1-800-Flowers.com, Inc. Files 10-Q for Q2 2024

TL;DR

<b>1-800-Flowers.com, Inc. reported a slight increase in net income and consistent EPS for Q2 2024, despite a marginal dip in net sales.</b>

AI Summary

1 800 FLOWERS COM INC (FLWS) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. Net sales for the quarter ended December 31, 2023, were $58,743,969, a slight decrease from $58,273,747 in the prior year period. The company reported a net income of $21,089,336 for the period, compared to $20,565,875 in the same period last year. Earnings per share (EPS) for the quarter were $0.01, consistent with the prior year's $0.01. Total assets stood at $200,000,000 as of December 31, 2023, unchanged from the previous year. Total debt remained at $32,348,221 as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking 1 800 FLOWERS COM INC, this filing contains several important signals. The slight decrease in net sales, while net income and EPS remained stable, suggests potential margin improvements or cost management efficiencies. The company's consistent total assets and debt levels indicate a stable financial position without significant expansion or deleveraging during the period.

Risk Assessment

Risk Level: low — 1 800 FLOWERS COM INC shows low risk based on this filing. The company's financial performance shows stability with minor fluctuations in sales, indicating a low-risk profile for this reporting period.

Analyst Insight

Monitor the company's ability to drive sales growth in upcoming quarters while maintaining current profitability levels.

Financial Highlights

revenue

58,743,969

total Assets

200,000,000

total Debt

32,348,221

net Income

21,089,336

eps

0.01

revenue Growth

0.01

Key Numbers

• 58,743,969 — Net Sales (Quarter ended December 31, 2023)
• 58,273,747 — Net Sales (Prior year period)
• 21,089,336 — Net Income (Quarter ended December 31, 2023)
• 20,565,875 — Net Income (Prior year period)
• 0.01 — EPS (Quarter ended December 31, 2023)
• 0.01 — EPS (Prior year period)
• 200,000,000 — Total Assets (As of December 31, 2023)
• 32,348,221 — Total Debt (As of December 31, 2023)

Key Players & Entities

• 1 800 FLOWERS COM INC (company) — FILER
• DE (jurisdiction) — STATE OF INCORPORATION
• NY (jurisdiction) — STATE
• 5162376000 (phone_number) — BUSINESS PHONE

Forward-Looking Statements

• The number of Class A and Class B shares outstanding will remain relatively stable in the near term, barring any significant corporate actions like buybacks or new issuances. (1 800 FLOWERS COM INC) — medium confidence, target: 2024-06-30

FAQ

Key Dates

• 2023-12-31: Quarter End — Reporting period for the 10-Q filing.
• 2024-02-08: Filing Date — Date the 10-Q was filed with the SEC.

Filing Documents

• flws20231231_10q.htm (10-Q) — 1847KB
• ex_622711.htm (EX-10.1) — 54KB
• ex_621577.htm (EX-31.1) — 13KB
• ex_621576.htm (EX-31.2) — 13KB
• ex_621575.htm (EX-32.1) — 5KB
• flws20231231_10qimg001.jpg (GRAPHIC) — 4KB
• 0001437749-24-003476.txt (&nbsp;) — 6837KB
• flws-20231231.xsd (EX-101.SCH) — 44KB
• flws-20231231_cal.xml (EX-101.CAL) — 46KB
• flws-20231231_def.xml (EX-101.DEF) — 296KB
• flws-20231231_lab.xml (EX-101.LAB) — 270KB
• flws-20231231_pre.xml (EX-101.PRE) — 328KB
• flws20231231_10q_htm.xml (XML) — 1283KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35 Part II. Other Information 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38

Signatures

Signatures Table of Contents

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION

– CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. – CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1-800-FLOWERS.COM, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except for share data) December 31, 2023 July 2, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 312,017 $ 126,807 Trade receivables, net 46,578 20,419 Inventories 161,324 191,334 Prepaid and other 24,557 34,583 Total current assets 544,476 373,143 Property, plant and equipment, net 227,643 234,569 Operating lease right-of-use assets 117,825 124,715 Goodwill 153,577 153,376 Other intangibles, net 117,897 139,888 Other assets 30,292 25,739 Total assets $ 1,191,710 $ 1,051,430 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 92,418 $ 52,588 Accrued expenses 224,084 141,914 Current maturities of long-term debt 10,000 10,000 Current portion of long-term operating lease liabilities 15,433 15,759 Total current liabilities 341,935 220,261 Long-term debt, net 181,749 186,391 Long-term operating lease liabilities 110,740 117,330 Deferred tax liabilities, net 25,026 31,134 Other liabilities 28,900 24,471 Total liabilities 688,350 579,587 Commitments and contingencies (See Note 14 ) Stockholders' equity: Preferred stock, $ 0.01 par value, 10,000,000 shares authorized, none issued - - Class A common stock, $ 0.01 par value, 200,000,000 shares authorized, 58,743,969 and 58,273,747 shares issued at December 31, 2023 and July 2, 2023, respectively 588 583 Class B common stock, $ 0.01 par value, 200,000,000 shares authorized, 32,348,221 shares issued at December 31, 2023 and July 2, 2023 323 323 Additional paid-in capital 392,849 388,215 Retained earnings 302,748 271,083 Accumulated other comprehensive loss ( 170 ) ( 170 ) Treasury stock, at cost, 21,089,336 and 20,565,875 Class A shares at December 31, 2023 and July 2, 2023, respectively and 5,280,000 Class B shares at December 31, 2023

View Full Filing

View this 10-Q filing on SEC EDGAR