In its second-largest acquisition, Amazon buys the company for $970 million.
E-commerce grew 10.7% in Q1 as total sales increased 15.2%.
Sales growth in the first quarter of fiscal 2012 picked up where it left off at the end of fiscal 2011 for 1-800-Flowers.com Inc.
For the quarter ended Sept. 30, 1-800-Flowers.com, No. 45 in the Internet Retailer Top 500 Guide, reported:
- E-commerce sales increased 10.7% to $78.8 million from $71.2 million in the first quarter of fiscal 2011.
- Total revenue increased year over year 15.2% to $117.2 million from $101.7 million.
- Consumer floral revenue increased 12.7% to $70.1 million from $62.2 million.
- Gourmet food and gift sales increased year over year 18.7% to $28.6 million from $24.1 million.
- Net loss was $540,000 compared with a net loss of $5.1 million in the prior year period.
Internet Retailer calculates the web accounted for 67.2% of sales in Q1 fiscal 2012, compared with 70.0% in the prior year.
“The revenue growth that we achieved in the first quarter across all of our businesses reflected a continuation of the positive trends that we have been seeing since the second half of last year,” says 1-800-Flowers.com CEO Jim McCann. “In particular, our consumer floral business continues to benefit from merchandising initiatives that focus on truly original products.”