1-800-Flowers.com Inc. (FLWS) stock plummeted by 5.05% on November 1, 2024, as the company reported disappointing first-quarter fiscal 2025 results and lowered its full-year guidance, reflecting the ongoing challenges in the consumer spending environment.
The online gifting and floral retailer saw a 10% decline in consolidated revenue for the first quarter ended September 30, 2024, driven by an 8% drop in e-commerce revenue. Orders fell by 6.5%, while the average order value (AOV) decreased by 1.5%, indicating pressure on pricing and consumer spending habits.
The company's gourmet food and gift baskets segment was particularly hard hit, with revenue declining by 14.4%. Additionally, the BloomNet segment experienced a significant 20.1% revenue decline due to the loss of orders from a business partner merger. The company's net loss widened to $27.9 million in the first quarter, compared to the prior year.
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