1-800-Flowers Posts Loss Despite Record Revenue

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Multichannel gift retailer 1-800-Flowers.com reported record revenue of $79.2 million for its first quarter of fiscal 2002, which ended Sept. 30, representing a 9.2 percent increase from revenue of $72.5 million posted in the year-ago period.


However, the company also reported a loss of $8.95 million, or 14 cents per share, compared with a loss of $22.5 million, or 35 cents per share, a year ago.


Analysts had expected a loss of 16 cents per share, according to Thomson Financial/First Call. According to reports, earnings before interest, taxes, depreciation and amortization amounted to a loss of $5.9 million, compared with a $19.1 million loss a year ago.


Online revenue rose 27 percent to $32.3 million while the gross profit margin increased 170 basis points to 39.5 percent.


The company attracted about 455,000 new customers in the quarter, with about 221,000 coming online. About 1 million customers placed orders, 53.6 percent of whom were repeat buyers, up from 48.2 percent during the first fiscal quarter last year. About 130,000 customers placed multiple orders during the quarter.


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