The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
U.S. consumers didn’t purchase as many flowers online and by phone at FTD Group in the second quarter of fiscal 2008. For Q2, FTD’s domestic consumer web sales dropped by 6.8% to about $57.5 million.
U.S. consumers didn’t purchase as many flowers online and by phone at FTD Group Inc. in the second quarter of fiscal 2008.
For Q2, FTD’s domestic consumer web sales dropped by 6.8% to about $57.5 million from about $61.7 million in Q2 of fiscal 2007. Overall consumer sales also declined year-over-year to $64.6 million from $69.5 million. The web accounted for about 89% of FTD’s domestic consumer segment sales and for about 89% in Q2 of fiscal 2007. The average domestic order in Q2 was $63.23, compared with $60.01 in the prior year.
Despite the moderate drop in U.S consumer revenue, FTD, No. 50 in the Internet Retailer Top 500 Guide, reported net income of $9 million on sales of $155.5 million in Q2, compared with net income of $6.1 million on revenue of $151.5 million in the first quarter of fiscal 2007.
International e-commerce orders were a bright spot in the second quarter. FTD’s international web sales grew by 29% to about $46.3 million from $37.5 million in Q2 of 2007. The web accounted for 72% of international orders vs. 69% in the prior year’s quarter.
“We are pleased with our financial performance as we continue to focus on profitability,” says FTD CEO Michael J. Soenen. “We were able to effectively manage revenue performance and marketing expenses across our domestic and international businesses.”