Movers and SHAKERS
Another Quarter Of Enhanced Growth; Raising 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.
Exceeds Q1 expectations. Fiscal Q1 end September 30 revenues increased a strong 51.6% to $283.9 million, above our $263.4 million expectation. The largest upside revenue variance was in its consumer floral division. The company continues to enjoy enhanced revenue growth due to strong ecommerce sales. Adjusted EBITDA from continuing operations was better than expected, $3.2 million versus our estimate of $0.2 million.
Strong consumer floral and ecommerce. Ecommerce revenues increased a strong 85.1% in the quarter, with 1800Flowers' consumer floral brand increasing revenues 55%. We believe that the company expanded its market leading position in the space. Certainly revenue growth is sequentially decelerating from the extraordinary impact that the Covid pandemic has had on its ecommerce business ...
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.