1-800-Flowers Revenue Grows
The total reached $124.1 million during its fiscal 2003 third quarter ended March 30, a 7.5 percent uptick from $115.4 million in the prior-year period.
Online revenue rose 13.6 percent to $64.6 million from $56.9 million in the third quarter of fiscal '02, as telephone-generated revenue improved 3.1 percent to $52.3 million. Improvement in gross profit margin was attributed to higher demand for its expanded selection of non-floral gifts, among other factors.
Net income in the quarter totaled $1.2 million, skyrocketing 617 percent above the $165,000 posted in the prior-year period.
The company attracted about 680,000 new customers in the quarter with more than 60 percent coming online. About 1.5 million customers placed orders in the period, of which 55.1 percent were repeat customers.
Acceptance of the expanded product offering resulted in 38.1 percent of combined online and telephone-generated revenue coming from higher-margin, non-floral gifts compared with 34.3 percent in the third quarter a year ago.