1-800-FLOWERS.COM Clocks 17.9% Dip In Q4 Topline, Forecasts Revenue To Rebound During Holiday Period
Portfolio Pulse from Nabaparna Bhattacharya
1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) reported Q4 revenues of $398.81 million, missing the consensus of $413.31 million, a 17.9% Y/Y slump. However, the company beat the consensus with an adjusted EPS of $(0.28) per share. The company's gross profit margin increased to 37.1% due to lower ocean freight costs and strategic pricing initiatives. The company expects FY24 total revenues to decline in the mid-single digits compared to the prior year, but rebound during the holiday period.
August 31, 2023 | 3:22 pm
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1-800-FLOWERS.COM reported lower than expected Q4 revenues but beat EPS consensus. The company expects FY24 revenues to decline but rebound during the holiday period.
The company's Q4 revenues missed the consensus, which could negatively impact the stock. However, the EPS beat and the expected rebound in revenues during the holiday period could balance out the initial negative impact, leading to a neutral short-term impact.
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