1-800-FLOWERS President & CEO Chris McCann interviewed by Advisor Access

Tuesday, 22. September 2020 15:30

SAN FRANCISCO, Sept. 22, 2020 (GLOBE NEWSWIRE) -- As markets and retailers have been buffeted by 2020’s unique challenges, 1-800-FLOWERS.COM, Inc. (FLWS:NASDAQ) has managed to meet the needs of its investors and customers by enhancing its Celebratory Ecosystem and fortifying its business strategy with new acquisitions. Leveraging the popularity of its e-commerce mainstays, which include Harry & David®, The Popcorn Factory®, Cheryl’s Cookies®, 1-800-Baskets.com®, Simply Chocolate®, and Shari’s Berries®, as well as the most recent addition to its brand portfolio, PersonalizationMall.com, the company’s focus on consumer satisfaction drove strong revenue growth over the past fiscal year.

  • ~$1.5 billion total net revenues in fiscal year 2020, a 19.3% increase over 2019
  • Net income in fiscal year 2020 of $65 million
  • New customer growth over the fiscal year of more than 30%
  • Increased revenue growth in the Gourmet Foods and Gift Baskets segment of more than 112% in Q4/FY 2020
  • Acquisition of PersonalizationMall.com and additional services and products developed for vendors and customers

Advisor Access spoke with Chris McCann, president and CEO of 1-800-FLOWERS.COM, Inc.

Click Here for the Corporate Presentation

Advisor Access: How would you describe 1-800-FLOWERS.COM, Inc. and what factors were instrumental in driving record revenue and profit growth for the company’s recently completed fiscal 2020 fourth quarter and full year?

Chris McCann: We are the leading provider of gifts designed to help customers express, connect, and celebrate. Our total net revenues for our fiscal 2020 fourth quarter (Q4) increased 61.1% to $418 million, and our total net revenues for the full year increased 19.3% to $1.49 billion. It’s important to note that through the first three quarters of our fiscal year—before the impact of the COVID-19 pandemic—we achieved solid top- and bottom-line growth, as well as strong growth in our customer files…

AA: 1-800-FLOWERS.COM, Inc. has three business segments. What are the revenues for each segment and which brands are within each segment?

CM: Gourmet Foods and Gift Baskets is our largest business segment, with the highest revenue and gross profit margin (GPM) growth potential. Fiscal 2020 revenues in this segment increased 21.1% to $785.5 million.

Our Consumer Floral segment is the category leader, and our 1-800-Flowers.com® floral brand has powerful brand equity. Fiscal 2020 revenues in this segment increased 19.2% to $593.2 million, further extending our market leadership position…

Our BloomNet® Wire Service segment achieved fiscal 2020 revenue growth of 8.6%, with revenues for the year increasing to $111.8 million. BloomNet is the category leader in quality and innovation…

AA: Which specific products and programs can you highlight in the record revenue growth of 1-800-FLOWERS.COM, Inc. during the company’s fiscal 2020 fourth quarter?

CM: In our Gourmet Foods and Gift Baskets segment, revenue growth for the fiscal 2020 fourth quarter increased more than 112%, as products and product collections that had already been showing strong growth became go-to purchases for our customers…

AA: In addition to substantial growth from existing customers, 1-800-FLOWERS.COM, Inc. is significantly growing its new customer file. What do these gains reflect?

CM: Through the first three quarters of fiscal 2020, we achieved more than 10% growth in our new customer file. This reflects…

AA: What advantages does the recently completed acquisition of PersonalizationMall.com bring to 1-800-FLOWERS.COM, Inc.?

CM: We are very pleased to have closed the acquisition of PersonalizationMall.com well ahead of the key holiday season, with the business up and running and already growing nicely on a year-over-year basis…

AA: In what ways is 1-800-FLOWERS.COM, Inc. positioned to continue meeting the challenges of the current environment, and also to sustain future growth?

CM: We entered fiscal 2021 with a combination of…Strong Growth in revenues…a strong balance sheet…Proven leveragability…strength of our brands…

AA: Thank you, Chris.

Read the complete answers to these questions and more in the full interview with 1-800-FLOWERS.COM, Inc., HERE.

About Advisor Access:

Advisor-Access LLC brings compelling investment ideas to investors in the form of in-depth interviews with company management and the latest fact sheets and corporate presentations.

1-800-FLOWERS.COM, Inc. has paid Advisor Access a fee to distribute this email. Chris McCann had final approval of the content and is wholly responsible for the validity of the statements and opinions. 


Advisor Access
Rick Baggelaar
Related Links: 
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.