In its second-largest acquisition, Amazon buys the company for $970 million.
1-800-Flowers’ quarterly revenue reaches $162 million, with a gross margin of 43%, the company reported today. The high margin was helped by sales of non-floral gift items.
Westbury, NY-based 1-800-Flowers.com anticipates total revenues of $162 million for its fiscal second quarter, a 21% increase compared with $134 million in the same quarter last year, the company reported today. The company’s strong gross profit margin, expected to exceed 43%, reflects a rise in sales of non-floral gifts, the company says. Online revenues are expected to increase 27% to about $60.5 million, while phone order revenues are expected to increase 18% to $93.5 million. The balance of the revenue came from store sales.
Jim McCann, CEO, says the company is pleased with its performance in what has been a challenging retail environment. "The increase in our non-floral gift sales during the holiday season--including gift baskets, home décor, giftware and collectibles, plants and children’s gifts--illustrates the fact that our customers continue to embrace 1-800-Flowers as their trusted guide to gifting," he said in a statement.