1-800-FLOWERS.COM (FLWS) 10-Q 8 Feb 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2023	Feb. 02, 2024
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	--06-30
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
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	Two Jericho Plaza, Suite 200
Entity Address, City or Town	Jericho
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11753
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		27,068,221
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,428,934

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Current assets:
Cash and cash equivalents	$ 312,017	$ 126,807
Trade receivables, net	46,578	20,419
Inventories	161,324	191,334
Prepaid and other	24,557	34,583
Total current assets	544,476	373,143
Property, plant and equipment, net	227,643	234,569
Operating lease right-of-use assets	117,825	124,715
Goodwill	153,577	153,376
Other intangibles, net	117,897	139,888
Other assets	30,292	25,739
Total assets	1,191,710	1,051,430
Current liabilities:
Accounts payable	92,418	52,588
Accrued expenses	224,084	141,914
Current maturities of long-term debt	10,000	10,000
Current portion of long-term operating lease liabilities	15,433	15,759
Total current liabilities	341,935	220,261
Long-term debt, net	181,749	186,391
Long-term operating lease liabilities	110,740	117,330
Deferred tax liabilities, net	25,026	31,134
Other liabilities	28,900	24,471
Total liabilities	688,350	579,587
Commitments and contingencies (See Note 14)
Stockholders' equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued	0	0
Additional paid-in capital	392,849	388,215
Retained earnings	302,748	271,083
Accumulated other comprehensive loss	(170)	(170)
Treasury stock, at cost, 21,089,336 and 20,565,875 Class A shares at December 31, 2023 and July 2, 2023, respectively and 5,280,000 Class B shares at December 31, 2023 and July 2, 2023	(192,978)	(188,191)
Total stockholders’ equity	503,360	471,843
Total liabilities and stockholders’ equity	1,191,710	1,051,430
Common Class A [Member]
Stockholders' equity:
Common stock	588	583
Common Class B [Member]
Stockholders' equity:
Common stock	$ 323	$ 323

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 31, 2023	Jul. 02, 2023
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)	58,743,969	58,273,747
Treasury stock, shares (in shares)	21,089,336	20,565,875
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)	32,348,221	32,348,221
Treasury stock, shares (in shares)	5,280,000	5,280,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Net revenues	$ 822,054	$ 897,877	$ 1,091,104	$ 1,201,481
Cost of revenues	466,357	530,111	633,479	732,257
Gross profit	355,697	367,766	457,625	469,224
Operating expenses:
Marketing and sales	188,557	194,466	271,075	283,605
Technology and development	14,822	14,952	30,126	29,692
General and administrative	27,154	28,908	55,643	55,153
Depreciation and amortization	14,152	14,315	27,346	27,009
Intangible impairment	19,762	0	19,762	0
Total operating expenses	264,447	252,641	403,952	395,459
Operating income	91,250	115,125	53,673	73,765
Interest expense, net	4,611	4,143	8,093	6,964
Other (income) expense, net	(2,736)	148	(2,262)	1,070
Income before income taxes	89,375	110,834	47,842	65,731
Income tax expense	26,468	28,304	16,177	16,893
Net income and comprehensive net income	$ 62,907	$ 82,530	$ 31,665	$ 48,838
Basic net income per common share (in dollars per share)	$ 0.97	$ 1.28	$ 0.49	$ 0.76
Diluted net income per common share (in dollars per share)	$ 0.97	$ 1.27	$ 0.49	$ 0.75
Weighted average shares used in the calculation of net income per common share:
Basic (in shares)	64,835	64,675	64,814	64,606
Diluted (in shares)	65,177	64,835	65,155	64,820

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, Common [Member]	Total
Balance (in shares) at Jul. 03, 2022	57,706,389	32,529,614				25,698,396
Balance at Jul. 03, 2022	$ 577	$ 325	$ 379,885	$ 315,785	$ (211)	$ (186,952)	$ 509,409
Net income	$ 0	$ 0	0	48,838	0	$ 0	48,838
Stock-based compensation (in shares)	368,249	0				0
Stock-based compensation	$ 4	$ 0	3,450	0	0	$ 0	3,454
Acquisition of Class A treasury stock (in shares)	0	0				140,248
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (1,175)	(1,175)
Net income	$ 0	$ 0	0	48,838	0	$ 0	48,838
Conversion – Class B into Class A (in shares)	181,393
Conversion – Class B into Class A	$ 2
Conversion – Class B into Class A (in shares)		(181,393)
Conversion – Class B into Class A		$ (2)
Balance (in shares) at Jan. 01, 2023	58,256,031	32,348,221				25,838,644
Balance at Jan. 01, 2023	$ 583	$ 323	383,335	364,623	(211)	$ (188,127)	560,526
Balance (in shares) at Oct. 02, 2022	57,706,389	32,529,614				25,698,396
Balance at Oct. 02, 2022	$ 577	$ 325	381,440	282,093	(211)	$ (186,952)	477,272
Net income	$ 0	$ 0	0	82,530	0	$ 0	82,530
Stock-based compensation (in shares)	368,249	0				0
Stock-based compensation	$ 4	$ 0	1,895	0	0	$ 0	1,899
Acquisition of Class A treasury stock (in shares)	0	0				140,248
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (1,175)	(1,175)
Net income	$ 0	$ 0	0	82,530	0	$ 0	82,530
Conversion – Class B into Class A (in shares)	181,393
Conversion – Class B into Class A	$ 2
Conversion – Class B into Class A (in shares)		(181,393)
Conversion – Class B into Class A		$ (2)
Balance (in shares) at Jan. 01, 2023	58,256,031	32,348,221				25,838,644
Balance at Jan. 01, 2023	$ 583	$ 323	383,335	364,623	(211)	$ (188,127)	560,526
Balance (in shares) at Jul. 02, 2023	58,273,747	32,348,221				25,845,875
Balance at Jul. 02, 2023	$ 583	$ 323	388,215	271,083	(170)	$ (188,191)	471,843
Net income	$ 0	$ 0	0	31,665	0	$ 0	31,665
Stock-based compensation (in shares)	465,112	0				0
Stock-based compensation	$ 5	$ 0	4,590	0	0	$ 0	4,595
Exercise of stock options (in shares)	5,110	0				0
Exercise of stock options	$ 0	$ 0	44	0	0	$ 0	44
Acquisition of Class A treasury stock (in shares)	0	0				523,461
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (4,787)	(4,787)
Net income	$ 0	$ 0	0	31,665	0	$ 0	31,665
Balance (in shares) at Dec. 31, 2023	58,743,969	32,348,221				26,369,336
Balance at Dec. 31, 2023	$ 588	$ 323	392,849	302,748	(170)	$ (192,978)	503,360
Balance (in shares) at Oct. 01, 2023	58,309,547	32,348,221				25,856,358
Balance at Oct. 01, 2023	$ 583	$ 323	390,579	239,841	(170)	$ (188,265)	442,891
Net income	$ 0	$ 0	0	62,907	0	$ 0	62,907
Stock-based compensation (in shares)	429,312	0				0
Stock-based compensation	$ 5	$ 0	2,226	0	0	$ 0	2,231
Exercise of stock options (in shares)	5,110	0				0
Exercise of stock options	$ 0	$ 0	44	0	0	$ 0	44
Acquisition of Class A treasury stock (in shares)	0	0				512,978
Acquisition of Class A treasury stock	$ 0	$ 0	0	0	0	$ (4,713)	(4,713)
Net income	$ 0	$ 0	0	62,907	0	$ 0	62,907
Balance (in shares) at Dec. 31, 2023	58,743,969	32,348,221				26,369,336
Balance at Dec. 31, 2023	$ 588	$ 323	$ 392,849	$ 302,748	$ (170)	$ (192,978)	$ 503,360

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023
Operating activities:
Net income	$ 31,665	$ 48,838
Adjustments to reconcile net income to net cash provided by operating activities:
Intangible impairment	19,762	0
Depreciation and amortization	27,346	27,009
Amortization of deferred financing costs	361	671
Deferred income taxes	(6,108)	(846)
Bad debt expense	225	2,407
Stock-based compensation	4,595	3,454
Other non-cash items	(385)	(470)
Changes in operating items:
Trade receivables	(26,384)	(31,622)
Inventories	29,808	46,506
Prepaid and other	6,640	7,550
Accounts payable and accrued expenses	125,404	89,050
Other assets and liabilities	(169)	1,113
Net cash provided by operating activities	212,760	193,660
Investing activities:
Capital expenditures	(17,807)	(23,849)
Net cash used in investing activities	(17,807)	(23,849)
Financing activities:
Acquisition of treasury stock	(4,787)	(1,175)
Proceeds from exercise of employee stock options	44	0
Proceeds from bank borrowings	82,000	195,900
Repayment of bank borrowings	(87,000)	(205,900)
Debt issuance cost	0	(383)
Net cash used in financing activities	(9,743)	(11,558)
Net change in cash and cash equivalents	185,210	158,253
Cash and cash equivalents:
Beginning of period	126,807	31,465
End of period	$ 312,017	$ 189,718

Note 1 - Accounting Policies

Note 1 - Accounting Policies	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	Note 1 Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by 1 800 10 10 X. not three six December 31, 2023 not may June 30, 2024. Annual Report on Form 10 July 2, 2023 The Company’s quarterly results may second 40% 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. Revenue Recognition Net revenue is measured based on the amount of consideration that we expect to receive, reduced by discounts and estimates for credits and returns (calculated based upon previous experience and management’s evaluation). Service and outbound shipping charged to customers are recognized at the time the related merchandise revenues are recognized and are included in net revenues. Inbound and outbound shipping and delivery costs are included in cost of revenues. Net revenues exclude sales and other similar taxes collected from customers. A description of our principal revenue generating activities is as follows: ● E-commerce revenues - consumer products sold through our online and telephonic channels. Revenue is recognized when control of the merchandise is transferred to the customer, which generally occurs upon shipment. Payment is typically due prior to the date of shipment. ● Retail revenues - consumer products sold through our retail stores. Revenue is recognized when control of the goods is transferred to the customer, at the point of sale, at which time payment is received. ● Wholesale revenues - products sold to our wholesale customers for subsequent resale. Revenue is recognized when control of the goods is transferred to the customer, in accordance with the terms of the applicable agreement. Payment terms are typically 30 ● BloomNet Services - membership fees as well as other service offerings to florists. Membership and other subscription-based fees are recognized monthly as earned. Services revenues related to orders sent through the floral network are variable, based on either the number of orders or the value of orders, and are recognized in the period in which the orders are delivered. The contracts within BloomNet Services are typically month-to-month and, as a result, no 30 Deferred Revenues Deferred revenues are recorded when the Company has received consideration (i.e. advance payment) before satisfying its performance obligations. As such, customer orders are recorded as deferred revenue prior to shipment or rendering of product or services. Deferred revenues primarily relate to e-commerce orders placed, but not Our total deferred revenue as of July 2, 2023 three six December 31, 2023. December 31, 2023 Impairment Evaluation The Company performs its annual assessment of goodwill and indefinite-lived intangible impairment during its fiscal fourth not may December 31, 2023, The Company concluded that goodwill and other indefinite-lived intangible assets, excluding its PersonalizationMall tradename, did not Note 5 Recently Issued Accounting Pronouncements In November 2023, 2023 07, Segment Reporting (Topic 280 2023 07 2023 07 December 15, 2023, December 15, 2024, 2023 07 2023 07 In December 2023, 2023 09, Income Taxes (Topic 740 2023 09 2023 09 December 15, 2024, 2023 09

Note 2 - Net Income (Loss) Per

Note 2 - Net Income (Loss) Per Common Share	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 2 Net Income (Loss) Per Common Share Basic net income per common share is computed by dividing the net income during the period by the weighted average number of common shares outstanding during the period. Diluted net income per common share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table sets forth the computation of basic and diluted net income per common share: Three Months Ended Six Months Ended December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 (in thousands, except per share data) Numerator: Net income $ 62,907 $ 82,530 $ 31,665 $ 48,838 Denominator: Weighted average shares outstanding 64,835 64,675 64,814 64,606 Effect of dilutive stock options and unvested restricted stock awards 342 160 341 214 Diluted weighted-average shares outstanding 65,177 64,835 65,155 64,820 Net income per common share Basic $ 0.97 $ 1.28 $ 0.49 $ 0.76 Diluted $ 0.97 $ 1.27 $ 0.49 $ 0.75

Note 3 - Acquisitions

Note 3 - Acquisitions	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	3 Acquisitions Acquisition of Things Remembered On January 10, 2023, not twelve November 30, 2022. The total consideration of $5.0 million was allocated to the identifiable assets acquired and liabilities assumed based on our estimates of their fair values on the acquisition date, including: goodwill of $1.9 million (deductible for income tax purposes), trademarks of $0.8 million (indefinite life), customer lists of $0.8 million (3-year life), inventory of $1.1 million, and equipment of $0.4 million. During the quarter ended December 31, 2023, Operating results of the Things Remembered business are reflected in the Company’s consolidated financial statements from the date of acquisition within the Consumer Floral & Gifts segment. Pro forma results of operations have not not

Note 4 - Inventory, Net

Note 4 - Inventory, Net	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 4 Inventory, Net The Company’s inventory, valued at the lower of cost or net realizable value, includes purchased and manufactured finished goods for sale, packaging supplies, crops, raw material ingredients for manufactured products and associated manufacturing labor, and is classified as follows: December 31, 2023 July 2, 2023 (in thousands) Finished goods $ 92,160 $ 92,582 Work-in-process 20,158 33,818 Raw materials 49,006 64,934 Total inventory $ 161,324 $ 191,334

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets, Net	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5 Goodwill and Intangible Assets, Net The following table presents goodwill by segment and the related change in the net carrying amount: Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Total (in thousands) Balance at July 2, 2023 $ 153,376 $ - $ - $ 153,376 Measurement period adjustment for Things Remembered Acquisition 201 - - 201 Balance at December 31, 2023 $ 153,577 $ - $ - $ 153,577 The Company’s other intangible assets consist of the following: December 31, 2023 July 2, 2023 Amortization Period Gross Carrying Amount Accumulated Net Gross Carrying Amount Accumulated Net (in years) (in thousands) Intangible assets with determinable lives Investment in licenses 14 - 16 $ 7,420 $ 6,622 $ 798 $ 7,420 $ 6,569 $ 851 Customer lists 3 - 10 29,071 23,757 5,314 29,071 21,611 7,460 Other 5 - 14 2,946 2,634 312 2,946 2,604 342 Total intangible assets with determinable lives 39,437 33,013 6,424 39,437 30,784 8,653 Trademarks with indefinite lives 111,473 - 111,473 131,235 - 131,235 Total identifiable intangible assets $ 150,910 $ 33,013 $ 117,897 $ 170,672 $ 30,784 $ 139,888 Future estimated amortization expense is as follows: remainder of fiscal 2024 2025 2026 2027 2028 The Company performs its annual assessment of goodwill and indefinite-lived intangible impairment during its fiscal fourth not may During the quarter ended December 31, 2023, third December 31, 2023, The Company concluded that goodwill and other indefinite-lived intangible assets, excluding its PersonalizationMall tradename, did not

Note 6 - Investments

Note 6 - Investments	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6 Investments Equity investments without a readily determinable fair value Investments in non-marketable equity instruments of private companies, where the Company does not December 31, 2023 July 2, 2023, 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 9 - Fair Value Measurements

Note 7 - Debt, Net

Note 7 - Debt, Net	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	7 Debt, Net The Company’s current and long-term debt consists of the following: December 31, 2023 July 2, 2023 (in thousands) Revolver $ - $ - Term Loans 195,000 200,000 Deferred financing costs (3,251 ) (3,609 ) Total debt 191,749 196,391 Less: current maturities of long-term debt 10,000 10,000 Long-term debt, net $ 181,749 $ 186,391 On June 27, 2023, May 31, 2019 ( August 20, 2020, November 8, 2021, August 29, 2022). January 1 August 1, ( 48 June 27, 2028, For each borrowing under the Third Amended Credit Agreement, the Company may 1 The Third Amended 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 31, 2023. The principal of the Term Loan is payable at a rate of $2.5 million for the first 8 September 29, 2023, September 26, 2025, 11 June 27, 2028. Future principal term loan payments under the Third Amended Credit Agreement are as follows: $5.0 million – remainder of Fiscal 2024, 2025, 2026, 2027, 2028.

Note 8 - Property, Plant and Eq

Note 8 - Property, Plant and Equipment, Net	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 8 The Company’s property, plant and equipment consists of the following: December 31, 2023 July 2, 2023 (in thousands) Land $ 33,866 $ 33,866 Orchards in production and land improvements 20,604 20,401 Building and building improvements 68,510 67,647 Leasehold improvements 30,882 29,524 Production equipment 130,043 125,297 Furniture and fixtures 9,235 9,102 Computer and telecommunication equipment 43,041 41,859 Software 193,925 181,085 Capital projects in progress 14,644 18,205 Property, plant and equipment, gross 544,750 526,986 Accumulated depreciation and amortization (317,107 ) (292,417 ) Property, plant and equipment, net $ 227,643 $ 234,569

Note 9 - Fair Value Measurement

Note 9 - Fair Value Measurements	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9 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 2 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 31, 2023: Trading securities held in a “rabbi trust” (1) $ 27,183 $ 27,183 $ - $ - Total assets (liabilities) at fair value $ 27,183 $ 27,183 $ - $ - As of July 2, 2023: Trading securities held in a “rabbi trust” (1) $ 22,617 $ 22,617 $ - $ - Total assets (liabilities) at fair value $ 22,617 $ 22,617 $ - $ - ( 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 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 10 Income Taxes The Company computed the interim tax provision using an estimated annual effective rate, adjusted for discrete items. This estimate is used in providing for income taxes on a year-to-date basis and may three six December 31, 2023 2024 2023 2024 The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, and various foreign countries. The Company’s fiscal years 2020, 2021, 2022 2016. 2017 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 31, 2023, twelve

Note 11 - Business Segments

Note 11 - Business Segments	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 11 Business Segments The Company’s management reviews the results of its operations by the following three business segments: • 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 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 (in thousands) Net Revenues: Segment Net Revenues: Consumer Floral & Gifts $ 254,835 $ 277,049 $ 397,029 $ 439,229 BloomNet 27,236 32,852 56,106 66,219 Gourmet Foods & Gift Baskets 539,963 588,431 638,072 696,659 Corporate 279 72 549 116 Intercompany eliminations (259 ) (527 ) (652 ) (742 ) Total net revenues $ 822,054 $ 897,877 $ 1,091,104 $ 1,201,481 Operating Income: Segment Contribution Margin: Consumer Floral & Gifts $ 10,593 $ 27,886 $ 19,419 $ 38,696 BloomNet 9,088 9,348 18,475 18,865 Gourmet Foods & Gift Baskets 118,153 123,503 107,125 104,793 Segment Contribution Margin Subtotal 137,834 160,737 145,019 162,354 Corporate (a) (32,432 ) (31,297 ) (64,000 ) (61,580 ) Depreciation and amortization (14,152 ) (14,315 ) (27,346 ) (27,009 ) Operating income $ 91,250 $ 115,125 $ 53,673 $ 73,765 (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 Consumer Floral & BloomNet Gourmet Foods & Gift Corporate and Eliminations Consolidated December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 Net revenues E-commerce $ 252,845 $ 275,081 $ - $ - $ 485,561 $ 515,329 $ - $ - $ 738,406 $ 790,410 Other 1,990 1,968 27,236 32,852 54,402 73,102 20 (455 ) 83,648 107,467 Total net revenues $ 254,835 $ 277,049 $ 27,236 $ 32,852 $ 539,963 $ 588,431 $ 20 $ (455 ) $ 822,054 $ 897,877 Other revenues detail Retail and other 1,990 1,968 - - 4,296 4,313 - - 6,286 6,281 Wholesale - - 8,706 12,054 50,106 68,789 - - 58,812 80,843 BloomNet services - - 18,530 20,798 - - - - 18,530 20,798 Corporate - - - - - - 279 72 279 72 Eliminations - - - - - - (259 ) (527 ) (259 ) (527 ) Total other revenues $ 1,990 $ 1,968 $ 27,236 $ 32,852 $ 54,402 $ 73,102 $ 20 $ (455 ) $ 83,648 $ 107,467 Six Months Ended Consumer Floral & BloomNet Gourmet Foods & Gift Corporate and Eliminations Consolidated December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 Net revenues E-commerce $ 393,180 $ 435,463 $ - $ - $ 555,137 $ 593,869 $ - $ - $ 948,317 $ 1,029,332 Other 3,849 3,766 56,106 66,219 82,935 102,790 (103 ) (626 ) 142,787 172,149 Total net revenues $ 397,029 $ 439,229 $ 56,106 $ 66,219 $ 638,072 $ 696,659 $ (103 ) $ (626 ) $ 1,091,104 $ 1,201,481 Other revenues detail Retail and other 3,849 3,766 - - 6,230 6,221 - - 10,079 9,987 Wholesale - - 20,503 25,675 76,705 96,569 - - 97,208 122,244 BloomNet services - - 35,603 40,544 - - - - 35,603 40,544 Corporate - - - - - - 549 116 549 116 Eliminations - - - - - - (652 ) (742 ) (652 ) (742 ) Total other revenues $ 3,849 $ 3,766 $ 56,106 $ 66,219 $ 82,935 $ 102,790 $ (103 ) $ (626 ) $ 142,787 $ 172,149

Note 12 - Leases

Note 12 - Leases	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	12 Leases The Company currently leases plants, warehouses, offices, store facilities, and equipment under various leases through fiscal 2036. may 842. At contract inception, the Company determines 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 the Company has 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, the Company determines if a lease should be classified as an operating or a finance lease (the Company currently has no not 12 The Company recognizes expense for its 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 the Company determines: ( 1 2 3 Additional information related to our leases is as follows: Three Months Ended Six Months Ended December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 (in thousands) Lease costs: Operating lease costs $ 5,651 $ 5,606 $ 11,273 $ 10,953 Variable lease costs 7,568 6,603 14,082 12,454 Short-term lease cost 2,535 2,889 3,418 4,454 Sublease income (246 ) (241 ) (497 ) (484 ) Total lease costs $ 15,508 $ 14,857 $ 28,276 $ 27,377 Cash paid for amounts included in measurement of operating lease liabilities $ 11,300 $ 9,851 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,784 $ 10,521 December 31, 2023 (in thousands) Weighted-average remaining lease term - operating leases (in years) 8.4 Weighted-discount rate - operating leases 4.1 % Maturities of lease liabilities in accordance with ASC 842 December 31, 2023 Fiscal Year: Remainder of 2024 $ 9,507 2025 20,644 2026 18,714 2027 17,095 2028 16,179 Thereafter 68,402 Total Future Minimum Lease Payments 150,541 Less: Imputed Remaining Interest 24,368 Total Operating Lease Liabilities 126,173 Less: Current portion of long-term operating lease liabilities 15,433 Long-term operating lease liabilities $ 110,740

Note 13 - Accrued Expenses

Note 13 - Accrued Expenses	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 13 Accrued expenses consisted of the following: December 31, 2023 July 2, 2023 (in thousands) Payroll and employee benefits $ 30,889 $ 33,927 Deferred revenue 39,928 30,811 Accrued marketing expenses 13,646 13,679 Accrued florist payout 17,981 13,437 Accrued purchases 44,546 18,351 Accrued income taxes 20,756 922 Other 56,338 30,787 Accrued Expenses $ 224,084 $ 141,914

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	6 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14 Commitments and Contingencies Litigation There are various claims, lawsuits, and pending actions against the Company and its subsidiaries incident to the operations of its businesses. It is the opinion of management, after consultation with counsel, that the final resolution of such claims, lawsuits and pending actions will not

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	5. None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2023
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 31, 2023 not may June 30, 2024. Annual Report on Form 10 July 2, 2023 The Company’s quarterly results may second 40% 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.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Net revenue is measured based on the amount of consideration that we expect to receive, reduced by discounts and estimates for credits and returns (calculated based upon previous experience and management’s evaluation). Service and outbound shipping charged to customers are recognized at the time the related merchandise revenues are recognized and are included in net revenues. Inbound and outbound shipping and delivery costs are included in cost of revenues. Net revenues exclude sales and other similar taxes collected from customers. A description of our principal revenue generating activities is as follows: ● E-commerce revenues - consumer products sold through our online and telephonic channels. Revenue is recognized when control of the merchandise is transferred to the customer, which generally occurs upon shipment. Payment is typically due prior to the date of shipment. ● Retail revenues - consumer products sold through our retail stores. Revenue is recognized when control of the goods is transferred to the customer, at the point of sale, at which time payment is received. ● Wholesale revenues - products sold to our wholesale customers for subsequent resale. Revenue is recognized when control of the goods is transferred to the customer, in accordance with the terms of the applicable agreement. Payment terms are typically 30 ● BloomNet Services - membership fees as well as other service offerings to florists. Membership and other subscription-based fees are recognized monthly as earned. Services revenues related to orders sent through the floral network are variable, based on either the number of orders or the value of orders, and are recognized in the period in which the orders are delivered. The contracts within BloomNet Services are typically month-to-month and, as a result, no 30 Deferred Revenues Deferred revenues are recorded when the Company has received consideration (i.e. advance payment) before satisfying its performance obligations. As such, customer orders are recorded as deferred revenue prior to shipment or rendering of product or services. Deferred revenues primarily relate to e-commerce orders placed, but not Our total deferred revenue as of July 2, 2023 three six December 31, 2023. December 31, 2023
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment Evaluation The Company performs its annual assessment of goodwill and indefinite-lived intangible impairment during its fiscal fourth not may December 31, 2023, The Company concluded that goodwill and other indefinite-lived intangible assets, excluding its PersonalizationMall tradename, did not Note 5
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In November 2023, 2023 07, Segment Reporting (Topic 280 2023 07 2023 07 December 15, 2023, December 15, 2024, 2023 07 2023 07 In December 2023, 2023 09, Income Taxes (Topic 740 2023 09 2023 09 December 15, 2024, 2023 09

Note 2 - Net Income (Loss) Pe_2

Note 2 - Net Income (Loss) Per Common Share (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 (in thousands, except per share data) Numerator: Net income $ 62,907 $ 82,530 $ 31,665 $ 48,838 Denominator: Weighted average shares outstanding 64,835 64,675 64,814 64,606 Effect of dilutive stock options and unvested restricted stock awards 342 160 341 214 Diluted weighted-average shares outstanding 65,177 64,835 65,155 64,820 Net income per common share Basic $ 0.97 $ 1.28 $ 0.49 $ 0.76 Diluted $ 0.97 $ 1.27 $ 0.49 $ 0.75

Note 4 - Inventory, Net (Tables

Note 4 - Inventory, Net (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2023 July 2, 2023 (in thousands) Finished goods $ 92,160 $ 92,582 Work-in-process 20,158 33,818 Raw materials 49,006 64,934 Total inventory $ 161,324 $ 191,334

Note 5 - Goodwill and Intangi_2

Note 5 - Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Goodwill [Table Text Block]	Consumer Floral & Gifts BloomNet Gourmet Foods & Gift Total (in thousands) Balance at July 2, 2023 $ 153,376 $ - $ - $ 153,376 Measurement period adjustment for Things Remembered Acquisition 201 - - 201 Balance at December 31, 2023 $ 153,577 $ - $ - $ 153,577
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	December 31, 2023 July 2, 2023 Amortization Period Gross Carrying Amount Accumulated Net Gross Carrying Amount Accumulated Net (in years) (in thousands) Intangible assets with determinable lives Investment in licenses 14 - 16 $ 7,420 $ 6,622 $ 798 $ 7,420 $ 6,569 $ 851 Customer lists 3 - 10 29,071 23,757 5,314 29,071 21,611 7,460 Other 5 - 14 2,946 2,634 312 2,946 2,604 342 Total intangible assets with determinable lives 39,437 33,013 6,424 39,437 30,784 8,653 Trademarks with indefinite lives 111,473 - 111,473 131,235 - 131,235 Total identifiable intangible assets $ 150,910 $ 33,013 $ 117,897 $ 170,672 $ 30,784 $ 139,888

Note 7 - Debt, Net (Tables)

Note 7 - Debt, Net (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2023 July 2, 2023 (in thousands) Revolver $ - $ - Term Loans 195,000 200,000 Deferred financing costs (3,251 ) (3,609 ) Total debt 191,749 196,391 Less: current maturities of long-term debt 10,000 10,000 Long-term debt, net $ 181,749 $ 186,391

Note 8 - Property, Plant and _2

Note 8 - Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2023 July 2, 2023 (in thousands) Land $ 33,866 $ 33,866 Orchards in production and land improvements 20,604 20,401 Building and building improvements 68,510 67,647 Leasehold improvements 30,882 29,524 Production equipment 130,043 125,297 Furniture and fixtures 9,235 9,102 Computer and telecommunication equipment 43,041 41,859 Software 193,925 181,085 Capital projects in progress 14,644 18,205 Property, plant and equipment, gross 544,750 526,986 Accumulated depreciation and amortization (317,107 ) (292,417 ) Property, plant and equipment, net $ 227,643 $ 234,569

Note 9 - Fair Value Measureme_2

Note 9 - Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2023
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 31, 2023: Trading securities held in a “rabbi trust” (1) $ 27,183 $ 27,183 $ - $ - Total assets (liabilities) at fair value $ 27,183 $ 27,183 $ - $ - As of July 2, 2023: Trading securities held in a “rabbi trust” (1) $ 22,617 $ 22,617 $ - $ - Total assets (liabilities) at fair value $ 22,617 $ 22,617 $ - $ -

Note 11 - Business Segments (Ta

Note 11 - Business Segments (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 (in thousands) Net Revenues: Segment Net Revenues: Consumer Floral & Gifts $ 254,835 $ 277,049 $ 397,029 $ 439,229 BloomNet 27,236 32,852 56,106 66,219 Gourmet Foods & Gift Baskets 539,963 588,431 638,072 696,659 Corporate 279 72 549 116 Intercompany eliminations (259 ) (527 ) (652 ) (742 ) Total net revenues $ 822,054 $ 897,877 $ 1,091,104 $ 1,201,481 Operating Income: Segment Contribution Margin: Consumer Floral & Gifts $ 10,593 $ 27,886 $ 19,419 $ 38,696 BloomNet 9,088 9,348 18,475 18,865 Gourmet Foods & Gift Baskets 118,153 123,503 107,125 104,793 Segment Contribution Margin Subtotal 137,834 160,737 145,019 162,354 Corporate (a) (32,432 ) (31,297 ) (64,000 ) (61,580 ) Depreciation and amortization (14,152 ) (14,315 ) (27,346 ) (27,009 ) Operating income $ 91,250 $ 115,125 $ 53,673 $ 73,765
Disaggregation of Revenue [Table Text Block]	Three Months Ended Consumer Floral & BloomNet Gourmet Foods & Gift Corporate and Eliminations Consolidated December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 Net revenues E-commerce $ 252,845 $ 275,081 $ - $ - $ 485,561 $ 515,329 $ - $ - $ 738,406 $ 790,410 Other 1,990 1,968 27,236 32,852 54,402 73,102 20 (455 ) 83,648 107,467 Total net revenues $ 254,835 $ 277,049 $ 27,236 $ 32,852 $ 539,963 $ 588,431 $ 20 $ (455 ) $ 822,054 $ 897,877 Other revenues detail Retail and other 1,990 1,968 - - 4,296 4,313 - - 6,286 6,281 Wholesale - - 8,706 12,054 50,106 68,789 - - 58,812 80,843 BloomNet services - - 18,530 20,798 - - - - 18,530 20,798 Corporate - - - - - - 279 72 279 72 Eliminations - - - - - - (259 ) (527 ) (259 ) (527 ) Total other revenues $ 1,990 $ 1,968 $ 27,236 $ 32,852 $ 54,402 $ 73,102 $ 20 $ (455 ) $ 83,648 $ 107,467 Six Months Ended Consumer Floral & BloomNet Gourmet Foods & Gift Corporate and Eliminations Consolidated December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 Net revenues E-commerce $ 393,180 $ 435,463 $ - $ - $ 555,137 $ 593,869 $ - $ - $ 948,317 $ 1,029,332 Other 3,849 3,766 56,106 66,219 82,935 102,790 (103 ) (626 ) 142,787 172,149 Total net revenues $ 397,029 $ 439,229 $ 56,106 $ 66,219 $ 638,072 $ 696,659 $ (103 ) $ (626 ) $ 1,091,104 $ 1,201,481 Other revenues detail Retail and other 3,849 3,766 - - 6,230 6,221 - - 10,079 9,987 Wholesale - - 20,503 25,675 76,705 96,569 - - 97,208 122,244 BloomNet services - - 35,603 40,544 - - - - 35,603 40,544 Corporate - - - - - - 549 116 549 116 Eliminations - - - - - - (652 ) (742 ) (652 ) (742 ) Total other revenues $ 3,849 $ 3,766 $ 56,106 $ 66,219 $ 82,935 $ 102,790 $ (103 ) $ (626 ) $ 142,787 $ 172,149

Note 12 - Leases (Tables)

Note 12 - Leases (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Six Months Ended December 31, 2023 January 1, 2023 December 31, 2023 January 1, 2023 (in thousands) Lease costs: Operating lease costs $ 5,651 $ 5,606 $ 11,273 $ 10,953 Variable lease costs 7,568 6,603 14,082 12,454 Short-term lease cost 2,535 2,889 3,418 4,454 Sublease income (246 ) (241 ) (497 ) (484 ) Total lease costs $ 15,508 $ 14,857 $ 28,276 $ 27,377 Cash paid for amounts included in measurement of operating lease liabilities $ 11,300 $ 9,851 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,784 $ 10,521 December 31, 2023 (in thousands) Weighted-average remaining lease term - operating leases (in years) 8.4 Weighted-discount rate - operating leases 4.1 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Fiscal Year: Remainder of 2024 $ 9,507 2025 20,644 2026 18,714 2027 17,095 2028 16,179 Thereafter 68,402 Total Future Minimum Lease Payments 150,541 Less: Imputed Remaining Interest 24,368 Total Operating Lease Liabilities 126,173 Less: Current portion of long-term operating lease liabilities 15,433 Long-term operating lease liabilities $ 110,740

Note 13 - Accrued Expenses (Tab

Note 13 - Accrued Expenses (Tables)	6 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2023 July 2, 2023 (in thousands) Payroll and employee benefits $ 30,889 $ 33,927 Deferred revenue 39,928 30,811 Accrued marketing expenses 13,646 13,679 Accrued florist payout 17,981 13,437 Accrued purchases 44,546 18,351 Accrued income taxes 20,756 922 Other 56,338 30,787 Accrued Expenses $ 224,084 $ 141,914

Note 1 - Accounting Policies (D

Note 1 - Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023	Jul. 02, 2023
Contract with Customer, Liability, Current	$ 39,900		$ 39,900		$ 30,800
Contract with Customer, Liability, Revenue Recognized	10,700		26,800
Goodwill and Intangible Asset Impairment	$ 19,762	$ 0	$ 19,762	$ 0

Note 2 - Net Income (Loss) Pe_3

Note 2 - Net Income (Loss) 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. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Net income	$ 62,907	$ 82,530	$ 31,665	$ 48,838
Basic (in shares)	64,835	64,675	64,814	64,606
Effect of dilutive stock options and unvested restricted stock awards (in shares)	342	160	341	214
Diluted weighted-average shares outstanding (in shares)	65,177	64,835	65,155	64,820
Basic net income per common share (in dollars per share)	$ 0.97	$ 1.28	$ 0.49	$ 0.76
Diluted net income per common share (in dollars per share)	$ 0.97	$ 1.27	$ 0.49	$ 0.75

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Jan. 10, 2023	Nov. 30, 2022	Dec. 31, 2023	Jul. 02, 2023
Goodwill			$ 153,577	$ 153,376
Things Remembered Brand [Member]
Revenue from Contract with Customer, Including Assessed Tax		$ 30,400
Things Remembered Brand [Member]
Business Combination, Consideration Transferred	$ 5,000
Goodwill	1,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	1,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment	400
Things Remembered Brand [Member] | Customer Lists [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 800
Finite-Lived Intangible Asset, Useful Life (Year)	3 years
Things Remembered Brand [Member] | Trademarks [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 800

Note 4 - Inventory, Net - Summa

Note 4 - Inventory, Net - Summary of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Finished goods	$ 92,160	$ 92,582
Work-in-process	20,158	33,818
Raw materials	49,006	64,934
Total inventory	$ 161,324	$ 191,334

Note 5 - Goodwill and Intangi_3

Note 5 - Goodwill and Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 2,200		$ 2,200
Finite-Lived Intangible Asset, Expected Amortization, Year One	1,900		1,900
Finite-Lived Intangible Asset, Expected Amortization, Year Two	1,300		1,300
Finite-Lived Intangible Asset, Expected Amortization, Year Three	500		500
Finite-Lived Intangible Asset, Expected Amortization, Year Four	200		200
Finite-Lived Intangible Asset, Expected Amortization, Year Five	300		300
Goodwill and Intangible Asset Impairment	$ 19,762	$ 0	$ 19,762	$ 0

Note 5 - Goodwill and Intangi_4

Note 5 - Goodwill and Intangible Assets, Net - Goodwill by Segment (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Balance	$ 153,376
Measurement period adjustment for Things Remembered Acquisition	201
Balance	153,577
Consumer Floral [Member]
Balance	153,376
Measurement period adjustment for Things Remembered Acquisition	201
Balance	153,577
BloomNet Wire Service [Member]
Balance	0
Measurement period adjustment for Things Remembered Acquisition	0
Balance	0
Gourmet Foods and Gift Baskets [Member]
Balance	0
Measurement period adjustment for Things Remembered Acquisition	0
Balance	$ 0

Note 5 - Goodwill and Intangi_5

Note 5 - Goodwill and Intangible Assets, Net - Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Intangible assets with determinable lives, gross	$ 39,437	$ 39,437
Accumulated amortization	33,013	30,784
Intangible assets with determinable lives, net	6,424	8,653
Trademarks with indefinite lives, gross	111,473	131,235
Total identifiable intangible assets, gross	150,910	170,672
Other intangibles, net	117,897	139,888
Licensing Agreements [Member]
Intangible assets with determinable lives, gross	7,420	7,420
Accumulated amortization	6,622	6,569
Intangible assets with determinable lives, net	$ 798	851
Licensing Agreements [Member] | Minimum [Member]
Finite-lived intangible asset, useful life (Year)	14 years
Licensing Agreements [Member] | Maximum [Member]
Finite-lived intangible asset, useful life (Year)	16 years
Customer Lists [Member]
Intangible assets with determinable lives, gross	$ 29,071	29,071
Accumulated amortization	23,757	21,611
Intangible assets with determinable lives, net	$ 5,314	7,460
Customer Lists [Member] | Minimum [Member]
Finite-lived intangible asset, useful life (Year)	3 years
Customer Lists [Member] | Maximum [Member]
Finite-lived intangible asset, useful life (Year)	10 years
Other Intangible Assets [Member]
Intangible assets with determinable lives, gross	$ 2,946	2,946
Accumulated amortization	2,634	2,604
Intangible assets with determinable lives, net	$ 312	$ 342
Other Intangible Assets [Member] | Minimum [Member]
Finite-lived intangible asset, useful life (Year)	5 years
Other Intangible Assets [Member] | Maximum [Member]
Finite-lived intangible asset, useful life (Year)	14 years

Note 6 - Investments (Details T

Note 6 - Investments (Details Textual) - USD ($) $ in Millions	Dec. 31, 2023	Jul. 02, 2023
Equity Securities without Readily Determinable Fair Value, Amount	$ 2.6	$ 2.6

Note 7 - Debt, Net (Details Tex

Note 7 - Debt, Net (Details Textual) - USD ($) $ in Millions		7 Months Ended
	Jun. 27, 2023	Aug. 01, 2023	Dec. 31, 2023	Jun. 26, 2023
The 2020 Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 225			$ 250
Line of Credit Facility, Maximum Borrowing Capacity During Seasonal Reduction		$ 125
The 2020 Credit Agreement [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate, Increase (Decrease)	0.25%
The New Term Loan [Member] | The 2020 Credit Agreement [Member]
Debt Instrument, Face Amount	$ 200			$ 150
Long-Term Debt, Maturity, First 8 Payments, Quarterly			$ 2.5
Long-Term Debt, Maturity, Subsequent 11 Payments, Quarterly			5
Long-Term Debt, Maturity, Due on Maturity Date			125
Long-Term Debt, Maturity, Remainder of Fiscal Year			5
Long-Term Debt, Maturity, Year One			10
Long-Term Debt, Maturity, Year Two			20
Long-Term Debt, Maturity, Year Three			20
Long-Term Debt, Maturity, Year Four			$ 140
Line of Credit and Term Loan [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Base Rate, Basis Spread on Variable Rate	0.50%
Line of Credit and Term Loan [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Base Rate, Basis Spread on Variable Rate	0.10%

Note 7 - Debt, Net - Summary of

Note 7 - Debt, Net - Summary of Current and Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Deferred financing costs	$ (3,251)	$ (3,609)
Debt instrument, carrying amount	191,749	196,391
Less: current maturities of long-term debt	10,000	10,000
Long-term debt, net	181,749	186,391
Line of Credit [Member]
Revolver	0	0
Term Loan [Member]
Term Loans	$ 195,000	$ 200,000

Note 8 - Property, Plant and _3

Note 8 - Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Property, plant, and equipment, gross	$ 544,750	$ 526,986
Accumulated depreciation and amortization	(317,107)	(292,417)
Property, plant and equipment, net	227,643	234,569
Land [Member]
Property, plant, and equipment, gross	33,866	33,866
Orchards in Production and Land Improvements [Member]
Property, plant, and equipment, gross	20,604	20,401
Building and Building Improvements [Member]
Property, plant, and equipment, gross	68,510	67,647
Leasehold Improvements [Member]
Property, plant, and equipment, gross	30,882	29,524
Equipment [Member]
Property, plant, and equipment, gross	130,043	125,297
Furniture and Fixtures [Member]
Property, plant, and equipment, gross	9,235	9,102
Computer and Telecommunication Equipment [Member]
Property, plant, and equipment, gross	43,041	41,859
Software and Software Development Costs [Member]
Property, plant, and equipment, gross	193,925	181,085
Capital Projects in Progress [Member]
Property, plant, and equipment, gross	$ 14,644	$ 18,205

Note 9 - Fair Value Measureme_3

Note 9 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Jul. 02, 2023
Trading securities held in a “rabbi trust”	[1]	$ 27,183	$ 22,617
Total assets (liabilities) at fair value		27,183	22,617
Fair Value, Inputs, Level 1 [Member]
Trading securities held in a “rabbi trust”	[1]	27,183	22,617
Total assets (liabilities) at fair value		27,183	22,617
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 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Effective Income Tax Rate Reconciliation, Percent	29.60%	25.50%	33.80%	25.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Unrecognized Tax Benefits	$ 1.6		$ 1.6
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.1		$ 0.1
Domestic Tax Authority [Member]
Open Tax Year			2020 2021 2022
State and Local Jurisdiction [Member]
Open Tax Year			2016 2017 2018 2019 2020 2021 2022
Foreign Tax Authority [Member]
Open Tax Year			2017 2018 2019 2020 2021 2022

Note 11 - Business Segments (De

Note 11 - Business Segments (Details Textual)	6 Months Ended
	Dec. 31, 2023
Number of Reportable Segments	3

Note 11 - Business Segments - S

Note 11 - Business Segments - Segment Performance (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Net revenues		$ 822,054	$ 897,877	$ 1,091,104	$ 1,201,481
Depreciation and amortization		(14,152)	(14,315)	(27,346)	(27,009)
Operating income		91,250	115,125	53,673	73,765
Operating Segments [Member]
Contribution margin		137,834	160,737	145,019	162,354
Corporate, Non-Segment [Member]
Net revenues		279	72	549	116
Corporate (a)	[1]	(32,432)	(31,297)	(64,000)	(61,580)
Intersegment Eliminations [Member]
Net revenues		(259)	(527)	(652)	(742)
Consumer Floral and Gifts [Member] | Operating Segments [Member]
Net revenues		254,835	277,049	397,029	439,229
BloomNet [Member] | Operating Segments [Member]
Net revenues		27,236	32,852	56,106	66,219
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member]
Net revenues		539,963	588,431	638,072	696,659
Contribution margin		118,153	123,503	107,125	104,793
Consumer Floral [Member] | Operating Segments [Member]
Net revenues		254,835	277,049	397,029	439,229
Contribution margin		10,593	27,886	19,419	38,696
BloomNet Wire Service [Member] | Operating Segments [Member]
Net revenues		27,236	32,852	56,106	66,219
Contribution margin		$ 9,088	$ 9,348	$ 18,475	$ 18,865
[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 11 - Business Segments - D

Note 11 - Business Segments - Disaggregation of Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Net revenues	$ 822,054	$ 897,877	$ 1,091,104	$ 1,201,481
E-commerce [Member]
Net revenues	738,406	790,410	948,317	1,029,332
Product and Service, Other [Member]
Net revenues	83,648	107,467	142,787	172,149
Product and Service, Other [Member] | Retail and Other [Member]
Net revenues	6,286	6,281	10,079	9,987
Product and Service, Other [Member] | Wholesale [Member]
Net revenues	58,812	80,843	97,208	122,244
Product and Service, Other [Member] | Bloomnet Services [Member]
Net revenues	18,530	20,798	35,603	40,544
Segment Reconciling Items [Member]
Net revenues	20	(455)	(103)	(626)
Segment Reconciling Items [Member] | E-commerce [Member]
Net revenues	0	0	0	0
Segment Reconciling Items [Member] | Product and Service, Other [Member]
Net revenues	20	(455)	(103)	(626)
Consolidation, Eliminations [Member] | Product and Service, Other [Member]
Net revenues	(259)	(527)	(652)	(742)
Consolidation, Eliminations [Member] | Product and Service, Other [Member] | Retail and Other [Member]
Net revenues	0	0	0	0
Consolidation, Eliminations [Member] | Product and Service, Other [Member] | Wholesale [Member]
Net revenues	0	0	0	0
Consolidation, Eliminations [Member] | Product and Service, Other [Member] | Bloomnet Services [Member]
Net revenues	0	0	0	0
Corporate, Non-Segment [Member]
Net revenues	279	72	549	116
Corporate, Non-Segment [Member] | Product and Service, Other [Member]
Net revenues	279	72	549	116
Consumer Floral [Member] | Operating Segments [Member]
Net revenues	254,835	277,049	397,029	439,229
Consumer Floral [Member] | Operating Segments [Member] | E-commerce [Member]
Net revenues	252,845	275,081	393,180	435,463
Consumer Floral [Member] | Operating Segments [Member] | Product and Service, Other [Member]
Net revenues	1,990	1,968	3,849	3,766
Consumer Floral [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Retail and Other [Member]
Net revenues	1,990	1,968	3,849	3,766
Consumer Floral [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Wholesale [Member]
Net revenues	0	0	0	0
Consumer Floral [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Bloomnet Services [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | Operating Segments [Member]
Net revenues	27,236	32,852	56,106	66,219
BloomNet Wire Service [Member] | Operating Segments [Member] | E-commerce [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | Operating Segments [Member] | Product and Service, Other [Member]
Net revenues	27,236	32,852	56,106	66,219
BloomNet Wire Service [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Retail and Other [Member]
Net revenues	0	0	0	0
BloomNet Wire Service [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Wholesale [Member]
Net revenues	8,706	12,054	20,503	25,675
BloomNet Wire Service [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Bloomnet Services [Member]
Net revenues	18,530	20,798	35,603	40,544
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member]
Net revenues	539,963	588,431	638,072	696,659
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member] | E-commerce [Member]
Net revenues	485,561	515,329	555,137	593,869
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member] | Product and Service, Other [Member]
Net revenues	54,402	73,102	82,935	102,790
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Retail and Other [Member]
Net revenues	4,296	4,313	6,230	6,221
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Wholesale [Member]
Net revenues	50,106	68,789	76,705	96,569
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member] | Product and Service, Other [Member] | Bloomnet Services [Member]
Net revenues	$ 0	$ 0	$ 0	$ 0

Note 12 - Leases - Lease Costs

Note 12 - Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Operating lease costs	$ 5,651	$ 5,606	$ 11,273	$ 10,953
Variable lease costs	7,568	6,603	14,082	12,454
Short-term lease cost	2,535	2,889	3,418	4,454
Sublease income	(246)	(241)	(497)	(484)
Total lease costs	$ 15,508	$ 14,857	28,276	27,377
Cash paid for amounts included in measurement of operating lease liabilities			11,300	9,851
Right-of-use assets obtained in exchange for new operating lease liabilities			$ 1,784	$ 10,521
Weighted-average remaining lease term - operating leases (in years) (Year)	8 years 4 months 24 days		8 years 4 months 24 days
Weighted-discount rate - operating leases	4.10%		4.10%

Note 12 - Leases - Maturities o

Note 12 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Remainder of 2024	$ 9,507
2025	20,644
2026	18,714
2027	17,095
2028	16,179
Thereafter	68,402
Total Future Minimum Lease Payments	150,541
Less: Imputed Remaining Interest	24,368
Total Operating Lease Liabilities	126,173
Less: Current portion of long-term operating lease liabilities	15,433	$ 15,759
Long-term operating lease liabilities	$ 110,740	$ 117,330

Note 13 - Accrued Expenses - Ac

Note 13 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 02, 2023
Payroll and employee benefits	$ 30,889	$ 33,927
Deferred revenue	39,928	30,811
Accrued marketing expenses	13,646	13,679
Accrued florist payout	17,981	13,437
Accrued purchases	44,546	18,351
Accrued income taxes	20,756	922
Other	56,338	30,787
Accrued Expenses	$ 224,084	$ 141,914