Tuesday, July 20, 2004

1-800 Flowers.com Stock keeps dropping

It's a great day to see this happen.
1-800-Flowers.com's stock has dropped 31 percent this year, according to Crain's New York Business.

Shares closed at $7.61 on July 16, down from $9 in late June and $12.14 in early December.

The most recent drop in stock happened after the company announced it would not meet sales expectations for the fourth quarter, due to weakness in its home and garden division, Plow & Hearth. "We became a bit complacent and did not focus on adding enough new products,"
Joe Pititto, vice president of investor relations, told Crain's New York Business. "The photography, layout and design of the catalog and Web site need to be upgraded."

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