Stock Alert: 1-800-FLOWERS.COM Jumps 8% As Full-Year Earnings, Revenue Outlook Raised

(RTTNews) - Shares of 1-800-FLOWERS.COM, Inc. (FLWS) jumped over 8% on Thursday morning after the flower and gourmet food gift service provider lifted its full-year fiscal 2020 outlook for profit, revenue and free cash flow.

FLWS is currently trading at $24.75, up $1.85 or 8.08%, on the Nasdaq.

The company now expects full-year adjusted earnings to grow 75% to 85% from a year ago, compared to its previous guidance of an increase of 15% to 17%. Analysts polled by Thomson Reuters currently estimate earnings of $0.62 per share, indicating a growth of 19%.

The company now expects full year revenues to increase by 16% to 18%, up from a prior guidance of 8% to 9%. Analysts currently estimates revenues of $1.35 billion or growth of 8.40%.

Free Cash Flow for the year is expected to be in a range of $75 to $85 million, up from a previous range of $45 to $50 million.

CEO Chris McCann said, "We saw consumer demand begin to accelerate in late March and continue through April, including a record Easter holiday period. This trend has continued through May, including a very strong Mother's Day holiday, and into the first two weeks of June.

The company also said reduced marketing costs contributed to lifting earnings outlook.