Former Agenda LLC co-owner Seth Haber is tasked with turning around the bankrupt web retailer.
E-commerce revenue at FTD Group rose 29% year-over-year to about $62.3 million for the third quarter ended March 31, accounting for about half of total revenue, FTD said. By contrast, total revenue grew 23.4% to $124.9 million.
E-commerce revenue at FTD Group Inc. rose 29% year-over-year to about $62.3 million from $48.3 million for the third quarter ended March 31, representing about half of total revenue, the company reported. Total revenue grew 23.4% to $124.9 million from $106.3 million.
FTD reports its web revenue as part of its Consumer Business Segment, which is comprised of FTD.com and toll-free telephone sales. It said the web accounted for 88.2% of Q3 orders, up from 84.5% in the year-ago quarter, and that the Consumer Business Segment had an average order size of $62.87, down from $63.27 a year ago. It attributed the slight drop in average order value to its “Value Priced” flower promotion.
"The strength of the Consumer Business continues to be driven by the migration of consumers to the Internet, focused customer acquisition and retention initiatives, the expansion of the `Value Priced` flower program and strong growth in specialty gifts,” said president and CEO Michael J. Soenen. “Our continued success in this segment was clearly evidenced during the third quarter through strong Valentine`s Day sales and consistent growth in our everyday transactions. In addition, as a result of our numerous and diversified marketing programs, we have been able to control our marketing costs. We have not experienced a material change in marketing costs per order versus the second quarter of this fiscal year."
FTD said Q3 overall consumer orders rose 24.4% to 1.12 million from 903,000, and that gifts accounted for 27.6% of total orders, up from 25.8% a year ago.