1-800-Flowers

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1-800-Flowers
Type Public (NASDAQ: FLWS)
Founded 1976
Headquarters Carle Place, New York, U.S.
Key people Jim McCann CEO
Chris McCann, President
Industry Retail
Products Flowers, Gift Baskets, Plants, Gourmet Food, Collectibles
Revenue $919.4 MillionUSD (2008)
Net income $21 Million USD (2008)
Employees 4,000[1]
Website www.1800flowers.com

1-800-Flowers (NASDAQFLWS) is a major floral and gift, retailer and distribution company, in the United States. It was one of the first retailers to use a 24 x 7 toll-free telephone number and online media and the Internet for direct sales to consumers. The company specializes in retail sales of flowers and gift items within the United States.

The concept of using 1-800-Flowers as a mnemonic phone number originally started with Carl Westcott, who later sold his business to Jim Poage and John Davis in 1982. Their failed business, along with the rights to the toll-free number, were acquired in 1986 by Jim McCann, an owner of several flower shops in the New York City area since 1976.

In the early 1990s, two events helped to catapult 1-800-Flowers into national prominence. First, AT&T created an advertising campaign featuring 1-800-Flowers which was so successful that it was aired repeatedly during the 1992 Summer Olympics. Second, during the first Persian Gulf War, many advertisers were pulling out of CNN, unaware that CNN's coverage would draw viewers. 1-800-Flowers agreed to remain as an advertiser at founder Ted Turner's request.

The company was among the first retailers to partner with online pioneers CompuServe and AOL in 1992 and 1994, respectively. In April 1995, the company was one of the first retailers to establish its own Internet presence. In 1999, the company went public on the Nasdaq stock exchange under the ticker symbol FLWS. It was then that the company officially changed its trademarked name to 1-800-FLOWERS.COM, to match its Web site URL.

The company fulfils its orders in two ways: through a network of florists, and through drop shipment of flowers and gift items. It established a florist-to-florist network, called BloomNet, a floral wire service.

In subsequent years, the company has merged or acquired a number of other gift and retailing companies. In September 2007 the company announced a strategic partnership with Martha Stewart Living Omnimedia to produce a line of floral products inspired by Martha Stewart [2].

The company is headquartered in Carle Place, New York, on Long Island.

Contents

Companies Owned

Fannie May Confections, Inc. - a chocolate and confectionery company based in Chicago, IL. Also owns the brands Harry London Candies and Fannie Farmer Chocolate

Cheryl&Co. - a multi-channel company based in Westerville, OH, selling gourmet cookies

Plow and Hearth - a multi-channel retailer of home decor and outdoor goods based in Madison, VA

WineTasting Network - a distributor for California wineries, based in Napa Valley, CA

Ambrosia Wine - the WineTasting Network's direct-to-consumer wine club business

Hearthsong - a children's toy company

Magic Cabin - a children's toy company

The Popcorn Factory - a catalog retailer of popcorn tins and snacks based in Lake Forrest, IL

Wind and Weather - a direct marketer of weatruments and gifts for the home

Problem Solvers - a Plow & Hearth product line including gadgets and products for everyday living

Bloomnet - an international floraripoffservice

DesignPac Gifts LLC - a designer and maker of gourmet gift baskets

Napco Marketing Corporation - wholesale distributor of floral and plant containers and related supplies for the florist and mass market channels.

Acquisitions

On April 30 2008, 1-800-Flowers purchased DesignPac Gifts LLC, a gourmet gift basket maker for $36 million USD in cash. As a result of the purchase 1-800-Flowers announced a one time earnings hit affecting fiscal fourth quarter earnings.[3]

Sources

References

  1. "Company Profile for 1-800-FLOWERS.COM Inc (FLWS)". http://www.zenobank.com/index.php?symbol=FLWS&page=quotesearch. Retrieved 2008-10-17. 
  2. Announcement of 1-800-FLOWERS and Martha Stewart partnership
  3. On July 21st, 2008, 1-800-Flowers purchased Napco Marketing Corporation, a wholesale distributor of floral and plant containers and related supplies for the florist and mass market channels. The Associated Press (2008-04-30). "1-800-Flowers buys DesignPac for $36 million in cash". Press release. http://money.cnn.com/news/newsfeeds/articles/apwire/d11e0fcf6d249b9fed9bddf57f511dd0.htm. Retrieved 2008-05-06. 

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