Why 1-800-Flowers.com Stock Soared Today
Shares of 1-800-Flowers.com (NASDAQ: FLWS) surged 20% Thursday, following the release of the online gift retailer's fiscal third-quarter results.
The company -- whose brands include Harry & David, Cheryl's Cookies, Moose Munch, and The Popcorn Factory, among others -- saw revenue rocket 70% to $474.2 million. The gains were driven by strong e-commerce growth during the coronavirus pandemic and the addition of PersonalizationMall.com, which 1-800-Flowers.com acquired in August.
"The strong results for the quarter represent a continuation of the momentum that we have been building over the past several years," CEO Chris McCann said in a press release. "In addition, the acceleration provided by COVID has resulted in profound shifts in consumer behavior that our massive database, strong brand portfolio, and leading-edge technology will turn into a new era of growth."
Source Fool.com
