1-800-FLOWERS.COM Enters First Amendment to Credit Agreement and Releases Q2 Fiscal 2025 Financial Results

On January 28, 2025, 1-800-FLOWERS.COM, INC. (NASDAQ:FLWS) disclosed in an 8-K filing with the Securities and Exchange Commission that the company, along with some of its U.S. subsidiaries, engaged with lenders and JPMorgan Chase Bank, N.A., as Administrative Agent, to enter into a First Amendment to the Company’s existing Third Amended and Restated Credit Agreement. This amendment, referred to as the “First Amendment,” introduces modifications to the Existing Credit Agreement, providing clarity and adjustments to various sections.

One major change outlined in the First Amendment is the revision to the definition of “Consolidated EBITDA.” It specifies that extraordinary, unusual, or non-recurring cash expenses or losses can now be factored into the calculation of Consolidated EBITDA. Additionally, expenses or losses related to the integration of operational systems or technology upgrades are considered non-recurring. The amendment also includes an extra add-back to Consolidated EBITDA for any restructuring charges, accruals, reserves, or expenses.

Moreover, the adjustment clarifies the treatment of optional prepayments of term loans under the Amended Credit Agreement towards scheduled principal payments. It further revises the definition of “Consolidated Fixed Charges” to specify that applicable scheduled principal debt payments are included in Consolidated Fixed Charges unless offset by prepayments.

The company stated that the lenders and their affiliates might have engaged or could engage in commercial banking and financing transactions with 1-800-FLOWERS.COM, INC. and its affiliates over time.

In a separate note, 1-800-FLOWERS.COM, INC. released its financial results for the Fiscal 2025 Second Quarter, ending on December 29, 2024. The company issued a press release on January 30, 2025, highlighting its financial performance during this period. The press release detailing the results has been included in the filing as Exhibit 99.1.

The report also shared that the registrant has signed the document on its behalf, as per the requirements of the Securities Exchange Act of 1934, with James Langrock, Senior Vice President, Treasurer, and Chief Financial Officer, duly authorized to represent 1-800-FLOWERS.COM, INC.

This summary provided of the key terms of the First Amendment in the Form 8-K filing does not constitute a comprehensive overview and is supplemented by the complete text of the First Amendment attached as Exhibit 10.1. The company continues to navigate its financial operations within the outlined agreements and amendments moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read 1-800-FLOWERS.COM’s 8K filing here.

1-800-FLOWERS.COM Company Profile

1-800-FLOWERS.COM, Inc provides gifts for various occasions in the United States and internationally. It operates through three segments: Consumer Floral & Gifts, Gourmet Foods & Gift Baskets, and BloomNet. The company offers a range of products, including fresh-cut flowers, floral and fruit arrangements, plants, gifts, personalized products, dipped berries, popcorns, gourmet foods and gift baskets, cookies, chocolates, candies, wines, and gift-quality fruits.