1-800-Flowers shareholder praises company's direction, CEO

By Lisa Kerner

Charlotte, N.C., June 27 - 1-800 Flowers.com, Inc. shareholders RLR Capital Partners, LP and Robert L. Rosen sent a letter to chairman and chief executive officer James F. McCann expressing support for the company's management and their initiatives. The letter was included as part of a schedule 13D filing with the Securities and Exchange Commission.

"We have been impressed by the successful launch, highly profitable growth and market positioning of BloomNet, your wire service business. We believe that your acquisition of Fannie May Confections last year is truly a transformative deal and are excited by the strength of the brand, the management team and the manufacturing footprint that come with it," the letter stated.

The letter, signed by Rosen, praised McCann's "extensive enterprise-wide cost-cutting" measures and his efforts to re-examine the poorer performing home and children's group segment.

"As your free cash flow builds over the coming months and years, you will have capital structure and allocation opportunities. We remain confident that you will continue to pursue those opportunities which will most greatly enhance shareholder value," Rosen wrote.

As June 22, RLR Capital Partners and RLR Focus Master Fund, LP beneficially owned 1.307 million class A shares, or about 5.1%, of the Carle Place, N.Y., flower and gift retailer's outstanding stock.

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