Category: Archive

Flower power on Nasdaq

February 16, 2011

By Staff Reporter

By Harry Keaney

Jim McCann is probably hoping stock investors will wake up and smell the roses — his roses.

That’s because 1-800-FLOWERS.COM, Inc., of which McCann, 47, is founder and president, is at present preparing for an initial public offering of shares on the Nasdaq.

The e-commerce and telephonic provider of floral products and gifts has filed a registration statement with the Securities and Exchange Commission in connection with a proposed initial public offering of up to $150 million of its Class A common stock.

The proposed Nasdaq symbol is FLWS.

The company also announced that it has officially changed its name to 1-800-FLOWERS.COM.

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The managing underwriters for the public offering are Goldman, Sachs & Co., Credit Suisse First Boston Corporation, and Wit Capital Corporation.

When available, a written prospectus relating to the offering may be obtained from Goldman, Sachs & Co., 85 Broad St., New York, NY 10004, (212) 902-1000; Credit Suisse First Boston Corporation, 11 Madison Ave., New York, NY., 10010, (212) 325-2000; or Wit Capital Corporation, 826 Broadway, New York, NY 10003, (212) 253-4400.

In addition, an electronic version will be made available on an Internet web site located at http://www.witcapital.com.

With the development of its online business and the strategic acquisition of The Plow & Hearth, Inc., 1-800-FLOWERS.COM has been able to continuously expand its product offerings, which now include home and garden merchandise in addition to an extensive array of fresh-cut and seasonal flowers, plants, floral arrangements and gifts.

McCann is a third-generation Irish American whose family emigrated in the early 1900s from counties Limerick and Armagh. Before becoming an entrepreneur, he was an administrator of the St. John’s Home for Boys in Rockaway, N.Y., and worked with underprivileged children. He started his own business in 1987. Today, his company has an impressive network of telecenters, an interactive web site and a growing chain of international franchises. According to published reports, his business sold more than nine million floral and gift arrangements in 1997 and was worth more than $250 million.

He is author of the 1998 book "Stop and Smell the Roses."

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