Chris McCann, CEO, 1-800-Flowers
Scott Mlyn | CNBC
1-800-Flowers has reaped the benefits of Americans feeling more sentimental during the Covid pandemic, and making a greater effort send gifts like chocolates and fruit bouquets to loved ones during hard times.
On the heels of reporting the highest quarterly sales and profits in the company’s history, the house of brands is now getting ready for one of its busiest times of year: Valentine’s Day.
In addition to its namesake company, 1-800-Flowers owns a number of other gift-centric businesses including Harry & David, The Popcorn Factory, Cheryl’s Cookies, 1-800-Baskets and Shari’s Berries. Following a recent acquisition of Personalization Mall from Bed Bath & Beyond, 1-800-Flowers Chief Executive Chris McCann said he’s still pursuing his grander strategy to reach new customers and offer them a wider assortment of items online — far beyond flowers.
“When we look at ourselves [today], we view ourselves — yes — as the ultimate gifting platform out there,” McCann said in an interview. “But there’s a vision to be much, much more.”
1-800-Flowers shares are up 77% over the past 12 months, as investors pay the often-overlooked, online retail company more attention. Hope in its growth prospects in the coming years has driven a surge into 2021, with the stock up more than 20% year to date. The company’s market cap has ballooned to $2 billion.
Here’s a deeper dive into how 1-800-Flowers has performed during the health crisis, and why it’s optimistic about the future.