In its second-largest acquisition, Amazon buys the company for $970 million.
Web sales and total sales increase 4% and 4.7%, respectively in Q3 of fiscal 2011.
The past couple of years have been hard ones financially for 1-800-Flowers.com Inc. as the floral arrangement and gourmet gifts retailer has wrestled with the tough economy and consumers cutting back on their discretionary spending.
But e-commerce and total sales rebounded for 1-800-Flowers.com, No. 40 in the Internet Retailer Top 500 Guide, in the third quarter.
For the third quarter of fiscal 2011 ended March 27, 1-800-Flowers reported:
- E-commerce sales grew 4.0% to $117.5 million from $113.0 million in the third quarter of fiscal 2010.
- Total revenue increased year over year 4.7% to $162.8 million from $155.5 million.
- Consumer floral revenue increased 5.2% to $100.3 million from $95.3 million in the third quarter of fiscal 2010.
- Gourmet food and gift sales decreased year over year 1.6% to $41.9 million from $42.6 million.
- Net loss was $2.7 million compared with a net loss of $5.9 million in the prior year.
Internet Retailer calculates e-commerce accounted for 72.2% of total sales in Q3, compared with 72.7% in the prior year.
“The improved results for our fiscal third quarter reflect a continuation of the positive trends we have been seeing in our revenue, gross margin and operating expenses since the start of fiscal 2011,” says CEO Jim McCann.
For the first three quarters, 1-800-Flowers reported:
- E-commerce sales grew 1.1% to $343.3 million from $339.5 million in fiscal 2010.
- Total revenue increased year over year 0.1% to $502.7 million from $502.3 million.
- Consumer floral revenue decreased 1.5% to $245.5 million from $249.3 million in fiscal 2010.
- Gourmet food and gift sales decreased year over year 0.1% to $205.5 million from $205.7 million.
- Net income was $5.7 million, up 637.4% from net income of $773,000 in the prior year.
Internet Retailer calculates e-commerce accounted for 68.3% of total sales, compared with 67.6% in the prior year.