Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2019 | May 03, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | 1 800 FLOWERS COM INC | |
Entity Central Index Key | 0001084869 | |
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 | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 28,542,823 | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 35,775,034 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Jul. 01, 2018 |
Assets | ||
Cash and cash equivalents | $ 206,377 | $ 147,240 |
Trade receivables, net | 19,166 | 12,935 |
Inventories | 74,377 | 88,825 |
Prepaid and other | 20,592 | 24,021 |
Total current assets | 320,512 | 273,021 |
Property, plant and equipment, net | 158,190 | 163,340 |
Goodwill | 62,590 | 62,590 |
Other intangibles, net | 59,762 | 59,823 |
Other assets | 13,894 | 12,115 |
Total assets | 614,948 | 570,889 |
Liabilities and Stockholders' Equity | ||
Accounts payable | 25,381 | 41,437 |
Accrued expenses | 103,012 | 73,299 |
Current maturities of long-term debt | 12,219 | 10,063 |
Total current liabilities | 140,612 | 124,799 |
Long-term debt | 83,595 | 92,267 |
Deferred tax liabilities | 27,011 | 26,200 |
Other liabilities | 14,788 | 12,719 |
Total liabilities | 266,006 | 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 | 347,235 | 341,783 |
Retained earnings | 116,830 | 73,429 |
Accumulated other comprehensive loss | (258) | (200) |
Treasury stock, at cost, 17,209,093 and 15,978,790 Class A shares at March 31, 2019 and July 1, 2018, respectively, and 5,280,000 Class B shares at March 31, 2019 and July 1, 2018 | (115,731) | (100,966) |
Total stockholders’ equity | 348,942 | 314,904 |
Total liabilities and stockholders’ equity | 614,948 | 570,889 |
Common Class A [Member] | ||
Stockholders’ equity: | ||
Common stock | 528 | 520 |
Common Class B [Member] | ||
Stockholders’ equity: | ||
Common stock | $ 338 | $ 338 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2019 | 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) | 52,931,127 | 52,071,293 |
Treasury stock, shares (in shares) | 17,209,093 | 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 | 9 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | |
Net revenues | $ 248,413 | $ 238,545 | $ 989,225 | $ 921,987 |
Cost of revenues | 150,893 | 145,090 | 568,338 | 525,995 |
Gross profit | 97,520 | 93,455 | 420,887 | 395,992 |
Operating expenses: | ||||
Marketing and sales | 71,163 | 68,215 | 243,781 | 231,708 |
Technology and development | 11,511 | 10,241 | 32,696 | 29,086 |
General and administrative | 22,447 | 19,553 | 64,480 | 58,128 |
Depreciation and amortization | 7,028 | 7,885 | 22,840 | 24,646 |
Total operating expenses | 112,149 | 105,894 | 363,797 | 343,568 |
Operating income (loss) | (14,629) | (12,439) | 57,090 | 52,424 |
Interest (income) expense, net | (30) | 662 | 2,390 | 2,919 |
Other (income) expense, net | (1,285) | 31 | (293) | (315) |
Income (loss) before income taxes | (13,314) | (13,132) | 54,993 | 49,820 |
Income tax expense (benefit) | (5,073) | (4,669) | 11,922 | 806 |
Net income (loss) | $ (8,241) | $ (8,463) | $ 43,071 | $ 49,014 |
Basic net income (loss) per common share (in dollars per share) | $ (0.13) | $ (0.13) | $ 0.67 | $ 0.76 |
Diluted net income (loss) per common share (in dollars per share) | $ (0.13) | $ (0.13) | $ 0.65 | $ 0.73 |
Weighted average shares used in the calculation of net income (loss) per common share: | ||||
Basic (in shares) | 64,194 | 64,527 | 64,383 | 64,694 |
Diluted (in shares) | 64,194 | 64,527 | 66,456 | 66,949 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | |
Net Income (Loss) Attributable to Parent, Total | $ (8,241) | $ (8,463) | $ 43,071 | $ 49,014 |
Other comprehensive income (loss) (currency translation & other miscellaneous items) | 3 | (38) | (58) | (11) |
Comprehensive income (loss) | $ (8,238) | $ (8,501) | $ 43,013 | $ 49,003 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Jul. 02, 2017 | 51,227,779 | 33,901,603 | 19,989,731 | ||||
Balance at Jul. 02, 2017 | $ 513 | $ 339 | $ 337,726 | $ 32,638 | $ (187) | $ (88,790) | $ 282,239 |
Net income | 49,014 | 49,014 | |||||
Translation adjustment | (11) | (11) | |||||
Stock-based compensation (in shares) | 596,402 | ||||||
Stock-based compensation | $ 5 | 2,996 | 3,001 | ||||
Exercise of stock options (in shares) | 34,000 | ||||||
Exercise of stock options | 179 | 179 | |||||
Acquisition of Class A treasury stock (in shares) | 1,260,515 | ||||||
Acquisition of Class A treasury stock | $ (12,075) | (12,075) | |||||
Balance (in shares) at Apr. 01, 2018 | 51,912,721 | 33,847,063 | 21,250,246 | ||||
Balance at Apr. 01, 2018 | $ 519 | $ 338 | 340,901 | 81,652 | (198) | $ (100,865) | 322,347 |
Conversion of Class B stock into Class A stock (in shares) | 54,540 | (54,540) | |||||
Conversion of Class B stock into Class A stock | $ 1 | $ (1) | |||||
Balance (in shares) at Dec. 31, 2017 | 51,879,967 | 33,847,063 | 21,157,054 | ||||
Balance at Dec. 31, 2017 | $ 519 | $ 338 | 339,805 | 90,115 | (160) | $ (99,875) | 330,742 |
Net income | (8,463) | (8,463) | |||||
Translation adjustment | (38) | (38) | |||||
Stock-based compensation (in shares) | 2,754 | ||||||
Stock-based compensation | 932 | 932 | |||||
Exercise of stock options (in shares) | 30,000 | ||||||
Exercise of stock options | 164 | 164 | |||||
Acquisition of Class A treasury stock (in shares) | 93,192 | ||||||
Acquisition of Class A treasury stock | $ (990) | (990) | |||||
Balance (in shares) at Apr. 01, 2018 | 51,912,721 | 33,847,063 | 21,250,246 | ||||
Balance at Apr. 01, 2018 | $ 519 | $ 338 | 340,901 | 81,652 | (198) | $ (100,865) | 322,347 |
Balance (in shares) at Jul. 01, 2018 | 52,071,293 | 33,822,823 | 21,258,790 | ||||
Balance at Jul. 01, 2018 | $ 520 | $ 338 | 341,783 | 73,429 | (200) | $ (100,966) | 314,904 |
Net income | 43,071 | 43,071 | |||||
Translation adjustment | (58) | (58) | |||||
Stock-based compensation (in shares) | 411,600 | ||||||
Stock-based compensation | $ 4 | 4,527 | $ 4,531 | ||||
Exercise of stock options (in shares) | 448,234 | 448,234 | |||||
Exercise of stock options | $ 4 | 925 | $ 929 | ||||
Acquisition of Class A treasury stock (in shares) | 1,230,303 | ||||||
Acquisition of Class A treasury stock | $ (14,765) | (14,765) | |||||
Balance (in shares) at Mar. 31, 2019 | 52,931,127 | 33,822,823 | 22,489,093 | ||||
Balance at Mar. 31, 2019 | $ 528 | $ 338 | 347,235 | 116,830 | (258) | $ (115,731) | 348,942 |
Other | 330 | 330 | |||||
Balance (in shares) at Dec. 31, 2018 | 52,749,203 | 33,822,823 | 22,383,738 | ||||
Balance at Dec. 31, 2018 | $ 527 | $ 338 | 344,769 | 125,071 | (261) | $ (114,371) | 356,073 |
Net income | (8,241) | (8,241) | |||||
Translation adjustment | 3 | 3 | |||||
Stock-based compensation (in shares) | 1,924 | ||||||
Stock-based compensation | 1,903 | 1,903 | |||||
Exercise of stock options (in shares) | 180,000 | ||||||
Exercise of stock options | $ 1 | 563 | 564 | ||||
Acquisition of Class A treasury stock (in shares) | 105,355 | ||||||
Acquisition of Class A treasury stock | $ (1,360) | (1,360) | |||||
Balance (in shares) at Mar. 31, 2019 | 52,931,127 | 33,822,823 | 22,489,093 | ||||
Balance at Mar. 31, 2019 | $ 528 | $ 338 | $ 347,235 | $ 116,830 | $ (258) | $ (115,731) | $ 348,942 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2019 | Apr. 01, 2018 | |
Operating activities: | ||
Net income | $ 43,071 | $ 49,014 |
Reconciliation of net income to net cash provided by operating activities: | ||
Depreciation and amortization | 22,840 | 24,646 |
Amortization of deferred financing costs | 671 | 721 |
Deferred income taxes | 811 | (13,004) |
Bad debt expense | 1,018 | 906 |
Stock-based compensation | 4,531 | 3,002 |
Other non-cash items | (301) | 249 |
Changes in operating items: | ||
Trade receivables | (7,249) | (9,347) |
Inventories | 14,448 | 6,956 |
Prepaid and other | 2,675 | (45) |
Accounts payable and accrued expenses | 14,741 | 1,453 |
Other assets | (349) | (88) |
Other liabilities | 98 | 110 |
Net cash provided by operating activities | 97,005 | 64,573 |
Investing activities: | ||
Working capital adjustment related to sale of business | (8,500) | |
Capital expenditures, net of non-cash expenditures | (16,845) | (15,809) |
Net cash used in investing activities | (16,845) | (24,309) |
Financing activities: | ||
Acquisition of treasury stock | (14,765) | (12,075) |
Proceeds from exercise of employee stock options | 929 | 179 |
Proceeds from bank borrowings | 30,000 | 30,000 |
Repayment of bank borrowings | (37,187) | (35,031) |
Net cash used in financing activities | (21,023) | (16,927) |
Net change in cash and cash equivalents | 59,137 | 23,337 |
Cash and cash equivalents: | ||
Beginning of period | 147,240 | 149,732 |
End of period | $ 206,377 | $ 173,069 |
Note 1 - Accounting Policies
Note 1 - Accounting Policies | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 1 Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by 1 800 10 10 X. not three nine March 31, 2019 not may June 30, 2019. Annual Report on Form 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 $0.9 $13.2 three nine March 31, 2019, March 31, 2019 $23.9 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 March 31, 2019, not $1.6 $1.0 nine March 31, 2019, not $0.4 $0.3 $1.7 March 31, 2019) 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 Yet Adopted 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%. June, 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 | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 2 The following table sets forth the computation of basic and diluted net income (loss) per common share: Three Months Ended Nine Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands, except per share data) Numerator: Net income (loss) $ (8,241 ) $ (8,463 ) $ 43,071 $ 49,014 Denominator: Weighted average shares outstanding 64,194 64,527 64,383 64,694 Effect of dilutive securities: Employee stock options - - 1,444 1,564 Employee restricted stock awards - - 629 691 - - 2,073 2,255 Adjusted weighted-average shares and assumed conversions 64,194 64,527 66,456 66,949 Net income (loss) per common share Basic $ (0.13 ) $ (0.13 ) $ 0.67 $ 0.76 Diluted $ (0.13 ) $ (0.13 ) $ 0.65 $ 0.73 |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 3 The Company has a Long Term Incentive and Share Award Plan, which is more fully described in Note 12 13 Company’s Annual Report on Form 10 July 1, 2018 The amounts of stock-based compensation expense recognized in the periods presented are as follows: Three Months Ended Nine Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) (in thousands) Stock options $ 67 $ 108 $ 250 $ 323 Restricted stock 1,836 825 4,281 2,679 Total 1,903 933 4,531 3,002 Deferred income tax benefit 328 254 982 846 Stock-based compensation expense, net $ 1,575 $ 679 $ 3,549 $ 2,156 Stock-based compensation is recorded within the following line items of operating expenses: Three Months Ended Six Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) (in thousands) Marketing and sales $ 830 $ 248 $ 1,816 $ 804 Technology and development 118 49 274 160 General and administrative 955 636 2,441 2,038 Total $ 1,903 $ 933 $ 4,531 $ 3,002 Stock based compensation expense has not Note 12 Stock Options The following table summarizes stock option activity during the nine March 31, 2019: 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 (448,234 ) $ 2.12 Forfeited (2,000 ) $ 2.22 Outstanding at March 31, 2019 1,518,000 $ 2.42 2.3 $ 24,004 Exercisable at March 31, 2019 1,385,000 $ 2.36 2.2 $ 21,976 As of March 31, 2019, not $0.2 0.6 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 nine March 31, 2019: Shares Weighted Average Grant Date Fair Value Non-vested at July 1, 2018 968,273 $ 7.70 Granted 937,313 $ 12.70 Vested (411,600 ) $ 7.91 Forfeited (24,037 ) $ 9.62 Non-vested at March 31, 2019 1,469,949 $ 10.80 The fair value of non-vested shares is determined based on the closing stock price on the grant date. As of March 31, 2019, $11.6 2.2 |
Note 4 - Disposition
Note 4 - Disposition | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 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 | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5 The Company’s inventory, stated at cost, which is not March 31, 2019 July 1, 2018 (in thousands) Finished goods $ 31,947 $ 33,930 Work-in-process 10,418 17,575 Raw materials 32,012 37,320 Total inventory $ 74,377 $ 88,825 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 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 March 31, 2019 and July 1, 2018 $ 17,441 $ - $ 45,149 $ 62,590 The Company’s other intangible assets consist of the following: March 31, 2019 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 $ 6,121 $ 1,299 $ 7,420 $ 6,042 $ 1,378 Customer lists 3-10 12,184 9,703 2,481 12,184 9,354 2,830 Other 5-14 2,946 2,255 691 2,946 2,172 774 Total intangible assets with determinable lives 22,550 18,079 4,471 22,550 17,568 4,982 Trademarks with indefinite lives 55,291 - 55,291 54,841 - 54,841 Total identifiable intangible assets $ 77,841 $ 18,079 $ 59,762 $ 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 $0.2 2020 $0.6 2021 $0.6 2022 $0.5 2023 $0.5 $2.1 |
Note 7 - Investments
Note 7 - Investments | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 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 S.A. ("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 March 31, 2019 $0.6 July 1, 2018, three nine March 31, 2019 April 1, 2018, $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 March 31, 2019 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 | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 The Company’s current and long-term debt consists of the following: March 31, 2019 July 1, 2018 (in thousands) Revolver (1) $ - $ - Term Loan (1) 97,750 104,938 Deferred financing costs (1,936 ) (2,608 ) Total debt 95,814 102,330 Less: current debt 12,219 10,063 Long-term debt $ 83,595 $ 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 March 31, 2019. 2016 Future principal payments under the Term Loan are as follows: $2.9 2019, $12.9 2020, $15.8 2021, $66.1 2022. |
Note 9 - Property, Plant and Eq
Note 9 - Property, Plant and Equipment | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9 The Company’s property, plant and equipment consists of the following: March 31, 2019 July 1, 2018 (in thousands) Land $ 30,789 $ 30,789 Orchards in production and land improvements 11,312 10,962 Building and building improvements 59,115 58,450 Leasehold improvements 13,430 12,997 Production equipment and furniture and fixtures 57,915 53,066 Computer and telecommunication equipment 50,042 46,925 Software 125,927 115,944 Capital projects in progress - orchards 8,222 10,789 Property, plant and equipment, gross 356,752 339,922 Accumulated depreciation and amortization (198,562 ) (176,582 ) Property, plant and equipment, net $ 158,190 $ 163,340 |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurements | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 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 March 31, 2019: Trading securities held in a “rabbi trust” (1) $ 11,338 $ 11,338 $ - $ - $ 11,338 $ 11,338 $ - $ - 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 an NQDC 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 | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 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 nine March 31, 2019 38.1% 21.7% 35.6% 1.6% 2019 21% 2018 28.0% $12.2 $0.18 second 2018, 21% Note 1 2017 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, 2018 2015. 2014 The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. At March 31, 2019, $0.6 $0.1 twelve |
Note 12 - Business Segments
Note 12 - Business Segments | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 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 Nine Months Ended Net Revenues: March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) Segment Net Revenues: 1-800-Flowers.com Consumer Floral $ 144,821 $ 135,782 $ 338,003 $ 312,456 BloomNet Wire Service 28,185 24,498 75,613 64,637 Gourmet Food & Gift Baskets 75,445 78,458 575,966 545,408 Corporate 263 264 845 851 Intercompany eliminations (301 ) (457 ) (1,202 ) (1,365 ) Total net revenues $ 248,413 $ 238,545 $ 989,225 $ 921,987 Three Months Ended Nine Months Ended Operating I ncome (Loss) : March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) Segment Contribution Margin: 1-800-Flowers.com Consumer Floral $ 15,364 $ 16,226 $ 32,667 $ 33,988 BloomNet Wire Service 9,480 8,439 25,375 22,832 Gourmet Food & Gift Baskets (7,202 ) (8,811 ) 89,191 79,698 Segment Contribution Margin Subtotal 17,642 15,854 147,233 136,518 Corporate (a) (25,243 ) (20,408 ) (67,303 ) (59,448 ) Depreciation and amortization (7,028 ) (7,885 ) (22,840 ) (24,646 ) Operating income (loss) $ (14,629 ) $ (12,439 ) $ 57,090 $ 52,424 (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 March 31, 2019 April 1, 2018 Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Net revenues E-commerce $ 142,552 $ - $ 61,810 $ 204,362 $ 133,442 $ - $ 63,422 $ 196,864 Retail 1,189 - 5,727 6,916 1,272 - 6,326 7,598 Wholesale - 9,321 7,908 17,229 - 8,838 8,710 17,548 BloomNet services - 18,864 - 18,864 - 15,660 - 15,660 Other 1,080 - - 1,080 1,068 - - 1,068 Corporate - - - 263 - - - 264 Eliminations - - - (301 ) - - - (457 ) Net revenues $ 144,821 $ 28,185 $ 75,445 $ 248,413 $ 135,782 $ 24,498 $ 78,458 $ 238,545 Nine Months Ended Nine Months Ended March 31, 2019 April 1, 2018 Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Net revenues E-commerce 332,302 - 448,581 780,883 306,479 - 423,289 729,768 Retail 3,113 - 38,477 41,590 3,199 - 39,270 42,469 Wholesale - 23,247 88,908 112,155 - 22,204 82,849 105,053 Bloomnet services - 52,366 - 52,366 - 42,433 - 42,433 Other 2,588 - - 2,588 2,778 - - 2,778 Corporate - - - 845 - - - 851 Eliminations - - - (1,202 ) - - - (1,365 ) Net revenues 338,003 75,613 575,966 989,225 312,456 64,637 545,408 921,987 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 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) | 9 Months Ended |
Mar. 31, 2019 | |
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 nine March 31, 2019 not may June 30, 2019. Annual Report on Form 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 $0.9 $13.2 three nine March 31, 2019, March 31, 2019 $23.9 |
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 March 31, 2019, not $1.6 $1.0 nine March 31, 2019, not $0.4 $0.3 $1.7 March 31, 2019) 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 Yet Adopted 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%. June, 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) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands, except per share data) Numerator: Net income (loss) $ (8,241 ) $ (8,463 ) $ 43,071 $ 49,014 Denominator: Weighted average shares outstanding 64,194 64,527 64,383 64,694 Effect of dilutive securities: Employee stock options - - 1,444 1,564 Employee restricted stock awards - - 629 691 - - 2,073 2,255 Adjusted weighted-average shares and assumed conversions 64,194 64,527 66,456 66,949 Net income (loss) per common share Basic $ (0.13 ) $ (0.13 ) $ 0.67 $ 0.76 Diluted $ (0.13 ) $ (0.13 ) $ 0.65 $ 0.73 |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three Months Ended Nine Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) (in thousands) Stock options $ 67 $ 108 $ 250 $ 323 Restricted stock 1,836 825 4,281 2,679 Total 1,903 933 4,531 3,002 Deferred income tax benefit 328 254 982 846 Stock-based compensation expense, net $ 1,575 $ 679 $ 3,549 $ 2,156 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Six Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) (in thousands) Marketing and sales $ 830 $ 248 $ 1,816 $ 804 Technology and development 118 49 274 160 General and administrative 955 636 2,441 2,038 Total $ 1,903 $ 933 $ 4,531 $ 3,002 |
Share-based Payment Arrangement, Option, 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 (448,234 ) $ 2.12 Forfeited (2,000 ) $ 2.22 Outstanding at March 31, 2019 1,518,000 $ 2.42 2.3 $ 24,004 Exercisable at March 31, 2019 1,385,000 $ 2.36 2.2 $ 21,976 |
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 937,313 $ 12.70 Vested (411,600 ) $ 7.91 Forfeited (24,037 ) $ 9.62 Non-vested at March 31, 2019 1,469,949 $ 10.80 |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2019 July 1, 2018 (in thousands) Finished goods $ 31,947 $ 33,930 Work-in-process 10,418 17,575 Raw materials 32,012 37,320 Total inventory $ 74,377 $ 88,825 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 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] | March 31, 2019 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 $ 6,121 $ 1,299 $ 7,420 $ 6,042 $ 1,378 Customer lists 3-10 12,184 9,703 2,481 12,184 9,354 2,830 Other 5-14 2,946 2,255 691 2,946 2,172 774 Total intangible assets with determinable lives 22,550 18,079 4,471 22,550 17,568 4,982 Trademarks with indefinite lives 55,291 - 55,291 54,841 - 54,841 Total identifiable intangible assets $ 77,841 $ 18,079 $ 59,762 $ 77,391 $ 17,568 $ 59,823 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, 2019 July 1, 2018 (in thousands) Revolver (1) $ - $ - Term Loan (1) 97,750 104,938 Deferred financing costs (1,936 ) (2,608 ) Total debt 95,814 102,330 Less: current debt 12,219 10,063 Long-term debt $ 83,595 $ 92,267 |
Note 9 - Property, Plant and _2
Note 9 - Property, Plant and Equipment (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, 2019 July 1, 2018 (in thousands) Land $ 30,789 $ 30,789 Orchards in production and land improvements 11,312 10,962 Building and building improvements 59,115 58,450 Leasehold improvements 13,430 12,997 Production equipment and furniture and fixtures 57,915 53,066 Computer and telecommunication equipment 50,042 46,925 Software 125,927 115,944 Capital projects in progress - orchards 8,222 10,789 Property, plant and equipment, gross 356,752 339,922 Accumulated depreciation and amortization (198,562 ) (176,582 ) Property, plant and equipment, net $ 158,190 $ 163,340 |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurements (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019: Trading securities held in a “rabbi trust” (1) $ 11,338 $ 11,338 $ - $ - $ 11,338 $ 11,338 $ - $ - 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) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended Net Revenues: March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) Segment Net Revenues: 1-800-Flowers.com Consumer Floral $ 144,821 $ 135,782 $ 338,003 $ 312,456 BloomNet Wire Service 28,185 24,498 75,613 64,637 Gourmet Food & Gift Baskets 75,445 78,458 575,966 545,408 Corporate 263 264 845 851 Intercompany eliminations (301 ) (457 ) (1,202 ) (1,365 ) Total net revenues $ 248,413 $ 238,545 $ 989,225 $ 921,987 Three Months Ended Nine Months Ended Operating I ncome (Loss) : March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 (in thousands) Segment Contribution Margin: 1-800-Flowers.com Consumer Floral $ 15,364 $ 16,226 $ 32,667 $ 33,988 BloomNet Wire Service 9,480 8,439 25,375 22,832 Gourmet Food & Gift Baskets (7,202 ) (8,811 ) 89,191 79,698 Segment Contribution Margin Subtotal 17,642 15,854 147,233 136,518 Corporate (a) (25,243 ) (20,408 ) (67,303 ) (59,448 ) Depreciation and amortization (7,028 ) (7,885 ) (22,840 ) (24,646 ) Operating income (loss) $ (14,629 ) $ (12,439 ) $ 57,090 $ 52,424 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Three Months Ended March 31, 2019 April 1, 2018 Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Net revenues E-commerce $ 142,552 $ - $ 61,810 $ 204,362 $ 133,442 $ - $ 63,422 $ 196,864 Retail 1,189 - 5,727 6,916 1,272 - 6,326 7,598 Wholesale - 9,321 7,908 17,229 - 8,838 8,710 17,548 BloomNet services - 18,864 - 18,864 - 15,660 - 15,660 Other 1,080 - - 1,080 1,068 - - 1,068 Corporate - - - 263 - - - 264 Eliminations - - - (301 ) - - - (457 ) Net revenues $ 144,821 $ 28,185 $ 75,445 $ 248,413 $ 135,782 $ 24,498 $ 78,458 $ 238,545 Nine Months Ended Nine Months Ended March 31, 2019 April 1, 2018 Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Consumer Floral BloomNet Wire Service Gourmet Food and Gift Baskets Consolidated Net revenues E-commerce 332,302 - 448,581 780,883 306,479 - 423,289 729,768 Retail 3,113 - 38,477 41,590 3,199 - 39,270 42,469 Wholesale - 23,247 88,908 112,155 - 22,204 82,849 105,053 Bloomnet services - 52,366 - 52,366 - 42,433 - 42,433 Other 2,588 - - 2,588 2,778 - - 2,778 Corporate - - - 845 - - - 851 Eliminations - - - (1,202 ) - - - (1,365 ) Net revenues 338,003 75,613 575,966 989,225 312,456 64,637 545,408 921,987 |
Note 1 - Accounting Policies (D
Note 1 - Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jul. 02, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 |
Contract with Customer, Liability, Current | $ 23,900 | $ 23,900 | $ 13,500 | ||||
Contract with Customer, Liability, Revenue Recognized | 900 | 13,200 | |||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | 330 | ||||||
Selling and Marketing Expense, Total | 71,163 | $ 68,215 | 243,781 | $ 231,708 | |||
Net Income (Loss) Attributable to Parent, Total | (8,241) | $ (8,463) | 43,071 | $ 49,014 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 28.00% | ||||||
Forecast [Member] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||
Customer's Gift Card [Member] | |||||||
Contract with Customer, Liability, Current | 1,700 | 1,700 | |||||
Accounting Standards Update 2014-09 [Member] | |||||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | $ 300 | ||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||
Selling and Marketing Expense, Total | 1,600 | 400 | |||||
Net Income (Loss) Attributable to Parent, Total | $ 1,000 | $ 300 | |||||
Accounting Standards Update 2014-09 [Member] | Reduction of Accrued Expenses [Member] | |||||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | 1,900 | ||||||
Accounting Standards Update 2014-09 [Member] | Decrease in Prepaid Expense [Member] | |||||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | (800) | ||||||
Accounting Standards Update 2014-09 [Member] | Increase in Accrued Expenses [Member] | |||||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | $ (800) |
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 | 9 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | |
Net Income (Loss) Attributable to Parent, Total | $ (8,241) | $ (8,463) | $ 43,071 | $ 49,014 |
Weighted average shares outstanding (in shares) | 64,194 | 64,527 | 64,383 | 64,694 |
Effect of dilutive securities (in shares) | 2,073 | 2,255 | ||
Adjusted weighted-average shares and assumed conversions (in shares) | 64,194 | 64,527 | 66,456 | 66,949 |
Basic (in dollars per share) | $ (0.13) | $ (0.13) | $ 0.67 | $ 0.76 |
Diluted (in dollars per share) | $ (0.13) | $ (0.13) | $ 0.65 | $ 0.73 |
Share-based Payment Arrangement, Option [Member] | ||||
Effect of dilutive securities (in shares) | 1,444 | 1,564 | ||
Restricted Stock [Member] | ||||
Effect of dilutive securities (in shares) | 629 | 691 |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) $ in Millions | 9 Months Ended |
Mar. 31, 2019USD ($) | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 219 days |
Share-based Payment Arrangement, Option [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0.2 |
Restricted Stock [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 11.6 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 73 days |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Stock-based Compensation Expense Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | |
Allocated share-based compensation expense | $ 1,903 | $ 933 | $ 4,531 | $ 3,002 |
Deferred income tax benefit | 328 | 254 | 982 | 846 |
Allocated share-based compensation expense, net | 1,575 | 679 | 3,549 | 2,156 |
Share-based Payment Arrangement, Option [Member] | ||||
Allocated share-based compensation expense | 67 | 108 | 250 | 323 |
Restricted Stock [Member] | ||||
Allocated share-based compensation expense | $ 1,836 | $ 825 | $ 4,281 | $ 2,679 |
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 | 9 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | |
Allocated share-based compensation expense | $ 1,903 | $ 933 | $ 4,531 | $ 3,002 |
Selling and Marketing Expense [Member] | ||||
Allocated share-based compensation expense | 830 | 248 | 1,816 | 804 |
Technology and Development [Member] | ||||
Allocated share-based compensation expense | 118 | 49 | 274 | 160 |
General and Administrative Expense [Member] | ||||
Allocated share-based compensation expense | $ 955 | $ 636 | $ 2,441 | $ 2,038 |
Note 3 - Stock-based Compensa_6
Note 3 - Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended |
Mar. 31, 2019 | |
Outstanding (in shares) | 1,968,234 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.35 |
Granted, options (in shares) | |
Granted, weighted average exercise price (in dollars per share) | |
Exercised, options (in shares) | (448,234) |
Exercised, weighted average exercise price (in dollars per share) | $ 2.12 |
Forfeited (in shares) | (2,000) |
Forfeited, weighted average exercise price (in dollars per share) | $ 2.22 |
Outstanding (in shares) | 1,518,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.42 |
Outstanding, weighted average remaining contractual term (Year) | 2 years 109 days |
Outstanding, aggregate intrinsic value | $ 24,004 |
Exercisable, options (in shares) | 1,385,000 |
Exercisable, weighted average exercise price (in dollars per share) | $ 2.36 |
Exercisable, weighted average remaining contractual term (Year) | 2 years 73 days |
Exercisable, aggregate intrinsic value | $ 21,976 |
Note 3 - Stock-based Compensa_7
Note 3 - Stock-based Compensation - Non-vested Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 9 Months Ended | |
Mar. 31, 2019 | 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) | $ 10.80 | $ 7.70 |
Granted (in shares) | 937,313 | |
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ 12.70 | |
Vested (in shares) | (411,600) | |
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 7.91 | |
Forfeited (in shares) | (24,037) | |
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ 9.62 | |
Non-vested, ending balance (in shares) | 1,469,949 |
Note 4 - Disposition (Details T
Note 4 - Disposition (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |
Aug. 31, 2018 | Jul. 02, 2017 | Mar. 31, 2019 | 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 | Mar. 31, 2019 | Jul. 01, 2018 |
Finished goods | $ 31,947 | $ 33,930 |
Work-in-process | 10,418 | 17,575 |
Raw materials | 32,012 | 37,320 |
Total inventory | $ 74,377 | $ 88,825 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets (Details Textual) $ in Millions | Mar. 31, 2019USD ($) |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 0.2 |
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 | Mar. 31, 2019 | 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 | 9 Months Ended | |
Mar. 31, 2019 | Jul. 01, 2018 | |
Intangible assets with determinable lives, gross | $ 22,550 | $ 22,550 |
Accumulated amortization | 18,079 | 17,568 |
Intangible assets with determinable lives, net | 4,471 | 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 | 59,762 | 59,823 |
Licensing Agreements [Member] | ||
Intangible assets with determinable lives, gross | 7,420 | 7,420 |
Accumulated amortization | 6,121 | 6,042 |
Intangible assets with determinable lives, net | $ 1,299 | 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 | 9,703 | 9,354 |
Intangible assets with determinable lives, net | $ 2,481 | 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 | 2,255 | 2,172 |
Intangible assets with determinable lives, net | $ 691 | $ 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 | 9 Months Ended | ||||
Mar. 31, 2019 | Apr. 01, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Apr. 01, 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 | $ 0.5 | $ 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% | |||||
Cost Method Investments | $ 0.1 | $ 0.1 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |||
Mar. 31, 2019 | 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] | 97,750 | $ 104,938 | |
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year | 2,900 | |||
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] | Fed Funds Effective Rate Overnight Index 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 | Mar. 31, 2019 | Jul. 01, 2018 | |
Deferred financing costs | $ (1,936) | $ (2,608) | |
Debt instrument, carrying amount | 95,814 | 102,330 | |
Less: current debt | 12,219 | 10,063 | |
Long-term debt | 83,595 | 92,267 | |
Line of Credit [Member] | |||
Revolver | [1] | ||
Term Loan [Member] | |||
Term Loan | [1] | $ 97,750 | $ 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 | Mar. 31, 2019 | Jul. 01, 2018 |
Property, plant, and equipment, gross | $ 356,752 | $ 339,922 |
Accumulated depreciation and amortization | (198,562) | (176,582) |
Property, plant and equipment, net | 158,190 | 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 | 11,312 | 10,962 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | 59,115 | 58,450 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | 13,430 | 12,997 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | 57,915 | 53,066 |
Computer and Telecommunication Equipment [Member] | ||
Property, plant, and equipment, gross | 50,042 | 46,925 |
Software and Software Development Costs [Member] | ||
Property, plant, and equipment, gross | 125,927 | 115,944 |
Capital Projects in Progress [Member] | ||
Property, plant, and equipment, gross | $ 8,222 | $ 10,789 |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jul. 01, 2018 | |
Trading securities held in a “rabbi trust” | [1] | $ 11,338 | $ 9,368 |
Assets (liabilities) measured at fair value | 11,338 | 9,368 | |
Fair Value, Inputs, Level 1 [Member] | |||
Trading securities held in a “rabbi trust” | [1] | 11,338 | 9,368 |
Assets (liabilities) measured at fair value | 11,338 | 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 an NQDC 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 | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | Jul. 01, 2018 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 38.10% | 35.60% | 21.70% | 1.60% | |
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 | 2016 | ||||
Open Tax Year | 2015 2016 2017 | ||||
State and Local Jurisdiction [Member] | |||||
Open Tax Year | 2015 | ||||
Foreign Tax Authority [Member] | |||||
Open Tax Year | 2014 |
Note 12 - Business Segments (De
Note 12 - Business Segments (Details Textual) | 9 Months Ended |
Mar. 31, 2019 | |
Number of Reportable Segments | 3 |
Note 12 - Business Segments - S
Note 12 - Business Segments - Segment Performance (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | ||
Net revenues | $ 248,413 | $ 238,545 | $ 989,225 | $ 921,987 | |
Depreciation and amortization | (7,028) | (7,885) | (22,840) | (24,646) | |
Operating income (loss) | (14,629) | (12,439) | 57,090 | 52,424 | |
Operating Segments [Member] | |||||
Contribution margin | 17,642 | 15,854 | 147,233 | 136,518 | |
Corporate, Non-Segment [Member] | |||||
Net revenues | 263 | 264 | 845 | 851 | |
Corporate | [1] | (25,243) | (20,408) | (67,303) | (59,448) |
Intersegment Eliminations [Member] | |||||
Net revenues | (301) | (457) | (1,202) | (1,365) | |
Consumer Floral [Member] | |||||
Net revenues | 144,821 | 135,782 | 338,003 | 312,456 | |
Consumer Floral [Member] | Operating Segments [Member] | |||||
Net revenues | 144,821 | 135,782 | 338,003 | 312,456 | |
Contribution margin | 15,364 | 16,226 | 32,667 | 33,988 | |
Consumer Floral [Member] | Corporate, Non-Segment [Member] | |||||
Net revenues | |||||
Consumer Floral [Member] | Intersegment Eliminations [Member] | |||||
Net revenues | |||||
BloomNet Wire Service [Member] | |||||
Net revenues | 28,185 | 24,498 | 75,613 | 64,637 | |
BloomNet Wire Service [Member] | Operating Segments [Member] | |||||
Net revenues | 28,185 | 24,498 | 75,613 | 64,637 | |
Contribution margin | 9,480 | 8,439 | 25,375 | 22,832 | |
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 | 75,445 | 78,458 | 575,966 | 545,408 | |
Gourmet Food and Gift Baskets [Member] | Operating Segments [Member] | |||||
Net revenues | 75,445 | 78,458 | 575,966 | 545,408 | |
Contribution margin | (7,202) | (8,811) | 89,191 | 79,698 | |
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 | 9 Months Ended | ||
Mar. 31, 2019 | Apr. 01, 2018 | Mar. 31, 2019 | Apr. 01, 2018 | |
Net revenues | $ 248,413 | $ 238,545 | $ 989,225 | $ 921,987 |
Corporate, Non-Segment [Member] | ||||
Net revenues | 263 | 264 | 845 | 851 |
Intersegment Eliminations [Member] | ||||
Net revenues | (301) | (457) | (1,202) | (1,365) |
E-commerce [Member] | Operating Segments [Member] | ||||
Net revenues | 204,362 | 196,864 | 780,883 | 729,768 |
Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | 6,916 | 7,598 | 41,590 | 42,469 |
Wholesale [Member] | Operating Segments [Member] | ||||
Net revenues | 17,229 | 17,548 | 112,155 | 105,053 |
Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | 18,864 | 15,660 | 52,366 | 42,433 |
Other [Member] | ||||
Net revenues | 1,080 | 1,068 | 2,588 | 2,778 |
Consumer Floral [Member] | ||||
Net revenues | 144,821 | 135,782 | 338,003 | 312,456 |
Consumer Floral [Member] | Operating Segments [Member] | ||||
Net revenues | 144,821 | 135,782 | 338,003 | 312,456 |
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 | 142,552 | 133,442 | 332,302 | 306,479 |
Consumer Floral [Member] | Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | 1,189 | 1,272 | 3,113 | 3,199 |
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 | 1,080 | 1,068 | 2,588 | 2,778 |
BloomNet Wire Service [Member] | ||||
Net revenues | 28,185 | 24,498 | 75,613 | 64,637 |
BloomNet Wire Service [Member] | Operating Segments [Member] | ||||
Net revenues | 28,185 | 24,498 | 75,613 | 64,637 |
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 | 9,321 | 8,838 | 23,247 | 22,204 |
BloomNet Wire Service [Member] | Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | 18,864 | 15,660 | 52,366 | 42,433 |
BloomNet Wire Service [Member] | Other [Member] | ||||
Net revenues | ||||
Gourmet Food and Gift Baskets [Member] | ||||
Net revenues | 75,445 | 78,458 | 575,966 | 545,408 |
Gourmet Food and Gift Baskets [Member] | Operating Segments [Member] | ||||
Net revenues | 75,445 | 78,458 | 575,966 | 545,408 |
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 | 61,810 | 63,422 | 448,581 | 423,289 |
Gourmet Food and Gift Baskets [Member] | Retail Sales Channel [Member] | Operating Segments [Member] | ||||
Net revenues | 5,727 | 6,326 | 38,477 | 39,270 |
Gourmet Food and Gift Baskets [Member] | Wholesale [Member] | Operating Segments [Member] | ||||
Net revenues | 7,908 | 8,710 | 88,908 | 82,849 |
Gourmet Food and Gift Baskets [Member] | Bloomnet Services [Member] | Operating Segments [Member] | ||||
Net revenues | ||||
Gourmet Food and Gift Baskets [Member] | Other [Member] | ||||
Net revenues |