FLWS - 1-800-Flowers Under Pressure; Port Congestion And Labor Deficit Driving Operating Costs
- The trade bottleneck is a result of port congestion and lack of drivers.
- Rising labor costs are putting pressure on margins of companies.
- 1-800-FLOWERS.com was the hardest hit by the increase in labor and transportation costs. The company's EBITDA was $125 million, 34% below our expectation ($190 million).
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1-800-Flowers Under Pressure; Port Congestion And Labor Deficit Driving Operating Costs