Easter shift, weather dampen 1-800-Flowers Q3 results
Carle Place, N.Y. – A shift in the Easter holiday from the third to the fourth quarter and severe weather negatively impacted financial results at 1-800-Flowers.com during the third quarter of fiscal 2014. 1-800-Flowers reported a net loss of $1.42 million, compared to net profit of $2.64 million in the prior fiscal year.
Net sales dropped 9% to $139.92 million, from $144.55 million.
“The results of our fiscal third quarter reflect the shift of the Easter holiday into our fourth quarter this year, compared with last year when the holiday was in our fiscal third quarter, as well as the impact of the severe winter weather experienced across much of the country beginning in January and culminating in the storm that hit on February 13, thereby disrupting the key Valentine holiday,” said CEO Jim McCann. “Regarding the Easter shift, we anticipate capturing all of the top and bottom-line benefits associated with the holiday across all three of our business segments during our current fiscal fourth quarter.”
Eddie Bauer renews Alliance Data private label card agreement
Bellevue, Wash. – Eddie Bauer has signed a long-term renewal agreement with Alliance Data Systems Corp. to continue providing private label credit card services. Alliance Data will continue to deliver a marketing-driven private label credit card program that recognizes and rewards Eddie Bauer cardholders and complements the reward incentives the Eddie Bauer Friends rewards program offers customers.
Eddie Bauer cardholders earn nearly double the rewards for purchases made with the Eddie Bauer credit card. In addition to points earned on purchases, the credit card program provides cardholders with access to other exclusive offers such as free return shipping, birthday rewards, coupons and special shopping events. Alliance Data will support Eddie Bauer with new card issuance and ongoing customer lifecycle marketing programs designed to drive brand engagement and repeat purchases.
"We consider the Eddie Bauer Credit Card to be a key component of our brand value proposition, and we place a high degree of importance on the relationship we have with our cardholders," said Adam Diamond, senior VP, marketing for Eddie Bauer. "Alliance Data is a recognized industry leader with deep roots in retail, and we’re highly confident they will continue to extend the Eddie Bauer brand experience and deliver superior service to our cardholders."
Tuesday Morning bolsters board
Tuesday Morning Corporation has added Frank M. Hamlin, EVP of marketing at Guitar Center, and Sherry M. Smith, who most recently served as EVP and CFO of Supervalu, to its board.
Hamlin will serve on the nominating and governance committee, while Smith will serve on the audit and compensation committee.
"We welcome Frank and Sherry to the Tuesday Morning board of directors, which continues to add high-caliber, deeply experienced executives to its ranks," said Steven R. Becker, chairman of the board. "Frank’s proven retail marketing expertise and Sherry’s financial acumen will serve the company extraordinarily well, and we look forward to their contributions."
Hamlin’s career includes more than 20 years in marketing, branding strategy and customer engagement. In his current role at Guitar Center he is responsible for the development and execution of the brand and promotional strategy. He previously served as EVP and COO of E-Miles.
Smith’s tenure at Supervalu included playing a critical leadership role in finance and related functions, including acquisitions and business transformation activities. She also worked as a senior auditor for McGladrey LLP. Smith currently serves on the board of Deere & Company, where she is a member of the audit and pension plan oversight committees, and the St. Cloud State University Foundation, where she is a member of the audit and finance committee.
Based in Dallas, Texas, the leading closeout retailer operates 819 stores in 41 states.