Q1 e-commerce sales bloom slightly at 1-800-Flowers
1-800-Flowers.com Inc. is reporting record revenue for the first quarter of the 2008 fiscal year, but e-commerce sales increased only modestly.
For the quarter, e-commerce sales rose by 4.8% to $114.5 million from $109.3 million in Q1 of fiscal 2007. At the same time, 1-800-Flowers.com, No. 34 in the Internet Retailer Top 500 Guide, generated a net loss of $5.8 million on sales of $145.8 million, compared with a net loss of $7.4 million on sales of $137.1 million in the prior year. “During the quarter we continued to enhance our gross profit margin and operating expense ratio,” says CEO Jim McCann. “Combined with the revenue growth, this enabled us to improve our bottom line significantly and we anticipate continued improvements in these areas throughout fiscal 2008."
In the first quarter, the company’s consumer flower business grew by 6% to $87.6 million from $82.7 million in Q1 for fiscal 2007. E-commerce sales were up by 7%, but 1-800-Flowers.com didn’t break out a specific number.
During the first quarter, 1-800-Flowers.com attracted 506,000 new customers. Of that total 73%, or 372,000, were acquired through its various e-commerce sites which include 1800Flowers.com, PlowandHearth.com, FannieMay.com and others.
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