1-800-Flowers.com Increases Revenue, Improves Loss

Oct 24, 2007 1:04 AM  By

First-quarter revenue for 1-800-Flowers.com rose 6.3%, to $145.8 million, up from $137.1 million after the first quarter in 2006. For the period ended Sept. 30, the gifts, toys, and home dŽcor merchant saw its net loss improve 22% to $5.8 million, compared with a net loss of $7.4 million after the first quarter of 2006.

Officials for the Carle Place, NY-based company were pleased with the revenue increase, despite the fact that the first quarter is historically its lowest due to “the lack of gifting occasions during the summer months.”

CEO Jim McCann said a strong performance in the company’s floral category and BloomNet wire service business bolstered first-quarter revenue. “Importantly, during the quarter we continued to enhance our gross profit margin and operating expense ratio, achieving improvements of 110 basis points and 100 basis points, respectively,” which improved bottom-line results, he said in a release.

What’s more, McCann announced a partnership with Martha Stewart Living Omnimedia to create an exclusive co-branded floral, plant, and gift basket program called Martha Stewart for 1-800-Flowers.com. The new program will launch in spring 2008.