1·800·Flowers.com, Inc. (FLWS) – Amends Credit Agreement & Leadership Change


Friday, June 30, 2023

For more than 45 years, 1-800-Flowers.com has offered truly original floral arrangements, plants and unique gifts to celebrate birthdays, anniversaries, everyday occasions, and seasonal holidays, and to deliver comfort during times of grief. Backed by a caring team obsessed with service, 1-800-Flowers.com provides customers thoughtful ways to express themselves and connect with the most important people in their lives. 1-800-Flowers.com is part of the 1-800-FLOWERS.COM, Inc. family of brands. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Enters into a new credit agreement. The amended credit agreement increases the outstanding term loan from $150 million to $200 million, and reduces its revolving credit facility from $250 million to $225 million. The agreement extends the maturities of both the revolving credit facility and term loan until June 27, 2028, which we view favorably. 

Terms of the agreement. The conditions of the term loan stipulate that once optional and mandatory prepayments of the loan are made, the funds may not be reborrowed. Notably, the amended revolving credit facility is subject to an aggregate seasonal borrowing limit of $125 million from January 1 to August 1. However, the revolving credit facility allows for prepaid funds to be reborrowed. The term loan and revolving credit facility mature on June 27, 2028.


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1·800·Flowers.com, Inc. (FLWS) – Margin Improvement Could Even Accelerate


Friday, May 12, 2023

For more than 45 years, 1-800-Flowers.com has offered truly original floral arrangements, plants and unique gifts to celebrate birthdays, anniversaries, everyday occasions, and seasonal holidays, and to deliver comfort during times of grief. Backed by a caring team obsessed with service, 1-800-Flowers.com provides customers thoughtful ways to express themselves and connect with the most important people in their lives. 1-800-Flowers.com is part of the 1-800-FLOWERS.COM, Inc. family of brands. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Margins improve. The company reported $417.6 million in revenue, 1.9% below our estimate of $425.8 million. But, importantly, adj EBITDA in the quarter was negative $5.5 million, beating our estimate of a loss of $13.1 million by 57.5%.  Improved margins in the quarter were attributed to reduced ocean freight costs and some commodity price decreases.

Raises fiscal 2023 adj. EBITDA guidance. Management provided full year fiscal 2023 guidance of revenue down 8% and adj. EBITDA to be in the range of $85 million to $90 million, an increase from its previous guidance of $75 million to $80 million. In addition, the company reiterated that it will exceed $75 million in free cash flow. 


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.