The stock price of the direct order flower and gift retailer plunged 12.04% to $17.03 after the company posted a loss of $8.3 million, or 13 cents a share, albeit somewhat narrower than the 15 cents a share hit expected by analysts surveyed by Zacks Investment Research.
However, 1-800-Flowers.com reported a 12.8% jump in revenue for the quarter to nearly $260 million, up from $229.9 million during the same period a year ago and above the revenue estimate of analysts polled by Zacks by 1.49%.
Thursday's beat down of the shares comes even as the stock has enjoyed a relatively successful 2019, having started the year at $12.18.
In a press statement, Chris McCann, the company's CEO, highlighted the direct order flow and gift company's double-digit revenue growth for the quarter.
The Carle Place, N.Y.-based company's gourmet foods and gift baskets segment saw revenue surge 20% in the quarter compared to the same period a year before, while its consumer floral unit saw a 10% gain, he said.
"We entered fiscal 2019 with a plan to accelerate our revenue growth rate by investing behind our lead Harry & David and 1-800-Flowers.com brands and we are very pleased to have exceeded our growth targets," McCann said.
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