The flower and food provider was able to stem its losses at $0.13 per share for the quarter ended March 31, narrower than the $0.18 loss that analysts had predicted. Revenue increased 4.1% to $248.4 million against Street expectations of $243.1 million.
Full year EPS target hiked
Shares blossomed more than 11% to $21.63.
“During the fiscal third quarter, we continued to drive strong revenue growth despite the shift of the Easter holiday into our fiscal fourth quarter, compared with last year when the holiday fell in our fiscal third quarter,” CEO Chris McCann said.
Without Easter sales, gift basket revenue fell nearly 4%, but a strong Valentine’s Day holiday boosted consumer floral sales 6.7%. The company’s BloomNet brand, a sort of wire service for florists, saw revenue growth of 15%.
The New York company also juiced its full year EPS projections to between $0.49 and $0.50, up from between $0.44 and $0.46. Analysts are expecting EPS of $0.45.
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