A market downturn isn't scary for 1-800-Flowers.com Inc. (FLWS) , said CEO Chris McCann to TheStreet.
"I think the economy overall is showing very good signs. That's why I'm not too concerned about a blip in the market," McCann said.
McCann's business is coming up on one of its busiest holidays of the year. Valentine's Day on Wednesday, Feb. 14, is set to offer a strong bump in 1-800-Flowers' sales this winter.
McCann said flowers typically satisfy one to two of customers' ship-to gift occasions in a year. But the average shopper has about 14 to 16 ship-to gift occasions, and the rest that aren't flowers are "invariably" gourmet foods. That's why 1-800-Flowers has expanded its portfolio of brands to offer cookies, gourmet meat chops, popcorn, fresh fruits and more.
"When customers are buying from more than one brand, their average spend per year goes up by 40% to 50%, their retention rate goes up, ultimately their lifetime value. And we just have a deeper relationship with them," McCann said.
Watch the full interview on Youtube