1-800-FLOWERS.COM Q4 Net Loss Slightly Widens; Sees Weak Revenues In FY24
(RTTNews) - Floral and foods gift retailer 1-800-FLOWERS.COM, Inc. (FLWS) reported Thursday a net loss for the fourth quarter of $22.55 million or $0.35 per share, slightly wider than $22.25 million or $0.34 per share in the prior-year quarter.
Excluding items, adjusted net loss was $0.28 per share, compared to last year's adjusted net loss of $0.34 per share.
On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Total net revenues for the quarter declined 17.9 percent to $398.81 million from $485.89 million in the same quarter last year. Analysts estimated revenues of $413.31 million for the quarter.
Excluding the impact of the 53rd week in the prior year period, revenues declined 14.8 percent.
Looking ahead to fiscal 2024, the company now projects revenues to decline in the mid-single digit percentage. It expects revenues to remain pressured by a challenging consumer environment early in the year, but then rebound during the holiday period and into the second half of the fiscal year.
The Street is looking for revenues to decline 1.8 percent to $2.0 billion for the year.
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