FTD Q1 Report

CHR

CHR

Design matters
Nov 28, 2002
8,951
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www.avantegardens.com
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FTD ( a division of United Online ) released their first quarter numbers after the bell today. Read the entire report here.

Highlights:

- Segment revenues were $176.4 million, an increase of 11% versus the year-ago quarter. Adjusting for the unfavorable impact from foreign currency exchange rates of $1.1 million and the shift of approximately $14 million of revenues into the second quarter of 2011 related to the timing of the U.K. Mother’s Day, segment revenues in the first quarter of 2012 would have increased by $4.6 million, or 3%, compared to the year-ago quarter. (emphasis mine)

- Consumer orders[SUP](4)[/SUP] were 2.0 million, up 15% versus the year-ago quarter. Excluding the impact of the shift in the timing of the U.K. Mother’s Day in 2011, consumer orders increased 1% compared to the year-ago quarter. (emphasis mine)

- Average order value[SUP](4) [/SUP](“AOV”) was $62.91, a decrease of 1% versus an AOV of $63.28 in the year-ago quarter. Excluding the unfavorable impact from foreign currency exchange rates as well as the unfavorable impact related to the timing of the U.K. Mother's Day, AOV grew by 2% versus the year-ago quarter.

Bottom Line: The sales increase was primarily due to UK's Mother's Day being in March this year instead of in April (as in 2011).

YOY sales for FTD in North America were nearly flat (3%).

Margins were better (IMO due to more drop-ship items) but the V Day holiday moving from Monday to Tuesday seemed to have little positive impact on sales.

Florist services income was up very slightly. (More DRP dollars or unequal sending fees?)

The other UNTD divisions (Classmates/Memory Lane, Juno, NetZero) were down significantly for the quarter.

The stock was down nearly 10% in after-hours trading following the release of this report.

I was unable to listen in to the conference call. Did anyone hear it? Any highlights regarding FTD?

Not a pretty report from UNTD today.
 
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Reactions: anytimeflowers, sandytf, bootcampguy and 3 others
Interesting.... no I did not listen, but the points you highlighted are in line with an article I read (can't locate it now) last month in a financial journal eluding that UNTD can (will) not recover...
 
That is not a pretty report I think I would bet the majority of florist with good web sites and reasonable marketing showed better then a 3% gain for the qtr. And I think we all know there is going to be a ton of issues after Mother's Day week. So there 2nd qtr may no look any better.
 
I agree Steve... I hit 7.1% for the quarter, on zero advertising... I also think their 2nd qtr will take a hit...

They will get the sales, but they will have a high failure rate I'll bet...
 
Can they fudge numbers to make it look good????
 
It's interesting to see the stock market reactions to the UNTD and 1-800-Flowers reports. UNTD stock was down over 13% today and hit a new 52-week low. Yet, the company (especially due to FTD) actually produced a profit and will pay a cash dividend to investors at the end of this month.

OTOH 1-800 had a larger gain in sales, but showed almost no profits for the quarter. And the stock went up a few pennies.

FTD has already increased their service fees to consumers and it will be interesting to see if the other WSs follow suit or if shoppers bail during check-out.
 
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