SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 22, 2000
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GERALD STEVENS, INC.
(Exact name of registrant as specified in its charter)
Florida 0-05531 65-0971499
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
301 East Las Olas Boulevard, Suite 300, Fort Lauderdale, Florida 33301
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 954/713-5000
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Item 5. Other Events.
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We are filing this Report solely for the purpose of filing the press
release, dated May 22, 2000, included as an exhibit to this Report, relating to
the outlook for our fiscal quarter ending May 31, 2000.
Item 7. Financial Statements and Exhibits.
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Exhibit No. Description
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99.1 Press Release dated May 22, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed by the
undersigned, thereunto duly authorized.
GERALD STEVENS, INC.
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(Registrant)
By /s/ ALBERT J. DETZ
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Albert J. Detz
Senior Vice President and
Chief Financial Officer
Dated: May 24, 2000
3
<PAGE>
GERALD STEVENS, INC.
Current Report on Form 8-K
Exhibit Index
Exhibit No. Description
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99.1 Press Release dated May 22, 2000
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FOR IMMEDIATE RELEASE
Investor Contact:
Al Detz
Chief Financial Officer
Gerald Stevens, Inc.
954-713-5004
[email protected]
Gerald Stevens, Inc. Announces Third Quarter Outlook
FORT LAUDERDALE, FL, May 22, 2000 - Gerald Stevens, Inc. (NASDAQ:
GIFT), the largest specialty retailer and marketer of floral products in the
country, today announced that it expects net income for its fiscal third quarter
ending May 31, 2000, to be at or around the break-even level.
The company reported that revenue for Easter (4/17-23) and Secretary's
Week (4/24-28) was very good and that indications are that revenue for the key
Mother's Day holiday (5/1-14) was excellent. It also reported that sales at its
retail stores for the month of March and the first two weeks of April were lower
than anticipated and that sales at its Calyx & Corolla consumer direct division,
while flat with the prior year period, have been lower than anticipated
throughout the quarter. The Company also announced that it has reduced the
number of acquisitions it plans to complete during its fiscal third quarter and
the remainder of the calendar year.
Gerald R. Geddis, the company's president and chief executive officer,
said "We're extremely pleased with the preliminary results from the Spring
holiday season. Many of our businesses, including our Flower Club and National
Flora order generation businesses, our Florafax wire service and several of our
largest retail chains, appear to have had a record Mother's Day. Unfortunately,
this exceptional performance will likely be negated by weak sales at our retail
stores during the first half of the quarter. We believe a number of factors hurt
sales in March and early-April including changed economic conditions, the
lateness of the Easter holiday and, in the northeast and the midwest, poor
weather. Also, growth at Calyx & Corolla was constrained by increased
competition in the direct-from-grower segment of the industry, particularly on
the Internet.
"We remain as enthusiastic as ever about our long-term strategy,"
Geddis added. "Nevertheless, based on the current environment, we've elected to
slow down our acquisitions. This despite the fact that our pipeline remains as
vibrant as ever. This decision will allow us to further focus our efforts and
our capital on establishing our brand and integrating and growing our existing
businesses, where we continue to make great strides."
<PAGE>
The company will host a conference call to further discuss the matters
in this release at 8:30 AM (EST) on Tuesday, May 23, 2000. The toll-free dial-up
number for the call is 1-800-969-1059. During the conference call management
will answer questions from as many participants on the call as time permits. If
you wish to ask a question on the call, please notify Darren Sylvia, the
company's director of Investor Relations, before 5:00 PM (EST) on Monday, May
22, 2000, at (954) 713-5054.
Gerald Stevens, Inc. (Nasdaq: GIFT) (www.geraldstevens.com) is the largest
specialty retailer and marketer of floral products in the country. The company
owns and operates over 300 retail locations throughout the United States and in
Toronto, Canada. It also owns the Florafax wire service, a national wire service
with over 5,000 member florists covering all 50 states. Additionally, Gerald
Stevens owns National Flora (www.nationalflora.com), a leading national floral
marketing company with premium-placed advertisements in over 1,000 Yellow Page
directories; the Flower Club (www.flowerclub.com), a leading corporate affinity
marketer; and upscale floral company, Calyx & Corolla, Inc.
(www.calyxandcorolla.com), the leading direct marketer of floral products and
the largest direct-from-grower operation in the United States. Gerald Stevens
operates four regional call centers and Internet businesses that take orders 24
hours a day, 7 days a week. The company also owns its own import and sourcing
operation in Miami, Florida.
This announcement contains "forward-looking" information. Future results may
differ from those discussed in this announcement. Some of the factors that could
cause such differences can be found under the headings "Forward-Looking
Statements" and "Risk Factors" in our Annual Report on Form 10-K filed with the
Securities and Exchange Commission on November 24, 1999.
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