1-800-Flowers.com reports wider 1Q loss
CARLE PLACE, N.Y. -- Flower delivery service 1-800-Flowers.com said Thursday that its fiscal first quarter loss widened, mainly because year-ago results included a hefty gain from discontinued operations.
Net income matched analysts' expectations. The quarter is seasonally the weakest for the online retailer, since it lacks holidays like Valentine's Day or Mother's Day that are popular flower giving days.
Loss for the three months ended Sept. 30 totaled $4.6 million, or 7 cents per share. That compares with a net loss of $740,000, or a gain of a penny per share, last year. Excluding a gain on discontinued operations from selling its WTN winery services division, the company's year-ago loss was 8 cents per share.
Revenue rose 3 percent to $120.9 million.
Analysts expected a loss of 7 cents per share on revenue of $119.7 million, according to FactSet.
Revenue from the division that sells flowers and gifts directly to consumers rose 3.8 percent to $72.8 million. The segment that sells to smaller floral shops rose 6.8 percent to $19.8 million. Revenue from gift baskets and gourmet foods was flat at $28.4 million.
1-800-Flowers expects a double-digit percentage year-over-year increase in earnings per share and mid-single-digit percentage revenue growth in fiscal 2013.
Shares rose 4 cents to $3.48 in afternoon trading.