NEW YORK - 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.
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