1-800-FLOWERS.COM Completes Sale of PersonalizationMall and Things Remembered to PlanetArt
1-800-FLOWERS.COM, Inc. (FLWS) has completed the sale of PersonalizationMall.com and Things Remembered to PlanetArt, LLC. The divestiture finalized a transaction previously announced by the gift and floral retailer.
The sale allows 1-800-FLOWERS.COM, Inc. to simplify operations and concentrate resources on its primary brands. Management plans to direct the transaction proceeds toward paying down corporate debt and funding strategic growth projects designed to increase shareholder value.
Investors will look for updated financial performance expectations in the coming months. The company plans to revise its financial guidance for fiscal 2027 when it reports its first-quarter earnings results.
Key points
- 1-800-FLOWERS.COM, Inc. completed the sale of PersonalizationMall.com and Things Remembered to PlanetArt, LLC.
- Proceeds from the transaction will be used to pay down company debt and invest in core growth initiatives.
- The company expects to update its fiscal 2027 financial guidance when reporting first-quarter financial results.
- Shares of FLWS closed at $2.69 following a 2.18% drop on the day of the announcement.
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How we writeDisclaimerQuestions and answers
What brands did 1-800-FLOWERS sell to PlanetArt?
1-800-FLOWERS.COM, Inc. sold PersonalizationMall.com and Things Remembered to PlanetArt, LLC.
How will 1-800-FLOWERS use the money from the sale?
The proceeds from the sale will be used to lower outstanding debt and fund strategic initiatives to support long-term growth.
When will 1-800-FLOWERS update its financial guidance?
The company plans to provide an update to its fiscal 2027 financial guidance when it releases its fiscal 2027 first-quarter earnings.