1-800-FLOWERS.COM Cuts FY24 Total Revenues Outlook On Softer Than Anticipated Revenue Improvement; Now Sees Decline Of 7%-9% (Prior View Decline In The Mid-Single Digits)
Portfolio Pulse from Benzinga Newsdesk
1-800-FLOWERS.COM (FLWS) has revised its FY24 revenue outlook downwards, now expecting a decline of 7%-9%, due to softer than anticipated revenue improvement. However, the company maintains its Adjusted EBITDA and Free Cash Flow expectations, citing improvements in gross profit margin and expense optimization efforts as mitigating factors.
February 01, 2024 | 11:56 am
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1-800-FLOWERS.COM has lowered its FY24 revenue expectations to a 7%-9% decline, while maintaining its Adjusted EBITDA and Free Cash Flow projections.
The downward revision of the revenue outlook for FY24 by 1-800-FLOWERS.COM is a negative signal to investors, indicating that the company is facing challenges in achieving its previously anticipated revenue growth. This could lead to negative investor sentiment in the short term, potentially impacting the stock price negatively. However, the company's efforts to maintain its Adjusted EBITDA and Free Cash Flow expectations through improved gross profit margins and expense optimization may provide some cushion to the negative impact.
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