Friday, August 28, 2020
1-800-Flowers.com (FLWS)
Long Legs in E-Commerce Trends; Raising Price Target
1-800-FLOWERS.COM, Inc. is the leading provider of gourmet and floral gifts for all occasions. For nearly 40 years, 1-800-FLOWERS® has been helping deliver smiles for customers with gifts for every occasion, including fresh flowers, premium, gift-quality fruits, and other gourmet items from Harry & David®, popcorn and specialty treats from The Popcorn Factory®; cookies and baked gifts from Cheryl’s®; premium chocolates and confections from Fannie May®; gift baskets and towers from 1-800-Baskets.com®; premium English muffins and other breakfast treats from Wolferman’s; carved fresh fruit arrangements from FruitBouquets.com; and top quality steaks and chops from Stock Yards®. The Company’s BloomNet® international floral wire service provides a broad range of quality products and value-added services designed to help professional florists grow their businesses profitably.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Blows through Q4 estimates.Q4 revenue and cash flow estimates were over achieved based on strong ecommerce trends. Revenues were $417.6 million, nearly 7% better than our $391.4 million estimate. Cash flow, as measured by Adj. EBITDA, was better than expected as well, $32.5 million versus our estimate of $27.3 million.
Raising fiscal Q1 and full year 2021 estimates. Management provided Q1 guidance that was better than expected, with strong revenue growth of 40% to 45% and break even to slightly positive cash flow, a nice surprise in a typical seasonally unprofitable quarter. We are raising our fiscal 2021 cash flow estimate from …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst
certification and important disclosures included in the full report.
NOTE: investment decisions should not be based upon the content of
this research summary. Proper due diligence is required before
making any investment decision.