FTD Ends Year on High Note
Downers Grove, Ill. Floral retailer FTD Group reported Monday that its revenues for the 2008 fiscal year were 5.4% above the previous year, topping $646 million this year vs. $613 million in fiscal 2007.
However, these results were influenced by the fact that the company’s 2007 fiscal year included only 11 months for its international segment, due to its acquisition of Interflora U.K. on July 31, 2006.
Additionally, international sales were a key driver to overall performance. Revenues at FTD’s international segment, comprised primarily of the Interflora UK business, were up 24.3% in 2008, $178.3 million vs. $143.4 million in 2007.
Conversely, revenues in the domestic consumer segment declined slightly in 2008, falling from $287.6 million in 2007 to $286.4 million. Revenues also slipped in the company’s domestic florist segment, declining from $182 million in 2007 to $181.5 million in fiscal 2008.
In related news, the company also announced earlier on Monday that its stockholders approved a planned merger of FTD with United Online, Inc. (Additional coverage was posted Monday on www.chainstoreage.com.)