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Friday, August 23, 2019
1-800-Flowers.com (FLWS)
Setting Expectations That Can Be Beat
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, Senior Research Analyst, DOR, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Solid quarter. Overachieves revenue expectations, while meeting our adj. EBITDA (cash flow) estimates. Total company revenues were $259.4 mil. versus our $251.9 mil. estimate. The largest upside variance was in Gourmet Food, $72.5 mil. versus our $66.5 mil. estimate, which benefited from strong underlying 7% revenue growth and a bump from Easter. Adj. EBITDA loss of $2.7 mil. was on target.
- Why the quarter stands out. We would note that the company had a solid quarter in spite of an incremental $2.5 mil. in compensation expenses year over year. Furthermore, with the acquisition of Shari’s Berries in August, the company is expected to…
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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