FLWS - 1-800-Flowers.com Soars 18% as COVID-19's Negative Impact Reverses
Shares of 1-800-Flowers.com (NASDAQ: FLWS), a U.S. based provider of food, gift baskets, and floral decorations, jumped as high as 18% Thursday morning, before giving back some of those gains, after the company released a better-than-expected third-quarter fiscal 2020 report.
Total net revenue increased 12.2% to $278.8 million, well above the prior year's $248.4 million, and ahead of analysts' estimates of $264 million. Adjusted net loss was $0.14 per share, which beat analysts' estimates of an $0.18 per-share loss. The healthy top-line growth was driven by all three business segments: gourmet foods and gift baskets increased 27.1% while consumer floral and BloomNet increased 5.4% and 7.9%, respectively.
Image source: Getty Images.