1-800-Flowers Fears Growers Will Favor Pot Over Petals
1-800-Flowers CEO Jim McCann says that despite the company’s efforts to utilize domestic flower growers, the growers in certain states are considering growing marijuana as a potentially more profitable option.
“We have been pushing for domestic production of flowers hard for the last 10 years and having real good success,” McCann told the FOX Business Network’s Maria Bartiromo.
But McCann noted that many flower growers are now tempted by the huge potential revenue boost from growing cannabis instead.
“There are a few states now, I haven’t seen it impact us yet, but we are concerned because some growers with enormous greenhouse facilities in California or Colorado or perhaps in Oregon are saying, ‘Is this the best crop I can grow, these flowers for all these florists around the country? Maybe I can switch to cannabis and get 10 times on the revenue line.’ That’s a big concern of ours.”
Even though...
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