1-800-Flowers.com named its next chief financial officer as it detailed a timeline for current CFO Bill Shea’s upcoming retirement.
Shea, who has held the titles of senior vice president, treasurer and CFO at 1-800-Flowers.com since September 2000, plans to officially leave his post on Dec. 29. The company named current chief administrative officer James Langrock to take Shea’s place.
1-800-Flowers.com is No. 50 in the Top 1000. The database is Digital Commerce 360’s ranking of the largest North American online retailers. There, it falls under the Flowers & Gifts category. Digital Commerce 360 projects 1-800-Flowers.com’s online sales will reach $1.61 billion in 2024.
1-800-Flowers.com web sales by year
Bill Shea’s departure as 1-800-Flowers.com’s CFO
“I want to take this opportunity to congratulate Bill on his upcoming retirement and to thank him for his three decades of tireless commitment to our company,” said Jim McCann, chairman and CEO of 1-800-Flowers.com, in a public announcement about the changes. “Bill has been a terrific partner to me and a tremendous asset to our company during a period of tremendous growth and transformation. We wish Bill all the best upon his retirement.”
Shea first joined the retailer in April 1996, becoming vice president of finance and corporate controller. He arrived with 16 years of experience as a certified public accountant at Ernst & Young LLP, according to his company profile.
Incoming 1-800-Flowers.com CFO James Langrock
Langrock, who arrived at 1-800-Flowers.com in April, previously held the CFO title at the meat and snack company Charcuterie Artisans, as well as at The Hain Celestial Group and Monster Worldwide, Inc.
“I also want to congratulate James on his appointment to chief financial officer upon Bill’s retirement,” McCann said. “James has been a great addition to our leadership team since joining the company and brings a great wealth of financial expertise to our company.”
Recent challenges and layoffs at 1-800-Flowers.com
The CFO changes accompanied earnings results on Aug. 29 for 1-800-Flowers.com’s fiscal fourth quarter and end-of-year 2024. The company is currently navigating adverse market conditions, having posted $360.9 million in net revenue for the quarter, down 9.1% from a year earlier. It also reported a $20.9 million net loss for the quarter, down from a $22.5 million loss in the same period a year ago.
Meanwhile, ecommerce revenue alone decreased 14.6% year over year to $35.3 million in the quarter, which ended June 30. It was down 20.5% for the full year to $217.2 million.
“As we turn to Fiscal 2025, with our gross margin recovery well underway, our organization continues to be keenly focused on improving our sales trends by leveraging our Relationship Innovation initiatives,” McCann said in the earnings announcement. “Acknowledging the uncertain consumer environment, we anticipate revenue trends improving as the fiscal year progresses as consumers respond to our newer offerings and services.”
1-800-Flowers.com’s ecommerce platform features a portfolio of other brands under its umbrella. They include 1-800-Baskets.com, Cheryl’s Cookies, Harry & David, Shari’s Berries and others.
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