CEO Roland Smith will retire and Troy Rice will oversee e-commerce as Office Depot’s new chief operating officer.
After some tough years due to lower discretionary spending, e-commerce grew 3.3% in fiscal 2011.
E-commerce sales are once again blooming for 1-800-Flowers.com Inc.
In recent years a cutback in discretionary spending by consumers had resulted in lower e-commerce and floral sales for 1-800-Flowers.com, No. 45 in the Internet Retailer Top 500 Guide.
But for the fiscal 2011 year ended July 3, 1-800-Flowers reported:
- E-commerce sales increased 3.3% to $485.4 million from $469.9 million in fiscal 2010.
- Total revenue increased year over year 3.3% to $689.8 million from $667.7 million.
- Consumer floral revenue increased 0.7% to $369.2 million from $366.5 million in fiscal 2010.
- Gourmet food and gift sales increased year over year 3.2% to $247.6 million from $239.9 million.
- Net income was $5.7 million compared with a net loss of $4.2 million in the prior year.
Internet Retailer calculates the web accounted for 70.4% of sales in fiscal 2011, the same as in fiscal 2010. “During fiscal 2011, we focused on achieving growth and enhancing our results through areas of our business that we could control,” CEO Jim McCann says. “Throughout the year we saw improving trends in our consumer floral business in terms of revenues, gross margin and contribution margin.”
For the fourth quarter 1-800-Flowers reported:
- E-commerce sales increased 8.9% to $142.0 million from $130.4 million in Q4 fiscal 2010.
- Total revenue increased year over year 13.1% to $187.0 million from $165.4 million.
- Consumer floral revenue increased 5.5% to $123.7 million from $117.3 million in Q4 fiscal 2010.
- Gourmet food and gift sales increased year over year 29.9% to $42.1 million from $32.4 million.
- Net loss was $8,000 compared with a net loss of $4.9 million in the prior year.
Internet Retailer calculates the web accounted for 75.9% of sales in Q4 fiscal 2011 compared with 78.8% in Q4 fiscal 2010.