Why 1-800-Flowers Stock Wilted Today
Shareholders of online flower and gift provider 1-800-Flowers.com (NASDAQ: FLWS) would probably appreciate getting a gift basket in the mail today. After it reported its fiscal 2022 third-quarter financial update, 1-800-Flowers' shares tanked this morning. The stock was down 21.6% as of 10:39 a.m. ET.
The gifts retailer reported revenue dropped 1% compared to the prior-year period. The $469.6 million in sales missed analyst estimates by more than $13 million, according to FactSet Research Systems consensus. A loss of $0.32 per share was also worse than expected. Revenue, however, did jump 68.4% above the fiscal 2020 third quarter, which was prior to a pandemic-related sales boost.
Source Fool.com
