Hary & David's Moose Munch sales boost 1-800-Flowers.Com bottom line
Harry & David operations contributed in a major way to 1-800-Flowers.com’s profitable fiscal 2018.
Although the firm doesn’t break out specifics on Harry & David, the Medford-based gourmet food and gift basket unit carried a hefty load as 1-800-Flowers.com produced $1.15 billion for the fiscal year that ended July 1.
The Carle Place, New York, company said Harry & David achieved double-digit growth in birthday, sympathy and thank-you product collections utilizing digital marketing campaigns.
However, Harry & David’s parent company, 1-800-Flowers.com, reported a bottom line decline of 3 percent in the fiscal year from $1.19 billion a year earlier. Net income was $40.8 million, or 61 cents per share, compared with $44.0 million, or 65 cents per share, in fiscal 2017.
Harry & David’s e-commerce sales jumped 9 percent.
Overall, CEO Chris McCann said, the company’s gourmet foods and gift baskets units grew revenue nearly 5 percent.
Total reported revenue for the fiscal fourth quarter was $229.9 million, down 4 percent compared with $239.5 million in the prior year period. Many of the Long Island firm’s units, including Harry & David, are highly seasonal. The summer months typically see revenue declines. In the fourth quarter, the company’s net loss was $8.2 million, or 13 cents per share, compared with net income of $8.0 million, or 12 cents per share in the prior year period, which included the gain on the sale of Fannie May Confections in May of 2017.