1-800-FLOWERS.COM (NASDAQ:FLWS) has revealed its fourth quarter and fiscal 2024 results, marking a year of mixed financial health.
For the fiscal year 2024, the company posted a total revenue of $1.83 billion, reflecting a 9.2% decline from the previous year.
Additionally, the company reported a net loss of $6.1 million, influenced by a significant $19.8 million non-cash impairment charge taken in the second quarter.
Despite the revenue downturn, the company saw a notable increase in its gross profit margin, which rose 260 basis points to 40.1%.
Adjusted EBITDA also saw a rise, reaching $93.1 million for the fiscal year.
Meanwhile, the fourth quarter was particularly challenging, with consolidated revenues dropping 9.5% to $360.9 million from $398.8 million in the same quarter the previous year.
The quarter ended with a net loss of $20.9 million, or $0.32 per share, which is slightly better compared to the $22.5 million loss, or $0.35 per share, reported in the prior year.
The gross profit margin for the quarter improved to 38.4% from 37.1%.
Looking ahead to fiscal year 2025, the company forecasts its adjusted EBITDA to be between $85 million and $95 million.
In terms of stock performance, 1-800-Flowers.com's share price have fallen by 5.5% this quarter and lost 16.5% so far this year.