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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.
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Michael’s Stores net income soars in Q4
Irving, Texas – Net income at Michael’s Stores Inc. soared 36% to $143 million in the fourth quarter of fiscal 2013 from $105 million in the same quarter the previous year. Net sales grew 2% to $1.55 billion from $1.52 billion and same-store sales rose 4.2%.
Michael’s credited a 53rd week in fiscal 2013, as well as increases in average ticket size and transactions, as driving its fourth quarter performance.