Thursday, January 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, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A nice tuck-in acquisition. The company announced on January 10th that it purchased the brand, IP assets, customer list and some machinery of Things Remembered, an personalization engraver of gifts, for an undisclosed cash purchase price. We estimate that the purchase price was less than $10 million. The company is not acquiring any Things Remembered stores.
Things Remembered could be the berries. The acquisition of Things Remembered is similar to the company’s successful acquisition of Shari’s Berries in 2019, although we believe that the purchase price is materially less than the $20 million paid for Shari’s Berries. Notably, with Things Remembered, the company gains a customer list of over 1 million.
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