1-800-Flowers.com reported a modest revenue gain and a slight improvement of its P&L for the first quarter of its fiscal 2005.
Sales for the period hit $97.5 million, a 2.7% increase over the same period last year. In addition, the Westbury, NY gift marketer posted a net loss of $2 million, down from $5.1 million in fiscal 2004.
The improvement is due, in part, to a $2.7 million tax credit. The firm also reduced its operating expense ratio.
CEO Jim McCann noted in a statement that the first quarter is usually the firm’s worst because of the lack of gift giving holidays during summer.
Online sales grew by 8.5% to roughly $53 million, and now account for 54.4% of all company revenue, compared with 51.4% last year.
Telephone sales totaled $37.5 million, vs. $40.3 million in the first quarter of fiscal 2004. Retail/fulfillment sales rose to $6.8 million from $5.8 million.
McCann noted that the company:
*Improved the marketing and merchandising for its home and garden gifts category.
*Invested in its Business Gift Services division, expanding its sales team in preparation for this year’s holiday season.
*Enhanced its Web site and marketing materials for its floral gift offerings.
“As we enter the important holiday shopping season, we believe we are well positioned to achieve accelerated top line growth and enhanced profitability,” McCann said.
Network
