's completion. A telephonic replay of the call can be accessed beginning at 2:00 p.m. (ET) today through February 6, 2025, at: (US) 1-877-344-7529; (Canada) 855-669-9658; (International) 1-412-317-0088; enter conference ID #: 4981439.

    Definitions of non-GAAP Financial Measures:

    We sometimes use financial measures derived from consolidated financial information, but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). Certain of these are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules. Non-GAAP financial measures referred to in this document are either labeled as "non-GAAP" or designated as such with a "1". See below for definitions and the reasons why we use these non-GAAP financial measures. Where applicable, see the Selected Financial Information below for reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures. Reconciliations for forward-looking figures would require unreasonable efforts at this time because of the uncertainty and variability of the nature and amount of certain components of various necessary GAAP components, including, for example, those related to compensation, tax items, amortization or others that may arise during the year, and the Company's management believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The lack of such reconciling information should be considered when assessing the impact of such disclosures.

    EBITDA and Adjusted EBITDA:

    We define EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of stock-based compensation, Non-Qualified Deferred Compensation Plan ("NQDC") Investment appreciation/depreciation, and for certain items affecting period-to-period comparability. See Selected Financial Information for details on how EBITDA and Adjusted EBITDA were calculated for each period presented. The Company presents EBITDA and Adjusted EBITDA because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company uses EBITDA and Adjusted EBITDA as factors to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company's credit agreement uses EBITDA and Adjusted EBITDA to determine its interest rate and to measure compliance with certain covenants. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Some of the limitations are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company's working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on the Company's debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Adjusted EBITDA should only be used on a supplemental basis combined with GAAP results when evaluating the Company's performance.

    Segment Contribution Margin and Adjusted Segment Contribution Margin

    We define Segment Contribution Margin as earnings before interest, taxes, depreciation, and amortization, before the allocation of corporate overhead expenses. Adjusted Segment Contribution Margin is defined as Segment Contribution Margin adjusted for certain items affecting period-to-period comparability. See Selected Financial Information for details on how Segment Contribution Margin and Adjusted Segment Contribution Margin were calculated for each period presented. When viewed together with our GAAP results, we believe Segment Contribution Margin and Adjusted Segment Contribution Margin provide management and users of the financial statements meaningful information about the performance of our business segments. Segment Contribution Margin and Adjusted Segment Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of Segment Contribution Margin and Adjusted Segment Contribution Margin is that they are an incomplete measure of profitability as they do not include all operating expenses or non-operating income and expenses. Management compensates for this limitation when using these measures by looking at other GAAP measures, such as Operating Income and Net Income.

    Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:

    We define Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share as Net Income (Loss) and Net Income (Loss) Per Common Share adjusted for certain items affecting period-to-period comparability. See Selected Financial Information below for details on how Adjusted Net Income (Loss) Per Common Share and Adjusted or Comparable Net Income (Loss) Per Common Share were calculated for each period presented. We believe that Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share are meaningful measures because they increase the comparability of period-to-period results. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, GAAP Net Income (Loss) and Net Income (Loss) Per Common Share, as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies.

    Free Cash Flow:

    We define Free Cash Flow as net cash provided by operating activities less capital expenditures. The Company considers Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of fixed assets, which can then be used to, among other things, invest in the Company's business, make strategic acquisitions, strengthen the balance sheet, and repurchase stock or retire debt. Free Cash Flow is a liquidity measure that is frequently used by the investment community in the evaluation of similarly situated companies. Since Free Cash Flow is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. A limitation of the utility of Free Cash Flow as a measure of financial performance is that it does not represent the total increase or decrease in the Company's cash balance for the period.

    About 1-800-FLOWERS.COM, Inc.

    1-800-FLOWERS.COM, Inc. is a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships. The Company's e-commerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, CardIsle®, Cheryl's Cookies®, Harry & David®, PersonalizationMall.com®, Shari's Berries®, FruitBouquets.com®, Things Remembered®, Moose Munch®, The Popcorn Factory®, Wolferman's Bakery®, Vital Choice®, Simply Chocolate® and Scharffen Berger®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad-range of products and services designed to help members grow their businesses profitably; Napco℠, a resource for floral gifts and seasonal décor; DesignPac Gifts, LLC, a manufacturer of gift baskets and towers; Alice's Table®, a lifestyle business offering fully digital livestreaming and on demand floral, culinary and other experiences to guests across the country; and Card Isle®, an e-commerce greeting card service. 1-800-FLOWERS.COM, Inc. was recognized among America's Most Trustworthy Companies by Newsweek for 2024. 1-800-FLOWERS.COM, Inc. was also recognized as one of America's Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com.

    FLWS–COMP

    FLWS-FN

    Special Note Regarding Forward Looking Statements:

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events and can generally be identified using statements that include words such as "estimate," "expects," "project," "believe," "anticipate," "intend," "plan," "foresee," "forecast," "likely," "should," "will," "target" or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements regarding the Company's ability to achieve its guidance for the full Fiscal year; the Company's ability to leverage its operating platform and reduce its operating expense ratio; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic initiatives; its ability to cost effectively acquire and retain customers; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and industry and economic conditions that may affect levels of discretionary customer purchases of the Company's products. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company's SEC filings, including the Company's Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.

    Note: The following tables are an integral part of this press release without which the information presented in this press release should be considered incomplete.

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Condensed Consolidated Balance Sheets

    (in thousands)

     

     

    December 29, 2024

     

     

    June 30, 2024

     

     

     

     

    (unaudited)

     

     

     

     

     

    Assets

     

     

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

    247,220

     

     

    $

    159,437

     

    Trade receivables, net

     

     

    61,352

     

     

     

    18,024

     

    Inventories

     

     

    157,438

     

     

     

    176,591

     

    Prepaid and other

     

     

    26,884

     

     

     

    31,680

     

    Total current assets

     

     

    492,894

     

     

     

    385,732

     

     

     

     

     

     

     

     

     

    Property, plant and equipment, net

     

     

    223,178

     

     

     

    223,789

     

    Operating lease right-of-use assets

     

     

    110,455

     

     

     

    113,926

     

    Goodwill

     

     

    156,648

     

     

     

    156,537

     

    Other intangibles, net

     

     

    115,079

     

     

     

    116,216

     

    Other assets

     

     

    39,516

     

     

     

    36,448

     

    Total assets

     

    $

    1,137,770

     

     

    $

    1,032,648

     

     

     

     

     

     

     

     

     

    Liabilities and Stockholders' Equity

     

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

     

    Accounts payable

     

    $

    113,588

     

     

    $

    80,005

     

    Accrued expenses

     

     

    193,558

     

     

     

    121,303

     

    Current maturities of long-term debt

     

     

    -

     

     

     

    10,000

     

    Current portion of long-term operating lease liabilities

     

     

    18,490

     

     

     

    16,511

     

    Total current liabilities

     

     

    325,636

     

     

     

    227,819

     

     

     

     

     

     

     

     

     

    Long-term debt, net

     

     

    157,474

     

     

     

    177,113

     

    Long-term operating lease liabilities

     

     

    102,038

     

     

     

    105,866

     

    Deferred tax liabilities, net

     

     

    17,905

     

     

     

    19,402

     

    Other liabilities

     

     

    39,610

     

     

     

    36,106

     

    Total liabilities

    642,663

     

     

     

    566,306

     

    Total stockholders' equity

     

     

    495,107

     

     

     

    466,342

     

    Total liabilities and stockholders' equity

     

    $

    1,137,770

     

     

    $

    1,032,648

     

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information

    Consolidated Statements of Operations

    (in thousands, except for per share data)

    (unaudited)

     

     

     

    Three Months Ended

     

     

    Six Months Ended

     

     

     

    December 29, 2024

     

     

    December 31, 2023

     

     

    December 29, 2024

     

     

    December 31, 2023

     

    Net revenues:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    E-Commerce

     

    $

    677,326

     

     

    $

    738,406

     

     

    $

    870,500

     

     

    $

    948,317

     

    Other

     

     

    98,166

     

     

     

    83,648

     

     

     

    147,082

     

     

     

    142,787

     

    Total net revenues

     

     

    775,492

     

     

     

    822,054

     

     

     

    1,017,582

     

     

     

    1,091,104

     

    Cost of revenues

     

     

    439,899

     

     

     

    466,357

     

     

     

    589,670

     

     

     

    633,479

     

    Gross profit

     

     

    335,593

     

     

     

    355,697

     

     

     

    427,912

     

     

     

    457,625

     

    Operating expenses:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Marketing and sales

     

     

    187,003

     

     

     

    188,557

     

     

     

    269,100

     

     

     

    271,075

     

    Technology and development

     

     

    15,973

     

     

     

    14,822

     

     

     

    31,612

     

     

     

    30,126

     

    General and administrative

     

     

    27,410

     

     

     

    27,154

     

     

     

    55,936

     

     

     

    55,643

     

    Depreciation and amortization

     

     

    14,130

     

     

     

    14,152

     

     

     

    27,168

     

     

     

    27,346

     

    Intangible impairment

     

     

    -

     

     

     

    19,762

     

     

     

    -

     

     

     

    19,762

     

    Total operating expenses

     

     

    244,516

     

     

     

    264,447

     

     

     

    383,816

     

     

     

    403,952

     

    Operating income

     

     

    91,077

     

     

     

    91,250

     

     

     

    44,096

     

     

     

    53,673

     

    Interest expense, net

     

     

    4,396

     

     

     

    4,611

     

     

     

    7,756

     

     

     

    8,093

     

    Other income, net

     

     

    (1,164

    )

     

     

    (2,736

    )

     

     

    (2,931

    )

     

     

    (2,262

    )

    Income before income taxes

     

     

    87,845

     

     

     

    89,375

     

     

     

    39,271

     

     

     

    47,842

     

    Income tax expense

     

     

    23,497

     

     

     

    26,468

     

     

     

    9,113

     

     

     

    16,177

     

    Net income

     

    $

    64,348

     

     

    $

    62,907

     

     

    $

    30,158

     

     

    $

    31,665

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Basic net income per common share

     

    $

    1.01

     

     

    $

    0.97

     

     

    $

    0.47

     

     

    $

    0.49

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Diluted net income per common share

     

    $

    1.00

     

     

    $

    0.97

     

     

    $

    0.47

     

     

    $

    0.49

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Weighted average shares used in the calculation of net income per common share:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Basic

     

     

    63,836

     

     

     

    64,835

     

     

     

    64,017

     

     

     

    64,814

     

    Diluted

     

     

    64,306

     

     

     

    65,177

     

     

     

    64,501

     

     

     

    65,155

     

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information

    Consolidated Statements of Cash Flows

    (in thousands)

    (unaudited)

     

     

     

     

    Six Months Ended

     

     

     

     

    December 29, 2024

     

     

     

    December 31, 2023

     

     

     

     

     

     

     

     

     

     

    Operating activities:

     

     

     

     

     

     

     

     

    Net income

     

    $

    30,158

     

     

    $

    31,665

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

     

     

     

     

     

    Intangible impairment

     

     

    -

     

     

     

    19,762

     

    Depreciation and amortization

     

     

    27,168

     

     

     

    27,346

     

    Amortization of deferred financing costs

     

     

    361

     

     

     

    361

     

    Deferred income taxes

     

     

    (1,496

    )

     

     

    (6,108)

     

    Bad debt expense

     

     

    131

     

     

     

    225

     

    Stock-based compensation

     

     

    6,108

     

     

     

    4,595

     

    Other non-cash items

     

     

    (412

    )

     

     

    (385)

     

    Changes in operating items:

     

     

     

     

     

     

     

     

    Trade receivables

     

     

    (43,400

    )

     

     

    (26,384)

     

    Inventories

     

     

    20,446

     

     

     

    29,808

     

    Prepaid and other

     

     

    5,850

     

     

     

    6,640

     

    Accounts payable and accrued expenses

     

     

    104,671

     

     

     

    125,404

     

    Other assets and liabilities

     

     

    1,722

     

     

     

    (169)

     

    Net cash provided by operating activities

     

     

    151,307

     

     

     

    212,760

     

     

     

     

     

     

     

     

     

     

    Investing activities:

     

     

     

     

     

     

     

     

    Acquisitions, net of cash acquired

     

     

    (3,000

    )

     

     

    -

     

    Capital expenditures

     

     

    (23,023

    )

     

     

    (17,807)

     

    Net cash used in investing activities

     

     

    (26,023

    )

     

     

    (17,807)

     

     

     

     

     

     

     

     

     

     

    Financing activities:

     

     

     

     

     

     

     

     

    Acquisition of treasury stock

     

     

    (7,683

    )

     

     

    (4,787)

     

    Proceeds from exercise of employee stock options

     

     

    182

     

     

     

    44

     

    Proceeds from bank borrowings

     

     

    110,000

     

     

     

    82,000

     

    Repayment of bank borrowings

     

     

    (140,000

    )

     

     

    (87,000)

     

    Net cash used in financing activities

     

     

    (37,501

    )

     

     

    (9,743)

     

     

     

     

     

     

     

    Net change in cash and cash equivalents

     

     

    87,783

     

     

     

    185,210

     

    Cash and cash equivalents:

     

     

     

     

     

     

    Beginning of period

     

     

    159,437

     

     

     

    126,807

     

    End of period

     

    $

    247,220

     

     

    $

    312,017

     

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information – Category Information

    (dollars in thousands)

    (unaudited)

     

    Three Months Ended

    December 29, 2024

    System Implementation costs

    As Adjusted (non-GAAP) December 29, 2024

    December 31, 2023

    Intangible Impairment

    As Adjusted (non-GAAP) December 31, 2023

    % Change

    Net revenues:

     

    Consumer Floral & Gifts

    $

    234,349

    $

    -

    $

    234,349

    $

    254,835

    $

    -

    $

    254,835

    -8.0%

    BloomNet

     

    22,837

     

    -

     

    22,837

     

    27,236

     

    -

     

    27,236

    -16.2%

    Gourmet Foods & Gift Baskets

     

    518,454

     

    -

     

    518,454

     

    539,963

     

    -

     

    539,963

    -4.0%

    Corporate

     

    113

     

    -

     

    113

     

    279

     

    -

     

    279

    -59.5%

    Intercompany eliminations

     

    (261)

     

    -

     

    (261)

     

    (259)

     

    -

     

    (259)

    -0.8%

    Total net revenues

    $

    775,492

    $

    -

    $

    775,492

    $

    822,054

    $

    -

    $

    822,054

    -5.7%

     

    Gross profit:

    Consumer Floral & Gifts

    $

    98,288

    $

    -

    $

    98,288

    $

    109,176

    $

    -

    $

    109,176

    -10.0%

     

    41.9%

     

    41.9%

     

    42.8%

     

    42.8%

     

    BloomNet

     

    11,624

     

    -

     

    11,624

     

    12,974

     

    -

     

    12,974

    -10.4%

     

    50.9%

     

    50.9%

     

    47.6%

     

    47.6%

     

    Gourmet Foods & Gift Baskets

     

    225,390

     

    1,992

     

    227,382

     

    233,200

     

    -

     

    233,200

    -2.5%

     

    43.5%

     

    43.9%

     

    43.2%

     

    43.2%

     

    Corporate

     

    291

     

    -

     

    291

     

    347

     

    -

     

    347

    -16.1%

     

    257.5%

     

    257.5%

     

    124.4%

     

    124.4%

     

     

     

     

     

     

    Total gross profit

    $

    335,593

    $

    1,992

    $

    337,585

    $

    355,697

    $

    -

    $

    355,697

    -5.1%

     

    43.3%

     

    -

     

    43.5%

     

    43.3%

     

    -

     

    43.3%

     

    EBITDA (non-GAAP):

    Segment Contribution Margin (non-GAAP) (a):

    Consumer Floral & Gifts

    $

    21,587

    $

    -

    $

    21,587

    $

    10,593

    $

    19,762

    $

    30,355

    -28.9%

    BloomNet

     

    7,460

     

    -

     

    7,460

     

    9,088

     

    -

     

    9,088

    -17.9%

    Gourmet Foods & Gift Baskets

     

    107,277

     

    4,166

     

    111,443

     

    118,153

     

    -

     

    118,153

    -5.7%

    Segment Contribution Margin Subtotal

     

    136,324

     

    4,166

     

    140,490

     

    137,834

     

    19,762

     

    157,596

    -10.9%

    Corporate (b)

     

    (31,117)

     

    2,141

     

    (28,976)

     

    (32,432)

     

    -

     

    (32,432)

    10.7%

    EBITDA (non-GAAP)

     

    105,207

     

    6,307

     

    111,514

     

    105,402

     

    19,762

     

    125,164

    -10.9%

    Add: Stock-based compensation

     

    3,629

     

    -

     

    3,629

     

    2,231

     

    -

     

    2,231

    62.7%

    Add: Compensation charge related to NQDC Plan Investment Appreciation

     

    1,135

     

    -

     

    1,135

     

    2,682

     

    -

     

    2,682

    -57.7%

    Adjusted EBITDA (non-GAAP)

    $

    109,971

    $

    6,307

    $

    116,278

    $

    110,315

    $

    19,762

    $

    130,077

    -10.6%

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information – Category Information

    (dollars in thousands)

    (unaudited)

     

    Six Months Ended

    December 29, 2024

    System Implementation Cost

    As Adjusted (non-GAAP) December 29, 2024

    December 31, 2023

    Intangible Impairment

    As Adjusted (non-GAAP) December 31, 2023

    % Change

    Net revenues:

    Consumer Floral & Gifts

    $

    369,529

    $

    -

    $

    369,529

    $

    397,029

    $

    -

    $

    397,029

    -6.9%

    BloomNet

     

    45,912

     

    -

     

    45,912

     

    56,106

     

    -

     

    56,106

    -18.2%

    Gourmet Foods & Gift Baskets

     

    602,457

     

    -

     

    602,457

     

    638,072

     

    -

     

    638,072

    -5.6%

    Corporate

     

    202

     

    -

     

    202

     

    549

     

    -

     

    549

    -63.2%

    Intercompany eliminations

     

    (518)

     

    -

     

    (518)

     

    (652)

     

    -

     

    (652)

    20.6%

    Total net revenues

    $

    1,017,582

    $

    -

    $

    1,017,582

    $

    1,091,104

    $

    -

    $

    1,091,104

    -6.7%

     

    Gross profit:

    Consumer Floral & Gifts

    $

    152,217

    $

    -

    $

    152,217

    $

    165,498

    $

    -

    $

    165,498

    -8.0%

     

    41.2%

     

    41.2%

     

    41.7%

     

    41.7%

     

    BloomNet

     

    23,152

     

    -

     

    23,152

     

    27,472

     

    -

     

    27,472

    -15.7%

     

    50.4%

     

    50.4%

     

    49.0%

     

    49.0%

     

    Gourmet Foods & Gift Baskets

     

    252,234

     

    1,992

     

    254,226

     

    264,107

     

    -

     

    264,107

    -3.7%

     

    41.9%

     

    42.2%

     

    41.4%

     

    41.4%

     

    Corporate

     

    309

     

    -

     

    309

     

    548

     

    -

     

    548

    -43.6%

     

    153.0%

     

    153.0%

     

    99.8%

     

    99.8%

     

     

     

     

     

     

    Total gross profit

    $

    427,912

    $

    1,992

    $

    429,904

    $

    457,625

    $

    -

    $

    457,625

    -6.1%

     

    42.1%

     

    -

     

    42.2%

     

    41.9%

     

    -

     

    41.9%

     

    EBITDA (non-GAAP):

    Segment Contribution Margin (non-GAAP) (a):

    Consumer Floral & Gifts

    $

    26,531

    $

    -

    $

    26,531

    $

    19,419

    $

    19,762

    $

    39,181

    -32.3%

    BloomNet

     

    14,301

     

    -

     

    14,301

     

    18,475

     

    -

     

    18,475

    -22.6%

    Gourmet Foods & Gift Baskets

     

    95,024

     

    5,079

     

    100,103

     

    107,125

     

    -

     

    107,125

    -6.6%

    Segment Contribution Margin Subtotal

     

    135,856

     

    5,079

     

    140,935

     

    145,019

     

    19,762

     

    164,781

    -14.5%

    Corporate (b)

     

    (64,592)

     

    3,008

     

    (61,584)

     

    (64,000)

     

    -

     

    (64,000)

    3.8%

    EBITDA (non-GAAP)

     

    71,264

     

    8,087

     

    79,351

     

    81,019

     

    19,762

     

    100,781

    -21.3%

    Add: Stock-based compensation

     

    6,108

     

    -

     

    6,108

     

    4,595

     

    -

     

    4,595

    32.9%

    Add: Compensation charge related to NQDC Plan Investment Appreciation

     

    2,873

     

    -

     

    2,873

     

    2,178

     

    -

     

    2,178

    31.9%

    Adjusted EBITDA (non-GAAP)

    $

    80,245

    $

    8,087

    $

    88,332

    $

    87,792

    $

    19,762

    $

    107,554

    -17.9%

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information

    (in thousands)

    (unaudited)

     

    Reconciliation of net income to adjusted net income (non-GAAP):

    Three Months Ended

    Six Months Ended

    December 29, 2024

    December 31, 2023

    December 29, 2024

    December 31, 2023

     

    Net income

    $

    64,348

    $

    62,907

    $

    30,158

    $

    31,665

    Adjustments to reconcile net income to adjusted net income (non-GAAP)

    Add: System implementation costs

     

    6,307

     

    -

     

    8,087

     

    -

    Add: Intangible impairment

     

    -

     

     

    19,762

     

     

    -

     

     

    19,762

    Deduct: Income tax effect on adjustments

     

    (1,475)

     

    -

     

    (2,002)

     

    -

    Adjusted net income (non-GAAP)

    $

    69,180

    $

    82,669

    $

    36,243

    $

    51,427

     

    Basic and diluted net income per common share

    Basic

    $

    1.01

    $

    0.97

    $

    0.47

    $

    0.49

    Diluted

    $

    1.00

    $

    0.97

    $

    0.47

    $

    0.49

     
     

    Basic and diluted adjusted net income per common share (non-GAAP)

    Basic

    $

    1.08

    $

    1.28

    $

    0.57

    $

    0.79

    Diluted

    $

    1.08

    $

    1.27

    $

    0.56

    $

    0.79

     

    Weighted average shares used in the calculation of basic and diluted net income and adjusted net income per common share

    Basic

     

    63,836

     

    64,835

     

    64,017

     

    64,814

    Diluted

     

    64,306

     

    65,177

     

    64,501

     

    65,155

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information

    (in thousands)

    (unaudited)

     

    Reconciliation of net income to adjusted EBITDA (non-GAAP):

    Three Months Ended

    Six Months Ended

    December 29, 2024

    December 31, 2023

    December 29, 2024

    December 31, 2023

     

    Net income

    $

    64,348

    $

    62,907

    $

    30,158

    $

    31,665

    Add: Interest expense and other, net

     

    3,232

     

    1,875

     

    4,825

     

    5,831

    Add: Depreciation and amortization

     

    14,130

     

    14,152

     

    27,168

     

    27,346

    Add: Income tax expense

     

    23,497

     

    26,468

     

    9,113

     

    16,177

    EBITDA

     

    105,207

     

    105,402

     

    71,264

     

    81,019

    Add: Stock-based compensation

     

    3,629

     

    2,231

     

    6,108

     

    4,595

    Add: Compensation charge related to NQDC Plan Investment Appreciation

     

    1,135

     

    2,682

     

    2,873

     

    2,178

    Add: System implementation costs

     

    6,307

     

     

    -

     

     

    8,087

     

     

    -

    Add: Intangible impairment

     

    -

     

    19,762

     

    -

     

    19,762

    Adjusted EBITDA

    $

    116,278

    $

    130,077

    $

    88,332

    $

    107,554

     

     

     

     

     

     

     

     

     

    (a) Segment performance is measured based on segment contribution margin or segment Adjusted EBITDA, reflecting only the direct controllable revenue and operating expenses of the segments, both of which are non-GAAP measurements. As such, management's measure of profitability for these segments does not include the effect of corporate overhead, described above, depreciation and amortization, other income (net), and other items that we do not consider indicative of our core operating performance.

     

    (b) Corporate expenses consist of the Company's enterprise shared service cost centers, and include, among other items, Information Technology, Human Resources, Accounting and Finance, Legal, Executive and Customer Service Center functions, as well as Stock-Based Compensation. In order to leverage the Company's infrastructure, these functions are operated under a centralized management platform, providing support services throughout the organization. The costs of these functions, other than those of the Customer Service Center, which are allocated directly to the above categories based upon usage, are included within corporate expenses as they are not directly allocable to a specific segment.

     

    1-800-FLOWERS.COM, Inc. and Subsidiaries

    Selected Financial Information

    (in thousands)

    (unaudited)

     

    Reconciliation of net cash provided by operating activities to free cash flow (non-GAAP):

     

    Six Months Ended

     

    December 29, 2024

     

    December 31, 2023

    Net cash provided by operating activities

    $

    151,307

     

    $

    212,760

    Capital expenditures

     

    (23,023)

     

     

    (17,807)

    Free cash flow

    $

    128,284

     

    $

    194,953

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250130324553/en/

    Investor Contact:

    Andy Milevoj

    [email protected]

    Media Contact:

    Cherie Gallarello

    [email protected]

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      Uber Direct's on-demand delivery helps 1-800-Flowers.com and its BloomNet network of local florists fulfill more orders during peak holidays 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) and Uber Technologies, Inc. (NYSE:UBER) today announced a new collaboration leveraging Uber Direct, Uber's white-label delivery service, to help florists nationwide fulfill more orders. The announcement comes just ahead of Valentine's Day—one of the busiest floral holidays of the year. Through this collaboration, the 1-800-Flowers.comⓇ network of local florists, BloomNet®, can seamlessly tap into Uber Direct's extensive delivery technology and network to enable faster, more flexible deliveries, and meet demand

      2/6/25 9:00:00 AM ET
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    • 1-800-FLOWERS.COM, Inc. Announces Bill Shea to Retire as Chief Financial Officer on December 29, 2024

      Names James Langrock Chief Financial Officer 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today announced that Bill Shea has confirmed his intention to retire as Chief Financial Officer, effective December 29, 2024. The Board of Directors has appointed James Langrock as Chief Financial Officer, effective December 29, 2024. "I want to take this opportunity to congratulate Bill on his upcoming retirement and to thank him for his three decades of tireless commitment to our company," said Jim McCann, Chairman and Chief Executive Officer of 1-800-FLOWERS.COM, Inc. "Bi

      8/29/24 6:46:00 AM ET
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    • President Hartnett Thomas G covered exercise/tax liability with 31,027 shares, decreasing direct ownership by 9% to 330,747 units (SEC Form 4)

      4 - 1 800 FLOWERS COM INC (0001084869) (Issuer)

      5/6/25 3:27:13 PM ET
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    • SVP and General Counsel Manley Michael R covered exercise/tax liability with 3,396 shares, decreasing direct ownership by 3% to 93,946 units (SEC Form 4)

      4 - 1 800 FLOWERS COM INC (0001084869) (Issuer)

      5/6/25 3:24:47 PM ET
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    • Large owner Fund 1 Investments, Llc bought $912,659 worth of shares (167,847 units at $5.44) (SEC Form 4)

      4 - 1 800 FLOWERS COM INC (0001084869) (Issuer)

      4/28/25 4:37:35 PM ET
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    • 1-800-FLOWERS.COM, Inc. Reports Fiscal 2025 Third Quarter Results

      Generated Revenues of $331.5 million and a Net Loss of $178.2 million, which includes a $138.2 million non-cash goodwill and intangible impairment charge Announces Celebrations Wave, a Strategic Plan Marking the Next Phase of Significant Evolution for the Company that Integrates its Relationship Innovation Initiatives and Brand Assets into a Sentiment-Led Celebrations Ecosystem 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), a leading provider of thoughtful expressions designed to help inspire customers to share more, connect more, and build more and better relationships, today reported results for its Fiscal 2025 third quarter ended March 30, 2025. "While we are deeply disappointed by the quarte

      5/8/25 4:03:00 PM ET
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    • 1-800-FLOWERS.COM, Inc. to Release its Fiscal 2025 Third Quarter Results on Thursday, May 8, 2025

      1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) (the "Company"), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today announced that the Company will release financial results for its fiscal 2025 third quarter on Thursday, May 8,2025. The press release will be issued after the market close and will be followed by a conference call with members of senior management at 4:30 p.m. (ET). The conference call will be available via live webcast from the Investors section of the Company's website at www.1800flowersinc.com/investors. A recording of the call will be posted on the website within two hours of the call's completi

      4/16/25 9:00:00 AM ET
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    • 1-800-FLOWERS.COM, Inc. Reports Fiscal 2025 Second Quarter Results

      Generates Revenues of $775.5 million and Net Income of $64.3 million Reports Adjusted EBITDA(1) of $116.3 million Updates Fiscal Year 2025 Outlook (1) Refer to "Definitions of Non-GAAP Financial Measures" and the tables attached at the end of this press release for reconciliation of non-GAAP results to applicable GAAP results. 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2025 second quarter ended December 29, 2024. "Our second quarter revenue declined 5.7%, showing year-over-year improvement, but not at the pace that we

      1/30/25 6:45:00 AM ET
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