1-800-FLOWERS.COM(US:FLWS)2024-10-31 11:36Revenue Performance - Total consolidated revenues for Q1 Fiscal 2025 decreased by 10.0% to $242.1 million compared to the prior year period[3] - E-commerce revenues decreased by 8.0%, driven by a 6.5% decline in orders and a 1.5% decline in Average Order Value (AOV)[3] - Gourmet Foods and Gift Baskets segment revenues declined by 14.4% to $84.0 million, impacted by the timing of wholesale orders[7] - Consumer Floral & Gifts segment revenues declined by 4.9% to $135.2 million, with a gross profit margin increase of 30 basis points to 39.9%[8] - Total net revenues for the first quarter of fiscal 2025 were $242.09 million, a decrease of 10.0% compared to $269.05 million in the same period last year[21] - E-Commerce revenues were $193.17 million, down 8.0% from $209.91 million year-over-year[21] - Total net revenues for the three months ended September 29, 2024, were $242,090,000, a decrease of 10.0% compared to $269,050,000 for the same period in 2023[23] - Consumer Floral & Gifts segment reported revenues of $135,180,000, down 4.9% from $142,194,000 year-over-year[23] - BloomNet segment revenues decreased by 20.1% to $23,075,000 from $28,870,000 in the prior year[23] Profitability Metrics - Gross profit margin increased by 20 basis points to 38.1% compared to the prior year period[3] - Gross profit for the quarter was $92.32 million, representing a gross margin of 38.2%, compared to $101.93 million and a margin of 37.9% in the prior year[21] - Total gross profit for the quarter was $92,319,000, reflecting a 9.4% decline from $101,928,000 in the previous year[23] - The gross profit margin for the Consumer Floral & Gifts segment was 39.9%, slightly up from 39.6% year-over-year[23] Losses and Expenses - Net loss for the quarter was $34.2 million, or ($0.53) per share, compared to a net loss of $31.2 million, or ($0.48) per share in the prior year[5] - Adjusted EBITDA loss for the quarter was $27.9 million, compared to an Adjusted EBITDA loss of $22.5 million in the prior year[5] - Operating loss increased to $46.98 million, compared to a loss of $37.58 million in the same quarter last year[21] - The net loss for the quarter was $(34,190,000), compared to $(31,242,000) in the prior year[24] - Adjusted EBITDA for the three months ended September 29, 2024, was $(27,946,000), compared to $(22,523,000) for the same period in 2023, representing a 24.1% increase in losses[25] - Free cash flow for the three months ended September 29, 2024, was $(189,316,000), compared to $(150,858,000) for the same period in 2023[27] - Corporate expenses included significant costs related to shared service functions, impacting overall profitability[26] Future Projections - For Fiscal 2025, the company expects total revenues to be flat to a low-single digit decrease compared to the prior year[11] - Adjusted EBITDA is projected to be in the range of $85 million to $95 million for Fiscal 2025[11] Cash and Liabilities - Cash and cash equivalents decreased significantly to $8.41 million from $159.44 million at the end of the previous quarter[22] - Net cash used in operating activities was $177.24 million, compared to $143.88 million in the same period last year[22] - Total current liabilities increased to $266.99 million from $227.82 million in the previous quarter[20] - The company reported a total of $385.71 million in current assets, slightly down from $385.73 million in the previous quarter[20] - Long-term debt decreased to $172.29 million from $177.11 million in the previous quarter[20] Capital Expenditures - Capital expenditures for the quarter were $12,075,000, an increase from $6,974,000 in the previous year[27] Operating Expenses - Operating expenses declined by $0.2 million to $139.3 million, with a $4.2 million decline when excluding non-recurring charges[4]