1-800-FLOWERS.COM(R) Board of Directors Increases Stock Repurchase Authorization to $20 Million.WESTBURY, N.Y. -- 1-800-FLOWERS.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FLWS FLWS Force Level Warfare Systems ), the leading florist and retailer of thoughtful gifts for all occasions, today announced that its Board of Directors has approved a doubling of the Company's existing stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. authorization, increasing it to $20 million. The Company reported that, through the end of June, it had spent approximately $9.5 million under its earlier authorization and had purchased approximately 1.3 million shares of its stock. Jim McCann, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "We have a very strong balance sheet and we continue to generate cash in excess of what we believe we need to drive double-digit growth and expand our profitability in both our existing businesses and new business opportunities. As a result, we believe our stock repurchase program is an effective way to deploy cash and build value for our shareholders." The Company said its new authorization does not guarantee any specific number of shares will be repurchased nor does it include any specific time-frame in which purchases will be made. About 1-800-FLOWERS.COM(R) For more than 25 years, 1-800-FLOWERS.COM, Inc. - "Your Florist of Choice(sm)" - has been providing customers across the nation with the freshest flowers and finest selection of plants, gift baskets, gourmet foods and confections, and plush stuffed animals perfect for every occasion. 1-800-FLOWERS.COM(R) offers the best of both worlds: exquisite, florist-designed arrangements individually created by some of the nation's top floral artists and hand-delivered the same day, and spectacular flowers shipped Fresh From Our Growers(sm). Customers can shop 1-800-FLOWERS.COM 24 hours a day, 7 days a week via the phone or Internet (1-800-356-9377 or www.1800flowers.com) or by visiting a Company-operated or franchised store. Gift advisors are available 24/7, and fast and reliable delivery is offered same day, any day. As always, 100 percent satisfaction and freshness is guaranteed. The 1-800-FLOWERS.COM collection of brands also includes home decor and garden merchandise from Plow & Hearth(R) (1-800-627-1712 or www.plowandhearth.com); premium popcorn and specialty treats from The Popcorn Factory(R) (1-800-541-2676 or www.thepopcornfactory.com); exceptional cookies and baked gifts from Cheryl&Co.(R) (1-800-443-8124 or wwwcherylandco.com); gourmet foods from GreatFood.com(R) (www.greatfood.com); children's gifts from HearthSong(R) (www.hearthsong.com) and Magic Cabin(R) (www.magiccabin.com) and wine gifts from the WineTasting wine·tast·ing n. A gathering of people to taste and compare a number of wines. Network(R) (www.ambrosiawine.com and www.winetasting.com). 1-800-FLOWERS.COM, Inc. stock is traded on the NASDAQ market under ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors FLWS. Special Note Regarding Forward-Looking Statements: A number of statements contained in this press release, other than statements of historical fact, are forward-looking within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: the Company's ability to grow its revenues and generate cash in excess of its needs to drive profitable growth; the Company's ability to leverage its operating infrastructure and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company's products. For a more detailed description of these and other risk factors, please refer to the Company's SEC filings including the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. . The Company expressly disclaims any intent or obligation to update any of the forward looking statements made in this release, or in any of its SEC filings, except as may be otherwise stated by the Company. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion