1-800-FLOWERS.COM (FLWS) 10-Q 5 Feb 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 27, 2020	Jan. 29, 2021
Document Information [Line Items]
Entity Central Index Key	0001084869
Entity Registrant Name	1 800 FLOWERS COM INC
Amendment Flag	false
Current Fiscal Year End Date	--06-27
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 27, 2020
Document Transition Report	false
Entity File Number	0-26841
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-3117311
Entity Address, Address Line One	One Old Country Road
Entity Address, City or Town	Carle Place
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11514
City Area Code	516
Local Phone Number	237-6000
Title of 12(b) Security	Class A common stock
Trading Symbol	FLWS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		28,153,614
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		36,693,449

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 27, 2020	Jun. 28, 2020
Current assets:
Cash and cash equivalents	$ 370,586	$ 240,506
Trade receivables, net	72,590	15,178
Inventories	89,389	97,760
Prepaid and other	30,879	25,186
Total current assets	563,444	378,630
Property, plant and equipment, net	197,598	169,075
Operating lease right-of-use assets	88,096	66,760
Goodwill	208,048	74,711
Other intangibles, net	140,672	66,273
Other assets	24,402	18,986
Total assets	1,222,260	774,435
Current liabilities:
Accounts payable	104,965	25,306
Accrued expenses	285,822	141,741
Current maturities of long-term debt	15,000	5,000
Current portion of long-term operating lease liabilities	10,953	8,285
Total current liabilities	416,740	180,332
Long-term debt	170,912	87,559
Long-term operating lease liabilities	81,308	61,964
Deferred tax liabilities	27,244	28,632
Other liabilities	28,448	16,174
Total liabilities	724,652	374,661
Commitments and contingencies (See Note 13 and Note 14)
Stockholders’ equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued	0	0
Additional paid-in-capital	364,411	358,031
Retained earnings	271,438	167,523
Accumulated other comprehensive loss	(244)	(243)
Treasury stock, at cost, 18,509,689 and 17,963,551 Class A shares at December 27, 2020 and June 28, 2020, respectively, and 5,280,000 Class B shares at December 27, 2020 and June 28, 2020, respectively	(138,882)	(126,412)
Total stockholders’ equity	497,608	399,774
Total liabilities and stockholders’ equity	1,222,260	774,435
Common Class A [Member]
Stockholders’ equity:
Common stock	551	537
Common Class B [Member]
Stockholders’ equity:
Common stock	$ 334	$ 338

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 27, 2020	Jun. 28, 2020
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)	55,166,476	53,704,477
Treasury stock, shares (in shares)	18,509,689	17,963,551
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)	33,433,614	33,822,823
Treasury stock, shares (in shares)	5,280,000	5,280,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Net revenues	$ 877,256	$ 605,642	$ 1,161,028	$ 792,905
Cost of revenues	479,010	336,470	647,302	447,587
Gross profit	398,246	269,172	513,726	345,318
Operating expenses:
Marketing and sales	194,696	127,404	274,981	184,243
Technology and development	14,053	11,733	25,656	22,536
General and administrative	30,835	22,634	59,048	44,156
Depreciation and amortization	11,060	7,830	19,900	15,465
Total operating expenses	250,644	169,601	379,585	266,400
Operating income	147,602	99,571	134,141	78,918
Interest expense, net	1,927	985	2,967	1,580
Other (income) expense, net	(2,257)	(975)	(3,256)	(891)
Income before income taxes	147,932	99,561	134,430	78,229
Income tax expense	34,255	25,409	30,515	19,348
Net income	113,677	74,152	103,915	58,881
Other comprehensive income (loss) (currency translation & other miscellaneous items)	(1)	16	(1)	16
Comprehensive income	$ 113,676	$ 74,168	$ 103,914	$ 58,897
Basic net income per common share (in dollars per share)	$ 1.76	$ 1.15	$ 1.61	$ 0.91
Diluted net income per common share (in dollars per share)	$ 1.71	$ 1.12	$ 1.56	$ 0.89
Weighted average shares used in the calculation of net income per common share:
Basic (in shares)	64,728	64,687	64,524	64,595
Diluted (in shares)	66,543	66,401	66,593	66,486

Condensed Consolidated Statem_2

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 Jun. 30, 2019	53,084,127	33,822,823				22,489,093
Balance at Jun. 30, 2019	$ 530	$ 338	$ 349,319	$ 108,525	$ (269)	$ (115,732)	$ 342,711
Net income	0	0	0	58,881	0	0	58,881
Translation adjustment	$ 0	$ 0	0	0	16	$ 0	16
Stock-based compensation (in shares)	444,792	0				0
Stock-based compensation	$ 4	$ 0	4,041	0	0	$ 0	4,045
Exercise of stock options (in shares)	150,000	0				0
Exercise of stock options	$ 2	$ 0	283	0	0	$ 0	285
Acquisition of Class A treasury stock (in shares)	0	0				370,863
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (5,030)	(5,030)
Balance (in shares) at Dec. 29, 2019	53,678,919	33,822,823				22,859,956
Balance at Dec. 29, 2019	$ 536	$ 338	353,643	167,406	(253)	$ (120,762)	400,908
Balance (in shares) at Sep. 29, 2019	53,216,294	33,822,823				22,491,206
Balance at Sep. 29, 2019	$ 532	$ 338	351,304	93,254	(269)	$ (115,763)	329,396
Net income	0	0	0	74,152	0	0	74,152
Translation adjustment	$ 0	$ 0	0	0	16	$ 0	16
Stock-based compensation (in shares)	437,625	0				0
Stock-based compensation	$ 4	$ 0	2,276	0	0	$ 0	2,280
Exercise of stock options (in shares)	25,000	0				0
Exercise of stock options	$ 0	$ 0	63	0	0	$ 0	63
Acquisition of Class A treasury stock (in shares)	0	0				368,750
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (4,999)	(4,999)
Balance (in shares) at Dec. 29, 2019	53,678,919	33,822,823				22,859,956
Balance at Dec. 29, 2019	$ 536	$ 338	353,643	167,406	(253)	$ (120,762)	400,908
Balance (in shares) at Jun. 28, 2020	53,704,477	33,822,823				23,243,551
Balance at Jun. 28, 2020	$ 537	$ 338	358,031	167,523	(243)	$ (126,412)	399,774
Net income				103,915			103,915
Translation adjustment	$ 0	$ 0	0	0	(1)	$ 0	(1)
Stock-based compensation (in shares)	643,590	0				0
Stock-based compensation	$ 6	$ 0	5,352	0	0	$ 0	$ 5,358
Exercise of stock options (in shares)	429,200	0				0	429,200
Exercise of stock options	$ 4	$ 0	1,028	0	0	$ 0	$ 1,032
Conversion – Class B into Class A, shares issued (in shares)	389,209
Conversion – Class B into Class A	$ 4
Conversion – Class B into Class A, shares converted (in shares)		(389,209)
Conversion – Class B into Class A, amount converted		$ (4)
Conversion – Class B into Class A			0	0	0	$ 0	0
Conversion – Class B into Class A (in shares)						0
Acquisition of Class A treasury stock (in shares)	0	0				546,138
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (12,470)	(12,470)
Balance (in shares) at Dec. 27, 2020	55,166,476	33,433,614				23,789,689
Balance at Dec. 27, 2020	$ 551	$ 334	364,411	271,438	(244)	$ (138,882)	497,608
Balance (in shares) at Sep. 27, 2020	54,053,730	33,638,614				23,279,906
Balance at Sep. 27, 2020	$ 541	$ 336	360,643	157,761	(243)	$ (127,500)	391,538
Net income	0	0	0	113,677	0	0	113,677
Translation adjustment	$ 0	$ 0	0	0	(1)	$ 0	(1)
Stock-based compensation (in shares)	554,924	0				0
Stock-based compensation	$ 5	$ 0	2,960	0	0	$ 0	2,965
Exercise of stock options (in shares)	352,822	0				0
Exercise of stock options	$ 3	$ 0	808	0	0	$ 0	811
Conversion – Class B into Class A, shares issued (in shares)	205,000
Conversion – Class B into Class A	$ 2
Conversion – Class B into Class A, shares converted (in shares)		(205,000)
Conversion – Class B into Class A, amount converted		$ (2)
Conversion – Class B into Class A			0	0	0	$ 0	0
Conversion – Class B into Class A (in shares)						0
Acquisition of Class A treasury stock (in shares)	0	0				509,783
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (11,382)	(11,382)
Balance (in shares) at Dec. 27, 2020	55,166,476	33,433,614				23,789,689
Balance at Dec. 27, 2020	$ 551	$ 334	$ 364,411	$ 271,438	$ (244)	$ (138,882)	$ 497,608

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019
Operating activities:
Net income	$ 103,915	$ 58,881
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	19,900	15,465
Amortization of deferred financing costs	545	325
Deferred income taxes	(1,388)	(1,003)
Bad debt expense	341	731
Stock-based compensation	5,358	4,045
Other non-cash items	(321)	(187)
Changes in operating items:
Trade receivables	(56,372)	(32,918)
Inventories	25,369	25,358
Prepaid and other	(1,937)	1,021
Accounts payable and accrued expenses	212,340	90,166
Other assets and liabilities	8,897	272
Net cash provided by operating activities	316,647	162,156
Investing activities:
Acquisitions, net of cash acquired	(250,943)	(20,500)
Capital expenditures, net of non-cash expenditures	(15,708)	(10,712)
Purchase of equity investments	(1,285)	(1,001)
Net cash used in investing activities	(267,936)	(32,213)
Financing activities:
Acquisition of treasury stock	(12,470)	(5,030)
Proceeds from exercise of employee stock options	1,032	285
Proceeds from bank borrowings	265,000	20,000
Repayment of notes payable and bank borrowings	(170,000)	(22,500)
Debt issuance cost	(2,193)	(60)
Net cash provided by (used in) financing activities	81,369	(7,305)
Net change in cash and cash equivalents	130,080	122,638
Cash and cash equivalents:
Beginning of period	240,506	172,923
End of period	$ 370,586	$ 295,561

Note 1 - Accounting Policies

Note 1 - Accounting Policies	6 Months Ended
	Dec. 27, 2020
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 six December 27, 2020 not may June 27, 2021. Annual Report on Form 10 June 28, 2020 The Company’s quarterly results may second 50% 19” fourth 2020. first four 2021 third 19 19 second third fourth first 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. COVID- 19 March 27, 2020, 19, not three six December 27, 2020. The Company is closely monitoring the impact of COVID- 19 19 not 19, 19 December 27, 2020 not not three six December 27, 2020, 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 June 28, 2020 three six December 27, 2020. December 27, 2020 Recently Issued Accounting Pronouncements - Adopted Financial Instruments – Measurement of Credit Losses. In June 2016, No. 2016 13, 326 2016 13 2016 13 2021 September 27, 2020), no Goodwill – Impairment Test. In January 2017, No. 2017 04, 350 two 2017 04, 2021 September 27, 2020), no

Note 2 - Net Income Per Common

Note 2 - Net Income Per Common Share	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	2 Net Income Per Common Share The following table sets forth the computation of basic and diluted net income per common share: Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 (in thousands, except per share data) Numerator: Net income $ 113,677 $ 74,152 $ 103,915 $ 58,881 Denominator: Weighted average shares outstanding 64,728 64,687 64,524 64,595 Effect of dilutive securities: Employee stock options 824 997 951 1,046 Employee restricted stock awards 991 717 1,118 845 1,815 1,714 2,069 1,891 Adjusted weighted-average shares and assumed conversions 66,543 66,401 66,593 66,486 Net income per common share Basic $ 1.76 $ 1.15 $ 1.61 $ 0.91 Diluted $ 1.71 $ 1.12 $ 1.56 $ 0.89

Note 3 - Stock-based Compensati

Note 3 - Stock-based Compensation	6 Months Ended
	Dec. 27, 2020
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 June 28, 2020 The amounts of stock-based compensation expense recognized in the periods presented are as follows: Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 (in thousands) Stock options $ 9 $ 28 $ 18 $ 93 Restricted stock 2,956 2,252 5,340 3,952 Total 2,965 2,280 5,358 4,045 Deferred income tax benefit 785 300 1,388 1,003 Stock-based compensation expense, net $ 2,180 $ 1,980 $ 3,970 $ 3,042 Stock-based compensation is recorded within the following line items of operating expenses: Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 (in thousands) Marketing and sales $ 1,367 $ 1,047 $ 2,511 $ 1,863 Technology and development 226 173 417 292 General and administrative 1,372 1,060 2,430 1,890 Total $ 2,965 $ 2,280 $ 5,358 $ 4,045 Stock based compensation expense has not Note 12 Stock Options The following table summarizes stock option activity during the six December 27, 2020: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in years) (in thousands) Outstanding at June 28, 2020 1,230,000 $ 2.77 Granted - $ - Exercised (429,200 ) $ 2.41 Forfeited Outstanding at December 27, 2020 800,800 $ 2.97 1.0 $ 18,475 Exercisable at December 27, 2020 785,800 $ 2.63 0.9 $ 18,396 As of December 27, 2020, not 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 27, 2020: Shares Weighted Average Grant Date Fair Value Non-vested at June 28, 2020 1,608,468 $ 12.01 Granted 701,311 $ 21.83 Vested (643,590 ) $ 11.05 Forfeited (29,949 ) $ 19.80 Non-vested at December 27, 2020 1,636,240 $ 16.46 The fair value of non-vested shares is determined based on the closing stock price on the grant date. As of December 27, 2020,

Note 4 - Acquisition

Note 4 - Acquisition	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	4 Acquisition of PersonalizationMall On February 14, 2020, 1 800 800 1 800 July 20, 2020, August 3, 2020, The total purchase price was allocated to the identifiable assets acquired and liabilities assumed based on our preliminary estimates of their fair values on the acquisition date. The fair values assigned to PersonalizationMall’s tangible and intangible assets and liabilities assumed are considered preliminary and are based on the information that was available as of the date of the acquisition. The Company is in the process of finalizing its allocation and this may may not 12 may The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of assets acquired and liabilities assumed: PersonalizationMall’s Preliminary Purchase Price Allocation (in thousands) Assets Acquired: Inventories $ 16,998 Other assets 5,216 Property, plant and equipment 30,792 Operating lease right-of-use assets 21,438 Goodwill 133,337 Other intangibles 76,000 Total assets acquired $ 283,781 Liabilities assumed: Accounts payable and accrued expenses $ 11,400 Operating lease liabilities 21,438 Total liabilities assumed 32,838 Net assets acquired $ 250,943 The determination of the fair values of the acquired assets and assumed liabilities (and the related determination of estimated lives of depreciable tangible and identifiable intangible assets) requires significant judgment. The estimates and assumptions include the projected timing and amount of future cash flows and discount rates reflecting risk inherent in the future cash flows. Acquired inventory, consisting of raw materials and supplies, was valued at book value, as there have not Property, plant and equipment was valued at book value (cost less accumulated depreciation and amortization), due to the nature of the assets, which included recently acquired production equipment and leasehold improvements for PersonalizationMall's production facility, which became operational in September 2019. Based on the valuation as of August 3, 2020, not The estimated fair value of the acquired trade names was determined using the relief from royalty method, which is a risk-adjusted discounted cash flow approach. The relief from royalty method values an intangible asset by estimating the royalties saved through ownership of the asset. The relief from royalty method requires identifying the future revenue that would be generated by the trademark, multiplying it by a royalty rate deemed to be avoided through ownership of the asset and discounting the projected royalty savings amounts back to the acquisition date. The royalty rate used in the valuation was based on a consideration of market rates for similar categories of assets. The discount rate used in the valuation was based on PersonalizationMall's weighted average cost of capital, the riskiness of the earnings stream association with the trademarks and the overall composition of the acquired assets. The estimated fair value of the acquired customer lists was determined using the excess earnings method under the income approach. This method requires identifying the future revenue that would be generated by existing customers at the time of the acquisition, considering an appropriate attrition rate based on the historical experience of the Company. Appropriate expenses are then deducted from the revenues and economic rents are charged for the return on contributory assets. The after-tax cash flows attributable to the asset are discounted back to their net present value at an appropriate intangible asset rate of return and summed to calculate the value of the customer lists. As required by ASC 805, three six December 27, 2020 December 29, 2019, July 1, 2019. 805 not not not may Three months ended December 27, 2020 Three months ended December 29, 2019 Six months ended December 27, 2020 Six months ended December 29, 2019 (in thousands) Net Revenues $ 877,256 $ 687,596 $ 1,177,021 $ 896,297 Net Income 114,071 83,084 110,289 66,443 The unaudited pro forma amounts above include the following adjustments: - A decrease of operating expenses by $0.5 and $5.4 million during the three six December 27, 2020, not - An increase of operating expenses by $0.2 million during the six December 27, 2020 three six December 29, 2019, - An increase in interest expense of $0.6 million during the six December 27, 2020 three six December 29, 2019, - The combined pro forma results were tax effected using the Company's effective tax rate for the respective periods Net revenue attributable to PersonalizationMall, included within the three six December 27, 2020, Acquisition of Shari’s Berries On August 14, 2019, During the quarter ended June 28, 2020, The following table summarizes the allocation of the purchase price to the estimated fair values of assets acquired and liabilities assumed at the date of the acquisition: Shari’s Berries Purchase Price Allocation (in thousands) Current assets $ 1,029 Intangible assets 7,540 Goodwill 12,121 Total assets acquired 20,690 Current liabilities 190 Net assets acquired $ 20,500 The estimated fair value of the acquired tradenames was determined using the relief from royalty method, which is a risk-adjusted discounted cash flow approach. The relief from royalty method values an intangible asset by estimating the royalties saved through ownership of the asset. The relief from royalty method requires identifying the future revenue that would be generated by the trademark, multiplying it by a royalty rate deemed to be avoided through ownership of the asset and discounting the projected royalty savings amounts back to the acquisition date. The royalty rate used in the valuation was based on a consideration of market rates for similar categories of assets. The discount rate used in the valuation was based on the Company’s weighted average cost of capital, the riskiness of the earnings stream associated with the trademarks and the overall composition of the acquired assets. The estimated fair value of the acquired customer lists was determined using the excess earnings method under the income approach. This method requires identifying the future revenue that would be generated by existing customers at the time of the acquisition, considering an appropriate attrition rate based on the historical experience of the Company. Appropriate expenses are then deducted from the revenues and economic rents are charged for the return on contributory assets. The after-tax cash flows attributable to the asset are discounted back to their net present value at an appropriate intangible asset rate of return and summed to calculate the value of the customer lists. Operating results of the Shari’s Berries brand are reflected in the Company’s consolidated financial statements from the date of acquisition, within the Gourmet Foods & Gift Baskets segment. Pro forma results of operations have not not

Note 5 - Inventory

Note 5 - Inventory	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	5 The Company’s inventory, stated at cost, which is not December 27, 2020 June 28, 2020 (in thousands) Finished goods $ 37,030 $ 35,779 Work-in-process 10,864 16,536 Raw materials 41,495 45,445 Total inventory $ 89,389 $ 97,760

Note 6 - Goodwill and Intangibl

Note 6 - Goodwill and Intangible Assets	6 Months Ended
	Dec. 27, 2020
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: Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Total (in thousands) Balance at June 28, 2020 $ 17,441 $ - $ 57,270 $ 74,711 Acquisition of PersonalizationMall 133,337 - - 133,337 Balance at December 27, 2020 $ 150,778 $ - $ 57,270 $ 208,048 The Company’s other intangible assets consist of the following: December 27, 2020 June 28, 2020 Amortization Period Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net (in years) (in thousands) Intangible assets with determinable lives Investment in licenses 14-16 $ 7,420 $ 6,306 $ 1,114 $ 7,420 $ 6,253 $ 1,167 Customer lists 2-10 23,825 11,972 11,853 12,825 10,474 2,351 Other 5-14 2,946 2,432 514 2,946 2,382 564 Total intangible assets with determinable lives 34,191 20,710 13,481 23,191 19,109 4,082 Trademarks with indefinite lives 127191 - 127,191 62,191 - 62,191 Total identifiable intangible assets $ 161,382 $ 20,710 $ 140,672 $ 85,382 $ 19,109 $ 66,273 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 2021 2022 2023 2024 2025

Note 7 - Investments

Note 7 - Investments	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	7 Equity investments without a readily determinable fair value Investments in non-marketable equity instruments of private companies, where the Company does not December 27, 2020 June 28, 2020. 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. 27, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	8 The Company’s current and long-term debt consists of the following: December 27, 2020 June 28, 2020 (in thousands) Revolver (1) $ - $ - Term Loans (1) 190,000 95,000 Deferred financing costs (4,088 ) (2,441 ) Total debt 185,912 92,559 Less: current debt 15,000 5,000 Long-term debt $ 170,912 $ 87,559 ( 1 On May 31, 2019, “2019 2019 December 23, 2016 ( “2016 29 May 31, 2024, December 29, 2019, first eight 11 January 1 August 1, may 2019 may 1 2 On August 20, 2020, 2019 2019 "2020 1 January 1 August 1 May 31, 2024. may 2020 may 1 2 September 27, 2020, first four 11 The 2020 December 27, 2020. 2020 Future principal payments under the Term Loan and New Term Loan are as follows: $5.0 million – remainder of fiscal 2021, 2022, 2023 2024.

Note 9 - Property, Plant and Eq

Note 9 - Property, Plant and Equipment	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	9 The Company’s property, plant and equipment consists of the following: December 27, 2020 June 28, 2020 (in thousands) Land $ 30,789 $ 30,789 Orchards in production and land improvements 18,548 17,139 Building and building improvements 61,679 61,159 Leasehold improvements 25,669 13,675 Production equipment 78,040 57,904 Furniture and fixtures 7,995 7,444 Computer and telecommunication equipment 57,005 55,381 Software 162,304 151,264 Capital projects in progress - orchards 7,291 8,130 Property, plant and equipment, gross 449,320 402,885 Accumulated depreciation and amortization (251,722 ) (233,810 ) Property, plant and equipment, net $ 197,598 $ 169,075

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	6 Months Ended
	Dec. 27, 2020
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) As of December 27, 2020: Trading securities held in a “rabbi trust” (1) $ 18,617 $ 18,617 $ - $ - Total assets (liabilities) at fair value $ 18,617 $ 18,617 $ - $ - As of June 28, 2020: Trading securities held in a “rabbi trust” (1) $ 13,442 $ 13,442 $ - $ - Total assets (liabilities) at fair value $ 13,442 $ 13,442 $ - $ - ( 1 The Company has established a 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	6 Months Ended
	Dec. 27, 2020
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 six December 27, 2020 2021 2020 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 2018, 2019 2016. 2015 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 27, 2020, twelve

Note 12 - Business Segments

Note 12 - Business Segments	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	12 The Company’s management reviews the results of its operations by the following three • Consumer Floral & Gifts, • BloomNet, and • Gourmet Foods & 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 December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Net Revenues: (in thousands) Segment Net Revenues: Consumer Floral & Gifts $ 305,357 $ 115,716 $ 466,903 $ 206,484 BloomNet 34,051 25,722 66,789 51,162 Gourmet Foods & Gift Baskets 538,265 464,584 628,194 535,799 Corporate 135 165 241 360 Intercompany eliminations (552 ) (545 ) (1,099 ) (900 ) Total net revenues $ 877,256 $ 605,642 $ 1,161,028 $ 792,905 Operating Income: Segment Contribution Margin: Consumer Floral & Gifts $ 45,657 $ 10,890 $ 64,893 $ 19,414 BloomNet 12,141 9,134 22,562 17,491 Gourmet Foods & Gift Baskets 135,621 113,387 133,040 106,787 Segment Contribution Margin Subtotal 193,419 133,411 220,495 143,692 Corporate (a) (34,757 ) (26,010 ) (66,454 ) (49,309 ) Depreciation and amortization (11,060 ) (7,830 ) (19,900 ) (15,465 ) Operating income $ 147,602 $ 99,571 $ 134,141 $ 78,918 (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 27, 2020 December 29, 2019 Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Net revenues (in thousands) E-commerce $ 303,275 $ - $ 474,535 $ 777,810 $ 113,858 $ - $ 373,226 $ 487,084 Retail 1,210 - 4,088 5,298 1,082 - 23,120 24,202 Wholesale 9,150 59,642 68,792 - 7,270 68,238 75,508 BloomNet services 24,901 - 24,901 - 18,452 - 18,452 Other 872 - - 872 776 - - 776 Corporate - - 135 - - - 165 Eliminations - - (552 ) - - - (545 ) Net revenues $ 305,357 $ 34,051 $ 538,265 $ 877,256 $ 115,716 $ 25,722 $ 464,584 $ 605,642 Six months ended Six months ended December 2 7 , 2020 December 29 , 2019 Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Net revenues (in thousands) E-commerce $ 463,067 $ - $ 553,606 $ 1,016,673 $ 202,946 $ - $ 413,188 $ 616,134 Retail 2,157 - 5,661 7,818 2,021 - 30,610 32,631 Wholesale - 20,443 68,927 89,370 - 16,018 92,001 108,019 BloomNet services - 46,346 - 46,346 - 35,144 - 35,144 Other 1,679 - - 1,679 1,517 - - 1,517 Corporate - - - 241 - - - 360 Eliminations - - - (1,099 ) - - - (900 ) Net revenues $ 466,903 $ 66,789 $ 628,194 $ 1,161,028 $ 206,484 $ 51,162 $ 535,799 $ 792,905

Note 13 - Leases

Note 13 - Leases	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	13 The Company currently leases plants, warehouses, offices, store facilities, and equipment under various leases through fiscal 2034. may 842. At contract inception, we determine whether a contract is, or contains, a lease by determining whether it conveys the right to control the use of the identified asset for a period of time, by assessing whether we have the right to obtain substantially all of the economic benefits from use of the identified asset and the right to direct the use of the identified asset. At the lease commencement date, we determine if a lease should be classified as an operating or a finance lease (we currently have no not 12 We recognize expense for our operating leases on a straight-line basis over the lease term. As these leases expire, it can be expected that in the normal course of business they will be renewed or replaced. Renewal option periods are included in the measurement of lease liability, where the exercise is reasonably certain to occur. Key estimates and judgments in accounting for leases include how we determine: ( 1 2 3 Additional information related to our leases is as follows: Three Months Ended Six Months Ended December 27, 2020 December 27, 2020 (in thousands) Lease costs: Operating lease costs $ 3,679 $ 7,026 Variable lease costs 5,451 9,650 Short-term lease cost 3,420 5,227 Sublease income (201 ) (406 ) Total lease costs $ 12,349 $ 21,497 Six Months Ended December 27, 2020 (in thousands) Cash paid for amounts included in measurement of operating lease liabilities $ 6,507 Right-of-use assets obtained in exchange for new operating lease liabilities $ 26,919 December 2 7 , 20 20 (in thousands) Weighted-average remaining lease term - operating leases 9.1 years Weighted-discount rate - operating leases 3.8 % Maturities of lease liabilities in accordance with ASC 842 December 27, 2020 Remainder of 2021 $ 7,191 2022 13,916 2023 13,593 2024 13,047 2025 10,665 Thereafter 52,105 Total Future Minimum Lease Payments 110,517 Less Imputed Remaining Interest 18,256 Total $ 92,261

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	6 Months Ended
	Dec. 27, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14 Litigation Bed Bath & Beyond On April 1, 2020, Bed Bath & Beyond Inc. v. 1 800 February 14, 2020, 19. April 17, 2020 April 9, 2020 September 2020. July 21, 2020, August 3, 2020. In addition, 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 final resolution of such claims, lawsuits and pending actions will not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 27, 2020
Accounting Policies [Abstract]
Basis of Accounting, 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 27, 2020 not may June 27, 2021. Annual Report on Form 10 June 28, 2020 The Company’s quarterly results may second 50% 19” fourth 2020. first four 2021 third 19 19 second third fourth first
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.
Effect of Covid-19 Pandemic, Policy [Policy Text Block]	COVID- 19 March 27, 2020, 19, not three six December 27, 2020. The Company is closely monitoring the impact of COVID- 19 19 not 19, 19 December 27, 2020 not not three six December 27, 2020,
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 June 28, 2020 three six December 27, 2020. December 27, 2020
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements - Adopted Financial Instruments – Measurement of Credit Losses. In June 2016, No. 2016 13, 326 2016 13 2016 13 2021 September 27, 2020), no Goodwill – Impairment Test. In January 2017, No. 2017 04, 350 two 2017 04, 2021 September 27, 2020), no

Note 2 - Net Income Per Commo_2

Note 2 - Net Income Per Common Share (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 (in thousands, except per share data) Numerator: Net income $ 113,677 $ 74,152 $ 103,915 $ 58,881 Denominator: Weighted average shares outstanding 64,728 64,687 64,524 64,595 Effect of dilutive securities: Employee stock options 824 997 951 1,046 Employee restricted stock awards 991 717 1,118 845 1,815 1,714 2,069 1,891 Adjusted weighted-average shares and assumed conversions 66,543 66,401 66,593 66,486 Net income per common share Basic $ 1.76 $ 1.15 $ 1.61 $ 0.91 Diluted $ 1.71 $ 1.12 $ 1.56 $ 0.89

Note 3 - Stock-based Compensa_2

Note 3 - Stock-based Compensation (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 (in thousands) Stock options $ 9 $ 28 $ 18 $ 93 Restricted stock 2,956 2,252 5,340 3,952 Total 2,965 2,280 5,358 4,045 Deferred income tax benefit 785 300 1,388 1,003 Stock-based compensation expense, net $ 2,180 $ 1,980 $ 3,970 $ 3,042
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 (in thousands) Marketing and sales $ 1,367 $ 1,047 $ 2,511 $ 1,863 Technology and development 226 173 417 292 General and administrative 1,372 1,060 2,430 1,890 Total $ 2,965 $ 2,280 $ 5,358 $ 4,045
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in years) (in thousands) Outstanding at June 28, 2020 1,230,000 $ 2.77 Granted - $ - Exercised (429,200 ) $ 2.41 Forfeited Outstanding at December 27, 2020 800,800 $ 2.97 1.0 $ 18,475 Exercisable at December 27, 2020 785,800 $ 2.63 0.9 $ 18,396
Schedule of Nonvested Share Activity [Table Text Block]	Shares Weighted Average Grant Date Fair Value Non-vested at June 28, 2020 1,608,468 $ 12.01 Granted 701,311 $ 21.83 Vested (643,590 ) $ 11.05 Forfeited (29,949 ) $ 19.80 Non-vested at December 27, 2020 1,636,240 $ 16.46

Note 4 - Acquisition (Tables)

Note 4 - Acquisition (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	PersonalizationMall’s Preliminary Purchase Price Allocation (in thousands) Assets Acquired: Inventories $ 16,998 Other assets 5,216 Property, plant and equipment 30,792 Operating lease right-of-use assets 21,438 Goodwill 133,337 Other intangibles 76,000 Total assets acquired $ 283,781 Liabilities assumed: Accounts payable and accrued expenses $ 11,400 Operating lease liabilities 21,438 Total liabilities assumed 32,838 Net assets acquired $ 250,943 Shari’s Berries Purchase Price Allocation (in thousands) Current assets $ 1,029 Intangible assets 7,540 Goodwill 12,121 Total assets acquired 20,690 Current liabilities 190 Net assets acquired $ 20,500
Business Acquisition, Pro Forma Information [Table Text Block]	Three months ended December 27, 2020 Three months ended December 29, 2019 Six months ended December 27, 2020 Six months ended December 29, 2019 (in thousands) Net Revenues $ 877,256 $ 687,596 $ 1,177,021 $ 896,297 Net Income 114,071 83,084 110,289 66,443

Note 5 - Inventory (Tables)

Note 5 - Inventory (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 27, 2020 June 28, 2020 (in thousands) Finished goods $ 37,030 $ 35,779 Work-in-process 10,864 16,536 Raw materials 41,495 45,445 Total inventory $ 89,389 $ 97,760

Note 6 - Goodwill and Intangi_2

Note 6 - Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Schedule of Goodwill [Table Text Block]	Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Total (in thousands) Balance at June 28, 2020 $ 17,441 $ - $ 57,270 $ 74,711 Acquisition of PersonalizationMall 133,337 - - 133,337 Balance at December 27, 2020 $ 150,778 $ - $ 57,270 $ 208,048
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	December 27, 2020 June 28, 2020 Amortization Period Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net (in years) (in thousands) Intangible assets with determinable lives Investment in licenses 14-16 $ 7,420 $ 6,306 $ 1,114 $ 7,420 $ 6,253 $ 1,167 Customer lists 2-10 23,825 11,972 11,853 12,825 10,474 2,351 Other 5-14 2,946 2,432 514 2,946 2,382 564 Total intangible assets with determinable lives 34,191 20,710 13,481 23,191 19,109 4,082 Trademarks with indefinite lives 127191 - 127,191 62,191 - 62,191 Total identifiable intangible assets $ 161,382 $ 20,710 $ 140,672 $ 85,382 $ 19,109 $ 66,273

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Schedule of Debt [Table Text Block]	December 27, 2020 June 28, 2020 (in thousands) Revolver (1) $ - $ - Term Loans (1) 190,000 95,000 Deferred financing costs (4,088 ) (2,441 ) Total debt 185,912 92,559 Less: current debt 15,000 5,000 Long-term debt $ 170,912 $ 87,559

Note 9 - Property, Plant and _2

Note 9 - Property, Plant and Equipment (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 27, 2020 June 28, 2020 (in thousands) Land $ 30,789 $ 30,789 Orchards in production and land improvements 18,548 17,139 Building and building improvements 61,679 61,159 Leasehold improvements 25,669 13,675 Production equipment 78,040 57,904 Furniture and fixtures 7,995 7,444 Computer and telecommunication equipment 57,005 55,381 Software 162,304 151,264 Capital projects in progress - orchards 7,291 8,130 Property, plant and equipment, gross 449,320 402,885 Accumulated depreciation and amortization (251,722 ) (233,810 ) Property, plant and equipment, net $ 197,598 $ 169,075

Note 10 - Fair Value Measurem_2

Note 10 - Fair Value Measurements (Tables)	6 Months Ended
	Dec. 27, 2020
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) As of December 27, 2020: Trading securities held in a “rabbi trust” (1) $ 18,617 $ 18,617 $ - $ - Total assets (liabilities) at fair value $ 18,617 $ 18,617 $ - $ - As of June 28, 2020: Trading securities held in a “rabbi trust” (1) $ 13,442 $ 13,442 $ - $ - Total assets (liabilities) at fair value $ 13,442 $ 13,442 $ - $ -

Note 12 - Business Segments (Ta

Note 12 - Business Segments (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Net Revenues: (in thousands) Segment Net Revenues: Consumer Floral & Gifts $ 305,357 $ 115,716 $ 466,903 $ 206,484 BloomNet 34,051 25,722 66,789 51,162 Gourmet Foods & Gift Baskets 538,265 464,584 628,194 535,799 Corporate 135 165 241 360 Intercompany eliminations (552 ) (545 ) (1,099 ) (900 ) Total net revenues $ 877,256 $ 605,642 $ 1,161,028 $ 792,905 Operating Income: Segment Contribution Margin: Consumer Floral & Gifts $ 45,657 $ 10,890 $ 64,893 $ 19,414 BloomNet 12,141 9,134 22,562 17,491 Gourmet Foods & Gift Baskets 135,621 113,387 133,040 106,787 Segment Contribution Margin Subtotal 193,419 133,411 220,495 143,692 Corporate (a) (34,757 ) (26,010 ) (66,454 ) (49,309 ) Depreciation and amortization (11,060 ) (7,830 ) (19,900 ) (15,465 ) Operating income $ 147,602 $ 99,571 $ 134,141 $ 78,918
Disaggregation of Revenue [Table Text Block]	Three Months Ended Three Months Ended December 27, 2020 December 29, 2019 Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Net revenues (in thousands) E-commerce $ 303,275 $ - $ 474,535 $ 777,810 $ 113,858 $ - $ 373,226 $ 487,084 Retail 1,210 - 4,088 5,298 1,082 - 23,120 24,202 Wholesale 9,150 59,642 68,792 - 7,270 68,238 75,508 BloomNet services 24,901 - 24,901 - 18,452 - 18,452 Other 872 - - 872 776 - - 776 Corporate - - 135 - - - 165 Eliminations - - (552 ) - - - (545 ) Net revenues $ 305,357 $ 34,051 $ 538,265 $ 877,256 $ 115,716 $ 25,722 $ 464,584 $ 605,642 Six months ended Six months ended December 2 7 , 2020 December 29 , 2019 Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Baskets Consolidated Net revenues (in thousands) E-commerce $ 463,067 $ - $ 553,606 $ 1,016,673 $ 202,946 $ - $ 413,188 $ 616,134 Retail 2,157 - 5,661 7,818 2,021 - 30,610 32,631 Wholesale - 20,443 68,927 89,370 - 16,018 92,001 108,019 BloomNet services - 46,346 - 46,346 - 35,144 - 35,144 Other 1,679 - - 1,679 1,517 - - 1,517 Corporate - - - 241 - - - 360 Eliminations - - - (1,099 ) - - - (900 ) Net revenues $ 466,903 $ 66,789 $ 628,194 $ 1,161,028 $ 206,484 $ 51,162 $ 535,799 $ 792,905

Note 13 - Leases (Tables)

Note 13 - Leases (Tables)	6 Months Ended
	Dec. 27, 2020
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Six Months Ended December 27, 2020 December 27, 2020 (in thousands) Lease costs: Operating lease costs $ 3,679 $ 7,026 Variable lease costs 5,451 9,650 Short-term lease cost 3,420 5,227 Sublease income (201 ) (406 ) Total lease costs $ 12,349 $ 21,497 Six Months Ended December 27, 2020 (in thousands) Cash paid for amounts included in measurement of operating lease liabilities $ 6,507 Right-of-use assets obtained in exchange for new operating lease liabilities $ 26,919 December 2 7 , 20 20 (in thousands) Weighted-average remaining lease term - operating leases 9.1 years Weighted-discount rate - operating leases 3.8 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Remainder of 2021 $ 7,191 2022 13,916 2023 13,593 2024 13,047 2025 10,665 Thereafter 52,105 Total Future Minimum Lease Payments 110,517 Less Imputed Remaining Interest 18,256 Total $ 92,261

Note 1 - Accounting Policies (D

Note 1 - Accounting Policies (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 27, 2020	Dec. 27, 2020	Jun. 28, 2020
Contract with Customer, Liability, Current	$ 61.8	$ 61.8	$ 25.9
Contract with Customer, Liability, Revenue Recognized	$ 8.7	$ 23.7

Note 2 - Net Income Per Commo_3

Note 2 - Net Income Per Common Share - Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Net income	$ 113,677	$ 74,152	$ 103,915	$ 58,881
Basic (in shares)	64,728	64,687	64,524	64,595
Effect of dilutive securities (in shares)	1,815	1,714	2,069	1,891
Adjusted weighted-average shares and assumed conversions (in shares)	66,543	66,401	66,593	66,486
Net income per common share
Basic net income per common share (in dollars per share)	$ 1.76	$ 1.15	$ 1.61	$ 0.91
Diluted net income per common share (in dollars per share)	$ 1.71	$ 1.12	$ 1.56	$ 0.89
Share-based Payment Arrangement, Option [Member]
Effect of dilutive securities (in shares)	824	997	951	1,046
Restricted Stock [Member]
Effect of dilutive securities (in shares)	991	717	1,118	845

Note 3 - Stock-based Compensa_3

Note 3 - Stock-based Compensation (Details Textual) $ in Millions	6 Months Ended
	Dec. 27, 2020USD ($)
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 0.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years 10 months 24 days
Restricted Stock [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 19.4
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 10 months 24 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. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Allocated share-based compensation expense	$ 2,965	$ 2,280	$ 5,358	$ 4,045
Deferred income tax benefit	785	300	1,388	1,003
Allocated share-based compensation expense, net	2,180	1,980	3,970	3,042
Share-based Payment Arrangement, Option [Member]
Allocated share-based compensation expense	9	28	18	93
Restricted Stock [Member]
Allocated share-based compensation expense	$ 2,956	$ 2,252	$ 5,340	$ 3,952

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. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Allocated share-based compensation expense	$ 2,965	$ 2,280	$ 5,358	$ 4,045
Selling and Marketing Expense [Member]
Allocated share-based compensation expense	1,367	1,047	2,511	1,863
Technology and Development [Member]
Allocated share-based compensation expense	226	173	417	292
General and Administrative Expense [Member]
Allocated share-based compensation expense	$ 1,372	$ 1,060	$ 2,430	$ 1,890

Note 3 - Stock-based Compensa_6

Note 3 - Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 27, 2020
Outstanding, options (in shares)	1,230,000
Outstanding, weighted average exercise price (in dollars per share)	$ 2.77
Granted, options (in shares)	0
Granted, weighted average exercise price (in dollars per share)	$ 0
Exercised, options (in shares)	(429,200)
Exercised, weighted average exercise price (in dollars per share)	$ 2.41
Outstanding, options (in shares)	800,800
Outstanding, weighted average exercise price (in dollars per share)	$ 2.97
Outstanding, weighted average remaining contractual term (Year)	1 year
Outstanding, aggregate intrinsic value	$ 18,475
Exercisable, options (in shares)	785,800
Exercisable, weighted average exercise price (in dollars per share)	$ 2.63
Exercisable, weighted average remaining contractual term (Year)	10 months 24 days
Exercisable, aggregate intrinsic value	$ 18,396

Note 3 - Stock-based Compensa_7

Note 3 - Stock-based Compensation - Non-vested Restricted Stock Activity (Details) - Restricted Stock [Member]	6 Months Ended
	Dec. 27, 2020$ / sharesshares
Non-vested (in shares) | shares	1,608,468
Non-vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 12.01
Granted (in shares) | shares	701,311
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 21.83
Vested (in shares) | shares	(643,590)
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 11.05
Forfeited (in shares) | shares	(29,949)
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 19.80
Non-vested (in shares) | shares	1,636,240
Non-vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 16.46

Note 4 - Acquisition (Details T

Note 4 - Acquisition (Details Textual) $ in Thousands	Aug. 03, 2020USD ($)ft²	Jul. 21, 2020USD ($)	Aug. 14, 2019USD ($)	Dec. 27, 2020USD ($)	Dec. 29, 2019USD ($)	Dec. 29, 2019USD ($)	Dec. 27, 2020USD ($)	Dec. 29, 2019USD ($)	Jul. 20, 2020USD ($)	Jun. 28, 2020USD ($)	Feb. 14, 2020USD ($)
Goodwill, Ending Balance				$ 208,048			$ 208,048			$ 74,711
Operating Expenses, Total				250,644	$ 169,601		$ 379,585	$ 266,400
The New Term Loan [Member] | The 2019 Credit Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage					3.50%	3.50%		3.50%
Customer Lists [Member]
Finite-Lived Intangible Asset, Useful Life (Year)							10 years
Personalization Mall [Member]
Business Combination, Contract Purchase Price									$ 245,000		$ 252,000
Business Combination, Consideration Transferred, Total	$ 250,900	$ 245,000
Goodwill, Ending Balance	133,337
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				122,200			$ 142,600
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				24,300			25,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	76,000
Personalization Mall [Member] | Transaction and Litigation Costs [Member]
Operating Expenses, Total				$ (500)			(5,400)
Personalization Mall [Member] | Amortization Expense Related to Definite Lived Intangible Assets [Member]
Operating Expenses, Total						$ 700	200	$ 1,400
Personalization Mall [Member] | Debt, Incremental Interest and Deferred Financing Costs [Member]
Interest Expense, Total					$ 1,000		$ 600	$ 2,100
Personalization Mall [Member] | Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	65,000
Personalization Mall [Member] | Customer Lists [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 11,000
Finite-Lived Intangible Asset, Useful Life (Year)	4 years
Personalization Mall [Member] | State-of-the-art Production and Distribution Facility [Member]
Area of Real Estate Property (Square Foot) | ft²	360,000
Shari's Berries [Member]
Business Combination, Consideration Transferred, Total			$ 20,500
Goodwill, Ending Balance			12,121
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			7,540
Shari's Berries [Member] | Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			$ 6,900
Shari's Berries [Member] | Customer Lists [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			2 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			$ 600

Note 4 - Acquisition - Prelimin

Note 4 - Acquisition - Preliminary Allocation of the Purchase Price to the Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 27, 2020	Aug. 03, 2020	Jun. 28, 2020	Aug. 14, 2019
Assets Acquired:
Goodwill	$ 208,048		$ 74,711
Liabilities assumed:
Goodwill, Ending Balance	$ 208,048		$ 74,711
Shari's Berries [Member]
Assets Acquired:
Goodwill				$ 12,121
Other intangibles				7,540
Total assets acquired				20,690
Liabilities assumed:
Accounts payable and accrued expenses				190
Net assets acquired				20,500
Current assets				1,029
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total				7,540
Goodwill, Ending Balance				12,121
Total assets acquired				$ 20,690
Personalization Mall [Member]
Assets Acquired:
Inventories		$ 16,998
Other assets		5,216
Property, plant and equipment		30,792
Operating lease right-of-use assets		21,438
Goodwill		133,337
Other intangibles		76,000
Total assets acquired		283,781
Liabilities assumed:
Accounts payable and accrued expenses		11,400
Operating lease liabilities		21,438
Total liabilities assumed		32,838
Net assets acquired		250,943
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total		76,000
Goodwill, Ending Balance		133,337
Total assets acquired		$ 283,781

Note 4 - Acquisition - Pro Form

Note 4 - Acquisition - Pro Forma Information (Details) - Personalization Mall [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Net Revenues	$ 877,256	$ 687,596	$ 1,177,021	$ 896,297
Net Income	$ 114,071	$ 83,084	$ 110,289	$ 66,443

Note 5 - Inventory - Summary of

Note 5 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands	Dec. 27, 2020	Jun. 28, 2020
Finished goods	$ 37,030	$ 35,779
Work-in-process	10,864	16,536
Raw materials	41,495	45,445
Total inventory	$ 89,389	$ 97,760

Note 6 - Goodwill and Intangi_3

Note 6 - Goodwill and Intangible Assets (Details Textual) $ in Millions	Dec. 27, 2020USD ($)
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 1.8
Finite-Lived Intangible Asset, Expected Amortization, Year One	3.3
Finite-Lived Intangible Asset, Expected Amortization, Year Two	3.3
Finite-Lived Intangible Asset, Expected Amortization, Year Three	3.3
Finite-Lived Intangible Asset, Expected Amortization, Year Four	0.8
Finite-Lived Intangible Asset, Expected Amortization, after Year Four	$ 1

Note 6 - Goodwill and Intangi_4

Note 6 - Goodwill and Intangible Assets - Goodwill by Segment (Details) $ in Thousands	6 Months Ended
	Dec. 27, 2020USD ($)
Goodwill	$ 74,711
Acquisition of PersonalizationMall	133,337
Goodwill	208,048
Consumer Floral [Member]
Goodwill	17,441
Acquisition of PersonalizationMall	133,337
Goodwill	150,778
BloomNet Wire Service [Member]
Goodwill	0
Acquisition of PersonalizationMall	0
Goodwill	0
Gourmet Foods and Gift Baskets [Member]
Goodwill	57,270
Acquisition of PersonalizationMall	0
Goodwill	$ 57,270

Note 6 - Goodwill and Intangi_5

Note 6 - Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 27, 2020	Jun. 28, 2020
Intangible assets with determinable lives, gross	$ 34,191	$ 23,191
Accumulated amortization	20,710	19,109
Intangible assets with determinable lives, net	13,481	4,082
Trademarks with indefinite lives, gross	127,191	62,191
Total identifiable intangible assets, gross	161,382	85,382
Accumulated amortization	20,710	19,109
Total identifiable intangible assets, net	$ 140,672	66,273
Licensing Agreements [Member]
Finite-lived intangible asset, useful life (Year)	16 years
Intangible assets with determinable lives, gross	$ 7,420	7,420
Accumulated amortization	6,306	6,253
Intangible assets with determinable lives, net	1,114	1,167
Accumulated amortization	$ 6,306	6,253
Licensing Agreements [Member] | Minimum [Member]
Finite-lived intangible asset, useful life (Year)	14 years
Customer Lists [Member]
Finite-lived intangible asset, useful life (Year)	10 years
Intangible assets with determinable lives, gross	$ 23,825	12,825
Accumulated amortization	11,972	10,474
Intangible assets with determinable lives, net	11,853	2,351
Accumulated amortization	$ 11,972	10,474
Customer Lists [Member] | Minimum [Member]
Finite-lived intangible asset, useful life (Year)	2 years
Other Intangible Assets [Member]
Finite-lived intangible asset, useful life (Year)	14 years
Intangible assets with determinable lives, gross	$ 2,946	2,946
Accumulated amortization	2,432	2,382
Intangible assets with determinable lives, net	514	564
Accumulated amortization	$ 2,432	$ 2,382
Other Intangible Assets [Member] | Minimum [Member]
Finite-lived intangible asset, useful life (Year)	5 years

Note 7 - Investments (Details T

Note 7 - Investments (Details Textual) - USD ($) $ in Millions	Dec. 27, 2020	Jun. 28, 2020
Cost Method Investments	$ 4.1	$ 2.8

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) $ in Millions		Sep. 28, 2021	Aug. 20, 2020USD ($)	May 31, 2019USD ($)	May 31, 2024	Dec. 27, 2020USD ($)	Aug. 19, 2020USD ($)	Jun. 28, 2020USD ($)	May 30, 2019USD ($)
The 2019 Credit Agreement [Member] | Revolving Credit Facility [Member]
Proceeds from Lines of Credit, Total				$ 200
Line of Credit Facility, Maximum Borrowing Capacity				100
The 2020 Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 250				$ 200
Debt Instrument, Working Capital Sublimit			200				175
Debt Instrument, Seasonally-reduced Revolver Commitments			$ 125				$ 100
Debt Instrument, Number of Periodic Payments			15
The 2020 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%
The 2020 Credit Agreement [Member] | New York Fed Bank Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Term Loan [Member]
Long-term Debt, Total	[1]					$ 190		$ 95
Term Loan [Member] | The 2019 Credit Agreement [Member]
Long-term Debt, Total				$ 100					$ 97
Debt Instrument, Number of Installment Payments				19
Debt Instrument, Principal Payment Percentage In First Eight Payments				5.00%
Debt Instrument, Principal Payment Percentage In Remaining Eleven Payments				10.00%
Debt Instrument, Principal Payment Due Upon Maturity				$ 62.5
Term Loan [Member] | The 2019 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate, Increase (Decrease)				(0.25%)
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] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Base Rate, Basis Spread on Variable Rate				0.50%
The New Term Loan [Member] | The 2020 Credit Agreement [Member]
Debt Instrument, Face Amount			$ 100
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid			$ 67.5
Long-Term Debt, Maturity, Remainder of Fiscal Year						5
Long-Term Debt, Maturity, Year One						20
Long-Term Debt, Maturity, Year Two						20
Long-Term Debt, Maturity, Year Three						$ 145
The New Term Loan [Member] | The 2020 Credit Agreement [Member] | Forecast [Member]
Debt Instrument, Principal Payment Percentage In Remaining Eleven Payments					10.00%
Debt Instrument Principal Payment Percentage in First Four Payments		5.00%
[1]	On May 31, 2019, the Company and certain of its U.S. subsidiaries entered into a Second Amended and Restated Credit Agreement (the "2019 Credit Agreement") with JPMorgan Chase Bank, N.A. as administrative agent, and a group of lenders. The 2019 Credit Agreement amended and restated the Company's existing amended and restated credit agreement dated as of December 23, 2016 (the "2016 Credit Agreement") to, among other modifications: (i) increase the amount of the outstanding term loan ("Term Loan") from approximately $97 million to $100 million, (ii) extend the maturity date of the outstanding Term Loan and the revolving credit facility ("Revolver") by approximately 29 months to May 31, 2024, and (iii) decrease the applicable interest rate margins for LIBOR and base rate loans by 25 basis points. The Term Loan is payable in 19 quarterly installments of principal and interest beginning on December 29, 2019, with escalating principal payments, at the rate of 5.0% per annum for the first eight payments, and 10.0% per annum for the remaining 11 payments, with the remaining balance of $62.5 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. For each borrowing under the 2019 Credit Agreement, the Company may elect that such borrowing bear interest at an annual rate equal to either: (1) a base rate plus an applicable margin varying based on the Company's consolidated leverage ratio, where the base rate is the highest of (a) the prime rate, (b) the New York fed bank rate plus 0.5%, and (c) a LIBOR rate plus 1%, or (2) an adjusted LIBOR rate plus an applicable margin varying based on the Company's consolidated leverage ratio. On August 20, 2020, the Company, the Subsidiary Guarantors, JPMorgan Chase Bank, N.A. as administrative agent, and a group of lenders entered into a First Amendment (the "First Amendment") to the 2019 Credit Agreement. The First Amendment amends the 2019 Credit Agreement (together the "2020 Credit Agreement") to, among other modifications, (i) increase the aggregate principal amount of the existing Revolver commitments from $200.0 million to $250.0 million, (ii) establish a new tranche of term A-1 loans in an aggregate principal amount of $100.0 million (the “New Term Loan”), (iii) increase the working capital sublimit with respect to the Revolver from $175.0 million to $200.0 million, and (iv) increase the seasonally-reduced Revolver commitments from $100.0 million to $125.0 million for the period from January 1 through August 1 for each fiscal year of the Company. The New Term Loan will mature on May 31, 2024. Proceeds of the borrowing under the New Term Loan may be used for working capital and general corporate purposes of the Company and its subsidiaries, subject to certain restrictions. For each borrowing under the 2020 Credit Agreement, the Company may elect that such borrowing bear interest at an annual rate equal to either (1) a base rate plus the applicable margin for the relevant class of borrowing, which such margins vary based on the Company's consolidated leverage ratio, where the base rate is the highest of (a) the prime rate, (b) the New York fed bank rate plus 0.5%, and (c) a LIBOR rate plus 1%, or (2) an adjusted LIBOR rate plus an applicable margin varying based on the Company's consolidated leverage ratio. The New Term Loan is payable in 15 quarterly installments of principal and interest beginning on September 27, 2020, with escalating principal payments, at the rate of 5.0% per annum for the first four payments, and 10.0% per annum for the remaining 11 payments, with the remaining balance of $67.5 million due upon maturity. The 2020 Credit Agreement requires that while any borrowings or commitments are outstanding the Company comply with certain financial covenants and affirmative covenants as well as certain negative covenants that, subject to certain exceptions, limit the Company’s ability to, among other things, incur additional indebtedness, make certain investments and make certain restricted payments. The Company was in compliance with these covenants as of December 27, 2020. The 2020 Credit Agreement is secured by substantially all of the assets of the Company.

Note 8 - Debt - Summary of Curr

Note 8 - Debt - Summary of Current and Long-term Debt (Details) - USD ($) $ in Thousands		Dec. 27, 2020	Jun. 28, 2020
Deferred financing costs		$ (4,088)	$ (2,441)
Debt instrument, carrying amount		185,912	92,559
Less: current debt		15,000	5,000
Long-term debt		170,912	87,559
Line of Credit [Member]
Revolver	[1]	0	0
Term Loan [Member]
Term Loans (1)	[1]	$ 190,000	$ 95,000
[1]	On May 31, 2019, the Company and certain of its U.S. subsidiaries entered into a Second Amended and Restated Credit Agreement (the "2019 Credit Agreement") with JPMorgan Chase Bank, N.A. as administrative agent, and a group of lenders. The 2019 Credit Agreement amended and restated the Company's existing amended and restated credit agreement dated as of December 23, 2016 (the "2016 Credit Agreement") to, among other modifications: (i) increase the amount of the outstanding term loan ("Term Loan") from approximately $97 million to $100 million, (ii) extend the maturity date of the outstanding Term Loan and the revolving credit facility ("Revolver") by approximately 29 months to May 31, 2024, and (iii) decrease the applicable interest rate margins for LIBOR and base rate loans by 25 basis points. The Term Loan is payable in 19 quarterly installments of principal and interest beginning on December 29, 2019, with escalating principal payments, at the rate of 5.0% per annum for the first eight payments, and 10.0% per annum for the remaining 11 payments, with the remaining balance of $62.5 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. For each borrowing under the 2019 Credit Agreement, the Company may elect that such borrowing bear interest at an annual rate equal to either: (1) a base rate plus an applicable margin varying based on the Company's consolidated leverage ratio, where the base rate is the highest of (a) the prime rate, (b) the New York fed bank rate plus 0.5%, and (c) a LIBOR rate plus 1%, or (2) an adjusted LIBOR rate plus an applicable margin varying based on the Company's consolidated leverage ratio. On August 20, 2020, the Company, the Subsidiary Guarantors, JPMorgan Chase Bank, N.A. as administrative agent, and a group of lenders entered into a First Amendment (the "First Amendment") to the 2019 Credit Agreement. The First Amendment amends the 2019 Credit Agreement (together the "2020 Credit Agreement") to, among other modifications, (i) increase the aggregate principal amount of the existing Revolver commitments from $200.0 million to $250.0 million, (ii) establish a new tranche of term A-1 loans in an aggregate principal amount of $100.0 million (the “New Term Loan”), (iii) increase the working capital sublimit with respect to the Revolver from $175.0 million to $200.0 million, and (iv) increase the seasonally-reduced Revolver commitments from $100.0 million to $125.0 million for the period from January 1 through August 1 for each fiscal year of the Company. The New Term Loan will mature on May 31, 2024. Proceeds of the borrowing under the New Term Loan may be used for working capital and general corporate purposes of the Company and its subsidiaries, subject to certain restrictions. For each borrowing under the 2020 Credit Agreement, the Company may elect that such borrowing bear interest at an annual rate equal to either (1) a base rate plus the applicable margin for the relevant class of borrowing, which such margins vary based on the Company's consolidated leverage ratio, where the base rate is the highest of (a) the prime rate, (b) the New York fed bank rate plus 0.5%, and (c) a LIBOR rate plus 1%, or (2) an adjusted LIBOR rate plus an applicable margin varying based on the Company's consolidated leverage ratio. The New Term Loan is payable in 15 quarterly installments of principal and interest beginning on September 27, 2020, with escalating principal payments, at the rate of 5.0% per annum for the first four payments, and 10.0% per annum for the remaining 11 payments, with the remaining balance of $67.5 million due upon maturity. The 2020 Credit Agreement requires that while any borrowings or commitments are outstanding the Company comply with certain financial covenants and affirmative covenants as well as certain negative covenants that, subject to certain exceptions, limit the Company’s ability to, among other things, incur additional indebtedness, make certain investments and make certain restricted payments. The Company was in compliance with these covenants as of December 27, 2020. The 2020 Credit Agreement is secured by substantially all of the assets of the Company.

Note 9 - Property, Plant and _3

Note 9 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 27, 2020	Jun. 28, 2020
Property, plant, and equipment, gross	$ 449,320	$ 402,885
Accumulated depreciation and amortization	(251,722)	(233,810)
Property, plant and equipment, net	197,598	169,075
Land [Member]
Property, plant, and equipment, gross	30,789	30,789
Orchards in Production and Land Improvements [Member]
Property, plant, and equipment, gross	18,548	17,139
Building and Building Improvements [Member]
Property, plant, and equipment, gross	61,679	61,159
Leasehold Improvements [Member]
Property, plant, and equipment, gross	25,669	13,675
Equipment [Member]
Property, plant, and equipment, gross	78,040	57,904
Furniture and Fixtures [Member]
Property, plant, and equipment, gross	7,995	7,444
Computer and Telecommunication Equipment [Member]
Property, plant, and equipment, gross	57,005	55,381
Software and Software Development Costs [Member]
Property, plant, and equipment, gross	162,304	151,264
Capital Projects in Progress [Member]
Property, plant, and equipment, gross	$ 7,291	$ 8,130

Note 10 - Fair Value Measurem_3

Note 10 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands		Dec. 27, 2020	Jun. 28, 2020
Trading securities held in a “rabbi trust”	[1]	$ 18,617	$ 13,442
Total assets (liabilities) at fair value		18,617	13,442
Fair Value, Inputs, Level 1 [Member]
Trading securities held in a “rabbi trust”	[1]	18,617	13,442
Total assets (liabilities) at fair value		18,617	13,442
Fair Value, Inputs, Level 2 [Member]
Trading securities held in a “rabbi trust”	[1]	0	0
Total assets (liabilities) at fair value		0	0
Fair Value, Inputs, Level 3 [Member]
Trading securities held in a “rabbi trust”	[1]	0	0
Total assets (liabilities) at fair value		$ 0	$ 0
[1]	The Company has established a 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 ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019	Jun. 28, 2020
Effective Income Tax Rate Reconciliation, Percent, Total	23.20%	25.50%	22.70%	24.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21.00%
Unrecognized Tax Benefits, Ending Balance	$ 1.2		$ 1.2
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.8		$ 0.8
Domestic Tax Authority [Member]
Open Tax Year			2016 2017 2018 2019 2020
Foreign Tax Authority [Member]
Open Tax Year			2015 2016 2017 2018 2019 2020

Note 12 - Business Segments (De

Note 12 - Business Segments (Details Textual)	6 Months Ended
	Dec. 27, 2020
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. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Net revenues		$ 877,256	$ 605,642	$ 1,161,028	$ 792,905
Depreciation and amortization		(11,060)	(7,830)	(19,900)	(15,465)
Operating income		147,602	99,571	134,141	78,918
Operating Segments [Member]
Contribution margin		193,419	133,411	220,495	143,692
Corporate, Non-Segment [Member]
Net revenues		135	165	241	360
Corporate	[1]	(34,757)	(26,010)	(66,454)	(49,309)
Intersegment Eliminations [Member]
Net revenues		(552)	(545)	(1,099)	(900)
Consumer Floral and Gifts [Member] | Operating Segments [Member]
Net revenues		305,357	115,716	466,903	206,484
Contribution margin		45,657	10,890	64,893	19,414
BloomNet Wire Service [Member]
Net revenues		34,051	25,722	66,789	51,162
BloomNet Wire Service [Member] | Operating Segments [Member]
Net revenues		34,051	25,722	66,789	51,162
Contribution margin		12,141	9,134	22,562	17,491
BloomNet Wire Service [Member] | Corporate, Non-Segment [Member]
Net revenues		0	0	0	0
BloomNet Wire Service [Member] | Intersegment Eliminations [Member]
Net revenues		0	0	0	0
Gourmet Foods and Gift Baskets [Member]
Net revenues		538,265	464,584	628,194	535,799
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member]
Net revenues		538,265	464,584	628,194	535,799
Contribution margin		135,621	113,387	133,040	106,787
Gourmet Foods and Gift Baskets [Member] | Corporate, Non-Segment [Member]
Net revenues		0	0	0	0
Gourmet Foods and Gift Baskets [Member] | Intersegment Eliminations [Member]
Net revenues		$ 0	$ 0	$ 0	$ 0
[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. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Net revenues	$ 877,256	$ 605,642	$ 1,161,028	$ 792,905
Corporate, Non-Segment [Member]
Net revenues	135	165	241	360
Intersegment Eliminations [Member]
Net revenues	(552)	(545)	(1,099)	(900)
E-commerce [Member] | Operating Segments [Member]
Net revenues	777,810	487,084	1,016,673	616,134
Retail Sales Channel [Member] | Operating Segments [Member]
Net revenues	5,298	24,202	7,818	32,631
Wholesale [Member] | Operating Segments [Member]
Net revenues	68,792	75,508	89,370	108,019
Bloomnet Services [Member] | Operating Segments [Member]
Net revenues	24,901	18,452	46,346	35,144
Other [Member]
Net revenues	872	776	1,679	1,517
Consumer Floral [Member]
Net revenues	305,357	115,716	466,903	206,484
Consumer Floral [Member] | Corporate, Non-Segment [Member]
Net revenues		0	0	0
Consumer Floral [Member] | Intersegment Eliminations [Member]
Net revenues		0	0	0
Consumer Floral [Member] | E-commerce [Member] | Operating Segments [Member]
Net revenues	303,275	113,858	463,067	202,946
Consumer Floral [Member] | Retail Sales Channel [Member] | Operating Segments [Member]
Net revenues	1,210	1,082	2,157	2,021
Consumer Floral [Member] | Wholesale [Member] | Operating Segments [Member]
Net revenues		0	0	0
Consumer Floral [Member] | Bloomnet Services [Member] | Operating Segments [Member]
Net revenues		0	0	0
Consumer Floral [Member] | Other [Member]
Net revenues	872	776	1,679	1,517
BloomNet Wire Service [Member]
Net revenues	34,051	25,722	66,789	51,162
BloomNet Wire Service [Member] | Operating Segments [Member]
Net revenues	34,051	25,722	66,789	51,162
BloomNet Wire Service [Member] | Corporate, Non-Segment [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | Intersegment Eliminations [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | E-commerce [Member] | Operating Segments [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | Retail Sales Channel [Member] | Operating Segments [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | Wholesale [Member] | Operating Segments [Member]
Net revenues	9,150	7,270	20,443	16,018
BloomNet Wire Service [Member] | Bloomnet Services [Member] | Operating Segments [Member]
Net revenues	24,901	18,452	46,346	35,144
BloomNet Wire Service [Member] | Other [Member]
Net revenues	0	0	0	0
Gourmet Foods and Gift Baskets [Member]
Net revenues	538,265	464,584	628,194	535,799
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member]
Net revenues	538,265	464,584	628,194	535,799
Gourmet Foods and Gift Baskets [Member] | Corporate, Non-Segment [Member]
Net revenues	0	0	0	0
Gourmet Foods and Gift Baskets [Member] | Intersegment Eliminations [Member]
Net revenues	0	0	0	0
Gourmet Foods and Gift Baskets [Member] | E-commerce [Member] | Operating Segments [Member]
Net revenues	474,535	373,226	553,606	413,188
Gourmet Foods and Gift Baskets [Member] | Retail Sales Channel [Member] | Operating Segments [Member]
Net revenues	4,088	23,120	5,661	30,610
Gourmet Foods and Gift Baskets [Member] | Wholesale [Member] | Operating Segments [Member]
Net revenues	59,642	68,238	68,927	92,001
Gourmet Foods and Gift Baskets [Member] | Bloomnet Services [Member] | Operating Segments [Member]
Net revenues	0	0	0	0
Gourmet Foods and Gift Baskets [Member] | Other [Member]
Net revenues	$ 0	$ 0	$ 0	$ 0

Note 13 - Leases - Lease Costs

Note 13 - Leases - Lease Costs (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 27, 2020USD ($)	Dec. 27, 2020USD ($)
Operating lease costs	$ 3,679	$ 7,026
Variable lease costs	5,451	9,650
Short-term lease cost	3,420	5,227
Sublease income	(201)	(406)
Total lease costs	$ 12,349	21,497
Cash paid for amounts included in measurement of operating lease liabilities		6,507
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 26,919
Weighted-average remaining lease term - operating leases (Year)	9 years 1 month 6 days	9 years 1 month 6 days
Weighted-discount rate - operating leases	3.80%	3.80%

Note 13 - Leases - Maturities o

Note 13 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 27, 2020USD ($)
Remainder of 2021	$ 7,191
2022	13,916
2023	13,593
2024	13,047
2025	10,665
Thereafter	52,105
Total Future Minimum Lease Payments	110,517
Less Imputed Remaining Interest	18,256
Total	$ 92,261

Note 14 - Commitments and Con_2

Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Aug. 03, 2020	Jul. 21, 2020
Personalization Mall [Member]
Business Combination, Consideration Transferred, Total	$ 250.9	$ 245