Stem Holdings to Present at Canaccord Genuity’s Annual Global Cannabis Virtual Conference on May 11th

 

BOCA RATON, Fla., May 10, 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 Adam Berk, Chief Executive Officer, is scheduled to present virtually at the 2021 Canaccord Genuity Virtual Cannabis Conference, on Tuesday, May 11^th at 10:00 a.m. ET.

Canaccord Genuity’s Annual Global Cannabis Conference is an investor-focused virtual event that engages a global network of leading players in the cannabis industry. The conference will be held via webcast and a presentation link will be provided on the Company’s website or at this link.

For more information or to schedule a one-on-one meeting with Stem Holdings, please contact KCSA Strategic Communications at STEM@KCSA.com.

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).

For further information, please contact:
Media Contact: 
Mauria Betts 
STEM HOLDINGS, INC. 
Mauria@stemholdings.com  
971.319.0303

Investor Contact: 
KCSA Strategic Communications 
Valter Pinto or Elizabeth Barker 
+1 212-896-1254 or +1 212-896-1203
STEM@kcsa.com

SOURCE Stem Holdings, Inc.

 

Stem Holdings to Present at Canaccord Genuity’s Annual Global Cannabis Virtual Conference on May 11th

 

BOCA RATON, Fla., May 10, 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 Adam Berk, Chief Executive Officer, is scheduled to present virtually at the 2021 Canaccord Genuity Virtual Cannabis Conference, on Tuesday, May 11^th at 10:00 a.m. ET.

Canaccord Genuity’s Annual Global Cannabis Conference is an investor-focused virtual event that engages a global network of leading players in the cannabis industry. The conference will be held via webcast and a presentation link will be provided on the Company’s website or at this link.

For more information or to schedule a one-on-one meeting with Stem Holdings, please contact KCSA Strategic Communications at STEM@KCSA.com.

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).

For further information, please contact:
Media Contact: 
Mauria Betts 
STEM HOLDINGS, INC. 
Mauria@stemholdings.com  
971.319.0303

Investor Contact: 
KCSA Strategic Communications 
Valter Pinto or Elizabeth Barker 
+1 212-896-1254 or +1 212-896-1203
STEM@kcsa.com

SOURCE Stem Holdings, Inc.

Will the Tide Keep Rolling in for BEACH Stocks?

 

While the froth on FAANG stocks may have receded a bit over last year, BEACH stocks have experienced tremendous appreciation. The BEACH industries include Bookings, Entertainment,
Airlines, Cruises, and Hotels.

They may not have all fully recovered after the pandemic selloff last year, but the sun is starting to shine for them, and they’ve become hot.

Whether they’ll keep making waves depends on many factors, but there is certainly potential for further growth.

The infographic below shows just how much some of these grown from mid-March last year to Mid-March this year.

 

 

An article in Channelchek this week titled Investing in Leisure Post Pandemic provides even more updated information with some stocks to look at that are not mentioned above.

Companies Beginning to Benefit from Increased Leisure Spending

 

Businesses involved in providing leisure and entertainment are starting to benefit from the rebound in Americans getting out and treating themselves. This means many companies that were hardest hit by the reaction to Covid-19 are now set to be the winners as borders open, travel picks up, and people who have saved all year not going out are ready to spend.

 

Money to Spend

“We have had a lot of repressed spending. Money is just sitting in accounts ready to be spent, which will benefit the market on a whole,” says Jeremy Siegel, Professor of Finance at the Wharton School of the University of Pennsylvania. Not only are people looking to begin to experience the company of others, trips to the store, and live entertainment, the sharp increase in the money supply of household savings is likely to soon be unleashed in the travel and leisure sector.

Stay-home stocks like Zoom, Netflix, and Amazon reached their peak valuations in recent months and have been lagging behind the broader market since November 2020. There has been increased gravitation from these companies to those that benefit from recreation; this is in anticipation of what is likely to be explosive traffic for businesses that have been idle.

 

 

“Going Out” Stocks

The time for going-out stocks has arrived with the vaccine rollouts – the travel and leisure sector is set for a comeback. Companies in the airline, theater, and hospitality industries are still seeing traffic at below pre-pandemic levels; this could soon change — sales over this time last year may break records in terms of increases.

Below are companies poised to benefit from the trend to increased leisure activity:

Full House Resorts, Inc. (FLL) develops, owns, operates and manages casinos and related hospitality and entertainment facilities in regional U.S. markets. Based in Las Vegas, the company operates five casino facilities. Each of its gaming properties reflects a unique atmosphere reflecting the region of the country where it is located. The stock recently traded at $9.47, a 150% increase from the start of the year.   

FAT Brands, Inc. (FAT) owns nine restaurant brands: Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Ponderosa and Bonanza Steakhouses, Hurricane Grill & Wings, Elevation Burger, and Yalla Mediterranean. The company also franchises over 700 units worldwide. Restaurant groups that had seen dips over the past year are seeing a resurgence as vaccinated diners increasingly go out to eat, their stocks are beginning to anticipate even more customers. FAT Brands began the year at $5.66 and recently traded at $9.48 a 67.50% increase year-to-date.

Basset Furniture Industries, Inc. (BSET), is one of the oldest furniture manufacturers in Virginia. The company is known for its distinctly American styles and durable, attractive products. Consumers quarantined in their homes have had plenty of time to reimagine their living and working spaces, so furniture sales continue to soar, particularly for direct-to-consumer (DTC) and ready-to-assemble (RTA) products. A generational swing in furniture sales, where younger Millennials and Gen Z buyers that are comfortable with large online purchases, led to a 12% increase in first-time online buyers. Benefitting from these ongoing trends, Basset saw a 186% jump in their stock valuation, starting the year at $19.17 and currently trading at $35.68. A return of in-person shopping activity would help enhance sales.

Esports Entertainment Group (GMBL) is an expanding company in the rapidly growing esports and gaming industry. The company also has its own online betting platform, further capturing the market of sports enthusiasts and bettors. Amid lockdowns and stadium closures, virtual sporting events and online gaming tournaments drove the company’s growth. The stock’s value shot up in February 2020, just as people were subject to stay-at-home orders and curfews. The sector continues to evolve in 2021 and is set to help redefine modern sporting entertainment. Shares of the company started off at $6.75 in January 2021 and have gone up to $11.97, nearly doubling their value in just 4 months.

Travel Zoo (TZOO) is an online company that vets and publishes travel and entertainment deals from more than 2,000 businesses including restaurants and spas. It currently boasts 28 million members in North America, Europe, and Asia Pacific and has 25 offices around the world. The platform allows members to benefit from TravelZoo partnering with travel and leisure companies to give consumers access to vacation packages, trips and experiential travel packages. The stock has seen a nearly 200% jump just this year, closing at $8.71 in January 2021 and more recently at $16.99.

 

Take-Away

Annual spending on leisure activities was already seeing a rise before the pandemic. Despite having experienced a nightmarish past year, the travel and leisure sector is set to rebound in full force. With a rise in savings, consumers are now itching to get out and get away as lockdowns lift and travel restrictions ease.

 

About the Author:

Laila Jiwani is a freelance writer specializing in topics related to social finance and international economic trends. Currently based in Dallas, Texas, she is an Erasmus Mundus Joint Master’s Graduate and has worked for economic development organizations in the U.S., Morocco, Kenya, Pakistan and
Kyrgyzstan.

 

Suggested Content:

Bassett Furniture C-Suite Interview w/Rob Spilman, CEO	Esports Entertainment Group C-Suite Interview w/Grant Johnson, CEO

Fat Brands Inc. Virtual Road Show	More Frequent Travel Could Be the Actual Aftermath of the Pandemic

 

Sources:

 

https://www.bloomberg.com/news/articles/2021-02-20/a-year-after-covid-crash-pandemic-losers-are-the-new-winners

https://www.forbes.com/sites/forbesmoneyteam/2020/12/07/money-2021-a-post-pandemic-playbook/?sh=58a603455b95

Stay up to date. Follow us:

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Will the Tide Keep Rolling in for BEACH Stocks?

 

While the froth on FAANG stocks may have receded a bit over last year, BEACH stocks have experienced tremendous appreciation. The BEACH industries include Bookings, Entertainment,
Airlines, Cruises, and Hotels.

They may not have all fully recovered after the pandemic selloff last year, but the sun is starting to shine for them, and they’ve become hot.

Whether they’ll keep making waves depends on many factors, but there is certainly potential for further growth.

The infographic below shows just how much some of these grown from mid-March last year to Mid-March this year.

 

 

An article in Channelchek this week titled Investing in Leisure Post Pandemic provides even more updated information with some stocks to look at that are not mentioned above.

Ten Largest Product Recalls, Plus Peloton

 

As inconvenient as recalls are to consumers, they create financial, brand, and public relations challenges for the company producing the product. When orchestrated well, product recalls have had the effect of helping the company continue being successful. When executed poorly, they have wound up costing the company its existence and even placed executives in prison. Yesterday, Peloton recalled every treadmill it has ever sold in the U.S. The reasons are sad and should be treated with care. Leading up to their announcement, the company is likely to have developed a plan to try and keep the brand strong and perhaps even springboard forward from the increased notoriety.

The following are ten other recalls that have had the highest upfront costs to the company.

 

Tylenol Recall

1982, $100 million

There have been nine larger recalls since the Tylenol recall in 1982. However, Johnson & Johnson’s Tylenol recall is perhaps the most significant. It’s known as “the recall that started them all,” and it set the standard for the way companies should handle themselves when they find themselves in the spotlight and a likely recall situation. It is also responsible for much of the safety packaging used today.

An event of malicious product tampering that has yet to be solved, caused seven people in the Chicago area to die after taking Extra-Strength Tylenol laced with cyanide. After it was discovered how they died, J&J spent more than $100 million to recall 31 million bottles of its best-selling product. Johnson and Johnson’s quick and decisive steps are credited with saving the Tylenol brand. J&J’s stock price fell initially; however it fully recovered within two months.

 

Peanut Corp. of America’s Salmonella Outbreak

2009, $1 billion

Peanut Corp. of America was an “under the radar” peanut processor in Georgia that supplied major brands such as Kellogg and ConAgra. They had a massive salmonella outbreak at their processing facility, which resulted in the contamination of thousands of their peanut products. This led to the death of nine people and caused hundreds to become ill. Over 3,913 different products from almost 400 other companies had to be recalled, additionally the salmonella issue caused consumers to avoid peanut butter. This mistrust drove down industry-wide sales by 25%.

An executive of PCA was sentenced to 28 years in prison for his role and Peanut Corp. declared bankruptcy and went out of business. In addition to the losses incurred by PCA, the Georgia Peanut Commission has estimated that peanut producers lost approximately $1 billion from lost production and sales, even though their products were not contaminated.

 

Toyota’s Floor Mats

2010, $3.2 billion

Floor mats cost Toyota dearly as they were forced to recall 8.1 million vehicles because of the potential for gas pedals to get stuck in floor mats; the problem caused acceleration and other problems. The design flaw is believed to have caused 89 deaths.

In 2010, Toyota’s cost of the recall was approximately $2 billion. Four years later, the company paid a $1.2 billion fine to avoid prosecution from the DOJ for covering up the faulty floor mat issues and other safety problems.

 

Pfizer Bextra

2005, $3.3 billion

The FDA told pharmaceutical giant Pfizer to pull Bextra, an arthritis painkiller, off the market because of heart risks and “life-threatening” skin reactions. At the time, Bextra was providing annual sales of $1.3 billion for the company. Pfizer settled civil and criminal allegations that it had illegally marketed Bextra in 2009. The $2.3 billion payout was the highest health-care fraud settlement and the largest criminal fine of any kind at the time. Overall, the recall has cost Pfizer at least $3.3 billion.

 

General Motors’ Ignition Switch Recall

2014, $4.1 billion

In 2014, General Motors was required to recall 30.4 million cars because they had faulty ignition switches that could, without warning,  shut down the engine, this then disabled the power steering, brakes, and airbags. The ignition problem was linked to 124 deaths and far more injuries. GM stock fell about 15% in 2014 while the overall market gained more than 11%.  

 

Samsung’s Galaxy Note Recall

2016, $5.3 billion

The phone to own five years ago by the world’s largest smartphone maker was discontinued and recalled.  This was after a few high-end Galaxy Note 7 phones bursted into flames. Within only two months of the products launch, the U.S. Consumer Products Safety Commission received 96 reports of overheated batteries and fires. Samsung was forced to recall 2.5 million smartphones it had just sold.

 

 

Firestone and Ford

2000, $5.6 billion

Bridgestone’s Firestone Tire and Rubber Company was severely deflated and almost out of business after defective tires installed on Ford pickups and SUVs were said to have caused 271 deaths and more than 800 injuries in the U.S.

Firestone recalled 6.5 million tires, Ford recalled and replaced 13 million. The recall cost Firestone $2 billion while Ford laid out $3 billion. Additionally, Ford faced $600 million in lawsuits. Firestone survived, but the 100-year relationship with Ford went flat.

 

Merck Vioxx

2004, $8.9 billion

In 1999 Merck’s Vioxx was considered to be a breakthrough medication for arthritis pain. Five years later, Merck was forced to pull the drug from the market after studies revealed Vioxx greatly increased the risk of fatal heart attacks and strokes. At the time, 20 million Americans had already taken the prescription medication. 140,000 American heart attacks in the U.S. and 88,000 deaths were estimated to have been caused by the drug.

The pharmaceutical giant settled a class-action lawsuit for $4.85 billion in 2007 and agreed to a $950 million settlement with the DOJ in 2011. A shareholders’ lawsuit was settled for $830 million.

 

Volkswagen’s Diesel Engine Emissions
Fraud

2015, $18.3 billion

Customers and shareholders were both impacted when Volkswagen was caught cheating on diesel emissions tests. The company had designed software that caused its turbocharged diesel engines to show they fell within required emission standards when tested. The reality was, the engines emitted pollutants up to 40 times greater than the levels permitted under U.S. standards.

Volkswagen recalled 11 million vehicles around the world and was forced to set aside more than $18 billion to cover costs. Shares of Volkswagen recovered in two years.

 

Takata Air Bags

$24 billion and Growing

This recall did not work out well for Takata or their investors. In 2008 the safety item put in virtually every new car made on the planet was recalled. This has become the largest recall in history in terms of costs.  Roughly 42 million vehicles were recalled in order to replace 56 million Takata airbags that could explode and hurl metal shrapnel at vehicle occupants. The Takata product caused serious injuries and 16 deaths in the United States. Regulators estimate it could take until 2023 to recall and fix every vehicle with a faulty Takata airbag.

The high cost of the recall forced Takata into bankruptcy. In 2017, the Department of Justice announced Takata would pay a $1 billion criminal penalty that included $975 million for restitution and a $25 million fine. The restitution was split into an $850 million fund for automakers that were left with recall and repair costs and a $125 million fund for consumers who were physically injured and had not already reached a settlement. On top of that, U.S. states attorney general accused Takata of concealing safety problems and failing to report the safety defects. In 2018, Takata paid $650 million to settle complaints.

Peleton Announcement

Yesterday Peloton announced they had come to an agreement with the Consumer Product Safety Commission to protect consumers. The two separate voluntary recalls of Peloton’s Tread+ and Tread treadmills came after a child died after being pulled under one of their treadmills. As many as 70 other injuries have been reported. Owners of these two products are urged by Peloton to immediately stop using them and contact the company for a full refund or “other remedy.”

Peloton, which had traded at $36.25 a year ago, became a popular investment as pandemic lockdowns caused people to buy home exercise equipment and drive up sales. The stock traded as high as 157.80 in mid-January of this year. After the recall announcement, Peloton fell 14.50% to $82.62 during regular trading on May 5, 2021.

 

Suggested Reading:

NFTs Explained	Understanding the Class Action Lawsuit Against Robinhood

Will Robinhood be Charged with Gamification?	Can Brokers Level the Playing Field for Individual Investors?

 

Virtual Road Show Series – TODAY @ 1:00pm EDT Join Ayala Pharmaceuticals CEO and CFO Yossi Maimon for this exclusive corporate presentation, followed by a Q & A session moderated by Robert LeBoyer, Noble’s senior research analyst, featuring questions taken from the audience. Registration is free and open to all investors, at any level. Register Now  |  View All Upcoming Road Shows

 

Sources:

https://www.onepeloton.com/press/articles/tread-and-tread-recall
https://www.kiplinger.com/slideshow/investing/t052-s000-10-biggest-product-recalls-of-all-time/index.html

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Wednesday, May 05, 2021

Driven By Stem (STMH)(STEM:CA)
Moving Into Michigan

Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.

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

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

Michigan Entry. Stem has teamed up with Organic Guyz, a Michigan cannabis company, for the opening of a dispensary in Kalamazoo, Michigan. The location is expected to open in June. In addition, Stem will introduce its Budee e-commerce and delivery platform to service the entire state. Although details of the relationship were not released, we view the expansion as a positive for the Company and in-line with Stem’s stated growth plans.


Attractive Market.  Total cannabis sales are projected to top $1.2 billion this year in Michigan, a state that only legalized adult use recreational in 2018 and which saw roughly $500 million of adult recreational sales in 2020. At the end of 2020, the state had just 260 recreational dispensaries. And with just 100 of the state’s 1,764 communities permitting recreational sales according to the …

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. 

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

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

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. 

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).

*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. 

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.

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, 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.

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.