Financial results

1-800-FLOWERS.COM breaks through the $2bn revenues barrier

By Anthony Myers contact

- Last updated on GMT

Chris McCann, CEO of 1-800-FLOWERS.COM. Pic: 1-800-FLOWERS.COM
Chris McCann, CEO of 1-800-FLOWERS.COM. Pic: 1-800-FLOWERS.COM

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1-800-FLOWERS.COM, a leading e-commerce gift and confectionery provider, has reported total net revenues increased by 42.5% to a record $2.12bn in the full year ended June 27, 2021, compared with $1.49bn in the prior year.

Net income was $118.7m, or $1.78 per diluted share, compared with net income of $59.0m, or $0.89 per diluted share, in the prior year period.

The company’s statement said adjusted net income increased 88.6% to $122.6m, or $1.84 per diluted share, compared with $65.0m, or $0.98 per diluted share, in the prior year.

Chris McCann, CEO of 1-800-FLOWERS.COM, said the results reflect strong growth across the company’s three business segments.

We are very proud of our record top and bottom-line results for fiscal 2021. These achievements, in what was both an incredibly dynamic and challenging year, reflect the dedication of our associates across the company who worked diligently to overcome the unprecedented hurdles of the global pandemic to help millions of customers stay connected and express themselves to the important people in their lives​.”

Milestone

For the year, McCann noted the company had achieved a significant milestone, surpassing $2bn in revenues and it expects to continue to drive sustainable, long-term revenue growth, as well as strong cash flows, both organically and through strategic acquisitions that can help expand its unique ecommerce platform.

Our guidance for double-digit revenue growth in fiscal 2022 is based on several factors, including the significant shift of consumers to ecommerce shopping, which we anticipate will continue, the tremendous growth and positive behaviours we have seen in our customer files and our significantly expanded product offering​.”

McCann said the company’s customer file grew at an unprecedented level in fiscal 2021 with new-to-file customers increasing 62%, adding more than 6.5 million new customers, and helping to bring the company’s 12-month active customer file to approximately 14 million. “Equally important​,” he said, “was that, even with strong new customer growth, existing customers represented approximately 64 %of our total revenue in fiscal 2021​.”

The company’s e-commerce business platform features many famous family brands, including: 1-800-Flowers.com, 1-800-Baskets.com, Cheryl’s Cookies, Harry & David, PersonalizationMall.com, Shari’s Berries, FruitBouquets.com, Moose Munch, The Popcorn Factory, Wolferman’s Bakery, Stock Yards and Simply Chocolate.

Looking ahead into fiscal 2022, we will continue to focus on engaging with our customers through increasingly personalised content, enhanced customer care initiatives, and a growing range of experiential programs designed to deepen our relationships and build a true customer community​,” said McCann.

Related topics: Retail & Shopper Insights

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