1-800-Flowers wilts after Q3 results, outlook

1-800-FLOWERS.COM

28/04/2022 15:26

** 1-800-Flowers.com  FLWS.O  shares down 20.99% at $9.66 as
trading resumes after volatility halt
    ** The e-commerce gifts provider reported a Q3 adjusted loss
of 32 cents per share on revenue of $469.6 mln, short of
expectations calling for a loss of 28 cents per share and
$486.89 mln in revenue, per Refinitiv data  urn:newsml:reuters.com:*:nASA038P1
    ** FLWS said EPS loss primarily reflected "significant
year-over-year cost increases for inbound and outbound shipping,
labor, and digital marketing"
    ** For full year, FLWS sees total revenue growth of 3% to 5%
compared with prior yr; adjusted EBITDA between $110 mln to $115
mln and adjusted EPS between 55 cents to 60 cents per share
    ** FLWS cited headwinds associated with the pandemic,
increased labor costs, inbound and outbound shipping and
marketing, and consumer concerns regarding price inflation and
geopolitical issues, offset somewhat by the co's ability to
attract new customers and add members to its loyalty program
    ** Current FY EPS estimate if 86 cents per share, with
revenue estimate at $2.263 bln, per Refinitiv data
    ** FLWS shares fell as low as $9.13 on the session, lowest
level since Nov 16, 2017; stock on track for biggest daily pct
drop since Jan. 27 and is down ~58% YTD

 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))