Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2019 |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements include the accounts of 1 800 2019, 2018 2017, 1% |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year The Company’s fiscal year is a 52 53 June 30. 2019, 2018, 2017, June 30, 2019, July 1, 2018, July 2, 2017, 52 |
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. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of demand deposits with banks, highly liquid money market funds, United States government securities, overnight repurchase agreements and commercial paper with maturities of three |
Inventory, Policy [Policy Text Block] | Inventories Inventories are valued at the lower of cost or market using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Depreciation expense is computed using the straight-line method over the assets’ estimated useful lives. Amortization of leasehold improvements and capital leases is computed using the straight-line method over the shorter of the estimated useful lives and the initial lease terms. The Company capitalizes certain internal and external costs incurred to acquire or develop internal-use software. Capitalized software costs are amortized on a straight-line basis over the estimated useful life of the software. Orchards in production, consisting of direct labor and materials, supervision and other items, are capitalized as part of capital projects in progress – orchards until the orchards produce fruit in commercial quantities. Upon attaining commercial levels of production, the capital investments in these orchards are recorded as land improvements. Estimated useful lives are periodically reviewed, and where appropriate, changes are made prospectively. The Company’s property, plant and equipment are depreciated using the following estimated lives: Building and building improvements (years) 10-40 Leasehold improvements (years) 3-10 Furniture, fixtures and production equipment (years) 3-10 Software (years) 3-7 Orchards in production and land improvements (years) 15-35 Property, plant and equipment are reviewed for impairment whenever changes in circumstances or events may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in each business combination, with the carrying value of the Company’s goodwill allocated to its reporting units, in accordance with the acquisition method of accounting. Goodwill is not fourth not may In applying the goodwill impairment test, the Company has the option to perform a qualitative test (also known as “Step 0” two 1” 2” 0 first not may not not” two The first 1” two no second 2” not 2 2, The Company generally estimates the fair value of a reporting unit using an equal weighting of the income and market approaches. The Company uses industry accepted valuation models and set criteria that are reviewed and approved by various levels of management and, in certain instances, the Company engages third first During fiscal year 2019, not 0 1 2018 2017, 0 not not” |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Other Intangibles, net Other intangibles consist of definite-lived intangible assets (such as investment in licenses, customer lists, and others) and indefinite-lived intangible assets (such as acquired trade names and trademarks). The cost of definite-lived intangible assets is amortized to reflect the pattern of economic benefits consumed, over the estimated periods benefited, ranging from 3 16 not Definite-lived intangibles are reviewed for impairment whenever changes in circumstances or events may not The Company tests indefinite-lived intangible assets for impairment at least annually, during the fourth may not 0” 0 not may not not” third During fiscal year 2019, not 0 2018 2017, 0 not not” |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company accounts for business combinations in accordance with ASC Topic 805, not 3 |
Deferred Charges, Policy [Policy Text Block] | Deferred Catalog Costs The Company capitalizes the costs of producing and distributing its catalogs. Starting in fiscal 2019, No. 2014 09 2018 2017. $2.8 $3.0 June 30, 2019 July 1, 2018 |
Investment, Policy [Policy Text Block] | Investments 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 June 30, 2019 $0.6 July 1, 2018, June 30, 2019, July 1, 2018 July 2, 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 $1.6 June 30, 2019 $1.7 July 1, 2018, $1.5 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 ) |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with high quality financial institutions. Concentration of credit risk with respect to accounts receivable is limited due to the Company's large number of customers and their dispersion throughout the United States, and the fact that a substantial portion of receivables are related to balances owed by major credit card companies. Allowances relating to consumer, corporate and franchise accounts receivable ( $2.8 June 30, 2019 $2.4 July 1, 2018) |
Revenue [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 R evenues 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 $13.5 June 30, 2019. June 30, 2019 $17.3 |
Cost of Goods and Service [Policy Text Block] | Cost of Revenues Cost of revenues consists primarily of florist fulfillment costs (fees paid directly to florists), the cost of floral and non-floral merchandise sold from inventory or through third |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Marketing and Sales Marketing and sales expense consists primarily of advertising expenses, catalog costs, online portal and search expenses, retail store and fulfillment operations (other than costs included in cost of revenues), and customer service center expenses, as well as the operating expenses of the Company’s departments engaged in marketing, selling and merchandising activities. The Company expenses all advertising costs, with the exception of catalog costs (see Deferred Catalog Costs first $147.8 $138.2 $137.5 June 30, 2019, July 1, 2018 July 2, 2017, |
Research, Development, and Computer Software, Policy [Policy Text Block] | Technology and Development Technology and development expense consists primarily of payroll and operating expenses of the Company’s information technology group, costs associated with its websites, including hosting, content development and maintenance and support costs related to the Company’s order entry, customer service, fulfillment and database systems. Costs associated with the acquisition or development of software for internal use are capitalized if the software is expected to have a useful life beyond one three seven one |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company records compensation expense associated with restricted stock awards and other forms of equity compensation based upon the fair value of stock-based awards as measured at the grant date. The cost associated with share-based awards that are subject solely to time-based vesting requirements is recognized over the awards’ service period for the entire award on a straight-line basis. The cost associated with performance-based equity awards is recognized for each tranche over the service period, based on an assessment of the likelihood that the applicable performance goals will be achieved. |
Derivatives, Policy [Policy Text Block] | Derivatives and H edging The Company does not not June 30, 2019 July 1, 2018. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses the asset and liability method to account for income taxes. The Company has established deferred tax assets and liabilities for temporary differences between the financial reporting bases and the income tax bases of its assets and liabilities at enacted tax rates expected to be in effect when such assets or liabilities are realized or settled. The Company recognizes as a deferred tax asset, the tax benefits associated with losses related to operations. Realization of these deferred tax assets assumes that we will be able to generate sufficient future taxable income so that these assets will be realized. The factors that the Company considers in assessing the likelihood of realization include the forecast of future taxable income and available tax planning strategies that could be implemented to realize the deferred tax assets. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not 50% not” |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Share Basic net income per common share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of common and dilutive common equivalent shares (consisting primarily of employee stock options and unvested restricted stock awards) outstanding during the period . |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements - Adopted Revenue from Contracts with Customers. May 2014, No. 2014 09, 606” The Company adopted this ASC effective July 2, 2018 $0.3 $1.9 $0.8 $0.8 10 not not 2019. 2019 10 $1.8 June 30, 2019) not 15 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 We will adopt the new standard beginning with the first June 28, 2020. not not not not not 12 We are finalizing the impact of the standard to our accounting policies, processes, disclosures, and internal control over financial reporting and have implemented necessary upgrades to our existing lease system. The Company currently anticipates a material impact to its Consolidated Balance Sheets, but expects no $80.7 $78.7 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 2 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 |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain balances in the prior fiscal years have been reclassified to conform to the presentation in the current fiscal year. |