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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

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Equity Bottom-Up

1 800 flowers.com inc cl a / Equity Bottom-Up

<ul><li>FLWS recently announced 4QFY24 results that were below our expectations.</li><li>Sales declined 9.5% versus our estimate of a 4.1% decline, and ongoing EBITDA was a loss of $8.8 million versus our estimate for a loss of $4.0 million.</li><li>Gross margin of 38.4% was better than our 38.0% estimate and the 37.1% reported in the year-ago quarter, continuing the favorable margin trends FLWS has been seeing all year.</li></ul>

FLWS recently announced 4QFY24 results that were below our expectations.Sales declined 9.5% versus our estimate of a 4.1% decline, and ongoing EBITDA was a loss of $8.8 million versus our estimate for a loss of $4.0 million.Gross margin of 38.4% was better than our 38.0% estimate and the 37.1% reported in the year-ago quarter, continuing the favorable margin trends FLWS has been seeing all year.

1-800-Flowers.com, Inc - FLWS: Trimming Estimates Following 4QFY24 Release