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1-800-Flowers stock gains after issuing rosy fiscal 4Q guidance

The flower and food provider was able to stem its losses at $0.13 per share, narrower than the $0.18 loss analysts had predicted

Bouquet of flowers
Without Easter sales, gift basket revenue fell nearly 4%, but a strong Valentine’s Day holiday boosted consumer floral sales by 6.7%

1-800-Flowers.com Inc (NASDAQ:FLWS) stock is in bloom after posting fiscal third-quarter results Tuesday morning that outgrew expectations and raising its full year guidance.

The flower and food provider was able to stem its losses at $0.13 per share for the quarter ended March 31, narrower than the $0.18 loss that analysts had predicted. Revenue increased 4.1% to $248.4 million against Street expectations of $243.1 million.

Full year EPS target hiked

Shares blossomed more than 11% to $21.63. 

“During the fiscal third quarter, we continued to drive strong revenue growth despite the shift of the Easter holiday into our fiscal fourth quarter, compared with last year when the holiday fell in our fiscal third quarter,” CEO Chris McCann said.

Without Easter sales, gift basket revenue fell nearly 4%, but a strong Valentine’s Day holiday boosted consumer floral sales 6.7%. The company’s BloomNet brand, a sort of wire service for florists, saw revenue growth of 15%.

The New York company also juiced its full year EPS projections to between $0.49 and $0.50, up from between $0.44 and $0.46. Analysts are expecting EPS of $0.45.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: 1-800-Flowers.com Inc

Price: 25.55 USD

NASDAQ:FLWS
Market: NASDAQ
Market Cap: $1.64 billion
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