Investor Alert

New York Markets Open in:

Market Pulse Archives

June 18, 2020, 7:56 a.m. EDT

1-800-Flowers's stock soars toward record territory after profit, revenue growth outlook raised

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    1-800-FLOWERS.COM Inc. Cl A (FLWS)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of 1-800-Flowers.com Inc. /zigman2/quotes/204552624/composite FLWS -0.92% surged 10.4% in premarket trading Thursday, after the flowers seller raised its full-year fiscal 2020 outlook for profit, revenue and free cash flow, as consumer demand started accelerating in late March amid the COVID-19 pandemic. The company now expects adjusted earnings per share for the fiscal year ending in June to grow 75% to 85% from a year ago, compared with previous guidance of a rise 15% to 17%. The FactSet EPS consensus of 62 cents implies 19% growth. The revenue growth guidance was increased to 16% to 18% from 8% to 9%, and the estimate of free cash flow is now $75 million to $85 million, up from $45 million to $50 million. The company said the accelerated consumer demand, which included a record for the Easter holiday period, had continued through May to include a "very strong" Mother's Day and into the first two weeks of June. The company said reduced marketing costs contributed to the increased EPS growth outlook. The stock, which is on track to open above the May 22 record closing price of $24.65, has more than doubled (up 105.0%) over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% has rallied 29.8%.

US : U.S.: Nasdaq
$ 33.46
-0.31 -0.92%
Volume: 770,720
May 10, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$2.19 billion
Rev. per Employee
-44.17 -1.04%
Volume: 2.32B
May 10, 2021 5:40p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.