1-800-Flowers withers on Q4 loss, dour forecast

1-800-FLOWERS.COM

01/09/2022 14:23

** Shares of online flowers and gifts seller 1-800-Flowers.com
 FLWS.O  down more than 8% at $7.95 before the bell 
    ** FLWS forecasts a 3% to 6% drop in Q1 revenue, saying
consumers are spending cautiously amid inflation in food and gas
 urn:newsml:reuters.com:*:nTUA6CHWTQ
    ** Posts Q4 net loss of $22.3 mln, or 34 cents per share,
compared with a profit of $13.3 mln, or 20 cents/shr a year
earlier
    ** Co's gross margins fell 700 basis points to 33.7%, owing
to increased labor and shipping expenses, commodity costs as
well as perishable inventory write-downs
    ** FLWS expects costs to remain high through Q1 
    ** As of last close, stock has shed ~63% of its value this
year

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))