In the May 2, 2024 quarterly earnings report, 1-800-Flowers, the parent company of Harry & David reported the following segment results which may shed light on the recent layoffs.

Segment Results

The Company provides Fiscal 2024 third quarter 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 were $131.0 million, declining 11.4% compared with $147.9 million in the prior year period, with e-commerce revenue declining 4.5% in the current year period. Gross profit margin expanded 530 basis points to 29.9%, compared with 24.6% percent in the prior year period, benefiting from lower freight costs, the Company’s inventory and labor optimization efforts, as well as a decline in certain commodity costs. Excluding the impact of the severance charge in the current period and the impairment charge in the year ago period, the segment contribution margin¹ loss improved by $6.3 million to $7.6 million, compared with a segment contribution margin¹ loss of $13.9 million in the prior year period.

In the overall company highlights section they reported:

Fiscal 2024 Third Quarter Highlights

• Total consolidated revenues decreased 9.1% to $379.4 million, compared with total consolidated revenues of $417.6 million in the prior year period. Quarter-over-quarter e-commerce revenue trends continued to improve, declining 4.9% as compared with a 6.6% decline in the prior quarter.

Read the full report at https://www.1800flowersinc.com/news-and-media/newsroom/press-releases/2024/05-02-2024