Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Online revenue grew 1.9%, but total sales fell 1.3%.
E-commerce revenue took a swing upward in the second quarter, but remains down slightly for the year to date at 1-800-Flowers.com Inc.
For the second quarter of fiscal 2011 ended Dec. 26, 1-800-Flowers.com, No. 40 in the Internet Retailer Top 500 Guide, reported:
- E-commerce sales grew 1.9% to $154.6 million from $151.7 million in the second quarter of fiscal 2010.
- Total revenue decreased year over year 1.3% to $235.4 million from $238.5 million.
- Consumer floral revenue declined 3.8% to $82.6 million from $85.9 million in the second quarter of fiscal 2010.
- Gourmet food and gift sales decreased year over year 1.1% to $136.7 million from $138.2 million.
- Net income was $13.5 million compared with net income of $15.3 million in the prior year.
“During the fiscal second quarter, we made substantial progress on the initiatives we have outlined for fiscal 2011,” says CEO Jim McCann. “We improved our gross profit margin through a combination of manufacturing efficiencies in our gourmet food and gift baskets businesses and more efficient use of promotions in our consumer floral category.”
Internet Retailer calculates e-commerce accounted for 65.7% of total sales in Q2, compared with 63.6% in the prior year.
For the first two quarters of fiscal 2011, 1-800-Flowers.com reported:
- E-commerce sales decreased 0.3% to $225.8 million from $226.5 million in the first two quarters of fiscal 2010.
- Total revenue decreased year over year 2% to $339.9 million from $346.8 million.
- Net income was $8.4 million compared with net income of $8 million in the prior year.
Internet Retailer calculates e-commerce accounted for 66.4% of total sales in the first two quarters, compared with 65.3% in the prior year.