Today 1800 Flowers.com, symbol FLWS, reported its fiscal 2010 Third Quarter results. For the quarter, revenue was up slightly to 155.5 million. Gross profit margin was 38.2 percent, slightly lower compared to 39.9 percent in the prior year which were attributed to lower demand and free shipping promotions. The company has $38 million in cash and no debt outstanding.
Earnings per share were a loss of $.09 compared to a loss of $1.01 in the prior year.
Mr. James McCann, CEO, spoke briefly on the call about his experience on Under Cover Boss on CBS, which had 15 million viewers. The show provided a positive outlet of exposure for the company and has been a positive brand awareness tool for the company.
Mr. McCann also stated that 1800 baskets.com and mobile commerce applications are doing well. The company sees improving macro demand and increasing gross margins across all brands. The company is preparing for mother’s day on May 9th and is planning on managing its promotions better this year learning from Valentine’s Day and from Mother’s day last year.