1-800-Flowers.com, Inc. explained

1-800-Flowers.com, Inc.
Type:Public
Traded As:NASDAQ: (Class A)
Russell 2000 Component
Location:Jericho, New York, United States
Industry:Retail
Founder:James McCann
Subsid:Harry & David

1-800-Flowers.com, Inc.[1] is a floral and foods gift retailer and distribution company in the United States. The company's focus, except for Mother's Day and Valentine's Day, is on gift baskets. They also use the name 1-800-Baskets.com.[1] Their use of "coyly self-descriptive telephone numbers" is part of founder James McCann's business model.[2] [3]

History

Founding and early years

The concept of using the word "flowers" within a phoneword was originated by William Alexander in the early 1980s. The phone number, 1-800-356-9377, had been randomly assigned to a trucking brokerage in Wisconsin owned by Curtis Jahn and was used for that company until 1981. In an agreement with Jahn that would later be sharply contested, Granville Semmes and David Snow formed a Louisiana corporation that began to use that number to sell flowers in Louisiana, starting in 1982. The use of the number would trigger a series of lawsuits.[4] Their business struggled and that company was dissolved, with its assets going to investors James Poage and John Davis of Texas. The new corporation struggled financially as well.[4] Its assets were acquired in 1986 by McCann, an owner of several flower shops in the New York City area since 1976, under whom the business saw success and growth.[5]

In 1994, the company bought Conroy's Flowers.[6] The 1800flowers.com domain name was registered on September 1, 1995.[7]

In May 2006, Alpine Confections Inc. brands including Fannie May Confections, Fannie Farmer and Harry London Candies were purchased for $85 million.

In September 2007, it announced a partnership with Martha Stewart Living Omnimedia to produce a line of floral products inspired by Martha Stewart.[8]

According to the Consumerist in 2008, customers reported unknowingly being subscribed to a "membership" called LiveWell after receiving rebate checks from 1-800-Flowers.[9]

It had 4000 employees as of 2008, with a market cap of US$119 million.[10]

In 2009, revenue was US$714 million.[11] Operating income was US$72.2 million,[11] net income was US$98.4 million,[11] assets were valued at US$286 million,[12] and equity was at 134 million.[12]

In March 2017, Fannie May and Harry London were sold to Ferrero SpA for $115 million.[13]

Acquisitions

See also

External links

Notes and References

  1. News: Bringing Bouquets and Gift Baskets Together . Douglas . Quenqua . December 22, 2009 . The New York Times.
  2. News: The Media Business: Advertising -- Addenda; Teleway Shifts Accounts to McCann . Stuart . Elliott . September 24, 1993 . The New York Times.
  3. News: ABOUT LONG ISLAND; At the Other End of the 800 Toll-Free Line . Diane . Ketcham . September 13, 1992 . The New York Times.
  4. http://www.wiwd.uscourts.gov/opinions/pdfs/2000-2002/00-C-446-C-07-23-01.pdf . CURTIS P. JAHN and CAPITOL WAREHOUSING CORPORATION, Plaintiffs, v. 1-800-FLOWERS.COM, INC., FRESH INTELLECTUAL PROPERTIES, INC. and 800-FLOWERS, INC. . July 23, 2001 . District Court for the Western District of Wisconsin . May 12, 2018.
  5. Web site: Libetti . Robert . How 1-800-Flowers Went From A Storefront Flower Shop To A $700 Million Business . . July 19, 2012.
  6. News: The New York Times. From One Little Shop, an 800-Flowers Garden Grows . Richard D. . Smith . January 8, 1995. https://web.archive.org/web/20210922203420/https://www.nytimes.com/1995/01/08/business/from-one-little-shop-an-800flowers-garden-grows.html . September 22, 2021 .
  7. Web site: 2012-11-06. WHOIS page. 2012-11-06. Network Solutions.
  8. Web site: 1-800-Flowers.com, Martha Stewart Living in tie-up . Reuters . 2007-09-20 . 2012-11-06.
  9. Web site: 1800flowers Dupes You Into Signing Up For "LiveWell" For $11.99 Per Month . 2012-11-06 . The Consumerist.
  10. Web site: Company Profile for 1-800-FLOWERS.COM Inc (FLWS) . Zenobank . 2008-10-17.
  11. https://web.archive.org/web/20111108224520/http://www.wikinvest.com/stock/1-800_Flowers.com_(FLWS)/Data/Income_Statement 1-800 Flowers.com (FLWS) annual SEC income statement filing via Wikinvest
  12. https://web.archive.org/web/20111111060649/http://www.wikinvest.com/stock/1-800_Flowers.com_(FLWS)/Data/Balance_Sheet 1-800 Flowers.com (FLWS) annual SEC balance sheet filing via Wikinvest
  13. News: Italian maker of Nutella buys Fannie May. Channick. Robert. March 17, 2017. Chicago Tribune. October 13, 2018. en-US.
  14. News: 1-800-Flowers to buy Cheryl & Co. . Tony . Goins . March 11, 2005 . Columbus Business First . 2022-05-05.
  15. News: Sweet success: Fannie May back after bankruptcy. November 28, 2010 . . Daily Herald. October 13, 2018.
  16. Web site: 1-800-Flowers.com buys DesignPac Gifts . June 1, 2008. Multichannelmerchant.com . en.
  17. Web site: FORM 10-K . 2010. Securities & Exchange Commission . en.
  18. Web site: FORM 10-K . 2013 . Securities & Exchange Commission . en.
  19. Web site: Wassel. Bryan. 5 August 2019. 1-800-FLOWERS.COM Acquires Shari's Berries For $20.5 Million . live. Retailtouchpoints.com. https://web.archive.org/web/20191106073751/https://www.retailtouchpoints.com/features/mergers-and-acquisitions/1-800-flowers-com-acquires-shari-s-berries-for-20-5-million . November 6, 2019 .
  20. Web site: Blair. Adam. 3 August 2020. 1-800-FLOWERS Finalizes $245 Million Personalization Mall Acquisition. live. Retailtouchpoints.com. https://web.archive.org/web/20200928021548/https://retailtouchpoints.com/topics/personalization/1-800-flowers-finalizes-245-million-personalization-mall-acquisition . September 28, 2020 .
  21. Web site: Blank. Christine. 28 October 2021. 1-800-Flowers acquires Vital Choice. live. Seafoodsource.com. https://web.archive.org/web/20220124001758/https://www.seafoodsource.com/news/business-finance/1-800-flowers-acquires-vital-choice . January 24, 2022 .
  22. Web site: 14 January 2022. 1-800-Flowers.com acquires Alice's Table lifestyle operation . live . Retailcustomerexperience.com . https://web.archive.org/web/20220114175045/https://www.retailcustomerexperience.com/news/1-800-flowerscom-acquires-alices-table-lifestyle-operation/ . January 14, 2022 .
  23. Web site: PYMNTS . 2023-05-02 . 1-800-FLOWERS.COM Buys SmartGift to Expand Gifting Capabilities - PYMNTS.com 1-800-FLOWERS.COM Buys SmartGift to Expand Gifting Capabilities . 2023-11-13 . en-US.

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