1-800-Flowers.com Inc. reported net income of $1 million for the fourth quarter, $1.0 million, down from $3.9 million during the same period last year.
The flower and gifts direct marketer generated revenue of $781.7 million for the quarter ended July 2, up 167.6%.
Online revenue rose by 19.2% to $430.3 million.
Management of the Carle Place, NY company attributed the income drop to the costs of acquiring Fannie Mae and to lower-than-expected gross margin growth.
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