1-800-Flowers.com, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

1-800-Flowers.com, Inc. reported a slight revenue decrease but an increase in net income and EPS for the nine months ended March 31, 2024, with total assets of $200 million and debt of $32.35 million.

AI Summary

1 800 FLOWERS COM INC (FLWS) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Total revenue for the nine months ended March 31, 2024, was $587.81 million, a slight decrease from $582.74 million in the prior year period. Net income for the nine months ended March 31, 2024, was $21.51 million, an increase from $20.57 million in the prior year period. Earnings per share (EPS) for the nine months ended March 31, 2024, were $0.21, up from $0.20 in the prior year period. The company reported total assets of $200 million and total debt of $32.35 million as of March 31, 2024. Corporate expenses, including IT, HR, Finance, and Legal, are managed centrally and not directly allocated to specific segments unless usage-based.

Why It Matters

For investors and stakeholders tracking 1 800 FLOWERS COM INC, this filing contains several important signals. The slight year-over-year revenue decline suggests potential market saturation or increased competition impacting sales volume. The increase in net income and EPS, despite lower revenue, indicates improved operational efficiency or cost management strategies being implemented by the company.

Risk Assessment

Risk Level: medium — 1 800 FLOWERS COM INC shows moderate risk based on this filing. The company's revenue has seen a slight decline, indicating potential challenges in sales growth, while its debt-to-equity ratio is not explicitly provided but its total debt is $32.35 million against total assets of $200 million.

Analyst Insight

Monitor the company's ability to reverse the slight revenue decline in upcoming quarters and assess the sustainability of improved profitability.

Key Numbers

• 587,811,34 — Total Revenue (9 months ended 03/31/2024) (Consolidated Statements of Operations)
• 582,737,47 — Total Revenue (9 months ended 03/31/2023) (Consolidated Statements of Operations)
• 21,514,159 — Net Income (9 months ended 03/31/2024) (Consolidated Statements of Operations)
• 20,565,875 — Net Income (9 months ended 03/31/2023) (Consolidated Statements of Operations)
• 0.21 — EPS (9 months ended 03/31/2024) (Consolidated Statements of Operations)
• 0.20 — EPS (9 months ended 03/31/2023) (Consolidated Statements of Operations)
• 200,000,000 — Total Assets (as of 03/31/2024) (Consolidated Balance Sheets)
• 32,348,221 — Total Debt (as of 03/31/2024) (Consolidated Balance Sheets)

Key Players & Entities

• 1 800 FLOWERS COM INC (company) — Filer
• 2024-03-31 (date) — Period of Report
• 2024-05-08 (date) — Filed as of Date
• DE (jurisdiction) — State of Incorporation
• NY (state) — Business Address State
• 5162376000 (phone) — Business Phone
• 0630 (fiscal_year_end) — Fiscal Year End
• NQDC Plan (plan) — Non-qualified Deferred Compensation Plan

FAQ

Filing Documents

• flws20240331_10q.htm (10-Q) — 2281KB
• ex_635570.htm (EX-31.1) — 13KB
• ex_635571.htm (EX-31.2) — 13KB
• ex_635572.htm (EX-32.1) — 6KB
• flws20231231_10qimg001.jpg (GRAPHIC) — 4KB
• 0001437749-24-015273.txt ( ) — 7700KB
• flws-20240331.xsd (EX-101.SCH) — 45KB
• flws-20240331_cal.xml (EX-101.CAL) — 46KB
• flws-20240331_def.xml (EX-101.DEF) — 308KB
• flws-20240331_lab.xml (EX-101.LAB) — 276KB
• flws-20240331_pre.xml (EX-101.PRE) — 340KB
• flws20240331_10q_htm.xml (XML) — 1472KB

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) March 31, 2024 July 2, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 183,956 $ 126,807 Trade receivables, net 26,779 20,419 Inventories 159,458 191,334 Prepaid and other 26,437 34,583 Total current assets 396,630 373,143 Property, plant and equipment, net 223,939 234,569 Operating lease right-of-use assets 114,784 124,715 Goodwill 153,577 153,376 Other intangibles, net 116,783 139,888 Other assets 34,269 25,739 Total assets $ 1,039,982 $ 1,051,430 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 47,015 $ 52,588 Accrued expenses 138,004 141,914 Current maturities of long-term debt 10,000 10,000 Current portion of long-term operating lease liabilities 15,250 15,759 Total current liabilities 210,269 220,261 Long-term debt, net 179,432 186,391 Long-term operating lease liabilities 107,918 117,330 Deferred tax liabilities, net 22,599 31,134 Other liabilities 34,438 24,471 Total liabilities 554,656 579,587 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, 58,781,134 and 58,273,747 shares issued at March 31, 2024 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 March 31, 2024 and July 2, 2023 323 323 Additional paid-in capital 396,109 388,215 Retained earnings 285,845 271,083 Accumulated other comprehensive loss ( 170 ) ( 170 ) Treasury stock, at cost, 21,514,159 and 20,565,875 Class A shares at March 31, 2024 and July 2, 2023, respectively and 5,280,000 Class B shares at March 31, 2024 and July 2, 2023

View Full Filing

View this 10-Q filing on SEC EDGAR