Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 30, 2018 | Feb. 01, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | 1 800 FLOWERS COM INC | |
Entity Central Index Key | 1,084,869 | |
Trading Symbol | flws | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Document Type | 10-Q | |
Document Period End Date | Dec. 30, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 35,615,465 | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 28,542,823 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 30, 2018 | Jul. 01, 2018 |
Assets | ||
Cash and cash equivalents | $ 257,685 | $ 147,240 |
Trade receivables, net | 48,400 | 12,935 |
Inventories | 64,006 | 88,825 |
Prepaid and other | 20,108 | 24,021 |
Total current assets | 390,199 | 273,021 |
Property, plant and equipment, net | 160,204 | 163,340 |
Goodwill | 62,590 | 62,590 |
Other intangibles, net | 59,909 | 59,823 |
Other assets | 12,559 | 12,115 |
Total assets | 685,461 | 570,889 |
Liabilities and Stockholders' Equity | ||
Accounts payable | 51,947 | 41,437 |
Accrued expenses | 140,065 | 73,299 |
Current maturities of long-term debt | 11,500 | 10,063 |
Total current liabilities | 203,512 | 124,799 |
Long-term debt | 86,970 | 92,267 |
Deferred tax liabilities | 25,546 | 26,200 |
Other liabilities | 13,360 | 12,719 |
Total liabilities | 329,388 | 255,985 |
Commitments and contingencies (See Note 13) | ||
Stockholders’ equity: | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued | ||
Additional paid-in-capital | 344,769 | 341,783 |
Retained earnings | 125,071 | 73,429 |
Accumulated other comprehensive loss | (261) | (200) |
Treasury stock, at cost, 17,103,738 and 15,978,790 Class A shares at December 30, 2018 and July 1, 2018, respectively, and 5,280,000 Class B shares at December 30, 2018 and July 1, 2018 | (114,371) | (100,966) |
Total stockholders’ equity | 356,073 | 314,904 |
Total liabilities and stockholders’ equity | 685,461 | 570,889 |
Common Class A [Member] | ||
Stockholders’ equity: | ||
Common stock | 527 | 520 |
Common Class B [Member] | ||
Stockholders’ equity: | ||
Common stock | $ 338 | $ 338 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 30, 2018 | Jul. 01, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Common Class A [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 52,749,203 | 52,071,293 |
Treasury stock, shares (in shares) | 17,103,738 | 15,978,790 |
Common Class B [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 33,822,823 | 33,822,823 |
Treasury stock, shares (in shares) | 5,280,000 | 5,280,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Net revenues | $ 571,316 | $ 526,093 | $ 740,812 | $ 683,442 |
Cost of revenues | 316,489 | 290,834 | 417,445 | 380,905 |
Gross profit | 254,827 | 235,259 | 323,367 | 302,537 |
Operating expenses: | ||||
Marketing and sales | 119,664 | 113,771 | 172,618 | 163,493 |
Technology and development | 10,906 | 9,175 | 21,185 | 18,845 |
General and administrative | 21,603 | 19,170 | 42,033 | 38,575 |
Depreciation and amortization | 7,969 | 8,677 | 15,812 | 16,761 |
Total operating expenses | 160,142 | 150,793 | 251,648 | 237,674 |
Operating income | 94,685 | 84,466 | 71,719 | 64,863 |
Interest expense, net | 1,430 | 1,226 | 2,420 | 2,257 |
Other (income) expense, net | 1,266 | (86) | 992 | (346) |
Income before income taxes | 91,989 | 83,326 | 68,307 | 62,952 |
Income tax expense | 23,411 | 12,627 | 16,995 | 5,475 |
Net income | $ 68,578 | $ 70,699 | $ 51,312 | $ 57,477 |
Basic net income per common share (in dollars per share) | $ 1.07 | $ 1.09 | $ 0.80 | $ 0.89 |
Diluted net income per common share (in dollars per share) | $ 1.04 | $ 1.06 | $ 0.77 | $ 0.86 |
Weighted average shares used in the calculation of net income per common share: | ||||
Basic (in shares) | 64,209 | 64,601 | 64,415 | 64,778 |
Diluted (in shares) | 66,136 | 66,782 | 66,483 | 67,037 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Net income | $ 68,578 | $ 70,699 | $ 51,312 | $ 57,477 |
Other comprehensive income (currency translation & other miscellaneous items) | 71 | 26 | 61 | 27 |
Comprehensive income | $ 68,649 | $ 70,725 | $ 51,373 | $ 57,504 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 30, 2018 | Dec. 31, 2017 | |
Operating activities: | ||
Net income | $ 51,312 | $ 57,477 |
Reconciliation of net income to net cash provided by operating activities: | ||
Depreciation and amortization | 15,812 | 16,761 |
Amortization of deferred financing costs | 452 | 480 |
Deferred income taxes | (654) | (12,338) |
Bad debt expense | 582 | 418 |
Stock-based compensation | 2,628 | 2,069 |
Other non-cash items | (501) | (103) |
Changes in operating items: | ||
Trade receivables | (36,047) | (30,769) |
Inventories | 24,819 | 15,295 |
Prepaid and other | 3,159 | (4,272) |
Accounts payable and accrued expenses | 78,361 | 69,269 |
Other assets | (410) | (97) |
Other liabilities | 70 | (24) |
Net cash provided by operating activities | 139,583 | 114,166 |
Investing activities: | ||
Working capital adjustment related to sale of business | (8,500) | |
Capital expenditures, net of non-cash expenditures | (11,786) | (8,864) |
Net cash used in investing activities | (11,786) | (17,364) |
Financing activities: | ||
Acquisition of treasury stock | (13,405) | (11,085) |
Proceeds from exercise of employee stock options | 365 | 15 |
Proceeds from bank borrowings | 30,000 | 30,000 |
Repayment of bank borrowings | (34,312) | (32,875) |
Net cash used in financing activities | (17,352) | (13,945) |
Net change in cash and cash equivalents | 110,445 | 82,857 |
Cash and cash equivalents: | ||
Beginning of period | 147,240 | 149,732 |
End of period | $ 257,685 | $ 232,589 |
Note 1 - Accounting Policies
Note 1 - Accounting Policies | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1 Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by 1 800 10 10 X. not three six December 30, 2018 not may June 30, 2019. 10 July 1, 2018. The Company’s quarterly results may second 50% third fourth first 2018, April 1st, third 2018. April 21st 2019, third fourth Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Revenue Recognition Net revenue is measured based on the amount of consideration that we expect to receive, reduced by discounts and estimates for credits and returns (calculated based upon previous experience and management’s evaluation). Service and outbound shipping charged to customers are recognized at the time the related merchandise revenues are recognized and are included in net revenues. Inbound and outbound shipping and delivery costs are included in cost of revenues. Net revenues exclude sales and other similar taxes collected from customers. A description of our principal revenue generating activities is as follows: ● E-commerce revenues - consumer products sold through our online and telephonic channels. Revenue is recognized when control of the merchandise is transferred to the customer, which generally occurs upon shipment. Payment is typically due prior to the date of shipment. ● Retail revenues - consumer products sold through our retail stores. Revenue is recognized when control of the goods is transferred to the customer, at the point of sale, at which time payment is received. ● Wholesale revenues - products sold to our wholesale customers for subsequent resale. Revenue is recognized when control of the goods is transferred to the customer, in accordance with the terms of the applicable agreement. Payment terms are typically 30 ● BloomNet Services - membership fees as well as other service offerings to florists. Membership and other subscription-based fees are recognized monthly as earned. Services revenues related to orders sent through the floral network are variable, based on either the number of orders or the value of orders, and are recognized in the period in which the orders are delivered. The contracts within BloomNet Services are typically month-to-month and as a result no 30 Deferred revenues Deferred revenues are recorded when the Company has received consideration (i.e. advance payment) before satisfying its performance obligations. As such, customer orders are recorded as deferred revenue prior to shipment or rendering of product or services. Deferred revenues primarily relate to e-commerce orders placed, but not Our total deferred revenue as of July 1, 2018 $13.5 $2.8 $12.3 three six December 30, 2018. December 30, 2018 $28.5 Recently Issued Accounting Pronouncements - Adopted Revenue from Contracts with Customers. May 2014, No. 2014 09, 606” July 2, 2018 $0.3 $1.9 $0.8 $0.8 The comparative information presented in this Form 10 not not three December 30, 2018, not $0.4 $0.3 six December 30, 2018, not $1.2 $0.9 $1.8 December 30, 2018) not 12 Financial Instruments – Recognition and Measurement. January 2016, No. 2016 01, No. 2018 03, February 2018. no not no July 2, 2018. not Statement of Cash Flows. June 2016, 2016 15, 230 2016 15 July 2, 2018. not Business Combinations – Definition of a Business. January 2017, No. 2017 01, 805 2017 01 July 2, 2018. not Nonfinancial Assets – Derecognition. February 2017, No. 2017 05, 2017 05 July 2, 2018. not Stock Compensation – Modification Accounting. May 2017, No. 2017 09, 718 not July 2, 2018. not Cloud Computing Arrangements – Implementation Costs August 2018, No. 2018 15, 350 40 not July 2, 2018. not Recently Issued Accounting Pronouncements – Not Leases. February 2016, No. 2016 02, 842 June 28, 2020. Financial Instruments – Measurement of Credit Losses. June 2016, No. 2016 13, 326 2016 13 2016 13 July 4, 2021, Goodwill – Impairment Test January 2017, No. 2017 04, 350 two 2017 04, July 4, 2021, not U.S. Tax Reform On December 22, 2017, 35% 21%. July 1, 2018, 28% 2018, 21% Shortly after the Tax Act was enacted, the SEC staff issued Staff Accounting Bulletin No. 118, 118” 118 no one may 740. 118 second 2019, no |
Note 2 - Net Income Per Common
Note 2 - Net Income Per Common Share | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 2 The following table sets forth the computation of basic and diluted net income per common share: Three Months Ended Six Months Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands, except per share data) Numerator: Net income $ 68,578 $ 70,699 $ 51,312 $ 57,477 Denominator: Weighted average shares outstanding 64,209 64,601 64,415 64,778 Effect of dilutive securities: Employee stock options 1,415 1,549 1,476 1,528 Employee restricted stock awards 512 632 592 731 1,927 2,181 2,068 2,259 Adjusted weighted-average shares and assumed conversions 66,136 66,782 66,483 67,037 Net income per common share Basic $ 1.07 $ 1.09 $ 0.80 $ 0.89 Diluted $ 1.04 $ 1.06 $ 0.77 $ 0.86 |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 3 The Company has a Long Term Incentive and Share Award Plan, which is more fully described in Note 12 13 10 July 1, 2018, The amounts of stock-based compensation expense recognized in the periods presented are as follows: Three Months Ended Six Months Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Stock options $ 78 $ 107 $ 183 $ 215 Restricted stock 1,595 861 2,445 1,854 Total 1,673 968 2,628 2,069 Deferred income tax benefit 395 206 654 592 Stock-based compensation expense, net $ 1,278 $ 762 $ 1,974 $ 1,477 Stock-based compensation is recorded within the following line items of operating expenses: Three Months Ended Six Months Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Marketing and sales $ 731 $ 258 $ 986 $ 556 Technology and development 105 51 156 111 General and administrative 837 659 1,486 1,402 Total $ 1,673 $ 968 $ 2,628 $ 2,069 Stock based compensation expense has not Note 12 Stock Options The following table summarizes stock option activity during the six December 30, 2018: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (000s) Outstanding at July 1, 2018 1,968,234 $ 2.35 Granted - $ - Exercised (268,234 ) $ 2.33 Forfeited - $ - Outstanding at December 30, 2018 1,700,000 $ 2.35 2.4 $ 16,265 Exercisable at December 30, 2018 1,562,000 $ 2.27 2.4 $ 15,068 As of December 30, 2018, not $0.2 0.9 Restricted Stock The Company grants shares of Common Stock to its employees that are subject to restrictions on transfer and risk of forfeiture until fulfillment of applicable service and performance conditions and, in certain cases, holding periods (Restricted Stock). The following table summarizes the activity of non-vested restricted stock awards during the six December 30, 2018: Shares Weighted Average Grant Date Fair Value Non-vested at July 1, 2018 968,273 $ 7.70 Granted 911,089 $ 12.49 Vested (409,676 ) $ 7.90 Forfeited (8,180 ) $ 9.45 Non-vested at December 30, 2018 1,461,506 $ 10.62 The fair value of non-vested shares is determined based on the closing stock price on the grant date. As of December 30, 2018, $13.2 2.3 |
Note 4 - Disposition
Note 4 - Disposition | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 4 On March 15, 2017, May May May”) $115.0 May 30, 2017, August 2017, $8.5 first 2018. $14.6 fourth 2017. The Company and Ferrero also entered into a transition services agreement, as amended, whereby the Company will provide certain post-closing services to Ferrero and Fannie May 20 May, May |
Note 5 - Inventory
Note 5 - Inventory | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 5 The Company’s inventory, stated at cost, which is not December 30, 2018 July 1, 2018 (in thousands) Finished goods $ 31,613 $ 33,930 Work-in-process 6,845 17,575 Raw materials 25,548 37,320 Total inventory $ 64,006 $ 88,825 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 The following table presents goodwill by segment and the related change in the net carrying amount: 1-800-Flowers.com Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Total (in thousands) Balance at December 30, 2018 and July 1, 2018 $ 17,441 $ - $ 45,149 $ 62,590 The Company’s other intangible assets consist of the following: December 30, 2018 July 1, 2018 Amortization Period Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net (in years) Intangible assets with determinable lives: Investment in licenses 14-16 $ 7,420 $ 6,095 $ 1,325 $ 7,420 $ 6,042 $ 1,378 Customer lists 3-10 12,184 9,607 2,577 12,184 9,354 2,830 Other 5-14 2,946 2,230 716 2,946 2,172 774 Total intangible assets with determinable lives 22,550 17,932 4,618 22,550 17,568 4,982 Trademarks with indefinite lives 55,291 - 55,291 54,841 - 54,841 Total identifiable intangible assets $ 77,841 $ 17,932 $ 59,909 $ 77,391 $ 17,568 $ 59,823 Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not 2019 $0.3 2020 $0.6 2021 $0.6 2022 $0.5 2023 $0.5 $2.1 |
Note 7 - Investments
Note 7 - Investments | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Note 7 Equity investments accounted for under the equity method The Company has certain investments in non-marketable equity instruments of private companies. The Company accounts for these investments using the equity method if they provide the Company the ability to exercise significant influence, but not 20% 50%, The Company’s equity method investment is comprised of an interest in Flores Online, a Sao Paulo, Brazil based internet floral and gift retailer, that the Company originally acquired on May 31, 2012. 24.9% $0.5 September 30, 2018 $0.6 July 1, 2018, three six December 30, 2018 December 31, 2017 $ 0.1 December 31, 2017, 5% 5% $0.1 $0.2 December 31, 2017. Equity investments without a readily determinable fair value Investments in non-marketable equity instruments of private companies, where the Company does not $ 1.7 December 30, 2018 July 1, 2018. Equity investments with a readily determinable fair value The Company also holds certain trading securities associated with its Non-Qualified Deferred Compensation Plan (“NQDC Plan”). These investments are measured using quoted market prices at the reporting date and are included within the “Other assets” line item in the consolidated balance sheets (see Note 10 |
Note 8 - Debt
Note 8 - Debt | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8 The Company’s current and long-term debt consists of the following: December 30, 2018 July 1, 2018 (in thousands) Revolver (1) $ - $ - Term Loan (1) 100,625 104,938 Deferred financing costs (2,155 ) (2,608 ) Total debt 98,470 102,330 Less: current debt 11,500 10,063 Long-term debt $ 86,970 $ 92,267 ( 1 December 23, 2016, “2016 2016 September 30, 2014 $115.0 two December 23, 2021. 19 April 2, 2017, 5% 7.5% 10% 12.5% 15% $61.8 $200 $100 January 1 August 1, may For each borrowing under the 2016 may 1 0.75% 1.5%, 0.5%, 1% 2 1.75% 2.5%, 2016 December 30, 2018. 2016 Future principal payments under the Term Loan are as follows: $5.8 2019, $12.9 2020, $15.8 2021, $66.1 2022. |
Note 9 - Property, Plant and Eq
Note 9 - Property, Plant and Equipment | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 9 The Company’s property, plant and equipment consists of the following: Dec ember 30, 2018 July 1, 2018 (in thousands) Land $ 30,789 $ 30,789 Orchards in production and land improvements 11,268 10,962 Building and building improvements 59,108 58,450 Leasehold improvements 13,422 12,997 Production equipment and furniture and fixtures 57,471 53,066 Computer and telecommunication equipment 49,232 46,925 Software 122,346 115,944 Capital projects in progress - orchards 8,058 10,789 Property, plant and equipment, gross 351,694 339,922 Accumulated depreciation and amortization (191,490 ) (176,582 ) Property, plant and equipment, net $ 160,204 $ 163,340 |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurements | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10 Cash and cash equivalents, trade and other receivables, prepaids, accounts payable and accrued expenses are reflected in the consolidated balance sheets at carrying value, which approximates fair value due to the short-term nature of these instruments. Although no may may not may Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. The authoritative guidance for fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 3 three Level 1 Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2 Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not Level 3 Valuations based on inputs that are supported by little or no The following table presents by level, within the fair value hierarchy, financial assets and liabilities measured at fair value on a recurring basis: Carrying Value Fair Value Measurements Assets (Liabilities) Level 1 Level 2 Level 3 (in thousands) Assets (liabilities) as of December 30, 2018: Trading securities held in a “rabbi trust” (1) $ 9,938 $ 9,938 $ - $ - $ 9,938 $ 9,938 $ - $ - Assets (liabilities) as of July 1, 2018: Trading securities held in a “rabbi trust” (1) $ 9,368 $ 9,368 $ - $ - $ 9,368 $ 9,368 $ - $ - ( 1 The Company has established a Non-qualified Deferred Compensation Plan for certain members of senior management. Deferred compensation plan assets are invested in mutual funds held in a “rabbi trust,” which is restricted for payment to participants of the NQDC Plan. Trading securities held in a rabbi trust are measured using quoted market prices at the reporting date and are included in the “Other assets” line item, with the corresponding liability included in the “Other liabilities” line item in the consolidated balance sheets. |
Note 11 - Income Taxes
Note 11 - Income Taxes | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 11 At the end of each interim reporting period, the Company estimates its effective income tax rate expected to be applicable for the full year. This estimate is used in providing for income taxes on a year-to-date basis and may three six December 30, 2018 25.4% 24.9% 15.2% 8.7% 2019 21% 2018 28.0% $12.2 $0.18 second 2018, 21% Note 1 The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, and various foreign countries. The Company is currently undergoing its U.S. federal examination for fiscal 2016, 2015 2017 2013. 2013 The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At December 30, 2018, $0.6 $0.1 twelve |
Note 12 - Business Segments
Note 12 - Business Segments | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 12 The Company’s management reviews the results of its operations by the following three • 1 800 • BloomNet Wire Service, and • Gourmet Food & Gift Baskets Segment performance is measured based on contribution margin, which includes only the direct controllable revenue and operating expenses of the segments. As such, management’s measure of profitability for these segments does not not Three Months Ended Six Months Ended Net Revenues: December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Segment Net Revenues: 1-800-Flowers.com Consumer Floral $ 108,106 $ 100,064 $ 193,182 $ 176,674 BloomNet Wire Service 23,435 20,375 47,428 40,139 Gourmet Food & Gift Baskets 440,003 405,964 500,521 466,950 Corporate 315 317 582 587 Intercompany eliminations (543 ) (627 ) (901 ) (908 ) Total net revenues $ 571,316 $ 526,093 $ 740,812 $ 683,442 Three Months Ended Six Months Ended Operating Income: December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Segment Contribution Margin: 1-800-Flowers.com Consumer Floral $ 9,808 $ 10,791 $ 17,303 $ 17,762 BloomNet Wire Service 8,257 7,692 15,895 14,393 Gourmet Food & Gift Baskets 105,514 93,496 96,393 88,509 Segment Contribution Margin Subtotal 123,579 111,979 129,591 120,664 Corporate (a) (20,925 ) (18,836 ) (42,060 ) (39,040 ) Depreciation and amortization (7,969 ) (8,677 ) (15,812 ) (16,761 ) Operating income $ 94,685 $ 84,466 $ 71,719 $ 64,863 (a) Corporate expenses consist of the Company’s enterprise shared service cost centers, and include, among other items, Information Technology, Human Resources, Accounting and Finance, Legal, Executive and Customer Service Center functions, as well as Stock-Based Compensation. In order to leverage the Company’s infrastructure, these functions are operated under a centralized management platform, providing support services throughout the organization. The costs of these functions, other than those of the Customer Service Center, which are allocated directly to the above categories based upon usage, are included within corporate expenses as they are not The following tables represent a disaggregation of revenue from contracts with customers, by channel: Three Months Ended Three Months Ended December 30, 2018 December 31, 2017 Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Net revenues E-commerce $ 106,300 $ - $ 352,521 $ 458,821 $ 98,125 $ - $ 326,007 $ 424,132 Retail 1,063 - 24,971 26,034 1,056 - 24,852 25,908 Wholesale - 5,793 62,511 68,304 - 6,012 55,105 61,117 BloomNet services - 17,642 - 17,642 - 14,363 - 14,363 Franchise/Other 743 - - 743 883 - - 883 Corporate - - - 315 - - - 317 Eliminations - - - (543 ) - - - (627 ) Net revenues $ 108,106 $ 23,435 $ 440,003 $ 571,316 $ 100,064 $ 20,375 $ 405,964 $ 526,093 Six Months Ended Six Months Ended December 30, 2018 December 31, 2017 Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Net revenues E-commerce $ 189,750 $ - $ 386,771 $ 576,521 $ 173,037 $ - $ 359,866 $ 532,903 Retail 1,924 - 32,750 34,674 1,927 - 32,945 34,872 Wholesale - 13,926 81,000 94,926 - 13,366 74,139 87,505 Bloomnet services - 33,502 - 33,502 - 26,773 - 26,773 Franchise/Other 1,508 - - 1,508 1,710 - - 1,710 Corporate - - - 582 - - - 587 Eliminations - - - (901 ) - - - (908 ) Net revenues $ 193,182 $ 47,428 $ 500,521 $ 740,812 $ 176,674 $ 40,139 $ 466,950 $ 683,442 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Dec. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13 Litigation There are various claims, lawsuits, and pending actions against the Company and its subsidiaries incident to the operations of its businesses. It is the opinion of management, after consultation with counsel, that the ultimate resolution of such claims, lawsuits and pending actions will not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 30, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by 1 800 10 10 X. not three six December 30, 2018 not may June 30, 2019. 10 July 1, 2018. The Company’s quarterly results may second 50% third fourth first 2018, April 1st, third 2018. April 21st 2019, third fourth |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Net revenue is measured based on the amount of consideration that we expect to receive, reduced by discounts and estimates for credits and returns (calculated based upon previous experience and management’s evaluation). Service and outbound shipping charged to customers are recognized at the time the related merchandise revenues are recognized and are included in net revenues. Inbound and outbound shipping and delivery costs are included in cost of revenues. Net revenues exclude sales and other similar taxes collected from customers. A description of our principal revenue generating activities is as follows: ● E-commerce revenues - consumer products sold through our online and telephonic channels. Revenue is recognized when control of the merchandise is transferred to the customer, which generally occurs upon shipment. Payment is typically due prior to the date of shipment. ● Retail revenues - consumer products sold through our retail stores. Revenue is recognized when control of the goods is transferred to the customer, at the point of sale, at which time payment is received. ● Wholesale revenues - products sold to our wholesale customers for subsequent resale. Revenue is recognized when control of the goods is transferred to the customer, in accordance with the terms of the applicable agreement. Payment terms are typically 30 ● BloomNet Services - membership fees as well as other service offerings to florists. Membership and other subscription-based fees are recognized monthly as earned. Services revenues related to orders sent through the floral network are variable, based on either the number of orders or the value of orders, and are recognized in the period in which the orders are delivered. The contracts within BloomNet Services are typically month-to-month and as a result no 30 Deferred revenues Deferred revenues are recorded when the Company has received consideration (i.e. advance payment) before satisfying its performance obligations. As such, customer orders are recorded as deferred revenue prior to shipment or rendering of product or services. Deferred revenues primarily relate to e-commerce orders placed, but not Our total deferred revenue as of July 1, 2018 $13.5 $2.8 $12.3 three six December 30, 2018. December 30, 2018 $28.5 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements - Adopted Revenue from Contracts with Customers. May 2014, No. 2014 09, 606” July 2, 2018 $0.3 $1.9 $0.8 $0.8 The comparative information presented in this Form 10 not not three December 30, 2018, not $0.4 $0.3 six December 30, 2018, not $1.2 $0.9 $1.8 December 30, 2018) not 12 Financial Instruments – Recognition and Measurement. January 2016, No. 2016 01, No. 2018 03, February 2018. no not no July 2, 2018. not Statement of Cash Flows. June 2016, 2016 15, 230 2016 15 July 2, 2018. not Business Combinations – Definition of a Business. January 2017, No. 2017 01, 805 2017 01 July 2, 2018. not Nonfinancial Assets – Derecognition. February 2017, No. 2017 05, 2017 05 July 2, 2018. not Stock Compensation – Modification Accounting. May 2017, No. 2017 09, 718 not July 2, 2018. not Cloud Computing Arrangements – Implementation Costs August 2018, No. 2018 15, 350 40 not July 2, 2018. not Recently Issued Accounting Pronouncements – Not Leases. February 2016, No. 2016 02, 842 June 28, 2020. Financial Instruments – Measurement of Credit Losses. June 2016, No. 2016 13, 326 2016 13 2016 13 July 4, 2021, Goodwill – Impairment Test January 2017, No. 2017 04, 350 two 2017 04, July 4, 2021, not U.S. Tax Reform On December 22, 2017, 35% 21%. July 1, 2018, 28% 2018, 21% Shortly after the Tax Act was enacted, the SEC staff issued Staff Accounting Bulletin No. 118, 118” 118 no one may 740. 118 second 2019, no |
Note 2 - Net Income Per Commo_2
Note 2 - Net Income Per Common Share (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands, except per share data) Numerator: Net income $ 68,578 $ 70,699 $ 51,312 $ 57,477 Denominator: Weighted average shares outstanding 64,209 64,601 64,415 64,778 Effect of dilutive securities: Employee stock options 1,415 1,549 1,476 1,528 Employee restricted stock awards 512 632 592 731 1,927 2,181 2,068 2,259 Adjusted weighted-average shares and assumed conversions 66,136 66,782 66,483 67,037 Net income per common share Basic $ 1.07 $ 1.09 $ 0.80 $ 0.89 Diluted $ 1.04 $ 1.06 $ 0.77 $ 0.86 |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | Three Months Ended Six Months Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Stock options $ 78 $ 107 $ 183 $ 215 Restricted stock 1,595 861 2,445 1,854 Total 1,673 968 2,628 2,069 Deferred income tax benefit 395 206 654 592 Stock-based compensation expense, net $ 1,278 $ 762 $ 1,974 $ 1,477 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Six Months Ended December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Marketing and sales $ 731 $ 258 $ 986 $ 556 Technology and development 105 51 156 111 General and administrative 837 659 1,486 1,402 Total $ 1,673 $ 968 $ 2,628 $ 2,069 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (000s) Outstanding at July 1, 2018 1,968,234 $ 2.35 Granted - $ - Exercised (268,234 ) $ 2.33 Forfeited - $ - Outstanding at December 30, 2018 1,700,000 $ 2.35 2.4 $ 16,265 Exercisable at December 30, 2018 1,562,000 $ 2.27 2.4 $ 15,068 |
Schedule of Nonvested Share Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Non-vested at July 1, 2018 968,273 $ 7.70 Granted 911,089 $ 12.49 Vested (409,676 ) $ 7.90 Forfeited (8,180 ) $ 9.45 Non-vested at December 30, 2018 1,461,506 $ 10.62 |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 30, 2018 July 1, 2018 (in thousands) Finished goods $ 31,613 $ 33,930 Work-in-process 6,845 17,575 Raw materials 25,548 37,320 Total inventory $ 64,006 $ 88,825 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | 1-800-Flowers.com Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Total (in thousands) Balance at December 30, 2018 and July 1, 2018 $ 17,441 $ - $ 45,149 $ 62,590 |
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block] | December 30, 2018 July 1, 2018 Amortization Period Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net (in years) Intangible assets with determinable lives: Investment in licenses 14-16 $ 7,420 $ 6,095 $ 1,325 $ 7,420 $ 6,042 $ 1,378 Customer lists 3-10 12,184 9,607 2,577 12,184 9,354 2,830 Other 5-14 2,946 2,230 716 2,946 2,172 774 Total intangible assets with determinable lives 22,550 17,932 4,618 22,550 17,568 4,982 Trademarks with indefinite lives 55,291 - 55,291 54,841 - 54,841 Total identifiable intangible assets $ 77,841 $ 17,932 $ 59,909 $ 77,391 $ 17,568 $ 59,823 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 30, 2018 July 1, 2018 (in thousands) Revolver (1) $ - $ - Term Loan (1) 100,625 104,938 Deferred financing costs (2,155 ) (2,608 ) Total debt 98,470 102,330 Less: current debt 11,500 10,063 Long-term debt $ 86,970 $ 92,267 |
Note 9 - Property, Plant and _2
Note 9 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Dec ember 30, 2018 July 1, 2018 (in thousands) Land $ 30,789 $ 30,789 Orchards in production and land improvements 11,268 10,962 Building and building improvements 59,108 58,450 Leasehold improvements 13,422 12,997 Production equipment and furniture and fixtures 57,471 53,066 Computer and telecommunication equipment 49,232 46,925 Software 122,346 115,944 Capital projects in progress - orchards 8,058 10,789 Property, plant and equipment, gross 351,694 339,922 Accumulated depreciation and amortization (191,490 ) (176,582 ) Property, plant and equipment, net $ 160,204 $ 163,340 |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurements (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Carrying Value Fair Value Measurements Assets (Liabilities) Level 1 Level 2 Level 3 (in thousands) Assets (liabilities) as of December 30, 2018: Trading securities held in a “rabbi trust” (1) $ 9,938 $ 9,938 $ - $ - $ 9,938 $ 9,938 $ - $ - Assets (liabilities) as of July 1, 2018: Trading securities held in a “rabbi trust” (1) $ 9,368 $ 9,368 $ - $ - $ 9,368 $ 9,368 $ - $ - |
Note 12 - Business Segments (Ta
Note 12 - Business Segments (Tables) | 6 Months Ended |
Dec. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Six Months Ended Net Revenues: December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Segment Net Revenues: 1-800-Flowers.com Consumer Floral $ 108,106 $ 100,064 $ 193,182 $ 176,674 BloomNet Wire Service 23,435 20,375 47,428 40,139 Gourmet Food & Gift Baskets 440,003 405,964 500,521 466,950 Corporate 315 317 582 587 Intercompany eliminations (543 ) (627 ) (901 ) (908 ) Total net revenues $ 571,316 $ 526,093 $ 740,812 $ 683,442 Three Months Ended Six Months Ended Operating Income: December 30, 2018 December 31, 2017 December 30, 2018 December 31, 2017 (in thousands) Segment Contribution Margin: 1-800-Flowers.com Consumer Floral $ 9,808 $ 10,791 $ 17,303 $ 17,762 BloomNet Wire Service 8,257 7,692 15,895 14,393 Gourmet Food & Gift Baskets 105,514 93,496 96,393 88,509 Segment Contribution Margin Subtotal 123,579 111,979 129,591 120,664 Corporate (a) (20,925 ) (18,836 ) (42,060 ) (39,040 ) Depreciation and amortization (7,969 ) (8,677 ) (15,812 ) (16,761 ) Operating income $ 94,685 $ 84,466 $ 71,719 $ 64,863 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Three Months Ended December 30, 2018 December 31, 2017 Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Net revenues E-commerce $ 106,300 $ - $ 352,521 $ 458,821 $ 98,125 $ - $ 326,007 $ 424,132 Retail 1,063 - 24,971 26,034 1,056 - 24,852 25,908 Wholesale - 5,793 62,511 68,304 - 6,012 55,105 61,117 BloomNet services - 17,642 - 17,642 - 14,363 - 14,363 Franchise/Other 743 - - 743 883 - - 883 Corporate - - - 315 - - - 317 Eliminations - - - (543 ) - - - (627 ) Net revenues $ 108,106 $ 23,435 $ 440,003 $ 571,316 $ 100,064 $ 20,375 $ 405,964 $ 526,093 Six Months Ended Six Months Ended December 30, 2018 December 31, 2017 Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food & Gift Baskets Consolidated Net revenues E-commerce $ 189,750 $ - $ 386,771 $ 576,521 $ 173,037 $ - $ 359,866 $ 532,903 Retail 1,924 - 32,750 34,674 1,927 - 32,945 34,872 Wholesale - 13,926 81,000 94,926 - 13,366 74,139 87,505 Bloomnet services - 33,502 - 33,502 - 26,773 - 26,773 Franchise/Other 1,508 - - 1,508 1,710 - - 1,710 Corporate - - - 582 - - - 587 Eliminations - - - (901 ) - - - (908 ) Net revenues $ 193,182 $ 47,428 $ 500,521 $ 740,812 $ 176,674 $ 40,139 $ 466,950 $ 683,442 |
Note 1 - Accounting Policies (D
Note 1 - Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2019 | Jul. 01, 2018 | Jul. 02, 2018 | |
Contract with Customer, Liability, Current | $ 28,500 | $ 28,500 | $ 13,500 | ||||
Contract with Customer, Liability, Revenue Recognized | 2,800 | 12,300 | |||||
Gift Card Liability, Current | 1,800 | 1,800 | |||||
Accrued Liabilities, Current, Total | 140,065 | 140,065 | $ 73,299 | ||||
Selling and Marketing Expense, Total | 119,664 | $ 113,771 | 172,618 | $ 163,493 | |||
Net Income (Loss) Attributable to Parent, Total | 68,578 | $ 70,699 | 51,312 | $ 57,477 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 28.00% | ||||||
Scenario, Forecast [Member] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||
Accounting Standards Update 2014-09 [Member] | |||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 300 | ||||||
Gift Card Liability, Current | (1,900) | ||||||
Prepaid Expense, Catalog Costs | (800) | ||||||
Accrued Liabilities, Current, Total | $ 800 | ||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||
Selling and Marketing Expense, Total | 400 | 1,200 | |||||
Net Income (Loss) Attributable to Parent, Total | $ 300 | $ 900 |
Note 2 - Net Income Per Commo_3
Note 2 - Net Income Per Common Share - Computation of Basic and Diluted Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Net income | $ 68,578 | $ 70,699 | $ 51,312 | $ 57,477 |
Weighted average shares outstanding (in shares) | 64,209 | 64,601 | 64,415 | 64,778 |
Effect of dilutive securities (in shares) | 1,927 | 2,181 | 2,068 | 2,259 |
Adjusted weighted-average shares and assumed conversions (in shares) | 66,136 | 66,782 | 66,483 | 67,037 |
Basic (in dollars per share) | $ 1.07 | $ 1.09 | $ 0.80 | $ 0.89 |
Diluted (in dollars per share) | $ 1.04 | $ 1.06 | $ 0.77 | $ 0.86 |
Employee Stock Option [Member] | ||||
Effect of dilutive securities (in shares) | 1,415 | 1,549 | 1,476 | 1,528 |
Restricted Stock [Member] | ||||
Effect of dilutive securities (in shares) | 512 | 632 | 592 | 731 |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) $ in Millions | 6 Months Ended |
Dec. 30, 2018USD ($) | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 328 days |
Employee Stock Option [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 0.2 |
Restricted Stock [Member] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 13.2 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 109 days |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Stock-based Compensation Expense Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Allocated share-based compensation expense | $ 1,673 | $ 968 | $ 2,628 | $ 2,069 |
Deferred income tax benefit | 395 | 206 | 654 | 592 |
Allocated share-based compensation expense, net | 1,278 | 762 | 1,974 | 1,477 |
Employee Stock Option [Member] | ||||
Allocated share-based compensation expense | 78 | 107 | 183 | 215 |
Restricted Stock [Member] | ||||
Allocated share-based compensation expense | $ 1,595 | $ 861 | $ 2,445 | $ 1,854 |
Note 3 - Stock-based Compensa_5
Note 3 - Stock-based Compensation - Allocation of Stock-based Compensation to Operating Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Allocated share-based compensation expense | $ 1,673 | $ 968 | $ 2,628 | $ 2,069 |
Selling and Marketing Expense [Member] | ||||
Allocated share-based compensation expense | 731 | 258 | 986 | 556 |
Technology and Development [Member] | ||||
Allocated share-based compensation expense | 105 | 51 | 156 | 111 |
General and Administrative Expense [Member] | ||||
Allocated share-based compensation expense | $ 837 | $ 659 | $ 1,486 | $ 1,402 |
Note 3 - Stock-based Compensa_6
Note 3 - Stock-based Compensation - Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 6 Months Ended |
Dec. 30, 2018USD ($)$ / sharesshares | |
Outstanding (in shares) | shares | 1,968,234 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 2.35 |
Granted, options (in shares) | shares | |
Granted, weighted average exercise price (in dollars per share) | $ / shares | |
Exercised, options (in shares) | shares | (268,234) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 2.33 |
Forfeited (in shares) | shares | |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | |
Outstanding (in shares) | shares | 1,700,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 2.35 |
Outstanding, weighted average remaining contractual term (Year) | 2 years 146 days |
Outstanding, aggregate intrinsic value | $ | $ 16,265 |
Exercisable, options (in shares) | shares | 1,562,000 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 2.27 |
Exercisable, weighted average remaining contractual term (Year) | 2 years 146 days |
Exercisable, aggregate intrinsic value | $ | $ 15,068 |
Note 3 - Stock-based Compensa_7
Note 3 - Stock-based Compensation - Non-vested Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | |
Dec. 30, 2018 | Jul. 01, 2018 | |
Non-vested, beginning balance (in shares) | 968,273 | |
Non-vested, Weighted Average Grant Date Fair Value, beginning balance (in dollars per share) | $ 10.62 | $ 7.70 |
Granted (in shares) | 911,089 | |
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ 12.49 | |
Vested (in shares) | (409,676) | |
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 7.90 | |
Forfeited (in shares) | (8,180) | |
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ 9.45 | |
Non-vested, ending balance (in shares) | 1,461,506 |
Note 4 - Disposition (Details T
Note 4 - Disposition (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | |
Aug. 31, 2018 | Jul. 02, 2017 | Dec. 30, 2018 | Mar. 15, 2017 | |
Disposal Group, Including Discontinued Operation, Period of Post-closing Services | 1 year 240 days | |||
Fannie May [Member] | Other Nonoperating Income (Expense) [Member] | ||||
Gain (Loss) on Disposition of Business | $ 14.6 | |||
Fannie May [Member] | Ferrero [Member] | ||||
Disposal Group, Including Discontinued Operation, Consideration | $ 115 | |||
Working Capital Adjustment in Disposition of Business | $ 8.5 |
Note 5 - Inventory - Summary of
Note 5 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Jul. 01, 2018 |
Finished goods | $ 31,613 | $ 33,930 |
Work-in-process | 6,845 | 17,575 |
Raw materials | 25,548 | 37,320 |
Total inventory | $ 64,006 | $ 88,825 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets (Details Textual) $ in Millions | Dec. 30, 2018USD ($) |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 0.3 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 0.6 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 0.6 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 0.5 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 0.5 |
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | $ 2.1 |
Note 6 - Goodwill and Intangi_4
Note 6 - Goodwill and Intangible Assets - Goodwill by Segment (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Jul. 01, 2018 |
Goodwill | $ 62,590 | $ 62,590 |
Consumer Floral [Member] | ||
Goodwill | 17,441 | |
BloomNet Wire Service [Member] | ||
Goodwill | ||
Gourmet Food and Gift Baskets [Member] | ||
Goodwill | $ 45,149 |
Note 6 - Goodwill and Intangi_5
Note 6 - Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 30, 2018 | Jul. 01, 2018 | |
Intangible assets with determinable lives, gross | $ 22,550 | $ 22,550 |
Accumulated amortization | 17,932 | 17,568 |
Intangible assets with determinable lives, net | 4,618 | 4,982 |
Trademarks with indefinite lives, gross | 55,291 | 54,841 |
Total identifiable intangible assets, gross | 77,841 | 77,391 |
Total identifiable intangible assets, net | 59,909 | 59,823 |
Licensing Agreements [Member] | ||
Intangible assets with determinable lives, gross | 7,420 | 7,420 |
Accumulated amortization | 6,095 | 6,042 |
Intangible assets with determinable lives, net | $ 1,325 | 1,378 |
Licensing Agreements [Member] | Minimum [Member] | ||
Finite-lived intangible asset, useful life (Year) | 14 years | |
Licensing Agreements [Member] | Maximum [Member] | ||
Finite-lived intangible asset, useful life (Year) | 16 years | |
Customer Lists [Member] | ||
Intangible assets with determinable lives, gross | $ 12,184 | 12,184 |
Accumulated amortization | 9,607 | 9,354 |
Intangible assets with determinable lives, net | $ 2,577 | 2,830 |
Customer Lists [Member] | Minimum [Member] | ||
Finite-lived intangible asset, useful life (Year) | 3 years | |
Customer Lists [Member] | Maximum [Member] | ||
Finite-lived intangible asset, useful life (Year) | 10 years | |
Other Intangible Assets [Member] | ||
Intangible assets with determinable lives, gross | $ 2,946 | 2,946 |
Accumulated amortization | 2,230 | 2,172 |
Intangible assets with determinable lives, net | $ 716 | $ 774 |
Other Intangible Assets [Member] | Minimum [Member] | ||
Finite-lived intangible asset, useful life (Year) | 5 years | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Finite-lived intangible asset, useful life (Year) | 14 years |
Note 7 - Investments (Details T
Note 7 - Investments (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Jul. 01, 2018 | |
Cost Method Investments | $ 1.7 | $ 1.7 | $ 1.7 | |||
Flores Online [Member] | ||||||
Equity Method Investment, Ownership Percentage | 24.90% | 24.90% | ||||
Equity Method Investments | $ 0.5 | $ 0.6 | ||||
Income (Loss) from Equity Method Investments, Total | $ (0.1) | $ (0.1) | $ (0.1) | $ (0.1) | ||
Percentage of Equity Method Investment Transferred to a Cost Method Investment | 5.00% | |||||
Flores Online [Member] | Other Income (Expense), Net [Member] | ||||||
Equity Method Investment, Other than Temporary Impairment | $ 0.2 | |||||
Isabella Flores [Member] | ||||||
Cost Method Investment, Ownership Percentage | 5.00% | 5.00% | ||||
Cost Method Investments | $ 0.1 | $ 0.1 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||||
Dec. 30, 2018 | Sep. 30, 2018 | Jul. 01, 2018 | Sep. 30, 2014 | ||
Credit Facility 2014 [Member] | Revolving Credit Facility [Member] | |||||
Proceeds from Lines of Credit, Total | $ 200,000 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 100,000 | ||||
Term Loan [Member] | |||||
Long-term Debt, Total | [1] | $ 100,625 | $ 104,938 | ||
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year | 5,800 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 12,900 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 15,800 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | $ 66,100 | ||||
Term Loan [Member] | Credit Facility 2014 [Member] | |||||
Long-term Debt, Total | $ 115,000 | ||||
Debt Instrument, Number of Installment Payments | 19 | ||||
Debt Instrument, Principal Payment Percentage In Year One | 5.00% | ||||
Debt Instrument, Principal Payment Percentage In Year Two | 7.50% | ||||
Debt Instrument, Principal Payment Percentage In Year Three | 10.00% | ||||
Debt Instrument, Principal Payment Percentage In Year Four | 12.50% | ||||
Debt Instrument, Principal Payment Percentage in Year Five | 15.00% | ||||
Debt Instrument, Principal Payment Due Upon Maturity | $ 61,800 | ||||
Line of Credit and Term Loan [Member] | Base Rate [Member] | Minimum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||
Line of Credit and Term Loan [Member] | Base Rate [Member] | Maximum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||
Line of Credit and Term Loan [Member] | Federal Funds Effective Swap Rate [Member] | |||||
Debt Instrument, Base Rate, Basis Spread on Variable Rate | 0.50% | ||||
Line of Credit and Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument, Base Rate, Basis Spread on Variable Rate | 1.00% | ||||
Line of Credit and Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||
Line of Credit and Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||
[1] | On December 23, 2016, the Company entered into an Amended and Restated Credit Agreement (the "2016 Amended Credit Agreement") with JPMorgan Chase Bank, N.A. as administrative agent, and a group of lenders. The 2016 Amended Credit Agreement amended and restated the Company's credit agreement dated September 30, 2014 to, among other things, extend the maturity date of the $115.0 million outstanding term loan ("Term Loan") and the revolving credit facility (the "Revolver") by approximately two years to December 23, 2021. The Term Loan is payable in 19 quarterly installments of principal and interest beginning on April 2, 2017, with escalating principal payments, at the rate of 5% in year one, 7.5% in year two, 10% in year three, 12.5% in year four, and 15% in year five, with the remaining balance of $61.8 million due upon maturity. The Revolver, in the aggregate amount of $200 million, subject to seasonal reduction to an aggregate amount of $100 million for the period from January 1 through August 1, may be used for working capital and general corporate purposes, subject to certain restrictions. |
Note 8 - Debt - Summary of Curr
Note 8 - Debt - Summary of Current and Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Sep. 30, 2018 | Jul. 01, 2018 | |
Deferred financing costs | $ (2,155) | $ (2,608) | ||
Debt instrument, carrying amount | 98,470 | 102,330 | ||
Less: current debt | 11,500 | 10,063 | ||
Long-term debt | $ 86,970 | 86,970 | 92,267 | |
Line of Credit [Member] | ||||
Revolver | [1] | |||
Term Loan [Member] | ||||
Term Loan | [1] | $ 100,625 | $ 104,938 | |
[1] | On December 23, 2016, the Company entered into an Amended and Restated Credit Agreement (the "2016 Amended Credit Agreement") with JPMorgan Chase Bank, N.A. as administrative agent, and a group of lenders. The 2016 Amended Credit Agreement amended and restated the Company's credit agreement dated September 30, 2014 to, among other things, extend the maturity date of the $115.0 million outstanding term loan ("Term Loan") and the revolving credit facility (the "Revolver") by approximately two years to December 23, 2021. The Term Loan is payable in 19 quarterly installments of principal and interest beginning on April 2, 2017, with escalating principal payments, at the rate of 5% in year one, 7.5% in year two, 10% in year three, 12.5% in year four, and 15% in year five, with the remaining balance of $61.8 million due upon maturity. The Revolver, in the aggregate amount of $200 million, subject to seasonal reduction to an aggregate amount of $100 million for the period from January 1 through August 1, may be used for working capital and general corporate purposes, subject to certain restrictions. |
Note 9 - Property, Plant and _3
Note 9 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Jul. 01, 2018 |
Property, plant, and equipment, gross | $ 351,694 | $ 339,922 |
Accumulated depreciation and amortization | (191,490) | (176,582) |
Property, plant and equipment, net | 160,204 | 163,340 |
Land [Member] | ||
Property, plant, and equipment, gross | 30,789 | 30,789 |
Orchards in Production and Land Improvements [Member] | ||
Property, plant, and equipment, gross | 11,268 | 10,962 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | 59,108 | 58,450 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | 13,422 | 12,997 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | 57,471 | 53,066 |
Computer and Telecommunication Equipment [Member] | ||
Property, plant, and equipment, gross | 49,232 | 46,925 |
Software and Software Development Costs [Member] | ||
Property, plant, and equipment, gross | 122,346 | 115,944 |
Capital Projects in Progress [Member] | ||
Property, plant, and equipment, gross | $ 8,058 | $ 10,789 |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 30, 2018 | Jul. 01, 2018 | |
Trading securities held in a “rabbi trust” | [1] | $ 9,938 | $ 9,368 |
Assets (liabilities) measured at fair value | 9,938 | 9,368 | |
Fair Value, Inputs, Level 1 [Member] | |||
Trading securities held in a “rabbi trust” | [1] | 9,938 | 9,368 |
Assets (liabilities) measured at fair value | 9,938 | 9,368 | |
Fair Value, Inputs, Level 2 [Member] | |||
Trading securities held in a “rabbi trust” | [1] | ||
Assets (liabilities) measured at fair value | |||
Fair Value, Inputs, Level 3 [Member] | |||
Trading securities held in a “rabbi trust” | [1] | ||
Assets (liabilities) measured at fair value | |||
[1] | The Company has established a Non-qualified Deferred Compensation Plan for certain members of senior management. Deferred compensation plan assets are invested in mutual funds held in a "rabbi trust," which is restricted for payment to participants of the NQDC Plan. Trading securities held in a rabbi trust are measured using quoted market prices at the reporting date and are included in the "Other assets" line item, with the corresponding liability included in the "Other liabilities" line item in the consolidated balance sheets. |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Jul. 01, 2018 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 25.40% | 15.20% | 24.90% | 8.70% | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 28.00% | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ (12.2) | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability, Per Diluted Share | $ 0.18 | ||||
Unrecognized Tax Benefits, Ending Balance | $ 0.6 | $ 0.6 | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $ 0.1 | $ 0.1 | |||
Domestic Tax Authority [Member] | |||||
Income Tax Examination, Year under Examination | 2,016 | ||||
Open Tax Year | 2015 2016 2017 | ||||
State and Local Jurisdiction [Member] | |||||
Open Tax Year | 2,013 | ||||
Foreign Tax Authority [Member] | |||||
Open Tax Year | 2,013 |
Note 12 - Business Segments (De
Note 12 - Business Segments (Details Textual) | 6 Months Ended |
Dec. 30, 2018 | |
Number of Reportable Segments | 3 |
Note 12 - Business Segments - S
Note 12 - Business Segments - Segment Performance (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | ||
Net revenues | $ 571,316 | $ 526,093 | $ 740,812 | $ 683,442 | |
Depreciation and amortization | (7,969) | (8,677) | (15,812) | (16,761) | |
Operating income | 94,685 | 84,466 | 71,719 | 64,863 | |
Operating Segments [Member] | |||||
Contribution margin | 123,579 | 111,979 | 129,591 | 120,664 | |
Corporate, Non-Segment [Member] | |||||
Net revenues | 315 | 317 | 582 | 587 | |
Corporate (a) | [1] | (20,925) | (18,836) | (42,060) | (39,040) |
Intersegment Eliminations [Member] | |||||
Net revenues | (543) | (627) | (901) | (908) | |
Consumer Floral [Member] | |||||
Net revenues | 108,106 | 100,064 | 193,182 | 176,674 | |
Consumer Floral [Member] | Operating Segments [Member] | |||||
Net revenues | 108,106 | 100,064 | 193,182 | 176,674 | |
Contribution margin | 9,808 | 10,791 | 17,303 | 17,762 | |
Consumer Floral [Member] | Corporate, Non-Segment [Member] | |||||
Net revenues | |||||
Consumer Floral [Member] | Intersegment Eliminations [Member] | |||||
Net revenues | |||||
BloomNet Wire Service [Member] | |||||
Net revenues | 23,435 | 20,375 | 47,428 | 40,139 | |
BloomNet Wire Service [Member] | Operating Segments [Member] | |||||
Net revenues | 23,435 | 20,375 | 47,428 | 40,139 | |
Contribution margin | 8,257 | 7,692 | 15,895 | 14,393 | |
BloomNet Wire Service [Member] | Corporate, Non-Segment [Member] | |||||
Net revenues | |||||
BloomNet Wire Service [Member] | Intersegment Eliminations [Member] | |||||
Net revenues | |||||
Gourmet Food and Gift Baskets [Member] | |||||
Net revenues | 440,003 | 405,964 | 500,521 | 466,950 | |
Gourmet Food and Gift Baskets [Member] | Operating Segments [Member] | |||||
Net revenues | 440,003 | 405,964 | 500,521 | 466,950 | |
Contribution margin | 105,514 | 93,496 | 96,393 | 88,509 | |
Gourmet Food and Gift Baskets [Member] | Corporate, Non-Segment [Member] | |||||
Net revenues | |||||
Gourmet Food and Gift Baskets [Member] | Intersegment Eliminations [Member] | |||||
Net revenues | |||||
[1] | Corporate expenses consist of the Company's enterprise shared service cost centers, and include, among other items, Information Technology, Human Resources, Accounting and Finance, Legal, Executive and Customer Service Center functions, as well as Stock-Based Compensation. In order to leverage the Company's infrastructure, these functions are operated under a centralized management platform, providing support services throughout the organization. The costs of these functions, other than those of the Customer Service Center, which are allocated directly to the above categories based upon usage, are included within corporate expenses as they are not directly allocable to a specific segment. |
Note 12 - Business Segments - D
Note 12 - Business Segments - Disaggregation of Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 30, 2018 | Dec. 31, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | |
Net revenues | $ 571,316 | $ 526,093 | $ 740,812 | $ 683,442 |
Corporate, Non-Segment [Member] | ||||
Net revenues | 315 | 317 | 582 | 587 |
Intersegment Eliminations [Member] | ||||
Net revenues | (543) | (627) | (901) | (908) |
E-commerce [Member] | Operating Segments [Member] | ||||
Net revenues | 458,821 | 424,132 | 576,521 | 532,903 |
Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | 26,034 | 25,908 | 34,674 | 34,872 |
Wholesale [Member] | Operating Segments [Member] | ||||
Net revenues | 68,304 | 61,117 | 94,926 | 87,505 |
Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | 17,642 | 14,363 | 33,502 | 26,773 |
Other [Member] | ||||
Net revenues | 743 | 883 | 1,508 | 1,710 |
Consumer Floral [Member] | ||||
Net revenues | 108,106 | 100,064 | 193,182 | 176,674 |
Consumer Floral [Member] | Operating Segments [Member] | ||||
Net revenues | 108,106 | 100,064 | 193,182 | 176,674 |
Consumer Floral [Member] | Corporate, Non-Segment [Member] | ||||
Net revenues | ||||
Consumer Floral [Member] | Intersegment Eliminations [Member] | ||||
Net revenues | ||||
Consumer Floral [Member] | E-commerce [Member] | Operating Segments [Member] | ||||
Net revenues | 106,300 | 98,125 | 189,750 | 173,037 |
Consumer Floral [Member] | Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | 1,063 | 1,056 | 1,924 | 1,927 |
Consumer Floral [Member] | Wholesale [Member] | Operating Segments [Member] | ||||
Net revenues | ||||
Consumer Floral [Member] | Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | ||||
Consumer Floral [Member] | Other [Member] | ||||
Net revenues | 743 | 883 | 1,508 | 1,710 |
BloomNet Wire Service [Member] | ||||
Net revenues | 23,435 | 20,375 | 47,428 | 40,139 |
BloomNet Wire Service [Member] | Operating Segments [Member] | ||||
Net revenues | 23,435 | 20,375 | 47,428 | 40,139 |
BloomNet Wire Service [Member] | Corporate, Non-Segment [Member] | ||||
Net revenues | ||||
BloomNet Wire Service [Member] | Intersegment Eliminations [Member] | ||||
Net revenues | ||||
BloomNet Wire Service [Member] | E-commerce [Member] | Operating Segments [Member] | ||||
Net revenues | ||||
BloomNet Wire Service [Member] | Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | ||||
BloomNet Wire Service [Member] | Wholesale [Member] | Operating Segments [Member] | ||||
Net revenues | 5,793 | 6,012 | 13,926 | 13,366 |
BloomNet Wire Service [Member] | Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | 17,642 | 14,363 | 33,502 | 26,773 |
BloomNet Wire Service [Member] | Other [Member] | ||||
Net revenues | ||||
Gourmet Food and Gift Baskets [Member] | ||||
Net revenues | 440,003 | 405,964 | 500,521 | 466,950 |
Gourmet Food and Gift Baskets [Member] | Operating Segments [Member] | ||||
Net revenues | 440,003 | 405,964 | 500,521 | 466,950 |
Gourmet Food and Gift Baskets [Member] | Corporate, Non-Segment [Member] | ||||
Net revenues | ||||
Gourmet Food and Gift Baskets [Member] | Intersegment Eliminations [Member] | ||||
Net revenues | ||||
Gourmet Food and Gift Baskets [Member] | E-commerce [Member] | Operating Segments [Member] | ||||
Net revenues | 352,521 | 326,007 | 386,771 | 359,866 |
Gourmet Food and Gift Baskets [Member] | Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | 24,971 | 24,852 | 32,750 | 32,945 |
Gourmet Food and Gift Baskets [Member] | Wholesale [Member] | Operating Segments [Member] | ||||
Net revenues | 62,511 | 55,105 | 81,000 | 74,139 |
Gourmet Food and Gift Baskets [Member] | Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | ||||
Gourmet Food and Gift Baskets [Member] | Other [Member] | ||||
Net revenues |