Why 1-800-Flowers.com Stock Was Down This Week
Shareholders of retailing specialist 1-800-Flowers.com (NASDAQ: FLWS) lost ground to a rising market this week. The e-commerce specialist's stock fell 8% through Thursday trading, according to data provided by S&P Global Market Intelligence, compared to a 2% boost in the S&P 500. The drop added to significant losses for investors, with shares down roughly 70% so far in 2022.
It came as Wall Street digested the retailer's latest earnings report, which showed increasing challenges around growth and profitability.
1-800-Flowers.com is focused on cutting costs to better align its business with today's tough selling environment. Revenue ticked lower in the fiscal fourth quarter, which ended in early July, management said in a filing on Sept. 1.
Source Fool.com
