NEW YORK (Associated Press)
- Flower and gift retailer 1-800-Flowers.com said Monday
it launched a Martha Stewart-branded collection of flower
arrangements and plants.
The line by Carle Place, N.Y.-based 1-800-Flowers.com and
New York-based Martha Stewart Living Omnimedia Inc. was
first announced in September.
The flower arrangements utilize seasonal blooms arranged
in containers inspired by Martha Stewart's personal vase
collections. Fresh-cut flowers are available for same-day
delivery through a network of BloomNet Professional Florists.
Next-day delivery is available direct from the grower.
Morgan Joseph analyst James Leahy said the new product line
could be a "shot in the arm" for the relatively
mature U.S. cut-flower market.
"We believe the marketing behind this new product line
(including visibility across the Martha Stewart properties)
should drive sales at 1-800-Flowers and provide a nice source
of growth going forward," said Leahy in a client note
on Monday. He reiterated his "Buy" rating and
$13 price target on the stock.
Shares rose 22 cents, or 2.5 percent, to $9.09 during afternoon
trading. Martha Stewart Living shares rose 36 cents, or
nearly 5 percent, to $7.72. Top of page |
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