ACCO Brands (ACCO) – Declares Quarterly Dividend

Posted on May 4, 2021 by Admin

ACCO Brands Corporation Declares Quarterly Dividend

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.065 per share. The dividend will be paid on June 21, 2021, to stockholders of record as of the close of business on May 27, 2021.

About ACCO Brands Corporation

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE^®, Barrilito^®, Derwent^®, Esselte^®, Five Star^®, Foroni^®, GBC^®, Hilroy^®, Kensington^®, Leitz^®, Mead^®, PowerA^®, Quartet^®, Rapid^®, Rexel^®, Swingline^®, Tilibra^®, Wilson Jones^®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Christine Hanneman
Investor Relations
(847) 796-4320

Julie McEwan
Media Relations
(937) 974-8162

Source: ACCO Brands Corporation

1-800-Flowers.com (FLWS) – Revenue Growth Expected On Top Of The Pandemic Lift

Posted on April 30, 2021 by Admin

Friday, April 30, 2021

1-800-Flowers.com (FLWS)
Revenue Growth Expected On Top Of The Pandemic Lift

1-800-FLOWERS.COM, Inc. is the leading provider of gourmet and floral gifts for all occasions. For nearly 40 years, 1-800-FLOWERS® has been helping deliver smiles for customers with gifts for every occasion, including fresh flowers, premium, gift-quality fruits, and other gourmet items from Harry & David®, popcorn and specialty treats from The Popcorn Factory®; cookies and baked gifts from Cheryl’s®; premium chocolates and confections from Fannie May®; gift baskets and towers from 1-800-Baskets.com®; premium English muffins and other breakfast treats from Wolferman’s; carved fresh fruit arrangements from FruitBouquets.com; and top quality steaks and chops from Stock Yards®. The Company’s BloomNet® international floral wire service provides a broad range of quality products and value-added services designed to help professional florists grow their businesses profitably.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Fiscal Q3 exceeds expectations. Q3 revenues surged 70.1% to $474.2 million, well above our $404.8 million estimate. Adjusted EBITDA beat our expectations, $15.4 million versus $4.1 million estimate. The company benefited from solid growth in PersonalizationMall.com and 83% growth in Harry & David.

Stronger than expected guidance for Q4. Management guided revenues to a range of 10% to 15% growth, with adjusted EBITDA of $25 million to $30 million. This was stronger than our revenue growth estimate of 6.7% and adjusted EBITDA of $18.2 million. The favorable revenue momentum reflects contributions from its recent acquisition PersonalizationMall.com, as well as growth in its Floral division …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

Schwazze (SHWZ) – Preliminary 1Q21 Revenue Results

Posted on April 30, 2021 by Admin

Friday, April 30, 2021

Schwazze (SHWZ)
Preliminary 1Q21 Revenue Results

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Preliminary 1Q21 Results. Yesterday, Schwazze announced preliminary revenue for the first quarter of 2021 ended March 31st. Revenue grew approximately 503% to $19.3 million, with the increase largely attributable to the revenue associated with the acquisition of Mesa Organics and Star Buds. We had estimated revenue for the first quarter of $20.2 million. Including the Star Buds locations as if all had been acquired January 1, 2021, proforma revenue for the first quarter would have been $26.8 million.

Star Buds Integration. Integration of the Star Buds locations is proceeding above expectations, including the synergies between the operating companies. Recall, management tripled Purplebees output and revenues, and there has been significant margin improvement in former Mesa retail dispensaries. This level of operating detail is being spread across the Star Buds chain and likely will result in an …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – 1-800-Flowers.com (FLWS) – Reports Record Revenue and Earnings Results for its Fiscal 2021 Third Quarter

Posted on April 29, 2021 by Admin

1-800-FLOWERS.COM, Inc. Reports Record Revenue and Earnings Results for its Fiscal 2021 Third Quarter

Total net revenues increased 70.1 percent to $474.2 million, compared with total revenues of $278.8 million in the prior year period, driven by ecommerce growth of 83.2 percent.

Net Income for the quarter increased $11.1 million to $1.4 million, or $0.02 per share, compared with a net loss of $9.7 million, or a loss of $0.15 per diluted share in the prior year period. On an adjusted basis, net income for the quarter was $1.5 million, or $0.02 per share, compared with an adjusted net loss of $9.0 million, or a loss of $0.14 per share, in the prior year period.

Adjusted EBITDA¹ for the quarter increased $17.8 million to $15.4 million, compared with a loss of $2.4 million in the prior year period.

Company guides to 10-to-15 percent revenue growth for its fiscal fourth quarter and approximately 40 percent for its full 2021 fiscal year. Company also states that it anticipates double-digit revenue growth will continue in its next fiscal year.

(¹ Refer to “Definitions of Non-GAAP Financial Measures” and the tables attached at the end of this press release for reconciliation of Non-GAAP results to applicable GAAP results.)

CARLE PLACE, N.Y.–(BUSINESS WIRE)– 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading e-commerce provider of products and services designed to inspire more human expression, connection, and celebration, today reported results for its Fiscal 2021 third quarter ended March 28, 2021.

Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said “The record top and bottom-line results for our fiscal third quarter reflect the strength of the ecommerce platform that we have built to drive solid, sustainable growth. The strong results for the quarter represent a continuation of the momentum that we have been building over the past several years. In addition, the acceleration provided by COVID has resulted in profound shifts in consumer behavior that our massive database, strong brand portfolio, and leading-edge technology will turn into a new era of growth.

“Our highly scalable and leverageable business platform includes our all-star family of trusted brands, our advanced technology stack, our experience and expertise in digital marketing, our large and rapidly growing customer file, and our extensive manufacturing, distribution and logistics capabilities. We have continued to make significant investments in these areas to help drive strong organic growth while concurrently augmenting our capabilities and product selection with highly accretive acquisitions such as Personalization Mall.”

McCann said that in addition to the strong top and bottom-line performance during the quarter, the Company also continued to grow its customer file at a record pace. “We have continued to leverage our digital marketing programs to take advantage of the structural shift that consumers have made to ecommerce. As a result, we have added millions of new customers while driving increased purchase frequency from existing customers this year. In addition, we continue to see strong, double-digit growth in customers joining our Celebrations Passport^® loyalty program, which now has more than 1 million members. Passport is a key driver of increased purchase frequency, customer retention, and customer lifetime value. The continuation of these positive trends further enhances our ability to deliver sustainable growth both near and longer term.”

Regarding the Company’s current fiscal fourth quarter, McCann said that the Company continued to see solid ecommerce demand in its 1-800-Flowers.com floral business through the first four weeks of the quarter. “We enter the fiscal fourth quarter with continued strong momentum and we expect double digit topline growth for the quarter despite the steep change in ecommerce growth which began in the prior year fourth quarter that we are now comparing against. That will put us on track to achieve over
$2 billion of revenue in our current fiscal year.”

McCann concluded, “Based on our expectations for the fourth quarter, combined with what we see going forward, we anticipate driving double-digit growth in our next fiscal year.”

Third Quarter 2021 Financial Results

Total consolidated revenues increased 70.1 percent, or
$195.4 million, to
$474.2 million, compared with total consolidated revenues of
$278.8 million in the prior year period, driven by ecommerce growth of 83.2 percent. Revenue growth in the quarter included contributions from PersonalizationMall.com which the Company acquired in August 2020. Excluding the contribution from PersonalizationMall.com total net revenues increased 55.7 percent, compared with the prior year period.

Gross profit margin for the quarter increased 40 basis points to 38.9 percent, compared with 38.5 percent in the prior year period. Operating expenses as a percent of total revenues improved 340 basis points to 39.0 percent, compared with 42.4 percent in the prior year period. Excluding the impacts of the Company’s non-qualified deferred 401k compensation plan and one-time transaction costs, operating expenses, as a percentage of total revenues improved 430 basis points to 38.8 percent in the quarter.

The combination of these factors resulted in an increase of
$17.8 million, in Adjusted EBITDA to
$15.4 million, compared with Adjusted EBITDA loss of
$2.4 million in the prior year period. Net income for the quarter increased
$11.1 million, to
$1.4 million, or
$0.02 per diluted share, compared with a net loss of
$9.7 million, or
$0.15 per share, in the prior year period. On an adjusted basis, net income for the quarter was
$1.5 million, or
$0.02 per share, compared with an adjusted net loss of
$9.0 million, or a loss of
$0.14 per share, in the prior year period.

Segment Results:

The Company provides selected financial results for its Gourmet Foods and Gift Baskets, Consumer Floral and Gifts, and BloomNet^® segments in the tables attached to this release and as follows:

Gourmet Foods and Gift Baskets: Revenues for the quarter increased 82.7 percent, or
$79.3 million, to
$175.2 million, compared with
$95.9 million in the prior year period, reflecting strong ecommerce growth. Gross profit margin increased 500 basis points to 39.4 percent, compared with 34.4 percent in the prior year period reflecting reduced promotional marketing partially offset by increased labor and shipping costs. Segment contribution margin improved 293.4 percent, or
$18.4 million, to
$12.1 million, compared with a loss of
$6.3 million in the prior year period.

Consumer Floral and Gifts: Revenues in this segment increased 70.6 percent, or
$107.8 million, to
$260.4 million, compared with
$152.6 million in the prior year period. Excluding the contribution from PMall, revenues in this segment increased 44.3 percent compared with the prior year period. Gross profit margin decreased 150 basis points to 37.8 percent, compared with 39.3 percent in the prior year period, primarily reflecting higher shipping costs and weather-related costs incurred during the Valentine holiday period. Segment contribution margin increased 46.0 percent, or
$7.1 million, to
$22.5 million, compared with
$15.4 million in the prior year period. Excluding the contribution from PMall, segment contribution margin increased 15.3 percent, or
$2.4 million, compared with the prior year period.

BloomNet: Revenues for the quarter increased 27.7 percent to
$38.8 million, or
$8.4 million, compared with
$30.4 million in the prior year period. Gross profit margin was 44.3 percent, a decrease of 300 basis points compared with 47.3 percent in the prior year period, primarily reflecting product mix. Segment contribution margin increased 20.1 percent to
$12.0 million, or
$2.0 million, compared with
$10.0 million in the prior year period.

Company Guidance

The Company’s guidance for its fiscal fourth quarter ending June 27, 2021 is based on several factors including:
- continued solid ecommerce demand in the 1-800-Flowers.com floral business that has carried into April combined with anticipated contributions from PMall, partially offset by the shift of some Easter revenues into the Company’s third quarter, and;
- the challenging comparison with the prior year period which included record top and bottom-line growth resulting from the surge in ecommerce demand and significantly lower year-over-year digital marketing pricing associated with the initial impact of the COVID-19 pandemic.
As a result, the Company expects to achieve total consolidated revenue growth for its fiscal fourth quarter in a range of 10-to-15 percent, compared with the prior year period.
Based on this revenue growth, somewhat offset by higher digital marketing costs, the Company anticipates achieving Adjusted EBITDA for its fiscal fourth quarter in a range of
$25.0 million -to-
$30 million, compared with
$32.5 million in the prior year period, and EPS in a range of
$0.18-to-
$0.20, compared with EPS of
$0.23 in the prior year period.
Combined with the results of its first three fiscal quarters, the Company anticipates achieving the following results for its full 2021 fiscal year:
- Revenue growth of approximately 40 percent to total revenue for the year of more than
  $2.0 billion compared with
  $1.49 billion in the prior year.
- Adjusted EBITDA in a range of
  $208.0 million -to-
  $213.0 million compared with
  $129.5 million in the prior year,
- EPS in a range of
  $1.75 -to-
  $1.80 compared with EPS of
  $0.98 in the prior year, and
- Free Cash Flow of more than
  $100 million.

Definitions of non-GAAP Financial Measures:

We sometimes use financial measures derived from consolidated financial information, but not presented in our financial statements prepared in accordance with
U.S. generally accepted accounting principles (“GAAP”). Certain of these are considered “non-GAAP financial measures” under the
U.S. Securities and Exchange Commission rules. Non-GAAP financial measures referred to in this document are either labeled as “non-GAAP” or designated as such with a “1”. See below for definitions and the reasons why we use these non-GAAP financial measures. Where applicable, see the Selected Financial Information below for reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures.

EBITDA and Adjusted EBITDA

We define EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of stock-based compensation, Non-Qualified Plan Investment appreciation/depreciation, and for certain items affecting period-to-period comparability. See Selected Financial Information for details on how EBITDA and Adjusted EBITDA were calculated for each period presented. The Company presents EBITDA and Adjusted EBITDA because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company uses EBITDA and Adjusted EBITDA as factors to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company’s credit agreement uses EBITDA and Adjusted EBITDA to determine its interest rate and to measure compliance with certain covenants. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of the limitations are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company’s working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company’s debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Adjusted EBITDA should only be used on a supplemental basis combined with GAAP results when evaluating the Company’s performance.

Segment Contribution Margin and Adjusted Segment Contribution Margin

We define Segment Contribution Margin as earnings before interest, taxes, depreciation and amortization, before the allocation of corporate overhead expenses. Adjusted Contribution Margin is defined as Contribution Margin adjusted for certain items affecting period-to-period comparability. See Selected Financial Information for details on how Segment Contribution Margin and Adjusted Segment Contribution Margin were calculated for each period presented. When viewed together with our GAAP results, we believe Segment Contribution Margin and Adjusted Segment Contribution Margin provide management and users of the financial statements meaningful information about the performance of our business segments. Segment Contribution Margin and Adjusted Segment Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of the Segment Contribution Margin and Adjusted Segment Contribution Margin is that they are an incomplete measure of profitability as they do not include all operating expenses or non-operating income and expenses. Management compensates for these limitations when using this measure by looking at other GAAP measures, such as Operating Income and Net Income.

Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:

We define Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share as Net Income (Loss) and Net Income (Loss) Per Common Share adjusted for certain items affecting period-to-period comparability. See Selected Financial Information below for details on how Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share were calculated for each period presented. We believe that Adjusted Net Income (Loss) and Adjusted or Comparable EPS are meaningful measures because they increase the comparability of period-to-period results. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, GAAP Net Income (Loss) and Net Income (Loss) Per Common share, as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies.

About 1-800-FLOWERS.COM, Inc.

1-800-FLOWERS.COM, Inc. is a leading provider of gifts designed to help customers express, connect, and celebrate. The Company’s ecommerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, Cheryl’s Cookies®, Harry & David®, PersonalizationMall.com®, Shari’s Berries®, FruitBouquets.com®, Moose Munch®, The Popcorn Factory®, Wolferman’s Bakery®, Stock Yards® and Simply Chocolate®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad-range of products and services designed to help members grow their businesses profitably; Napco?, a resource for floral gifts and seasonal décor; and DesignPac Gifts, LLC, a manufacturer of gift baskets and towers. 1-800-FLOWERS.COM, Inc. was named to the Forbes 2021 Best Small Companies List. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com or follow @1800FLOWERSInc on Twitter.

Special Note Regarding Forward Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements regarding the Company’s ability to achieve its expected results for the fiscal-year 2021 fourth quarter and full year as well as its guidance for revenue growth in its fiscal 2022 full year; the impact of the COVID-19 pandemic on the Company; its ability to successfully integrate acquired businesses and assets; its ability to cost-effectively acquire and retain customers; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. Reconciliations for forward looking figures would require unreasonable efforts at this time because of the uncertainty and variability of the nature and amount of certain components of various necessary GAAP components, including for example those related to compensation, tax items, amortization or others that may arise during the year, and the Company’s management believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The lack of such reconciling information should be considered when assessing the impact of such disclosures. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company’s SEC filings, including the Company’s Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.

Conference Call:

The Company will conduct a conference call to discuss the above details and attached financial results today, Thursday, April 29, 2021, at 8:00 a.m. (EDT). The call will be webcast live (Webcast URL: https://services.choruscall.com/links/flws210429GQPS0B7R.html) which can be accessed from the Investor Relations section of the 1-800-FLOWERS.COM, Inc. website at 1800flowersinc.com. A recording of the call will be posted on the Investor Relations section of the Company’s website within two hours of the call’s completion. A telephonic replay of the call can be accessed beginning at 2:00 p.m. (EDT) on the day of the call through May 6, 2021, at: (US) 1-877-344-7529; (
Canada) 855-669-9658; (International) 1-412-317-0088; enter conference ID #:10155340. To access the replay using an international dial-in number, please use the link: https://services.choruscall.com/ccforms/replay.html.

Note: The attached tables are an integral part of this press release without which the information presented in this press release should be considered incomplete.

1-800-FLOWERS.COM, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands)

	March 28, 2021		June 28, 2020
		(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	256,783	$	240,506
Trade receivables, net		39,121		15,178
Inventories		122,385		97,760
Prepaid and other		30,243		25,186
Total current assets		448,532		378,630

Property, plant and equipment, net		197,490		169,075
Operating lease right-of-use assets		86,616		66,760
Goodwill		208,048		74,711
Other intangibles, net		139,962		66,273
Other assets		26,672		18,986
Total assets	$	1,107,320	$	774,435

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	60,217	$	25,306
Accrued expenses		215,177		141,741
Current maturities of long-term debt		17,500		5,000
Current portion of long-term operating lease liabilities		11,021		8,285
Total current liabilities		303,915		180,332

Long-term debt		166,213		87,559
Long-term operating lease liabilities		79,803		61,964
Deferred tax liabilities		26,501		28,632
Other liabilities		30,773		16,174
Total liabilities		607,205		374,661
Total stockholders’ equity		500,115		399,774
Total liabilities and stockholders’ equity	$	1,107,320	$	$774,435

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information Consolidated Statements of Operations (in thousands, except for per share data) (unaudited)

	Three Months Ended						Nine Months Ended
	March 28, 2021			March 29, 2020			March 28, 2021			March 29, 2020
Net revenues:
E-Commerce	$	424,768		$	231,851		$	1,441,441		$	847,985
Other		49,466			46,925			193,821			223,696
Total net revenues		474,234			278,776			1,635,262			1,071,681
Cost of revenues		289,535			171,324			936,837			618,911
Gross profit		184,699			107,452			698,425			452,770
Operating expenses:
Marketing and sales		127,923			78,606			402,904			262,849
Technology and development		14,281			11,900			39,937			34,436
General and administrative		30,912			20,031			89,960			64,187
Depreciation and amortization		11,892			7,803			31,792			23,268
Total operating expenses		185,008			118,340			564,593			384,740
Operating income (loss)		(309	)		(10,888	)		133,832			68,030
Interest expense, net		1,553			147			4,520			1,727
Other (income) expense, net		(945	)		2,605			(4,201	)		1,714
Income (loss) before income taxes		(917	)		(13,640	)		133,513			64,589
Income tax expense (benefit)		(2,344	)		(3,983	)		28,171			15,365
Net income (loss)	$	1,427		$	(9,657	)	$	105,342		$	49,224

Basic net income (loss) per common share	$	0.02		$	(0.15	)	$	1.63		$	0.76

Diluted net income (loss) per common share	$	0.02		$	(0.15	)	$	1.58		$	0.74

Weighted average shares used in the calculation of net income (loss) per common share:
Basic		64,885			64,348			64,644			64,517
Diluted		66,474			64,348			66,564			66,378

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information Consolidated Statements of Cash Flows (in thousands) (unaudited)

	Nine months ended
	March 28, 2021			March 29, 2020

Operating activities:
Net income	$	105,342		$	49,224
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		31,792			23,268
Amortization of deferred financing costs		844			486
Deferred income taxes		(2,131	)		(1,597	)
Bad debt expense		959			1,201
Stock-based compensation		8,229			6,441
Other non-cash items		(79	)		(23	)
Changes in operating items:
Trade receivables		(23,520	)		(15,044	)
Inventories		(7,627	)		19,353
Prepaid and other		(1,301	)		3,148
Accounts payable and accrued expenses		96,947			31,442
Other assets and liabilities		8,756			(557	)
Net cash provided by operating activities		218,211			117,342

Investing activities:
Acquisitions, net of cash acquired		(250,943	)		(20,500	)
Capital expenditures, net of non-cash expenditures		(26,821	)		(22,282	)
Purchase of equity investments		(1,251	)		(1,176	)
Net cash used in investing activities		(279,015	)		(43,958	)

Financing activities:
Acquisition of treasury stock		(14,825	)		(10,667	)
Proceeds from exercise of employee stock options		1,596			285
Proceeds from bank borrowings		265,000			20,000
Repayment of notes payable and bank borrowings		(172,497	)		(23,750	)
Debt issuance cost		(2,193	)		(60	)
Net cash provided by (used in) financing activities		77,081			(14,192	)

Net change in cash and cash equivalents		16,277			59,192
Cash and cash equivalents:
Beginning of period		240,506			172,923
End of period	$	256,783		$	232,115

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information – Category Information (dollars in thousands) (unaudited)

	Three Months Ended
	March 28, 2021			March 29, 2020			Personalization Mall Litigation & Transaction Costs		As Adjusted (non-GAAP) March 29, 2020			% Change
Net revenues:
Consumer Floral & Gifts	$	260,393		$	152,620		$	–	$	152,620		70.6	%
BloomNet		38,833			30,414					30,414		27.7	%
Gourmet Foods & Gift Baskets		175,245			95,906					95,906		82.7	%
Corporate		54			112					112		-51.8	%
Intercompany eliminations		(291	)		(276	)				(276	)	-5.4	%
Total net revenues	$	474,234		$	278,776		$	–	$	278,776		70.1	%

Gross profit:
Consumer Floral & Gifts	$	98,397		$	59,943				$	59,943		64.2	%
		37.8	%		39.3	%				39.3	%

BloomNet		17,194			14,401					14,401		19.4	%
		44.3	%		47.3	%				47.3	%

Gourmet Foods & Gift Baskets		69,091			32,956					32,956		109.6	%
		39.4	%		34.4	%				34.4	%

Corporate		17			152					152		-88.8	%
		31.5	%		135.7	%				135.7	%

Total gross profit	$	184,699		$	107,452		$	–	$	107,452		71.9	%
		38.9	%		38.5	%		–		38.5	%

EBITDA (non-GAAP):
Segment Contribution Margin (non-GAAP) (a):
Consumer Floral & Gifts	$	22,537		$	15,439		$	–	$	15,439		46.0	%
BloomNet		12,042			10,025					10,025		20.1	%
Gourmet Foods & Gift Baskets		12,132			(6,275	)				(6,275	)	293.3	%
Segment Contribution Margin Subtotal		46,711			19,189			–		19,189		143.4	%
Corporate (b)		(35,128	)		(22,274	)		911		(21,363	)	-64.4	%
EBITDA (non-GAAP)		11,583			(3,085	)		911		(2,174	)	632.8	%
Add: Stock-based compensation		2,871			2,396					2,396		19.8	%
Add: Compensation charge related to NQ Plan Investment Appreciation/(Depreciation)		916			(2,611	)				(2,611	)	135.1	%
Adjusted EBITDA (non-GAAP)	$	15,370		$	(3,300	)	$	911	$	(2,389	)	743.4	%

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information – Category Information (dollars in thousands) (unaudited)

	Nine Months Ended
	March 28, 2021			Personalization Mall Litigation & Transaction Costs		Harry & David Store Closure Costs			As Adjusted (non-GAAP) March 28, 2021			March 29, 2020			Personalization Mall Litigation & Transaction Costs		As Adjusted (non-GAAP) March 29, 2020			% Change
Net revenues:
Consumer Floral & Gifts	$	727,296		$	–	$	–		$	727,296		$	359,104		$	–	$	359,104		102.5	%
BloomNet		105,622								105,622			81,576					81,576		29.5	%
Gourmet Foods & Gift Baskets		803,439								803,439			631,705					631,705		27.2	%
Corporate		295								295			472					472		-37.5	%
Intercompany eliminations		(1,390	)							(1,390	)		(1,176	)				(1,176	)	-18.2	%
Total net revenues	$	1,635,262		$	–	$	–		$	1,635,262		$	1,071,681		$	–	$	1,071,681		52.6	%

Gross profit:
Consumer Floral & Gifts	$	298,457		$	–	$	–		$	298,457		$	140,537		$	–	$	140,537		112.4	%
		41.0	%							41.0	%		39.1	%				39.1	%

BloomNet		48,852								48,852			40,520					40,520		20.6	%
		46.3	%							46.3	%		49.7	%				49.7	%

Gourmet Foods & Gift Baskets		350,988								350,988			271,360					271,360		29.3	%
		43.7	%							43.7	%		43.0	%				43.0	%

Corporate		128								128			353					353		-63.7	%
		43.4	%							43.4	%		74.8	%				74.8	%
Total gross profit	$	698,425		$	–	$	–		$	698,425		$	452,770		$	–	$	452,770		54.3	%
		42.7	%		–		–			42.7	%		42.2	%		–		42.2	%

EBITDA (non-GAAP):
Segment Contribution Margin (non-GAAP) (a):
Consumer Floral & Gifts	$	87,430		$	–	$	–		$	87,430		$	34,853		$	–	$	34,853		150.9	%
BloomNet		34,604								34,604			27,516					27,516		25.8	%
Gourmet Foods & Gift Baskets		145,172					(483	)		144,689			100,512					100,512		44.0	%
Segment Contribution Margin Subtotal		267,206			–		(483	)		266,723			162,881			–		162,881		63.8	%
Corporate (b)		(101,582	)		5,403					(96,179	)		(71,583	)		911		(70,672	)	-36.1	%
EBITDA (non-GAAP)		165,624			5,403		(483	)		170,544			91,298			911		92,209		85.0	%
Add: Stock-based compensation		8,229								8,229			6,441					6,441		27.8	%
Add: Compensation charge related to NQ Plan Investment Appreciation/(Depreciation)		4,123								4,123			(1,653	)				(1,653	)	349.4	%
Adjusted EBITDA (non-GAAP)	$	177,976		$	5,403	$	(483	)	$	182,896		$	96,086		$	911	$	96,997		88.6	%

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information (in thousands) (unaudited)

Reconciliation of net income (loss) to adjusted net income (loss) (non-GAAP):	Three Months Ended					Nine Months Ended
	March 28, 2021		March 29, 2020			March 28, 2021			March 29, 2020

Net income (loss)	$	1,427	$	(9,657	)	$	105,342		$	49,224
Adjustments to reconcile net income (loss) to adjusted net income (loss) (non-GAAP)
Add: PersonalizationMall litigation and transaction costs		–		911			5,403			911
Deduct: Harry & David store closure cost adjustment		–		–			(483	)		–
Deduct: Income tax benefit on adjustments		79		(217	)		(1,038	)		(217	)
Adjusted net income (loss) (non-GAAP)	$	1,506	$	(8,963	)	$	109,224		$	49,918

Basic and diluted net income (loss) per common share
Basic	$	0.02	$	(0.15	)	$	1.63		$	0.76
Diluted	$	0.02	$	(0.15	)	$	1.58		$	0.74


Basic and diluted adjusted net income (loss) per common share (non-GAAP)
Basic	$	0.02	$	(0.14	)	$	1.69		$	0.77
Diluted	$	0.02	$	(0.14	)	$	1.64		$	0.75

Weighted average shares used in the calculation of net income (loss) and adjusted net income (loss) per common share
Basic		64,885		64,348			64,644			64,517
Diluted		66,474		64,348			66,564			66,378

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information (in thousands) (unaudited)

Reconciliation of net income (loss) to adjusted EBITDA (non-GAAP):	Three Months Ended					Nine Months Ended
	March 28, 2021		March 29, 2020			March 28, 2021			March 29, 2020

Net income (loss)	$	1,427	$	(9,657	)	$	105,342		$	49,224
Add: Interest expense, net		608		2,752			319			3,441
Add: Depreciation and amortization		11,892		7,803			31,792			23,268
Add: Income tax expense		–		–			28,171			15,365
Deduct: Income tax benefit		2,344		3,983			–			–
EBITDA		11,583		(3,085	)		165,624			91,298
Add: Stock-based compensation		2,871		2,396			8,229			6,441
Add: Compensation charge related to NQ plan investment appreciation/(depreciation)		916		(2,611	)		4,123			(1,653	)
Add: Personalization Mall litigation and transaction costs		–		911			5,403			911
Deduct: Harry & David store closure cost adjustment		–		–			(483	)		–
Adjusted EBITDA	$	15,370	$	(2,389	)	$	182,896		$	96,997

(a) Segment performance is measured based on segment contribution margin or segment Adjusted EBITDA, reflecting only the direct controllable revenue and operating expenses of the segments, both of which are non-GAAP measurements. As such, management’s measure of profitability for these segments does not include the effect of corporate overhead, described above, depreciation and amortization, other income (net), and other items that we do not consider indicative of our core operating performance.

(b) Corporate expenses consist of the Company’s enterprise shared service cost centers, and include, among other items, Information Technology, Human Resources, Accounting and Finance, Legal, Executive and Customer Service Center functions, as well as Stock-Based Compensation. To leverage the Company’s infrastructure, these functions are operated under a centralized management platform, providing support services throughout the organization. The costs of these functions, other than those of the Customer Service Center, which are allocated directly to the above categories based upon usage, are included within corporate expenses as they are not directly allocable to a specific segment.

FLWS-CP

Investors:

Joseph D. Pititto

(516) 237-6131

E-mail: invest@1800flowers.com

Media:

Kathleen Waugh

(516) 237-6028

kwaugh@1800flowers.com

Source: 1-800-FLOWERS.COM, Inc.

1-800-Flowers.com (FLWS) – Reports Record Revenue and Earnings Results for its Fiscal 2021 Third Quarter

Posted on April 29, 2021 by Admin

1-800-FLOWERS.COM, Inc. Reports Record Revenue and Earnings Results for its Fiscal 2021 Third Quarter

Total net revenues increased 70.1 percent to $474.2 million, compared with total revenues of $278.8 million in the prior year period, driven by ecommerce growth of 83.2 percent.

Net Income for the quarter increased $11.1 million to $1.4 million, or $0.02 per share, compared with a net loss of $9.7 million, or a loss of $0.15 per diluted share in the prior year period. On an adjusted basis, net income for the quarter was $1.5 million, or $0.02 per share, compared with an adjusted net loss of $9.0 million, or a loss of $0.14 per share, in the prior year period.

Adjusted EBITDA¹ for the quarter increased $17.8 million to $15.4 million, compared with a loss of $2.4 million in the prior year period.

Company guides to 10-to-15 percent revenue growth for its fiscal fourth quarter and approximately 40 percent for its full 2021 fiscal year. Company also states that it anticipates double-digit revenue growth will continue in its next fiscal year.

(¹ Refer to “Definitions of Non-GAAP Financial Measures” and the tables attached at the end of this press release for reconciliation of Non-GAAP results to applicable GAAP results.)

McCann concluded, “Based on our expectations for the fourth quarter, combined with what we see going forward, we anticipate driving double-digit growth in our next fiscal year.”

Third Quarter 2021 Financial Results

Segment Results:

The Company provides selected financial results for its Gourmet Foods and Gift Baskets, Consumer Floral and Gifts, and BloomNet^® segments in the tables attached to this release and as follows:

Gourmet Foods and Gift Baskets: Revenues for the quarter increased 82.7 percent, or
$79.3 million, to
$175.2 million, compared with
$95.9 million in the prior year period, reflecting strong ecommerce growth. Gross profit margin increased 500 basis points to 39.4 percent, compared with 34.4 percent in the prior year period reflecting reduced promotional marketing partially offset by increased labor and shipping costs. Segment contribution margin improved 293.4 percent, or
$18.4 million, to
$12.1 million, compared with a loss of
$6.3 million in the prior year period.

Consumer Floral and Gifts: Revenues in this segment increased 70.6 percent, or
$107.8 million, to
$260.4 million, compared with
$152.6 million in the prior year period. Excluding the contribution from PMall, revenues in this segment increased 44.3 percent compared with the prior year period. Gross profit margin decreased 150 basis points to 37.8 percent, compared with 39.3 percent in the prior year period, primarily reflecting higher shipping costs and weather-related costs incurred during the Valentine holiday period. Segment contribution margin increased 46.0 percent, or
$7.1 million, to
$22.5 million, compared with
$15.4 million in the prior year period. Excluding the contribution from PMall, segment contribution margin increased 15.3 percent, or
$2.4 million, compared with the prior year period.

BloomNet: Revenues for the quarter increased 27.7 percent to
$38.8 million, or
$8.4 million, compared with
$30.4 million in the prior year period. Gross profit margin was 44.3 percent, a decrease of 300 basis points compared with 47.3 percent in the prior year period, primarily reflecting product mix. Segment contribution margin increased 20.1 percent to
$12.0 million, or
$2.0 million, compared with
$10.0 million in the prior year period.

Company Guidance

The Company’s guidance for its fiscal fourth quarter ending June 27, 2021 is based on several factors including:
- continued solid ecommerce demand in the 1-800-Flowers.com floral business that has carried into April combined with anticipated contributions from PMall, partially offset by the shift of some Easter revenues into the Company’s third quarter, and;
- the challenging comparison with the prior year period which included record top and bottom-line growth resulting from the surge in ecommerce demand and significantly lower year-over-year digital marketing pricing associated with the initial impact of the COVID-19 pandemic.
As a result, the Company expects to achieve total consolidated revenue growth for its fiscal fourth quarter in a range of 10-to-15 percent, compared with the prior year period.
Based on this revenue growth, somewhat offset by higher digital marketing costs, the Company anticipates achieving Adjusted EBITDA for its fiscal fourth quarter in a range of
$25.0 million -to-
$30 million, compared with
$32.5 million in the prior year period, and EPS in a range of
$0.18-to-
$0.20, compared with EPS of
$0.23 in the prior year period.
Combined with the results of its first three fiscal quarters, the Company anticipates achieving the following results for its full 2021 fiscal year:
- Revenue growth of approximately 40 percent to total revenue for the year of more than
  $2.0 billion compared with
  $1.49 billion in the prior year.
- Adjusted EBITDA in a range of
  $208.0 million -to-
  $213.0 million compared with
  $129.5 million in the prior year,
- EPS in a range of
  $1.75 -to-
  $1.80 compared with EPS of
  $0.98 in the prior year, and
- Free Cash Flow of more than
  $100 million.

Definitions of non-GAAP Financial Measures:

EBITDA and Adjusted EBITDA

Segment Contribution Margin and Adjusted Segment Contribution Margin

Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:

About 1-800-FLOWERS.COM, Inc.

Special Note Regarding Forward Looking Statements:

Conference Call:

Note: The attached tables are an integral part of this press release without which the information presented in this press release should be considered incomplete.

1-800-FLOWERS.COM, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands)

	March 28, 2021		June 28, 2020
		(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	256,783	$	240,506
Trade receivables, net		39,121		15,178
Inventories		122,385		97,760
Prepaid and other		30,243		25,186
Total current assets		448,532		378,630

Property, plant and equipment, net		197,490		169,075
Operating lease right-of-use assets		86,616		66,760
Goodwill		208,048		74,711
Other intangibles, net		139,962		66,273
Other assets		26,672		18,986
Total assets	$	1,107,320	$	774,435

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	60,217	$	25,306
Accrued expenses		215,177		141,741
Current maturities of long-term debt		17,500		5,000
Current portion of long-term operating lease liabilities		11,021		8,285
Total current liabilities		303,915		180,332

Long-term debt		166,213		87,559
Long-term operating lease liabilities		79,803		61,964
Deferred tax liabilities		26,501		28,632
Other liabilities		30,773		16,174
Total liabilities		607,205		374,661
Total stockholders’ equity		500,115		399,774
Total liabilities and stockholders’ equity	$	1,107,320	$	$774,435

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information Consolidated Statements of Operations (in thousands, except for per share data) (unaudited)

	Three Months Ended						Nine Months Ended
	March 28, 2021			March 29, 2020			March 28, 2021			March 29, 2020
Net revenues:
E-Commerce	$	424,768		$	231,851		$	1,441,441		$	847,985
Other		49,466			46,925			193,821			223,696
Total net revenues		474,234			278,776			1,635,262			1,071,681
Cost of revenues		289,535			171,324			936,837			618,911
Gross profit		184,699			107,452			698,425			452,770
Operating expenses:
Marketing and sales		127,923			78,606			402,904			262,849
Technology and development		14,281			11,900			39,937			34,436
General and administrative		30,912			20,031			89,960			64,187
Depreciation and amortization		11,892			7,803			31,792			23,268
Total operating expenses		185,008			118,340			564,593			384,740
Operating income (loss)		(309	)		(10,888	)		133,832			68,030
Interest expense, net		1,553			147			4,520			1,727
Other (income) expense, net		(945	)		2,605			(4,201	)		1,714
Income (loss) before income taxes		(917	)		(13,640	)		133,513			64,589
Income tax expense (benefit)		(2,344	)		(3,983	)		28,171			15,365
Net income (loss)	$	1,427		$	(9,657	)	$	105,342		$	49,224

Basic net income (loss) per common share	$	0.02		$	(0.15	)	$	1.63		$	0.76

Diluted net income (loss) per common share	$	0.02		$	(0.15	)	$	1.58		$	0.74

Weighted average shares used in the calculation of net income (loss) per common share:
Basic		64,885			64,348			64,644			64,517
Diluted		66,474			64,348			66,564			66,378

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information Consolidated Statements of Cash Flows (in thousands) (unaudited)

	Nine months ended
	March 28, 2021			March 29, 2020

Operating activities:
Net income	$	105,342		$	49,224
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		31,792			23,268
Amortization of deferred financing costs		844			486
Deferred income taxes		(2,131	)		(1,597	)
Bad debt expense		959			1,201
Stock-based compensation		8,229			6,441
Other non-cash items		(79	)		(23	)
Changes in operating items:
Trade receivables		(23,520	)		(15,044	)
Inventories		(7,627	)		19,353
Prepaid and other		(1,301	)		3,148
Accounts payable and accrued expenses		96,947			31,442
Other assets and liabilities		8,756			(557	)
Net cash provided by operating activities		218,211			117,342

Investing activities:
Acquisitions, net of cash acquired		(250,943	)		(20,500	)
Capital expenditures, net of non-cash expenditures		(26,821	)		(22,282	)
Purchase of equity investments		(1,251	)		(1,176	)
Net cash used in investing activities		(279,015	)		(43,958	)

Financing activities:
Acquisition of treasury stock		(14,825	)		(10,667	)
Proceeds from exercise of employee stock options		1,596			285
Proceeds from bank borrowings		265,000			20,000
Repayment of notes payable and bank borrowings		(172,497	)		(23,750	)
Debt issuance cost		(2,193	)		(60	)
Net cash provided by (used in) financing activities		77,081			(14,192	)

Net change in cash and cash equivalents		16,277			59,192
Cash and cash equivalents:
Beginning of period		240,506			172,923
End of period	$	256,783		$	232,115

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information – Category Information (dollars in thousands) (unaudited)

	Three Months Ended
	March 28, 2021			March 29, 2020			Personalization Mall Litigation & Transaction Costs		As Adjusted (non-GAAP) March 29, 2020			% Change
Net revenues:
Consumer Floral & Gifts	$	260,393		$	152,620		$	–	$	152,620		70.6	%
BloomNet		38,833			30,414					30,414		27.7	%
Gourmet Foods & Gift Baskets		175,245			95,906					95,906		82.7	%
Corporate		54			112					112		-51.8	%
Intercompany eliminations		(291	)		(276	)				(276	)	-5.4	%
Total net revenues	$	474,234		$	278,776		$	–	$	278,776		70.1	%

Gross profit:
Consumer Floral & Gifts	$	98,397		$	59,943				$	59,943		64.2	%
		37.8	%		39.3	%				39.3	%

BloomNet		17,194			14,401					14,401		19.4	%
		44.3	%		47.3	%				47.3	%

Gourmet Foods & Gift Baskets		69,091			32,956					32,956		109.6	%
		39.4	%		34.4	%				34.4	%

Corporate		17			152					152		-88.8	%
		31.5	%		135.7	%				135.7	%

Total gross profit	$	184,699		$	107,452		$	–	$	107,452		71.9	%
		38.9	%		38.5	%		–		38.5	%

EBITDA (non-GAAP):
Segment Contribution Margin (non-GAAP) (a):
Consumer Floral & Gifts	$	22,537		$	15,439		$	–	$	15,439		46.0	%
BloomNet		12,042			10,025					10,025		20.1	%
Gourmet Foods & Gift Baskets		12,132			(6,275	)				(6,275	)	293.3	%
Segment Contribution Margin Subtotal		46,711			19,189			–		19,189		143.4	%
Corporate (b)		(35,128	)		(22,274	)		911		(21,363	)	-64.4	%
EBITDA (non-GAAP)		11,583			(3,085	)		911		(2,174	)	632.8	%
Add: Stock-based compensation		2,871			2,396					2,396		19.8	%
Add: Compensation charge related to NQ Plan Investment Appreciation/(Depreciation)		916			(2,611	)				(2,611	)	135.1	%
Adjusted EBITDA (non-GAAP)	$	15,370		$	(3,300	)	$	911	$	(2,389	)	743.4	%

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information – Category Information (dollars in thousands) (unaudited)

	Nine Months Ended
	March 28, 2021			Personalization Mall Litigation & Transaction Costs		Harry & David Store Closure Costs			As Adjusted (non-GAAP) March 28, 2021			March 29, 2020			Personalization Mall Litigation & Transaction Costs		As Adjusted (non-GAAP) March 29, 2020			% Change
Net revenues:
Consumer Floral & Gifts	$	727,296		$	–	$	–		$	727,296		$	359,104		$	–	$	359,104		102.5	%
BloomNet		105,622								105,622			81,576					81,576		29.5	%
Gourmet Foods & Gift Baskets		803,439								803,439			631,705					631,705		27.2	%
Corporate		295								295			472					472		-37.5	%
Intercompany eliminations		(1,390	)							(1,390	)		(1,176	)				(1,176	)	-18.2	%
Total net revenues	$	1,635,262		$	–	$	–		$	1,635,262		$	1,071,681		$	–	$	1,071,681		52.6	%

Gross profit:
Consumer Floral & Gifts	$	298,457		$	–	$	–		$	298,457		$	140,537		$	–	$	140,537		112.4	%
		41.0	%							41.0	%		39.1	%				39.1	%

BloomNet		48,852								48,852			40,520					40,520		20.6	%
		46.3	%							46.3	%		49.7	%				49.7	%

Gourmet Foods & Gift Baskets		350,988								350,988			271,360					271,360		29.3	%
		43.7	%							43.7	%		43.0	%				43.0	%

Corporate		128								128			353					353		-63.7	%
		43.4	%							43.4	%		74.8	%				74.8	%
Total gross profit	$	698,425		$	–	$	–		$	698,425		$	452,770		$	–	$	452,770		54.3	%
		42.7	%		–		–			42.7	%		42.2	%		–		42.2	%

EBITDA (non-GAAP):
Segment Contribution Margin (non-GAAP) (a):
Consumer Floral & Gifts	$	87,430		$	–	$	–		$	87,430		$	34,853		$	–	$	34,853		150.9	%
BloomNet		34,604								34,604			27,516					27,516		25.8	%
Gourmet Foods & Gift Baskets		145,172					(483	)		144,689			100,512					100,512		44.0	%
Segment Contribution Margin Subtotal		267,206			–		(483	)		266,723			162,881			–		162,881		63.8	%
Corporate (b)		(101,582	)		5,403					(96,179	)		(71,583	)		911		(70,672	)	-36.1	%
EBITDA (non-GAAP)		165,624			5,403		(483	)		170,544			91,298			911		92,209		85.0	%
Add: Stock-based compensation		8,229								8,229			6,441					6,441		27.8	%
Add: Compensation charge related to NQ Plan Investment Appreciation/(Depreciation)		4,123								4,123			(1,653	)				(1,653	)	349.4	%
Adjusted EBITDA (non-GAAP)	$	177,976		$	5,403	$	(483	)	$	182,896		$	96,086		$	911	$	96,997		88.6	%

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information (in thousands) (unaudited)

Reconciliation of net income (loss) to adjusted net income (loss) (non-GAAP):	Three Months Ended					Nine Months Ended
	March 28, 2021		March 29, 2020			March 28, 2021			March 29, 2020

Net income (loss)	$	1,427	$	(9,657	)	$	105,342		$	49,224
Adjustments to reconcile net income (loss) to adjusted net income (loss) (non-GAAP)
Add: PersonalizationMall litigation and transaction costs		–		911			5,403			911
Deduct: Harry & David store closure cost adjustment		–		–			(483	)		–
Deduct: Income tax benefit on adjustments		79		(217	)		(1,038	)		(217	)
Adjusted net income (loss) (non-GAAP)	$	1,506	$	(8,963	)	$	109,224		$	49,918

Basic and diluted net income (loss) per common share
Basic	$	0.02	$	(0.15	)	$	1.63		$	0.76
Diluted	$	0.02	$	(0.15	)	$	1.58		$	0.74


Basic and diluted adjusted net income (loss) per common share (non-GAAP)
Basic	$	0.02	$	(0.14	)	$	1.69		$	0.77
Diluted	$	0.02	$	(0.14	)	$	1.64		$	0.75

Weighted average shares used in the calculation of net income (loss) and adjusted net income (loss) per common share
Basic		64,885		64,348			64,644			64,517
Diluted		66,474		64,348			66,564			66,378

1-800-FLOWERS.COM, Inc. and Subsidiaries Selected Financial Information (in thousands) (unaudited)

Reconciliation of net income (loss) to adjusted EBITDA (non-GAAP):	Three Months Ended					Nine Months Ended
	March 28, 2021		March 29, 2020			March 28, 2021			March 29, 2020

Net income (loss)	$	1,427	$	(9,657	)	$	105,342		$	49,224
Add: Interest expense, net		608		2,752			319			3,441
Add: Depreciation and amortization		11,892		7,803			31,792			23,268
Add: Income tax expense		–		–			28,171			15,365
Deduct: Income tax benefit		2,344		3,983			–			–
EBITDA		11,583		(3,085	)		165,624			91,298
Add: Stock-based compensation		2,871		2,396			8,229			6,441
Add: Compensation charge related to NQ plan investment appreciation/(depreciation)		916		(2,611	)		4,123			(1,653	)
Add: Personalization Mall litigation and transaction costs		–		911			5,403			911
Deduct: Harry & David store closure cost adjustment		–		–			(483	)		–
Adjusted EBITDA	$	15,370	$	(2,389	)	$	182,896		$	96,997

FLWS-CP

Investors:

Joseph D. Pititto

(516) 237-6131

E-mail: invest@1800flowers.com

Media:

Kathleen Waugh

(516) 237-6028

kwaugh@1800flowers.com

Source: 1-800-FLOWERS.COM, Inc.

ACCO Brands Corporation (ACCO) – Post Call Commentary – Raising PT

Posted on April 29, 2021 by Admin

Thursday, April 29, 2021

ACCO Brands Corporation (ACCO)
Post Call Commentary

ACCO Brands Corporation designs, manufactures, sources, markets, and sells office products, academic supplies, and calendar products primarily in the United States, Canada, Northern Europe, Brazil, Australia, and Mexico. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Light at the End of the Tunnel? Although COVID’s grip remains, it is loosening, suggesting 2H21 could be stronger than 1H21. While MEA already is exhibiting strong performance, the key North America business is seeing light at the end of the tunnel. In the key back-to-school market, some 60% of schools are back to in-person learning with another 30% under a hybrid model. And, as students go back to in-person learning, that should open back up the commercial office market.

PowerA=Powerhouse! PowerA 1Q21 revenue was up 105.6% y-o-y to $62.7 million, driven by strong market growth, product availability, and geographic expansion. Management is projecting another 17%-41% jump in segment revenue in 2Q21 and increased its estimate for full year revenue growth to 25% from a prior 15%. One potential hiccup could be a lack of product availability in 2H21, suggesting revenue …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Driven By Stem (STMH) – Expanding into Michigan the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

Posted on April 28, 2021 by Admin

Driven By Stem is Expanding into Michigan, the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

New Dispensary Location Opening in Kalamazoo

Launch of Budee™ Home Delivery Statewide to Bring Great Brands and Products to Michigan Market

BOCA RATON, Fla., April 28, 2021 /PRNewswire/ — Stem Holdings, Inc. d/b/a Driven by Stem (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today announced that it has teamed up with Organic Guyz, a Michigan Cannabis company, for the opening of its newest dispensary in the heart of Kalamazoo, Michigan this June. In addition, Stem will introduce its Budee e-commerce and delivery platform for the first time in the Midwest, in order to service the entire state of Michigan with future plans for expansion in adjacent markets.

Stem is a Farm-to-Home™ multi-state operator with dispensaries in three other states. This will be the second Stem branded dispensary in the country. Stem’s acquisition of Driven Deliveries in December 2020 added Budee’s omnichannel technology to its existing retail operations, enabling Stem to deliver to 92% of California residents with plans for expansion to other states including Michigan. Stem chose to expand to Michigan because of increased demand for home delivery in that state due to an expanding cannabis market, which has doubled in the last 12 months.¹

“We have targeted Michigan as a growth market for Stem, recognizing the 179% increase in sales there last year.²It remains an underserved opportunity and we are excited to work with Organic Guyz to offer the best line-up of products available in the state,” stated Adam Berk, CEO of Stem. “Cannabis sales of $1.2 billion are projected in Michigan next year including both recreational and medical cannabis,³ and we are uniquely poised to service that market based on our operational experience,” he continued. “Collectively, we are building a new dispensary as the first step in our plan there. Our ability to deliver the customer experience demanded by cannabis connoisseurs will allow us to quickly penetrate the market in Kalamazoo which has just 22 dispensaries and deliver locally and statewide to meet this growing demand with our Budee platform,” he concluded.

Stem cultivates cannabis and hemp within its facilities on the West Coast, and its family of brands includes flower, pre-roll, edibles, concentrates and tinctures with disruptive new products launching this year as Stem expands the footprint of its brands.

“We are excited to work with the Stem team, and we share their passion and commitment to quality and service,” stated Concetta Mazzetti, Organic Guyz’s head of operations. “Stem’s proven track record of success in other markets, and their dynamic approach to cannabis, were key factors in our decision to move forward together,” she concluded.

The new Stem dispensary will be over 2500 square feet, and will be located on Portage Street, conveniently located near major roadways. There is sufficient parking for the delivery drivers since this is going to be one of our major delivery hubs for the state. An integrated marketing effort is planned for the grand opening which is anticipated to occur in Summer 2021.

About Stem Holdings, Inc.

Stem is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

Forward-Looking Statements
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to: (i) the implementation of the Company’s business plan; (ii) the expected expansion of the Michigan cannabis market; (iii) the expected opening of a dispensary in Michigan and the expected delivery activities in such state; and (iv) the potential expansion of the deliver business to adjacent states.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, insurance, intellectual property and reliable supply chains; and risks related to the Company and its business generally. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact:

Media Contact:
Mauria Betts
STEM HOLDINGS, INC.
Mauria@drivenbystem.com
971.319.0303

Investor Contact:
Valter Pinto / Elizabeth Barker
STEM@kcsa.com
212.896.1254 / 212-896-1203

¹ Source: https://www.metrotimes.com/detroit/michigans-legal-marijuana-industry-hits-record-sales-buoyed-by-new-products/Content?oid=26891892
² Source: https://www.newcannabisventures.com/michigan-cannabis-sales-soar-179-to-record-146-million-in-march/
³ Source: https://www.mlive.com/public-interest/2021/04/michigan-marijuana-sales-break-1-billion-pace-insiders-expect-record-breaking-april.html

SOURCE Stem Holdings, Inc.

Release – Namaste Technologies (NXTTF)(N:CA) – Reports First Quarter 2021 Financial Results

Posted on April 28, 2021 by Admin

Namaste Technologies Reports First Quarter 2021 Financial Results

Increased Revenue While Substantially Decreasing Operating Expenses
Cannabis Revenue Increased by 113% in Q1 2021 Compared to Q1 2020

TORONTO, April 28, 2021 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, today reported its financial results for the first quarter ended February 28, 2021 (“Q1 2021”) with references made to financial results for the first quarter ended February 29, 2020 (“Q1 2020”). All financial figures are in Canadian dollars unless otherwise indicated.

Q1 2021 Highlights:

Net cash used in operating activities decreased by $7.5 million to $2.5 million in Q1 2021 vs. Q1 2020, reflecting improved management of our short term assets.
Gross revenue for Q1 2021 was $6.15 million ($5.46 million Q1 2020), representing an increase of 13% while operating expenses decreased by 10.9% over the same period.
Net revenue for Q1 2021 was $5.5 million ($5.3 million in Q1 2020).
Cannabis revenue increased by 113% vs the same quarter last year, and maintained its strong position at 47% of total net revenues, the second highest percentage for cannabis revenue out of total net revenue achieved in the last four quarters.
Inventories decreased by 33% to $5.9 million in Q1 2021 ($8.8 million in Q1 2020) with increased revenues, demonstrating improved inventory management practices implemented as a key initiative to reduce slow moving inventory in 2020.
Accounts receivables decreased 22% in Q1 2021 vs. Q1 2020 despite an increase in sales, illustrating our ability to convert short term assets into cash much more efficiently.
The Company’s working capital position remains strong at $31 million as at February 28, 2021 bolstered by the closing of a bought deal financing of $23 million (approximately $21 million net of all fees, costs and expenses).

Re cent Corporate Highlights:

Announced the addition of leading licensed producers to the CannMart.com platform including: Auxly Cannabis Group, Hexo Corp and The Green Organic Dutchman Holdings (TGOD).
Announced that CannMart Inc., the Company’s wholly-owned subsidiary, has expanded its product offering to both our provincial customers who retain exclusive rights to sell to recreational consumers and to our own medical customers across Canada via CannMart.com, by entering into a number of supply agreements including with CannTx Life Sciences Inc., Rilaxe Canna Inc. and Safari Flower Co.
Launched CannMart.com into the USA offering American resident hemp derived CBD and smoking accessories.
Received a standard processing licence from Health Canada for CannMart Labs Inc. (“Labs”), the Company’s wholly owned subsidiary with its state-of-the-art BHO extraction facility.
Announced the Company’s evolution into a pre-eminent wellness company, connecting consumers to their wellness needs of tomorrow, with planned expansion into the nutraceuticals market in fiscal year 2021.
Completed the acquisition of 49% interest in Labs to take the Company to 100% ownership.

“We continue to transform CannMart.com which saw sales increase in Q1 2021 compared to the prior year as we see an increased number of vendors looking to sell their cannabis and accessories with us,” said Meni Morim, CEO of Namaste. “While our marketplace platform is demonstrating strong growth, the impact of Covid-19 lockdowns across Canada continues to be felt by the cannabis industry. However, we believe the marketplace and the Company remains well-positioned to experience a robust increase in our top-line as the market improves. Going forward, we are excited about the strategic opportunities for growth as we launch “Roilty”, our in-house branded cannabis consumer products, in Canada, and launch the first nutraceutical products in fiscal 2021 in North America and anticipate a launch in the UK and Europe thereafter.”

Mr. Morim further stated: “Over the past four quarters, one of our goals was to “do more with less” and substantially reduce our burn. I am thrilled to say that we have succeeded in bringing down our operating expenses substantially in the past quarter. One of our goals over the next few quarters is to make the necessary adjustments to our product mix so we can continue the work towards improving our gross margins. Labs’s upcoming commercial production and our soon to be launched nutraceuticals division are two such strategies we will be deploying. In addition, we have introduced operating procedures setting goals of 40-day inventory turns which we believe will further contribute to improved margins. We continue to focus on our goal to be cash flow positive. With our recent financing, the Company is in a strong financial position as Namaste continues its evolution to be the world’s foremost personalized wellness marketplace.”

For further details, the complete Financial Statements for the first quarter ended February 28, 2021 and the related Management’s Discussion & Analysis can be accessed on the Company’s SEDAR profile at www.sedar.com.

Labs Update:

Labs has completed phase one of its work following receipt of Health Canada’s standard processing licence, of installation and balancing of HVAC and GMP equipment. Labs is entering Phase two of commissioning activity, with the Company now expecting Labs products to go to market by the third fiscal quarter 2021.

Namaste Virtual Town Hall:

The Company would like to invite shareholders and guests to participate in attending a virtual town hall to hear a presentation on the progress made by the Company.

Thursday, May 6, 2021
12:00 p.m. EST
Presentation by Meni Morim followed by Q&A
All Shareholders are invited to submit their questions by May 3rd to: ir@namastetechnologies.com. Our CEO, Meni Morim, will answer submitted investors questions during the town hall event.
Shareholders can access the event using the following link: http://bofc.me/may6townhall

NON IFRS FINANCIAL MEASURES

Management evaluates the Company’s performance using a variety of measures, including “Net loss before income tax, depreciation and amortization” and “Adjusted EBITDA”. The non-IFRS measures discussed below should not be considered as an alternative to or to be more meaningful than revenue or net loss. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS.

The Company believes these non-IFRS financial measures provide useful information to both management and investors in measuring the financial performance and financial condition of the Company.

Management uses these and other non-IFRS financial measures to exclude the impact of certain expenses and income that must be recognized under IFRS when analyzing consolidated underlying operating performance, as the excluded items are not necessarily reflective of the Company’s underlying operating performance and make comparisons of underlying financial performance between periods difficult. From time to time, the Company may exclude additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The exclusion of certain items does not imply that they are non-recurring.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f090bdde-878d-4d4b-9403-9206df82fc9b

(i) Current and deferred income taxes, depreciation and amortization, and share-based compensation were excluded from the Adjusted EBITDA calculation as they do not represent cash expenditures.

(ii) Other income consisting of gain on disposal of subsidiary, interest income, realized gain on disposition of AFS investments, unrealized gain on derivatives and other miscellaneous non-recurring income were excluded from Adjusted EBITDA calculation.

(iii) Non-recurring costs related to restructuring and legacy issues were excluded from Adjusted EBITDA calculation.

(iv) Impairment loss relating to goodwill, customer list, domains and brand names were excluded from Adjusted EBITDA calculation.

(v) Impairment loss relating to receivable is a provision for expected credit loss to an associate and was excluded from Adjusted EBITDA calculation.

(vi) Share of associates loss, net of tax, is excluded due to lack of control.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: ir@namastetechnologies.com

Source: Namaste Technologies Inc

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to the Company’s expectations relating to increasing top line revenue, its intended adjustment to its product mix, the Company’s expected launch of new products and the creation of its new nutraceutical division, the anticipated commercial production at Labs, the Company’s continued focus on improving margins toward its goal to be cash flow positive , and its continued intent on building the world’s foremost personalized wellness marketplace are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, Namaste’s ability to maintain momentum of expanding its business, its ability to broaden its total addressable market and to evolve into a recognized wellness company, the Company’s expectation that the nutraceutical and wellness market and potentially the market for psychedelics will develop as currently anticipated, the nutraceutical market will continue to be a multi-billion dollar high-margin market, the introduction of new products and brands will generate additional revenue, the ability of the Company to turn inventory as anticipated, the impact and duration of covid-19 lockdowns on the business of the Company diminishing in the future, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: the inability of the Company to develop its business as anticipated and to increase revenues and/or its profitable margin on such revenues, unanticipated changes to current regulations that would adversely impact the Company’s business and proposed business and other regulatory risks, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

Source: Namaste Technologies Inc.

Namaste Technologies (NXTTF)(N:CA) – Reports First Quarter 2021 Financial Results

Posted on April 28, 2021 by Admin

Namaste Technologies Reports First Quarter 2021 Financial Results

Increased Revenue While Substantially Decreasing Operating Expenses
Cannabis Revenue Increased by 113% in Q1 2021 Compared to Q1 2020

Q1 2021 Highlights:

Net cash used in operating activities decreased by $7.5 million to $2.5 million in Q1 2021 vs. Q1 2020, reflecting improved management of our short term assets.
Gross revenue for Q1 2021 was $6.15 million ($5.46 million Q1 2020), representing an increase of 13% while operating expenses decreased by 10.9% over the same period.
Net revenue for Q1 2021 was $5.5 million ($5.3 million in Q1 2020).
Cannabis revenue increased by 113% vs the same quarter last year, and maintained its strong position at 47% of total net revenues, the second highest percentage for cannabis revenue out of total net revenue achieved in the last four quarters.
Inventories decreased by 33% to $5.9 million in Q1 2021 ($8.8 million in Q1 2020) with increased revenues, demonstrating improved inventory management practices implemented as a key initiative to reduce slow moving inventory in 2020.
Accounts receivables decreased 22% in Q1 2021 vs. Q1 2020 despite an increase in sales, illustrating our ability to convert short term assets into cash much more efficiently.
The Company’s working capital position remains strong at $31 million as at February 28, 2021 bolstered by the closing of a bought deal financing of $23 million (approximately $21 million net of all fees, costs and expenses).

Re cent Corporate Highlights:

Announced the addition of leading licensed producers to the CannMart.com platform including: Auxly Cannabis Group, Hexo Corp and The Green Organic Dutchman Holdings (TGOD).
Announced that CannMart Inc., the Company’s wholly-owned subsidiary, has expanded its product offering to both our provincial customers who retain exclusive rights to sell to recreational consumers and to our own medical customers across Canada via CannMart.com, by entering into a number of supply agreements including with CannTx Life Sciences Inc., Rilaxe Canna Inc. and Safari Flower Co.
Launched CannMart.com into the USA offering American resident hemp derived CBD and smoking accessories.
Received a standard processing licence from Health Canada for CannMart Labs Inc. (“Labs”), the Company’s wholly owned subsidiary with its state-of-the-art BHO extraction facility.
Announced the Company’s evolution into a pre-eminent wellness company, connecting consumers to their wellness needs of tomorrow, with planned expansion into the nutraceuticals market in fiscal year 2021.
Completed the acquisition of 49% interest in Labs to take the Company to 100% ownership.

Labs Update:

Namaste Virtual Town Hall:

The Company would like to invite shareholders and guests to participate in attending a virtual town hall to hear a presentation on the progress made by the Company.

Thursday, May 6, 2021
12:00 p.m. EST
Presentation by Meni Morim followed by Q&A
All Shareholders are invited to submit their questions by May 3rd to: ir@namastetechnologies.com. Our CEO, Meni Morim, will answer submitted investors questions during the town hall event.
Shareholders can access the event using the following link: http://bofc.me/may6townhall

NON IFRS FINANCIAL MEASURES

The Company believes these non-IFRS financial measures provide useful information to both management and investors in measuring the financial performance and financial condition of the Company.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f090bdde-878d-4d4b-9403-9206df82fc9b

(i) Current and deferred income taxes, depreciation and amortization, and share-based compensation were excluded from the Adjusted EBITDA calculation as they do not represent cash expenditures.

(iii) Non-recurring costs related to restructuring and legacy issues were excluded from Adjusted EBITDA calculation.

(iv) Impairment loss relating to goodwill, customer list, domains and brand names were excluded from Adjusted EBITDA calculation.

(v) Impairment loss relating to receivable is a provision for expected credit loss to an associate and was excluded from Adjusted EBITDA calculation.

(vi) Share of associates loss, net of tax, is excluded due to lack of control.

About Namaste Technologies Inc.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: ir@namastetechnologies.com

Source: Namaste Technologies Inc

Source: Namaste Technologies Inc.

Medical Cannabis Company Performance Vs. Recreational Stock Performance?

Posted on April 28, 2021 by Admin

Distinctly Different Cannabis Strains for Investors to Consider

Marijuana’s prevalence in everyday life continues to increase as the march toward legalization continues. In varying degrees, 34 U.S. states now allow medical or recreational use within their borders. As the trend mounts toward reducing or eliminating prohibitions, potentially even federal laws, investors are looking to determine the value and the segments within the industry’s verticals that could provide the best performance. The potential for both the medical and recreational marijuana business is staggering. Currently, unlawful cannabis sales are estimated to be more than $100 billion each year. The legal industry is catching up. The BDSA, which keeps data for the Cannabis industry, predicts that by 2026 the legal U.S. cannabis market will reach $41 billion in annual sales. This is roughly the size of the craft beer industry.

Different Branches

There are two main branches that make up the growing use. They are recreational and medical. The two represent distinctly different investment growth opportunities with different potential. Recreational marijuana has a wider audience and hence a larger potential market as compared to medical cannabis. The recreational market is often referred to as an adult-use market as it is age-restricted in states that allow marijuana. Medical cannabis is extracted and studied for its health and potentially curative benefits. There is obviously a wider audience for recreational use, consumed solely for enjoyment. The consumer base for research, development and medical benefits is naturally smaller.

Although there are still lingering stereotypes surrounding marijuana, investors are active based on their risk profile and profit appetite. Allocating a portion of one’s portfolio in what is becoming less speculative with an eye towards growth will continue along the two different paths – medical and recreational.

Medical Companies vs. Recreational Companies

The companies focused on adult-use have generally been performing better than on medical cannabis for a number of reasons. One reason is that for users to access medical cannabis, they run up against more restrictions, including the prescription requirement and medical legalization in their state. Recreational marijuana, as pointed out earlier, when comparing growth to the craft beer industry, has more potential as users. Legality and age are the largest barriers. Another key difference is the payback for medical marijuana research and development takes more time and is still considered in its infancy.

The medical marijuana stocks are evaluated with a similar methodology as those of the pharmaceutical industry. As an investor of a marijuana stock, taking an interest in the company’s research and drug pipeline is of high importance. Potential investors of medical marijuana can invest in the stocks of companies that either has medical marijuana available in the market or those that are researching the same. Some cannabis stocks are traded on the U.S. and Canadian exchanges; many offerings are available over the counter (OTC). It’s important to remember that marijuana is still officially a controlled substance and has not yet been approved as a whole in the U.S.

Recreational marijuana is taxed in states that have legalized the product which is a consideration for investors. Medical marijuana does not usually carry the sales tax burden as most are incorporated in the health care system. This impacts the cost which reflects on ultimate sales in either category.

Marijuana Business Risks

Marijuana stocks are unique because the products they design and sell are only partially legal and presumed (no guarantees) to be on their way to broader legality and legitimacy. The publicly traded companies are younger and generally small, so uncovering quality research on businesses in their infancy and in a field that is growing at a rapid pace in different directions is imperative for investors.

The stocks can be volatile as the political environment from state to state and country to country can change the outlook for the industry. This is certainly the case in states like the United States.

Take-Away

The marijuana sector is receiving significant attention from stock market investors. Whether the companies are involved in recreational, medical, or both, they are non-traditional plays covering new ground. This is where potential is usually at its highest for investors in any industry. There have been many leaps forward and will continue to be setbacks. Obtaining top-tier research to better understand exactly what business a company is in and the competition and legal framework under which they operate is critical to investing with both eyes open.

Suggested Reading:


The Future of Cannabis Crosses Many Industries	The Advantages of Microcap Equities for Investors


The Case for Higher Uranium Prices	What is the Approval Process for Medical Devices?

Sources:

https://bdsa.com/

https://www.forbes.com/sites/willyakowicz/2021/03/03/us-cannabis-sales-hit-record-175-billion-as-americans-consume-more-marijuana-than-ever-before/?sh=414178c02bcf

Photo Credit: By Jurassic Blueberrys https://creativecommons.org/licenses/by/2.0/

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Driven By Stem (STMH) – Expanding into Michigan the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

Posted on April 28, 2021 by Admin

Driven By Stem is Expanding into Michigan, the Fourth-Largest U.S. Cannabis Market – Teaming Up with Organic Guyz

New Dispensary Location Opening in Kalamazoo

Launch of Budee™ Home Delivery Statewide to Bring Great Brands and Products to Michigan Market

About Stem Holdings, Inc.

For further information, please contact:

Media Contact:
Mauria Betts
STEM HOLDINGS, INC.
Mauria@drivenbystem.com
971.319.0303

Investor Contact:
Valter Pinto / Elizabeth Barker
STEM@kcsa.com
212.896.1254 / 212-896-1203

SOURCE Stem Holdings, Inc.

ACCO Brands Corporation (ACCO) – Better-than-expected 1Q21 Results Driven by PowerA Acquisition – COVID Still a Negative

Posted on April 28, 2021 by Admin

Wednesday, April 28, 2021

ACCO Brands Corporation (ACCO)
Better-than-expected 1Q21 Results Driven by PowerA Acquisition; COVID Still a Negative

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q21 Revenue. ACCO’s 1Q21 results were driven by the PowerA acquisition, along with EMEA. North American and International results continue to lag due to COVID-related impacts. Net sales increased 6.9% to $410.5 million from $384.1 million in 2020 due to the inclusion of $62.7 million from the PowerA acquisition. Comparable sales were $332.1 million, down 13.5%. We had forecast revenue of $390 million.

1Q21 Earnings. Earnings were impacted by a number of items, both operationally related and non-operationally related. ACCO reported an operating loss of $1.1 million, compared with an operating profit of $17.4 million in 2020. Adjusted operating profit came in at $24.6 million compared to $26.4 million in 1Q20. The Company reported a net loss of $20.4 million, or $(0.21) per share, compared with …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Bassett Furniture (BSET) – Orders, Shipments, and Backlog Remain Strong

Posted on April 27, 2021 by Admin

Tuesday, April 27, 2021

Bassett Furniture (BSET)
Orders, Shipments, and Backlog Remain Strong

Bassett Furniture Industries Inc is a manufacturer, importer, and retailer of home furnishings products in the United States. It operates through the following segments: The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of company-owned stores. The Logistical Services segment offers shipping, delivery, and warehousing services.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Operating Environment. The operating environment remains strong. Orders for March 2021 (a five week fiscal month) increased 125% over March 2020 and 52% over March 2019. Shipments for March 2021 increased 59% over March 2020 and 21% over March 2019. Wholesale backlogs ended March 2021 9% higher than at the end of the Company’s first fiscal quarter ended February 27, 2021. Incoming orders continue to exceed expectations with all segments experiencing strong sales. BSET shares jumped 11% to $29.68 on the news.

Key Industry Drivers Still Positive. Key industry indicators remain positive: the housing market continues to be red hot, with low inventory, fast selling times, and low mortgage rates, although rapidly rising average home prices could slow the momentum. Weekly unemployment claims continue to trend down, the overall unemployment rate has declined to 6%, the latest JOLTS report indicated the number …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

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