Latest news with #Celebrations
CNN
01-06-2025
- General
- CNN
Two dead and 500 arrested in France during PSG win celebrations
More than 500 people were arrested by police during the Champions League final celebrations in France, and two people were reported dead and 192 injured, the interior ministry said on Sunday. Wild celebrations erupted across the French capital and beyond on Saturday night after Paris Saint-Germain crushed Italian opponents Inter Milan to win the Champions League for the first time, although skirmishes with police later threatened to spoil the party. The interior ministry's provisional assessment as of Sunday morning was that 559 people had been arrested, including 491 in Paris, which led to 320 people being placed in police custody, 254 of them in Paris. On the Champs-Élysées, bus shelters were smashed and projectiles hurled at riot police, who fired tear gas and water cannon to push back surging crowds as thousands of supporters descended on the boutique-lined boulevard. The interior ministry on Sunday reported hundreds of fires, including more than 200 vehicles burned. Some 22 members of the security forces and seven firefighters were harmed.
Yahoo
25-05-2025
- Yahoo
I travelled on Britain's first renationalised train (and it took four times longer than usual)
'Rail Replacement Bus': three of the most depressing words in the English language. It's 5.08am, and rain is lashing at the prison-high walls of Woking station, a key commuter stop in the depths of Surrey, the steel shutters covering the entrance rattling but refusing to budge. It looks like a gloomy start for Britain's first nationalised rail service for 30 years. But then the sun comes out, the shutters lift and the train waiting on platform three is ready to leave. It's just deeply unfortunate for the Labour government that, on what should have been a rather momentous day in Labour's brave new world of rail renationalisation, over half of my journey to London is going to be replaced by a bus. Still, this hasn't thwarted the half a dozen hardy souls about to pile on board the 5.36am to Waterloo. For Rob Potter and his former colleague Steve, it's an excuse to crack open the Laphroaig single malt. 'Trains,' he says grandly, 'are the finest form of transport in the world.' Sadly, not many of the people he dealt with when he worked for South Western Railway as their customer services manager would have agreed. Users of Tripadvisor, the travel website, have given the service so many one-star reviews it's hard to find anything positive about it. (Another passenger tells me about the time he saw another South Western Railway manager – not 60-year-old Potter, mercifully – sharing a box of Celebrations with passengers one Christmas, before being angrily mobbed for his troubles, such was the level of general discontent.) In fact, customer dissatisfaction is a major reason South Western Railway was replaced with a Government-run body when the franchise ran out at 1.59am on Sunday morning. Eventually, all the privatised rail companies will come back under government control. 'It's one promise Keir Starmer is keeping and should get credit for,' says Potter. But fellow passenger Guy Holmes, a member of Warwickshire County Cricket Club, is less optimistic. He's in a rush to get to the ground for his team's derby match against local rivals Worcestershire. His connection to Euston is crucial but complex. 'There are several permutations of the journey and other engineering work to contend with,' he tells me anxiously. Matthew Tam, a 27-year-old experimental physicist at University College London, is cut from a different cloth, however. He was first in the queue to board the train at Woking and is one of a smattering of train enthusiasts braving the tedious engineering works today. Last week he was filming a new tram in Liege and posts videos of his travels around Europe by bus and train on his YouTube channel. He says that when he isn't thinking about quantum computing, he thinks about the management, integration and optimisation of public transport networks. Remarkably, he finds that Britain's myriad small rail and bus companies adds a stimulating element of confusion that his former home in Hong Kong lacks. In what can only be described as a unique example of a 'glass half full' attitude, he thinks the uniformity, efficiency and punctuality of Hong Kong's public transport is 'boring'. 'Some of my friends don't really understand. Everything arrives on time and the trains don't break down,' he says. He sees the frequent breakdowns and service failures on the rail network as puzzles to be figured out (unlike regular passengers, who find them a pain in the proverbial). I've got until Surbiton, on the London/Surrey border, before the rail replacement bus section of the line kicks in. It doesn't take long to get there, but it's quite a feat that we've actually made it anywhere: the 455 electric locomotive pulling the eight carriages from Woking to Surbiton is, after more than 60 years in service, showing its age. Streaks of dirt mar its once cheery orange, blue and yellow livery. Inside, the plum-coloured plush on the seats is wearing thin. A new blue and silver livery has been unveiled to mark South Western Railway's transition back into public ownership, but the new trains are not all in service yet. 'The 455 is a reliable workhorse but it is in need of replacement,' says driver Richard Guy. After 13 minutes of views of suburban gardens through the slightly grimy windows, at 5.59am, it was all change. Further up the line, as the transport minister Heidi Alexander is preparing to pull out of Waterloo on a very short journey for the TV cameras – on a train with the brand-new silver and royal blue livery of Labour's flagship Great British Railways – we're decanted off the train at Surbiton to find the rail replacement bus to Clapham Junction. It's a bumpy double decker, and depressingly, it's going to take about an hour. Still, the bus is easy to find, and the service slowly fills up as people trickle off the train. Network Rail engineers in fluorescent orange overalls sit downstairs. They do not look sorry that their engineering work has disrupted the bank holiday timetable. Jithin Thomas, 27, goes further: 'I hope the administrative overhaul [the network co-ordinating more closely with the train operating companies] that's likely to happen will please passengers.' To be honest, though, it is unlikely that many commuters will notice any difference, at least at first. Just as privately owned South Western Railway has been replaced by publicly owned South Western Railway, the management structure and staff will stay the same – for now, it is just the ownership that has changed. But Thomas says profits will now go into improving the service instead of investors' bank accounts. One boring hour later, the bus arrives at Clapham Junction so that we can rejoin the tracks and catch the train into London. It's a long way from platform 15 (the closest platform to where our bus arrives) to platform three, but no one has to run – there's an interminable 26-minute wait before the connecting train leaves for Waterloo. Today Clapham Junction station, normally bustling even on a Sunday, is like the scene from the zombie movie 28 Days Later, where the hero emerges after being unconscious in hospital to find London's streets deserted. There were no zombies (apart from sleep deprived passengers), but several of our fellow train-then-rail-replacement-bus passengers give up on the last leg of the (second) train, and hunt down one of a number of other, regular buses that connect Clapham to Waterloo. Tam is also bored waiting for the Waterloo train, and says he might catch a regular bus instead. This is a big deal for him: he loves buses like he loves trains, just not quite as much. He points out the irony that the rail replacement bus is operated by FirstGroup, the same company that actually ran South Western Railway when it began 29 years ago. A rail replacement bus also replaced the train on the day that John Major's privatised rail network came into service in 1996. Clearly, old habits die hard. Still, the 26-minute wait at Clapham is over, and on we board again… and after 11 minutes, we finally arrive at our final stop. The 28 miles from Woking to Waterloo has taken two hours and 10 minutes, an average speed not much faster than the stagecoaches that would have carried passengers when Waterloo was given its name in 1848. Usually, the average length of a journey from Woking to London Waterloo, without engineering works, is 33 minutes. Today it has taken four times as long. From his eyrie above the concourse at Waterloo station, an eagle-eyed South Western Railway manager spots our cameras and comes dashing down to explain why the first renationalised train was a bus. He says it was a decision taken for the benefit of passengers who would normally have caught the 06:14, the first train on a Sunday morning. To avoid making them late getting to Waterloo and possibly missing a connection, they made the first train especially early to take into account the delays caused by engineering work. It is an elegantly plausible solution, but what about that 26-minute wait at Clapham Junction? It might take a quantum physicist to work it out – but he is already on a different bus. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
BBC News
25-05-2025
- Entertainment
- BBC News
Newcastle 0-1 Everton - send us your thoughts
So the curtain has come down on Newcastle's season and the Magpies will return to the Champions League despite finishing with a defeat against Everton at St James' may have been made more nervous than Magpies fans hoped for on the final day, but ending their 70-year wait for a domestic trophy and returning to Europe's top club competitions mean it has been a glorious season for Eddie Howe and his are you feeling after the game and at the end of a long campaign?Have your say on Newcastle's performance and season - and send us some pics of the celebrations!Come back to this page on later to find a selection of your replies (We can't publish any photos from inside the stadium)
Business Wire
08-05-2025
- Business
- Business Wire
1-800-FLOWERS.COM, Inc. Reports Fiscal 2025 Third Quarter Results
JERICHO, N.Y.--(BUSINESS WIRE)-- Inc. (NASDAQ: FLWS), a leading provider of thoughtful expressions designed to help inspire customers to share more, connect more, and build more and better relationships, today reported results for its Fiscal 2025 third quarter ended March 30, 2025. "While we are deeply disappointed by the quarterly results, we are steadfast in our commitment to turning this underperformance around," said Jim McCann, Executive Chairman and current Chief Executive Officer of Inc. "Our Celebrations Wave strategy marks a pivotal evolution for the company, integrating our innovative initiatives and brand assets into a sentiment-led ecosystem. We expect this strategy will not only help address the current challenges but also drive sustainable long-term growth, ensuring we continue to deepen connections and inspire heartfelt expressions among our customers." "Throughout our history, two things have remained constant – the desire of people to stay connected and express their sentiments, and our need to evolve and grow to serve those relationships," continued Mr. McCann. "Our Company has a rich history of innovation across five waves of evolution. These waves include the establishment of our retail store footprint, the launch of a national 1-800-Flowers phone line, the introduction of our website, the transition to mobile commerce on smartphones, and the development of conversational commerce through smart devices." Mr. McCann added, 'We are embarking on our sixth wave of evolution, and we believe it will be our most transformative yet. Celebrations Wave is an amalgamation of our Relationship Innovation efforts and brand assets, accelerated by advanced technologies. We are Relationship Innovators ®, creating a sentiment-led Celebrations ecosystem that embraces the importance of relationships and our ability to serve those relationships. Our goal is to become the premier relationship destination for heartfelt and thoughtful expressions." "As we embark on this exciting new chapter, I am thrilled to welcome Adolfo Villagomez as our new CEO, who will lead the charge in implementing and driving the Celebrations Wave strategy. Adolfo's leadership and vision will be instrumental in transforming our company and ensuring we continue to innovate and connect with our customers on a deeper level. Together, we will create an ecosystem that elevates the importance of relationships and heartfelt expressions." Celebrations Wave Celebrations Wave represents a comprehensive evolution of the Company that begins with transforming the customer journey into a sentiment-led experience, helping them nourish stronger and more meaningful relationships through expression and thoughtful sharing. Celebrations Wave is a multi-year strategic initiative that integrates the Company's all-star family of brands and its Relationship Innovation and Work Smarter initiatives to form a hyper-personalized Celebrations ecosystem that helps customers better manage their relationships and inspires them to share more sentiments. Celebrations Wave strives to advance the Company's vision of becoming the premier relationship destination for heartfelt expressions, with a business model that aligns with future technological advancements and consumer purchasing preferences. This strategic plan seeks to increase revenues of both every day and holiday occasions, optimize operations, lower costs, and accelerate the pace of change, leading to higher Adjusted EBITDA and cash flows over time, positioning the Company for sustainable and profitable growth. Sentiment-Led Customer Journey: Developing a Celebrations ecosystem that makes regular connections with friends and family more fun and accessible. The customer journey is centered on helping customers easily express their sentiments, foster stronger relationships and inspire them to share more. Increase Frequency and Conversion: Provide engaging experiences that begin with complimentary and affordable greeting card options, which combined with notifications and reminders, encourage greater frequency of engagement. This strategy ensures the Company remains prominent in consumers' consideration when selecting an item to accompany their greeting card. Broaden Price Points: Broadening the range of price points, both lower and higher, to accommodate expressions suitable for various occasions and income levels. Employing a tiered sales approach beginning with complimentary and low-cost options. Increase Marketing Efficiency: Enhance marketing efficiency and effectiveness by emphasizing relationship-driven interactions, boosting engagement with existing customers through content, and using tools like reminders to help customers manage their relationships. By leveraging personalized, timely messages, the Company strives to foster stronger customer relationships, drive recurring behavior, and ultimately increase customer lifetime value. Leverage New Technologies: Integrate advanced technologies into its Celebrations ecosystem to deliver a more personalized and dynamic expressions experience for customers. By leveraging AI-driven recommendations, predictive analytics, and content, the Company will better understand customer preferences, enhance user satisfaction, and accelerate the rate of innovation, ensuring a faster adaptation to evolving market trends and customer demands. Strengthen Celebrations Passport Loyalty Program: By enhancing the loyalty program, the Company strives to increase customer engagement and boost long-term loyalty amongst its best customers. Fiscal 2025 Third Quarter Highlights Total consolidated revenues decreased 12.6% to $331.5 million, as compared with the prior year period, due to a decline in consumer demand. Gross profit margin was 31.7%, which includes $4.6 million in customer rebates, replacement gift costs and inventory write-offs associated with the new order system implementation issues that continued during the holiday period. Excluding the $4.6 million impact, gross profit margin declined 350 basis points to 33.1%, as compared to the prior year, driven by a highly promotional sales environment and deleveraging on the sales decline. Operating expenses increased $131.8 million from the prior year period to $298.4 million, which includes a $138.2 million non-cash goodwill and intangible impairment charge related to the Company's Consumer Floral and Gifts segment and its Personalization Mall trademark. Excluding the impact of this charge, systems implementation costs in the current period, and the impact of severance costs and the appreciation or depreciation of investments in the Company's non-qualified compensation plan in both periods, adjusted operating expenses of $160.7 million were essentially flat compared with the prior year period. The Net loss for the quarter was ($178.2) million, or ($2.80) per diluted share, as compared with a net loss of ($16.9) million, or ($0.26) per diluted share in the prior year period. The Adjusted Net Loss 1 was ($44.9) million, or ($0.71) per diluted share, compared with an Adjusted Net Loss 1 of ($18.0) million, or ($0.28) per diluted share, in the prior year period. The Adjusted EBITDA 1 loss for the quarter was ($34.9) million, as compared with an Adjusted EBITDA 1 loss of ($5.7) million in the prior year period. (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. Segment Results The Company provides Fiscal 2025 third quarter 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 declined 18.2% to $107.1 million as compared with the prior year period. Gross profit margin was 18.1%, which includes $4.6 million in costs related to the new order system implementation costs. Excluding the $4.6 million impact, gross profit margin decreased 740 basis points to 22.5%, due to a highly promotional sales environment and the impact of reduced sales. Segment contribution margin 1, excluding systems implementation-related costs and severance costs, was a loss of ($22.3) million, as compared with a segment contribution margin 1 loss of ($7.6) million in the prior year period. Consumer Floral & Gifts: Revenues for the quarter declined 11.4% to $196.0 million as compared with the prior year period. Gross profit margin decreased 250 basis points to 36.8%, mainly due to the impact of lower sales and a promotional consumer environment. Segment contribution margin 1 excluding the impairment charge was $6.5 million, compared with a segment contribution margin 1 of $22.8 million in the prior year period. BloomNet: Revenues for the quarter increased 4.5% to $28.6 million compared with the prior year period. Gross profit margin increased 150 basis points to 46.9% due to lower florist rebates. Segment contribution margin 1 was $8.5 million, compared with $7.6 million in the prior year period. Company Guidance Given the rapidly evolving macroeconomic landscape and the uncertainties that continue to shape the near-term outlook, the Company has made the decision to withdraw its near-term guidance. This decision reflects the unpredictable external factors affecting the current macro environment and the management team's focus on executing a transformational strategy that positions the Company for long-term success. Credit Agreement Amendment The Company also announced that it has amended its credit agreement. Additional information can be found in the Company's Form 8-K that was filed with the SEC this afternoon, May 8, 2025. Conference Call The Company will conduct a conference call to discuss the above details and attached financial results today, May 8, 2025, at 4:30 p.m. (ET). The conference call will be webcast from the Investors section of the Company's website at A recording of the call will be posted on the Investors 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 7:00 p.m. (ET) today through May 15, 2025, at: (US) 1-877-344-7529; (Canada) 855-669-9658; (International) 1-412-317-0088; enter conference ID #: 4626916. 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. 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. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The lack of such reconciling information should be considered when assessing the impact of such disclosures. 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 Deferred Compensation Plan ('NQDC') 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 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 Segment Contribution Margin is defined as Segment 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 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 this limitation when using these measures 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) Per Common Share 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 Net Income (Loss) Per Common Share 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. Free Cash Flow: We define Free Cash Flow as net cash provided by operating activities less capital expenditures. The Company considers Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of fixed assets, which can then be used to, among other things, invest in the Company's business, make strategic acquisitions, strengthen the balance sheet, and repurchase stock or retire debt. Free Cash Flow is a liquidity measure that is frequently used by the investment community in the evaluation of similarly situated companies. Since Free Cash Flow is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. A limitation of the utility of Free Cash Flow as a measure of financial performance is that it does not represent the total increase or decrease in the Company's cash balance for the period. About Inc. Inc. is a leading provider of thoughtful expressions designed to help inspire customers to share more, connect more, and build more and better relationships. The Company's e-commerce business platform features an all-star family of brands, including: ®, ®, CardIsle ®, Cheryl's Cookies ®, Harry & David ®, ®, Shari's Berries ®, ®, Things Remembered®, Moose Munch ®, The Popcorn Factory ®, Wolferman's Bakery ®, Vital Choice ®, Simply Chocolate ® and Scharffen Berger ®. Through the Celebrations Passport ® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 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; DesignPac Gifts, LLC, a manufacturer of gift baskets and towers; and Alice's Table ®, a lifestyle business offering fully digital livestreaming and on demand floral, culinary and other experiences to guests across the country. Inc. was recognized among America's Most Trustworthy Companies by Newsweek for 2024. Inc. was also recognized as one of America's Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit FLWS–COMP FLWS-FN 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,' 'should,' '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 guidance for the full Fiscal year; the Company's ability to leverage its operating platform and reduce its operating expense ratio; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic initiatives; 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 industry and economic conditions that may affect levels of discretionary customer purchases of the Company's products. 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. Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands) June 30, 2024 Assets Current assets: Cash and cash equivalents $ 84,684 $ 159,437 Trade receivables, net 28,772 18,024 Inventories 160,315 176,591 Prepaid and other 30,054 31,680 Total current assets 303,825 385,732 Property, plant and equipment, net 219,677 223,789 Operating lease right-of-use assets 111,879 113,926 Goodwill 43,228 156,537 Other intangibles, net 89,820 116,216 Other assets 37,788 36,448 Total assets $ 806,217 $ 1,032,648 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 56,853 $ 80,005 Accrued expenses 105,666 121,303 Current maturities of long-term debt 15,000 10,000 Current portion of long-term operating lease liabilities 18,218 16,511 Total current liabilities 195,737 227,819 Long-term debt, net 142,278 177,113 Long-term operating lease liabilities 103,744 105,866 Deferred tax liabilities, net 8,982 19,402 Other liabilities 37,746 36,106 Total liabilities 488,487 566,306 Total stockholders' equity 317,730 466,342 Total liabilities and stockholders' equity $ 806,217 $ 1,032,648 Expand 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 30, 2025 March 31, 2024 March 30, 2025 March 31, 2024 Net revenues: E-Commerce $ 291,758 $ 340,241 $ 1,162,258 $ 1,288,558 Other 39,696 39,164 186,778 181,951 Total net revenues 331,454 379,405 1,349,036 1,470,509 Cost of revenues 226,455 240,688 816,125 874,167 Gross profit 104,999 138,717 532,911 596,342 Operating expenses: Marketing and sales 106,728 105,828 375,828 376,903 Technology and development 14,728 15,291 46,340 45,417 General and administrative 25,634 32,295 81,570 87,938 Depreciation and amortization 13,119 13,232 40,287 40,578 Goodwill and intangible impairment 138,220 - 138,220 19,762 Total operating expenses 298,429 166,646 682,245 570,598 Operating income (loss) (193,430 ) (27,929 ) (149,334 ) 25,744 Interest expense, net 1,462 881 9,218 8,974 Other expense (income), net 1,827 (3,574 ) (1,104 ) (5,836 ) Income (loss) before income taxes (196,719 ) (25,236 ) (157,448 ) 22,606 Income tax (benefit) expense (18,475 ) (8,333 ) (9,362 ) 7,844 Net income (loss) $ (178,244 ) $ (16,903 ) $ (148,086 ) $ 14,762 Weighted average shares used in the calculation of net income (loss) per common share: Basic 63,598 64,489 63,877 64,703 Diluted 63,598 64,489 63,877 65,057 Expand Inc. and Subsidiaries Selected Financial Information Consolidated Statements of Cash Flows (in thousands) (unaudited) Nine Months Ended March 30, 2025 March 31, 2024 Operating activities: Net income (loss) $ (148,086 ) $ 14,762 Adjustments to reconcile net income (loss) to net cash provided by operating activities, net of acquisitions: Goodwill and intangible impairment 138,220 19,762 Depreciation and amortization 40,287 40,578 Amortization of deferred financing costs 561 541 Deferred income taxes (10,419 ) (8,535 ) Bad debt expense 444 418 Stock-based compensation 9,106 7,641 Other non-cash items (161 ) (122 ) Changes in operating items: Trade receivables (11,133 ) (6,778 ) Inventories 17,569 31,674 Prepaid and other 1,669 4,761 Accounts payable and accrued expenses (38,946 ) (6,077 ) Other assets and liabilities 1,595 1,426 Net cash provided by operating activities 706 100,051 Investing activities: Acquisitions, net of cash acquired (3,000 ) - Capital expenditures (32,431 ) (26,482 ) Net cash used in investing activities (35,431 ) (26,482 ) Financing activities: Acquisition of treasury stock (9,913 ) (9,178 ) Proceeds from exercise of employee stock options 281 258 Proceeds from bank borrowings 110,000 82,000 Repayment of bank borrowings (140,000 ) (89,500 ) Debt issuance cost (396 ) - Net cash used in financing activities (40,028 ) (16,420 ) Net change in cash and cash equivalents (74,753 ) 57,149 Cash and cash equivalents: Beginning of period 159,437 126,807 End of period $ 84,684 $ 183,956 Expand Inc. and Subsidiaries Selected Financial Information – Category Information (dollars in thousands) (unaudited) Three Months Ended Net revenues: Consumer Floral & Gifts $ 196,030 $ - $ - $ - $ 196,030 $ 221,207 $ - $ 221,207 -11.4 % BloomNet 28,552 - - - 28,552 27,314 - 27,314 4.5 % Gourmet Foods & Gift Baskets 107,088 - - - 107,088 130,989 - 130,989 -18.2 % Corporate 69 - - - 69 167 - 167 -58.7 % Intercompany eliminations (285 ) - - - (285 ) (272 ) - (272 ) -4.8 % Total net revenues $ 331,454 $ - $ - $ - $ 331,454 $ 379,405 $ - $ 379,405 -12.6 % Gross profit: Consumer Floral & Gifts $ 72,045 $ - $ - $ - $ 72,045 $ 87,005 $ - $ 87,005 -17.2 % 36.8 % 36.8 % 39.3 % 39.3 % BloomNet 13,399 - - - 13,399 12,411 - 12,411 8.0 % 46.9 % 46.9 % 45.4 % 45.4 % Gourmet Foods & Gift Baskets 19,436 4,633 - - 24,069 39,169 - 39,169 -38.6 % 18.1 % 22.5 % 29.9 % 29.9 % Corporate 119 - - - 119 132 - 132 -9.8 % 172.5 % 172.5 % 79.0 % 79.0 % Total gross profit $ 104,999 $ 4,633 $ - $ - $ 109,632 $ 138,717 $ - $ 138,717 -21.0 % 31.7 % - - - 33.1 % 36.6 % - 36.6 % EBITDA (non-GAAP): Segment Contribution Margin (non-GAAP) (a): Consumer Floral & Gifts $ (131,690 ) $ - $ 138,220 $ - $ 6,530 $ 22,190 $ 630 $ 22,820 -71.4 % BloomNet 8,472 - - 33 8,505 7,506 69 7,575 12.3 % Gourmet Foods & Gift Baskets (27,802 ) 5,314 - 181 (22,307 ) (8,172 ) 538 (7,634 ) -192.2 % Segment Contribution Margin Subtotal (151,020 ) 5,314 138,220 214 (7,272 ) 21,524 1,237 22,761 -131.9 % Corporate (b) (29,291 ) - - 494 (28,797 ) (36,221 ) 1,180 (35,041 ) 17.8 % EBITDA (non-GAAP) (180,311 ) 5,314 138,220 708 (36,069 ) (14,697 ) 2,417 (12,280 ) -193.7 % Add: Stock-based compensation 2,998 - - - 2,998 3,046 - 3,046 -1.6 % Add: Compensation charge related to NQDC Plan Investment (Depreciation) Appreciation (1,849 ) - - - (1,849 ) 3,534 - 3,534 -152.3 % Adjusted EBITDA (non-GAAP) $ (179,162 ) $ 5,314 $ 138,220 $ 708 $ (34,920 ) $ (8,117 ) $ 2,417 $ (5,700 ) -512.6 % Expand Inc. and Subsidiaries Selected Financial Information – Category Information (dollars in thousands) (unaudited) Nine Months Ended Net revenues: Consumer Floral & Gifts $ 565,559 $ - $ - $ - $ 565,559 $ 618,236 $ - $ - $ 618,236 -8.5 % BloomNet 74,464 - - - 74,464 83,420 - - 83,420 -10.7 % Gourmet Foods & Gift Baskets 709,545 - - - 709,545 769,061 - - 769,061 -7.7 % Corporate 271 - - - 271 716 - - 716 -62.2 % Intercompany eliminations (803 ) - - - (803 ) (924 ) - - (924 ) 13.1 % Total net revenues $ 1,349,036 $ - $ - $ - $ 1,349,036 $ 1,470,509 $ - $ - $ 1,470,509 -8.3 % Gross profit: Consumer Floral & Gifts $ 224,262 $ - $ - $ - $ 224,262 $ 252,503 $ - $ - $ 252,503 -11.2 % 39.7 % 39.7 % 40.8 % 40.8 % BloomNet 36,551 - - - 36,551 39,883 - - 39,883 -8.4 % 49.1 % 49.1 % 47.8 % 47.8 % Gourmet Foods & Gift Baskets 271,670 6,625 - - 278,295 303,276 - - 303,276 -8.2 % 38.3 % 39.2 % 39.4 % 39.4 % Corporate 428 - - - 428 680 - - 680 -37.1 % 157.9 % 157.9 % 95.0 % 95.0 % Total gross profit $ 532,911 $ 6,625 $ - $ - $ 539,536 $ 596,342 $ - $ - $ 596,342 -9.5 % 39.5 % - - - 40.0 % 40.6 % - - 40.6 % EBITDA (non-GAAP): Segment Contribution Margin (non-GAAP) (a): Consumer Floral & Gifts $ (105,159 ) $ - $ 138,220 $ - $ 33,061 $ 41,609 $ 19,762 $ 630 $ 62,001 -46.7 % BloomNet 22,773 - - 33 22,806 25,981 - 69 26,050 -12.5 % Gourmet Foods & Gift Baskets 67,222 10,393 - 181 77,796 98,953 - 538 99,491 -21.8 % Segment Contribution Margin Subtotal (15,164 ) 10,393 138,220 214 133,663 166,543 19,762 1,237 187,542 -28.7 % Corporate (b) (93,883 ) 3,008 - 494 (90,381 ) (100,221 ) - 1,180 (99,041 ) 8.7 % EBITDA (non-GAAP) (109,047 ) 13,401 138,220 708 43,282 66,322 19,762 2,417 88,501 -51.1 % Add: Stock-based compensation 9,106 - - - 9,106 7,641 - - 7,641 19.2 % Add: Compensation charge related to NQDC Plan Investment Appreciation 1,024 - - - 1,024 5,712 - - 5,712 -82.1 % Adjusted EBITDA (non-GAAP) $ (98,917 ) $ 13,401 $ 138,220 $ 708 $ 53,412 $ 79,675 $ 19,762 $ 2,417 $ 101,854 -47.6 % Expand Inc. and Subsidiaries Selected Financial Information (in thousands, except for per share data) (unaudited) Reconciliation of net income (loss) to adjusted net income (loss) (non-GAAP): Three Months Ended Nine Months Ended March 30, 2025 March 31, 2024 March 30, 2025 March 31, 2024 Net income (loss) $ (178,244 ) $ (16,903 ) $ (148,086 ) $ 14,762 Adjustments to reconcile net income (loss) to adjusted net income (loss) (non-GAAP) Add: System implementation costs 5,314 - 13,401 - Add: Restructuring cost/Severance 708 2,417 708 2,417 Add: Goodwill and intangible impairment 138,220 - 138,220 19,762 Deduct: Tax related adjustments (10,931 ) (3,538 ) (12,933 ) (3,538 ) Adjusted net income (loss) (non-GAAP) $ (44,933 ) $ (18,024 ) $ (8,690 ) $ 33,403 Basic and diluted net income (loss) per common share Basic $ (2.80 ) $ (0.26 ) $ (2.32 ) $ 0.23 Diluted $ (2.80 ) $ (0.26 ) $ (2.32 ) $ 0.23 Basic and diluted adjusted net income (loss) per common share (non-GAAP) Basic $ (0.71 ) $ (0.28 ) $ (0.14 ) $ 0.52 Diluted $ (0.71 ) $ (0.28 ) $ (0.14 ) $ 0.51 Weighted average shares used in the calculation of basic and diluted net income (loss) and adjusted net (loss) income per common share Basic 63,598 64,489 63,877 64,703 Diluted 63,598 64,489 63,877 65,057 Expand 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 30, 2025 March 31, 2024 March 30, 2025 March 31, 2024 Net income (loss) $ (178,244 ) $ (16,903 ) $ (148,086 ) $ 14,762 Add: Interest expense and other, net 3,289 (2,693 ) 8,114 3,138 Add: Depreciation and amortization 13,119 13,232 40,287 40,578 Add: Income tax (benefit) expense (18,475 ) (8,333 ) (9,362 ) 7,844 EBITDA (180,311 ) (14,697 ) (109,047 ) 66,322 Add: Stock-based compensation 2,998 3,046 9,106 7,641 Add: Compensation charge related to NQDC Plan Investment (Depreciation) Appreciation (1,849 ) 3,534 1,024 5,712 Add: System implementation costs 5,314 - 13,401 - Add: Goodwill and intangible impairment 138,220 - 138,220 19,762 Add: Restructuring cost/Severance 708 2,417 708 2,417 Adjusted EBITDA $ (34,920 ) $ (5,700 ) $ 53,412 $ 101,854 (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. In order 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. Expand Inc. and Subsidiaries Selected Financial Information (in thousands) (unaudited) Reconciliation of net cash provided by operating activities to free cash flow (non-GAAP): Nine Months Ended March 30, 2025 March 31, 2024 Net cash provided by operating activities $ 706 $ 100,051 Capital expenditures (32,431 ) (26,482 ) Free cash flow $ (31,725 ) $ 73,569 Expand
Scottish Sun
01-05-2025
- Business
- Scottish Sun
Major supermarket slashes boxes of Celebrations down to just £1.50 – and shoppers are already stocking up for Christmas
SHOPPERS are scrambling to get to a major supermarket as boxes of chocolates have been slashed. So if your purse is feeling tighter than ever before and you're on a mission to cut costs where possible, we've found just the thing. 2 A popular supermarket has slashed boxes of Celebrations to less than £2 Credit: Facebook/Bargain Lovers And you've got a sweet tooth and fancy stocking your cupboards with tasty snacks, then you'll need to check this out. One chocolate fan was left open-mouthed when browsing in her local supermarket, when she noticed that boxes of Celebrations had been massively reduced. Thrilled with her find, which Cathy Pennington spotted in a Tesco store in Altrincham, the bargain hunter took to social media to alert others, leaving many open-mouthed. Posting on BARGAIN LOVERS Poundland, Home Bargains, B&M, Primark, The Range & More, a public Facebook group with 805,900 members, Cathy shared a snap of the cheap treats, which many of us can't get enough of during the festive season. Alongside her post, she simply beamed: 'Tesco £1.50.' The 300g variety boxes of chocolates were once priced at £5.35, but have since been slashed down to only £1.50. In this large box, you'll find all of the iconic favourites - Snickers, Twix, Mars, Malteasers, Milky Way, Bounty, Galaxy and Galaxy Caramel. The milk chocolate treats are still marked at £5.35 online, but if you fancy saving £3.85, then you'll need to move fast. The yellow sticker deal is being sold while stocks last, so you'll have to head down to your local store as quickly as you can to nab this bargain. Cathy's post has clearly impressed many, as it has quickly amassed 237 likes and 32 comments. Chocolate fans rushing to buy Tony's Chocolonely dupe from major supermarket Not only were shoppers impressed with the hefty reduction, but others were tempted to stock up for Christmas - yes, you heard that correctly. One person said: 'That's Christmas sorted.' How to save money on chocolate We all love a bit of chocolate from now and then, but you don't have to break the bank buying your favourite bar. Consumer reporter Sam Walker reveals how to cut costs... Go own brand - if you're not too fussed about flavour and just want to supplant your chocolate cravings, you'll save by going for the supermarket's own brand bars. Shop around - if you've spotted your favourite variety at the supermarket, make sure you check if it's cheaper elsewhere. Websites like let you compare prices on products across all the major chains to see if you're getting the best deal. Look out for yellow stickers - supermarket staff put yellow, and sometimes orange and red, stickers on to products to show they've been reduced. They usually do this if the product is coming to the end of its best-before date or the packaging is slightly damaged. Buy bigger bars - most of the time, but not always, chocolate is cheaper per 100g the larger the bar. So if you've got the appetite, and you were going to buy a hefty amount of chocolate anyway, you might as well go bigger. Another added: 'Beautiful.' A third commented: 'Very nice.' That's Christmas sorted Facebook user Meanwhile, one foodie tagged a loved one and penned: "You missed these." Despite this, at the same time, someone else wrote: 'Probably next week will be expired.' But in response to this, Cathy confidently wrote back and beamed: "Getting eaten tonight anyway.' Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club
