Tuesday, July 28, 2020
1-800-Flowers.com (FLWS)
Puts The Acquisition To Bed
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.
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Back on track.The company settles its issues with Bed, Bath & Beyond regarding the acquisition of PersonalizationMall.com and amends the purchase price to $245 million from $252 million. We believe that the new price largely adjusts for legal fees. Closing date is set for August 3rd.
Acquisition viewed favorably. The stall in the closing date allowed 1800Flowers to substantially improve its financial position, given strong growth in e-commerce sales, particularly for Harry & David. While PersonalizationMall.com was closed for a period of time due to …
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