The Company is a producer and marketer of packaged bakery foods for retail and foodservice customers. Its businesses are organized into two reportable segments: Flowers Bakeries and Flowers Specialty.
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Steady growth internally and through acquisitions - just completed purchase of TastyKake company out of Philadelphia. Company does not distribute nationally yet - currently products mainly in Southeast, MidAtlantic states. Lots of potential for increased distribution and new product acquisitions.
You called it exactly. At recent phone conference re 3rd quarter they described expansion into areas of high population, primarily New England and West Coast. The acquisition of Tasty is having dual benefits: they're adding the TastyKake line to the Flowers areas of distribution and they're introducing Flowers products into Tasty's core distribution areas. They're battling with product costs but it seems that their experience - the CEO has almost 50 years in the business - is allowing them to deal with it about as well as their competitors can. I'm looking for the market to tank short- and long-term so I'm going to do a little bottom trolling and put in a limit order at 15, below the 52-week low. Rationally FLO shouldn't go that low but I think that rationality has very little influence in the market now. I expect a ton of new 52-week lows in the next year.