Latest news with #TomHartnett
Yahoo
09-05-2025
- Business
- Yahoo
1-800-Flowers.com Inc (FLWS) Q3 2025 Earnings Call Highlights: Strategic Shifts Amid Revenue ...
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Inc (NASDAQ:FLWS) introduced a transformative long-term strategy called Celebrations Wave, aimed at enhancing customer engagement and driving growth. The company welcomed Adolfo Vela Gomez as the new CEO, bringing significant experience in leading consumer businesses and digital transformations. Henry Mori joined as the Chief AI and Transformation Officer, bringing expertise in AI-driven initiatives to drive growth and innovation. The company plans to reduce costs by approximately $40 million annually, with $17 million in reductions already executed. Celebrations Wave aims to leverage advanced technologies to create a comprehensive ecosystem for deeper customer relationships, expected to improve financial performance over the next few years. Inc (NASDAQ:FLWS) faced a challenging third quarter with a 12.6% decline in revenue, impacted by macroeconomic pressures and declining consumer confidence. The company experienced a significant decline in its consumer floral and gift segment and gourmet foods and gift basket segment. The implementation of a new order management system was mishandled, resulting in customer dissatisfaction and financial losses. The company recorded a non-cash goodwill and trade name impairment charge, impacting earnings for the period. Due to the evolving macroeconomic landscape and uncertainties, the company decided to withdraw its guidance, reflecting unpredictable external factors. Warning! GuruFocus has detected 5 Warning Signs with FLWS. Q: Can you provide more details on the impact of Valentine's Day and the Easter shift on quarterly sales? A: Jim McCann, Chairman and CEO, explained that Valentine's Day, which fell on a Friday, was favorable, but the softness in January and March affected the quarter. The Easter shift also impacted sales, with revenue down 12.6%, but adjusting for Easter, it would have been down 8.9%. Q: How much did the system implementation issues affect sales and costs? A: Jim McCann acknowledged the implementation of the order management system was a significant error, impacting customer satisfaction and sales. James Lankrock, CFO, noted the issues resulted in a $20+ million top-line impact in Q2 and $11 million in incremental costs over two quarters. Q: What is the timeline for the Celebrations Wave program, and what can be achieved in the first year? A: Jim McCann stated that the focus is on leveraging AI to improve efficiency and customer service. Tom Hartnett, President, added that the initial steps include enhancing relationship management capabilities and personalizing customer experiences, with foundational elements already in place for the forthcoming year. Q: How did the bifurcated market affect revenue, and was there a shift in customer spending? A: Tom Hartnett noted challenges with lower-income consumers reducing discretionary spending, while higher-income customers continued to spend, with average ticket prices increasing due to a broader range of price points. Q: Can you elaborate on the decision to exit retail during the pandemic and the current retail strategy? A: Jim McCann admitted exiting retail was a mistake, as multi-channel approaches are beneficial. The company is now testing holiday stores and year-round locations, with a focus on high-traffic areas and leveraging retail for brand exposure and customer interaction. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
27-03-2025
- Politics
- Yahoo
House advances bill to abolish Charleston County constituent school boards
CHARLESTON COUNTY, S.C. (WCBD) — Charleston County's eight constituent school boards may no longer exist come next school year. A bill that would dissolve the constituent boards on July 1 and transfer their duties to the Charleston County School Board unanimously passed the South Carolina House on Wednesday. Constiuent boards are responsible for considering student transfer requests, drawing attendance zones, and handling student discipline in their respective districts. The boards were formed in 1967 after state lawmakers voted to consolidate eight individual districts into one centralized district with a nine-member board. They are unique to Charleston County in that no other district in the country operates under a similar governance structure. Charleston City Council approves first reading of controversial Radcliffeborough rezoning request Defenders of the current model argue constituent boards are needed, in part, to ensure students' interests from different parts of the county are fairly represented. But, others suggest the boards have become too inefficient and ineffective, especially when it comes to disciplinary matters. District employees, including principals, told lawmakers during a March 7 public meeting that there have been numerous occasions when students who should have been expelled for incidents such as fighting or assaulting teachers were allowed back in school. 'Discipline needs to be applied the same across the board,' said Republican Rep. Tom Hartnett, who serves as chairman of the Charleston County House delegation. 'This would be a step init being equal across the board for everyone [so] that one person is not going to get favoritism from a different constituent school board where the same infraction may have occurred elsewhere, and they've gotten a different outcome.' The bill now resides in the Senate, where it is unlikely to face opposition. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
