FLWS - Why 1-800-Flowers Stock Fell 20% at the Open Today
Shares of 1-800-Flowers.com (NASDAQ: FLWS) , which sells flowers and other special occasion goods, fell nearly 20% in the first hour of trading on Oct. 29. The big news was earnings, which were actually pretty upbeat.
The online retailer reported fiscal first-quarter 2021 revenue of $283.8 million, up 51.5% year over year. Earnings improved from an adjusted loss of $0.24 per share a year ago to a loss of $0.10 in the current quarter. Despite the bottom line still landing in the red, that's a material improvement. The company beat Wall Street estimates on both the top and bottom lines. This news would normally suggest a stock increase, not a stock drop.
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Why 1-800-Flowers Stock Fell 20% at the Open Today