1-800-FLOWERS.COM, Inc. (FLWS), a leading retailer and distributor of floral and gourmet food gifts, announced a reduced net loss for the fourth quarter, primarily due to an income tax benefit, though revenue for the period saw a decline.Additionally, the company disclosed that its Chief Financial Officer, Bill Shea, plans to retire effective December 29, 2024. In response, 1-800-FLOWERS.COM has appointed James Langrock, the current Chief Administrative Officer, as the new Chief Financial Officer, effective the same date.The company reported a net loss of $20.87 million or $0.32 per share for the fourth quarter, which is an improvement from last year’s net loss of $22.55 million or $0.35 per share for the same period.When excluding one-time items, the adjusted loss amounted to $21.79 million or $0.34 per share. Analysts had anticipated an average loss of $0.26 per share, typically excluding special items.Quarterly revenue declined by 9.5% to $360.91 million from $398.81 million in the corresponding period of the previous year. This figure fell short of the consensus estimate of $374.37 million.”For Fiscal 2025, despite a persistently challenging consumer environment, we expect revenue trends to improve as the year progresses. This optimism is driven by our Relationship Innovation initiatives, which have expanded our product offerings, broadened price points, and enhanced the user experience, coupled with increased marketing expenditures,” stated the company.Looking forward, the company anticipates fiscal 2025 revenue to range from flat to low-single-digit decreases compared to the prior year.The material has been provided by InstaForex Company – www.instaforex.com
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