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1800 FLOWERS.COM Inc. (FLWS) filed Quarterly Report for the period ended 2012-01-01.
1800 Flowers.com Inc. has a market cap of $188.7 million; its shares were traded at around $3 with a P/E ratio of 29 and P/S ratio of 0.3. 1800 Flowers.com Inc. had an annual average earning growth of 8.2% over the past 10 years.
This is the annual revenues and earnings per share of FLWS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of FLWS.
Highlight of Business Operations:
During the three and six months ended January 1, 2012, revenues increased by 4.8% and 8.0%, respectively, in comparison to prior year periods as a result of growth across all categories. This improvement was primarily due to growth within the 1-800-Flowers.com Consumer Floral category, which increased 10.3% and 11.0% during the three and six months ended January 1, 2012, respectively, due to increased average order value resulting from merchandising initiatives, as well as the revenue contributions of several small acquisitions, including Fine Stationery in May 2011 and Flowerama in August 2011. Further contributing to the growth was an increase in shop-to-shop order volume and wholesale product sales within the BloomNet Wire Service category, as well as higher sales from the Gourmet Food & Gift Baskets category, including contributions from Mrs. Beasley’s, which was acquired in March 2011, and Stockyards.com, whose brandname the Company licensed and began operating the website and direct-to-consumer business in late November 2011. Excluding the impact of acquisitions and new license agreements noted above, and the net effect of the Fannie May store sales and franchise agreement described below, revenues increased by 1.0% and 4.5% during the three and six months ended January 1, 2012, respectively.E-Commerce revenues increased by 6.8% and 8.0% during the three and six months ended January 1, 2012, respectively, in comparison to the prior year periods, due to increases of 10.5% and 9.1% in average order value to $58.36 and $60.53, during the three and six months ended January 1, 2012, respectively. These increases in average order value reflect improved merchandising programs, including the development of innovative and original products designed to “wow” our customers’ gift recipients, which also enabled the Company to reduce its promotional activities. The Company fulfilled approximately 2,829,000 and 4,029,000 orders through its E-commerce sales channels (online and telephonic sales) during the three and six months ended January 1, 2012, respectively, reflecting a decrease of 3.4% and 0.9% from the respective periods of the prior year.
The 1-800-Flowers.com Consumer Floral category includes the operations of the 1-800-Flowers brand which derives revenue from the sale of consumer floral products through its E-Commerce sales channels (telephonic and online sales) and company-owned and operated retail floral stores, royalties from its franchise operations, as well as the operations of Fine Stationery, an e-commerce retailer of personalized stationery, invitations and announcements. Net revenues during the three and six months ended January 1, 2012 increased by 10.3% and 11.0% over the respective prior year periods primarily as a result of an increase average order value, driven by enhanced marketing programs and merchandising initiatives that encourage our customers to “wow” their recipients by sending “only the best” gifts during the holiday, as well as the revenue contributions of several small acquisitions, including Fine Stationery in May 2011 and Flowerama in August 2011. For the three months and six months ended January 1, 2012, revenue growth for the Consumer Floral category, excluding the impact of the acquisitions above, was approximately 3.5% and 5.4%, respectively.
The BloomNet Wire Service category includes revenues from membership fees as well as other product and service offerings to florists. Net revenues during the three and six months ended January 1, 2012 increased by 12.7% and 18.0%, respectively, over the prior year periods, primarily reflecting increased shop-to-shop order volume. While this order volume positively impacts revenues, at the present time, the impact on gross margin and contribution margin is significantly less than BloomNet’s normal margin. However, BloomNet expects to monetize this increased order volume by increasing membership, technology, services and product fees. Further contributing to the revenue growth within the BloomNet category during the three and six month periods, was increased wholesale product sales.
The Gourmet Food & Gift Baskets category includes the operations of 1-800-Baskets, Cheryl’s (which includes Mrs. Beasley’s), Fannie May Confections, The Popcorn Factory, Winetasting.com, Stockyards.com and DesignPac businesses. Revenue is derived from the sale of gift baskets, cookies, baked gifts, premium chocolates and confections, gourmet popcorn, wine gifts and prime steaks and chops through its E-commerce sales channels (telephonic and online sales) and company-owned and operated retail stores under the Cheryl’s and Fannie May brand names, as well as wholesale operations. Net revenue during the three and six months ended January 1, 2012 increased by 0.7% and 3.5%, respectively, compared to the prior year periods, as a result of e-commerce growth of 4.7% and 5.2%, respectively, including the contributions of Mrs. Beasley’s, a baker and marketer of cakes, muffins and gourmet gift baskets, acquired in March 2011, and Stockyards.com, a purveyor of USDA prime and choice meats, poultry and seafood, whose brandname the Company licensed and began operating the website and direct-to-consumer business in late November 2011. This growth was largely offset by reduced wholesale basket orders from mass market customers during the holiday season, as well as the impact of the above mentioned sale of Fannie May stores. For the three months and six months ended January 1, 2012, revenue growth for the Gourmet Food & Gift Baskets category, excluding the impact of the acquisitions above and the sale of the Fannie May retail stores, was approximately -1.7% and 1.3%, respectively.
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