1-800-FLOWERS.COM (FLWS) 10-Q 8 May 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2024	May 03, 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	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		37,141,975

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Jul. 02, 2023
Current assets:
Cash and cash equivalents	$ 183,956	$ 126,807
Trade receivables, net	26,779	20,419
Inventories	159,458	191,334
Prepaid and other	26,437	34,583
Total current assets	396,630	373,143
Property, plant and equipment, net	223,939	234,569
Operating lease right-of-use assets	114,784	124,715
Goodwill	153,577	153,376
Total identifiable intangible assets, net	116,783	139,888
Other assets	34,269	25,739
Total assets	1,039,982	1,051,430
Current liabilities:
Accounts payable	47,015	52,588
Accrued expenses	138,004	141,914
Current maturities of long-term debt	10,000	10,000
Current portion of long-term operating lease liabilities	15,250	15,759
Total current liabilities	210,269	220,261
Long-term debt, net	179,432	186,391
Long-term operating lease liabilities	107,918	117,330
Deferred tax liabilities, net	22,599	31,134
Other liabilities	34,438	24,471
Total liabilities	554,656	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	396,109	388,215
Retained earnings	285,845	271,083
Accumulated other comprehensive loss	(170)	(170)
Treasury stock, at cost, 21,514,159 and 20,565,875 Class A shares at March 31, 2024 and July 2, 2023, respectively and 5,280,000 Class B shares at March 31, 2024 and July 2, 2023	(197,369)	(188,191)
Total stockholders’ equity	485,326	471,843
Total liabilities and stockholders’ equity	1,039,982	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	Mar. 31, 2024	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)	58,781,134	58,273,747
Treasury stock, shares (in shares)	21,514,159	20,565,875
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.01
Common stock, authorized (in shares)	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		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Net revenues	$ 379,405	$ 417,566	$ 1,470,509	$ 1,619,047
Cost of revenues	240,688	277,126	874,167	1,009,383
Gross profit	138,717	140,440	596,342	609,664
Operating expenses:
Marketing and sales	105,828	106,472	376,903	390,077
Technology and development	15,291	14,837	45,417	44,529
General and administrative	32,295	25,922	87,938	81,075
Depreciation and amortization	13,232	13,267	40,578	40,276
Goodwill and intangible impairment	0	64,586	19,762	64,586
Total operating expenses	166,646	225,084	570,598	620,543
Operating income (loss)	(27,929)	(84,644)	25,744	(10,879)
Interest expense, net	881	1,712	8,974	8,676
Other (income) expense, net	(3,574)	1,404	(5,836)	2,474
Income (loss) before income taxes	(25,236)	(87,760)	22,606	(22,029)
Income tax (benefit) expense	(8,333)	(16,767)	7,844	126
Net income (loss) and comprehensive net income (loss)	$ (16,903)	$ (70,993)	$ 14,762	$ (22,155)
Basic net income (loss) per common share (in dollars per share)	$ (0.26)	$ (1.1)	$ 0.23	$ (0.34)
Diluted net income (loss) per common share (in dollars per share)	$ (0.26)	$ (1.1)	$ 0.23	$ (0.34)
Weighted average shares used in the calculation of net income (loss) per common share:
Basic (in shares)	64,489	64,767	64,703	64,660
Diluted (in shares)	64,489	64,767	65,057	64,660

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock Outstanding [Member] Common Class A [Member]	Common Stock Outstanding [Member] Common Class B [Member]	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 (loss)			0	0	0	(22,155)	0	$ 0	(22,155)
Stock-based compensation (in shares)	372,415	0						0
Stock-based compensation			4	0	5,937	0	0	$ 0	5,941
Acquisition of Class A treasury stock (in shares)	0	0						142,005
Acquisition of Class A treasury stock			0	0	0	0	0	$ (1,197)	(1,197)
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 Apr. 02, 2023	58,260,197	32,348,221						25,840,401
Balance at Apr. 02, 2023			583	323	385,822	293,630	(211)	$ (188,149)	491,998
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
Net income (loss)			0	0	0	(70,993)	0	$ 0	(70,993)
Stock-based compensation (in shares)	4,166	0						0
Stock-based compensation			0	0	2,487	0	0	$ 0	2,487
Acquisition of Class A treasury stock (in shares)	0	0						1,757
Acquisition of Class A treasury stock			0	0	0	0	0	$ (22)	(22)
Conversion – Class B into Class A (in shares)	0
Conversion – Class B into Class A			0
Conversion – Class B into Class A (in shares)		0
Conversion – Class B into Class A				0
Balance (in shares) at Apr. 02, 2023	58,260,197	32,348,221						25,840,401
Balance at Apr. 02, 2023			583	323	385,822	293,630	(211)	$ (188,149)	491,998
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 (loss)			0	0	0	14,762	0	$ 0	14,762
Stock-based compensation (in shares)	477,374	0						0
Stock-based compensation			5	0	7,636	0	0	$ 0	7,641
Exercise of stock options (in shares)	30,013	0						0
Exercise of stock options			0	0	258	0	0	$ 0	258
Acquisition of Class A treasury stock (in shares)	0	0						948,284
Acquisition of Class A treasury stock			0	0	0	0	0	$ (9,178)	(9,178)
Balance (in shares) at Mar. 31, 2024	58,781,134	32,348,221						26,794,159
Balance at Mar. 31, 2024			588	323	396,109	285,845	(170)	$ (197,369)	485,326
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
Net income (loss)			0	0	0	(16,903)	0	$ 0	(16,903)
Stock-based compensation (in shares)	12,262	0						0
Stock-based compensation			0	0	3,046	0	0	$ 0	3,046
Exercise of stock options (in shares)	24,903	0						0
Exercise of stock options			0	0	214	0	0	$ 0	214
Acquisition of Class A treasury stock (in shares)	0	0						424,823
Acquisition of Class A treasury stock			0	0	0	0	0	$ (4,391)	(4,391)
Balance (in shares) at Mar. 31, 2024	58,781,134	32,348,221						26,794,159
Balance at Mar. 31, 2024			$ 588	$ 323	$ 396,109	$ 285,845	$ (170)	$ (197,369)	$ 485,326

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Operating activities:
Net income (loss)	$ 14,762	$ (22,155)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Goodwill and intangible impairment	19,762	64,586
Depreciation and amortization	40,578	40,276
Amortization of deferred financing costs	541	998
Deferred income taxes	(8,535)	(4,390)
Bad debt expense	418	2,997
Stock-based compensation	7,641	5,941
Other non-cash items	(122)	(245)
Changes in operating items:
Trade receivables	(6,778)	(15,977)
Inventories	31,674	57,031
Prepaid and other	4,761	2,706
Accounts payable and accrued expenses	(6,077)	(59,806)
Other assets and liabilities	1,426	1,102
Net cash provided by operating activities	100,051	73,064
Investing activities:
Acquisitions, net of cash acquired	0	(5,000)
Capital expenditures	(26,482)	(31,351)
Net cash used in investing activities	(26,482)	(36,351)
Financing activities:
Acquisition of treasury stock	(9,178)	(1,197)
Proceeds from exercise of employee stock options	258	0
Proceeds from bank borrowings	82,000	195,900
Repayment of bank borrowings	(89,500)	(210,900)
Debt issuance cost	0	(383)
Net cash used in financing activities	(16,420)	(16,580)
Net change in cash and cash equivalents	57,149	20,133
Cash and cash equivalents:
Beginning of period	126,807	31,465
End of period	$ 183,956	$ 51,598

Note 1 - Accounting Policies

Note 1 - Accounting Policies	9 Months Ended
	Mar. 31, 2024
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 nine March 31, 2024 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 nine March 31, 2024 March 31, 2024 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	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 2 Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed by dividing the net income (loss) during the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) 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 (loss) per common share: Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 (in thousands, except per share data) Numerator: Net income (loss) $ (16,903 ) $ (70,993 ) $ 14,762 $ (22,155 ) Denominator: Weighted average shares outstanding 64,489 64,767 64,703 64,660 Effect of dilutive stock options and unvested restricted stock awards - - 354 - Diluted weighted-average shares outstanding 64,489 64,767 65,057 64,660 Net income (loss) per common share Basic $ (0.26 ) $ (1.10 ) $ 0.23 $ (0.34 ) Diluted $ (0.26 ) $ (1.10 ) $ 0.23 $ (0.34 )

Note 3 - Acquisitions

Note 3 - Acquisitions	9 Months Ended
	Mar. 31, 2024
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

Note 4 - Inventory	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 4 Inventory 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: March 31, 2024 July 2, 2023 (in thousands) Finished goods $ 86,503 $ 92,582 Work-in-process 22,299 33,818 Raw materials 50,656 64,934 Total inventory $ 159,458 $ 191,334

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets, Net	9 Months Ended
	Mar. 31, 2024
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: Gourmet Consumer Foods & Floral & Gift Gifts BloomNet Baskets Total (in thousands) Balance at July 2, 2023 $ 153,376 $ - $ - $ 153,376 Measurement period adjustment for Things Remembered Acquisition 201 - - 201 Balance at March 31, 2024 $ 153,577 $ - $ - $ 153,577 The Company’s other intangible assets consist of the following: March 31, 2024 July 2, 2023 Gross Gross Amortization Carrying Accumulated Carrying Accumulated Period Amount Amortization Net Amount Amortization Net (in years) (in thousands) Intangible assets with determinable lives Investment in licenses 14 - 16 $ 7,420 $ 6,648 $ 772 $ 7,420 $ 6,569 $ 851 Customer lists 3 - 10 29,071 24,830 4,241 29,071 21,611 7,460 Other 5 - 14 2,946 2,649 297 2,946 2,604 342 Total intangible assets with determinable lives 39,437 34,127 5,310 39,437 30,784 8,653 Trademarks with indefinite lives 111,473 - 111,473 131,235 - 131,235 Total identifiable intangible assets $ 150,910 $ 34,127 $ 116,783 $ 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, not

Note 6 - Investments

Note 6 - Investments	9 Months Ended
	Mar. 31, 2024
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 March 31, 2024 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	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	7 Debt, Net The Company’s current and long-term debt consists of the following: March 31, 2024 July 2, 2023 (in thousands) Revolver $ - $ - Term Loans 192,500 200,000 Deferred financing costs (3,068 ) (3,609 ) Total debt 189,432 196,391 Less: current maturities of long-term debt 10,000 10,000 Long-term debt, net $ 179,432 $ 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 March 31, 2024 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: $2.5 million – remainder of Fiscal 2024, 2025, 2026, 2027, 2028.

Note 8 - Property, Plant and Eq

Note 8 - Property, Plant and Equipment, Net	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 8 Property, Plant and Equipment, Net The Company’s property, plant and equipment consists of the following: March 31, 2024 July 2, 2023 (in thousands) Land $ 33,827 $ 33,866 Orchards in production and land improvements 20,604 20,401 Building and building improvements 68,911 67,647 Leasehold improvements 30,973 29,524 Production equipment 130,890 125,297 Furniture and fixtures 9,294 9,102 Computer and telecommunication equipment 42,832 41,859 Software 192,837 181,085 Capital projects in progress 17,608 18,205 Property, plant and equipment, gross 547,776 526,986 Accumulated depreciation and amortization (323,837 ) (292,417 ) Property, plant and equipment, net $ 223,939 $ 234,569

Note 9 - Fair Value Measurement

Note 9 - Fair Value Measurements	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9 Fair Value Measurements 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 Fair Value Measurements Value Assets (Liabilities) Level 1 Level 2 Level 3 (in thousands) As of March 31, 2024 Trading securities held in a “rabbi trust” (1) $ 31,160 $ 31,160 $ - $ - Total assets (liabilities) at fair value $ 31,160 $ 31,160 $ - $ - 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	9 Months Ended
	Mar. 31, 2024
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 nine March 31, 2024 0.6% 2024 2023 2024 2023 On a regular basis, the Company evaluates the recoverability of deferred tax assets and the need for a valuation allowance. Such evaluations involve the application of significant judgment. The Company considers multiple factors in its evaluation of the need for a valuation allowance, including reversal of deferred tax liabilities, available tax planning strategies that could be implemented to realize the deferred tax assets, and forecasted future taxable income. A valuation allowance is provided when it is more likely than not not March 31, 2024 July 2, 2023, 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 March 31, 2024 twelve

Note 11 - Business Segments

Note 11 - Business Segments	9 Months Ended
	Mar. 31, 2024
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 Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 (in thousands) Net Revenues: Segment Net Revenues: Consumer Floral & Gifts $ 221,207 $ 233,019 $ 618,236 $ 672,248 BloomNet 27,314 36,968 83,420 103,187 Gourmet Foods & Gift Baskets 130,989 147,863 769,061 844,522 Corporate 167 36 716 152 Intercompany eliminations (272 ) (320 ) (924 ) (1,062 ) Total net revenues $ 379,405 $ 417,566 $ 1,470,509 $ 1,619,047 Operating Income: Segment Contribution Margin: Consumer Floral & Gifts $ 22,190 $ 26,136 $ 41,609 $ 64,832 BloomNet 7,506 10,982 25,981 29,847 Gourmet Foods & Gift Baskets (8,172 ) (78,480 ) 98,953 26,313 Segment Contribution Margin Subtotal 21,524 (41,362 ) 166,543 120,992 Corporate (a) (36,221 ) (30,015 ) (100,221 ) (91,595 ) Depreciation and amortization (13,232 ) (13,267 ) (40,578 ) (40,276 ) Operating income $ (27,929 ) $ (84,644 ) $ 25,744 $ (10,879 ) (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 & Gourmet Foods & Corporate and Gifts BloomNet Gift Baskets Eliminations Consolidated March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 (in thousands) Net revenues E-commerce $ 218,590 $ 230,403 $ - $ - $ 121,651 $ 127,398 $ - $ - $ 340,241 $ 357,801 Other 2,617 2,616 27,314 36,968 9,338 20,465 (105 ) (284 ) 39,164 59,765 Total net revenues $ 221,207 $ 233,019 $ 27,314 $ 36,968 $ 130,989 $ 147,863 $ (105 ) $ (284 ) $ 379,405 $ 417,566 Other revenues detail Retail and other 2,617 2,616 - - 1,629 1,686 - - 4,246 4,302 Wholesale - - 12,364 14,695 7,709 18,779 - - 20,073 33,474 BloomNet services - - 14,950 22,273 - - - - 14,950 22,273 Corporate - - - - - - 167 36 167 36 Eliminations - - - - - - (272 ) (320 ) (272 ) (320 ) Total other revenues $ 2,617 $ 2,616 $ 27,314 $ 36,968 $ 9,338 $ 20,465 $ (105 ) $ (284 ) $ 39,164 $ 59,765 Nine Months Ended Consumer Floral & Gourmet Foods & Corporate and Gifts BloomNet Gift Baskets Eliminations Consolidated March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 (in thousands) Net revenues E-commerce $ 611,770 $ 665,866 $ - $ - $ 676,788 $ 721,267 $ - $ - $ 1,288,558 $ 1,387,133 Other 6,466 6,382 83,420 103,187 92,273 123,255 (208 ) (910 ) 181,951 231,914 Total net revenues $ 618,236 $ 672,248 $ 83,420 $ 103,187 $ 769,061 $ 844,522 $ (208 ) $ (910 ) $ 1,470,509 $ 1,619,047 Other revenues detail Retail and other 6,466 6,382 - - 7,859 7,907 - - 14,325 14,289 Wholesale - - 32,867 40,370 84,414 115,348 - - 117,281 155,718 BloomNet services - - 50,553 62,817 - - - - 50,553 62,817 Corporate - - - - - - 716 152 716 152 Eliminations - - - - - - (924 ) (1,062 ) (924 ) (1,062 ) Total other revenues $ 6,466 $ 6,382 $ 83,420 $ 103,187 $ 92,273 $ 123,255 $ (208 ) $ (910 ) $ 181,951 $ 231,914

Note 12 - Leases

Note 12 - Leases	9 Months Ended
	Mar. 31, 2024
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 Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 (in thousands) Lease costs: Operating lease costs $ 5,693 $ 5,627 $ 16,966 $ 16,580 Variable lease costs 6,399 6,499 20,481 18,953 Short-term lease cost 282 474 3,700 4,928 Sublease income (238 ) (253 ) (735 ) (737 ) Total lease costs $ 12,136 $ 12,347 $ 40,412 $ 39,724 Cash paid for amounts included in measurement of operating lease liabilities $ 16,957 $ 15,431 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,153 $ 11,790 March 31, 2024 (in thousands) Weighted-average remaining lease term - operating leases (in years) 8.2 Weighted-discount rate - operating leases 4.1 % Maturities of lease liabilities in accordance with ASC 842 March 31, 2024 Fiscal Year: Remainder of 2024 $ 3,838 2025 20,998 2026 19,076 2027 17,447 2028 16,514 Thereafter 68,722 Total Future Minimum Lease Payments 146,595 Less: Imputed Remaining Interest 23,427 Total Operating Lease Liabilities 123,168 Less: Current portion of long-term operating lease liabilities 15,250 Long-term operating lease liabilities $ 107,918

Note 13 - Accrued Expenses

Note 13 - Accrued Expenses	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 13 Accrued Expenses Accrued expenses consisted of the following: March 31, 2024 July 2, 2023 (in thousands) Payroll and employee benefits $ 25,786 $ 33,927 Deferred revenue 31,661 30,811 Accrued marketing expenses 15,190 13,679 Accrued florist payout 12,733 13,437 Accrued purchases 16,578 18,351 Other 36,056 31,709 Accrued Expenses $ 138,004 $ 141,914

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	9 Months Ended
	Mar. 31, 2024
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

Note 15 - Subsequent Events

Note 15 - Subsequent Events	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	15 Subsequent Events Acquisition of Card Isle On April 3, 2024, The Company used cash on its balance sheet to fund the approximate $3.5 million purchase. Card Isle annual revenue, based on its most recently available financial information, is deemed immaterial to the Company’s consolidated financial statements.

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Mar. 31, 2024
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)	9 Months Ended
	Mar. 31, 2024
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 nine March 31, 2024 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 nine March 31, 2024 March 31, 2024
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)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 (in thousands, except per share data) Numerator: Net income (loss) $ (16,903 ) $ (70,993 ) $ 14,762 $ (22,155 ) Denominator: Weighted average shares outstanding 64,489 64,767 64,703 64,660 Effect of dilutive stock options and unvested restricted stock awards - - 354 - Diluted weighted-average shares outstanding 64,489 64,767 65,057 64,660 Net income (loss) per common share Basic $ (0.26 ) $ (1.10 ) $ 0.23 $ (0.34 ) Diluted $ (0.26 ) $ (1.10 ) $ 0.23 $ (0.34 )

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2024 July 2, 2023 (in thousands) Finished goods $ 86,503 $ 92,582 Work-in-process 22,299 33,818 Raw materials 50,656 64,934 Total inventory $ 159,458 $ 191,334

Note 5 - Goodwill and Intangi_2

Note 5 - Goodwill and Intangible Assets, Net (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	Gourmet Consumer Foods & Floral & Gift Gifts BloomNet Baskets Total (in thousands) Balance at July 2, 2023 $ 153,376 $ - $ - $ 153,376 Measurement period adjustment for Things Remembered Acquisition 201 - - 201 Balance at March 31, 2024 $ 153,577 $ - $ - $ 153,577
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	March 31, 2024 July 2, 2023 Gross Gross Amortization Carrying Accumulated Carrying Accumulated Period Amount Amortization Net Amount Amortization Net (in years) (in thousands) Intangible assets with determinable lives Investment in licenses 14 - 16 $ 7,420 $ 6,648 $ 772 $ 7,420 $ 6,569 $ 851 Customer lists 3 - 10 29,071 24,830 4,241 29,071 21,611 7,460 Other 5 - 14 2,946 2,649 297 2,946 2,604 342 Total intangible assets with determinable lives 39,437 34,127 5,310 39,437 30,784 8,653 Trademarks with indefinite lives 111,473 - 111,473 131,235 - 131,235 Total identifiable intangible assets $ 150,910 $ 34,127 $ 116,783 $ 170,672 $ 30,784 $ 139,888

Note 7 - Debt, Net (Tables)

Note 7 - Debt, Net (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Debt [Table Text Block]	March 31, 2024 July 2, 2023 (in thousands) Revolver $ - $ - Term Loans 192,500 200,000 Deferred financing costs (3,068 ) (3,609 ) Total debt 189,432 196,391 Less: current maturities of long-term debt 10,000 10,000 Long-term debt, net $ 179,432 $ 186,391

Note 8 - Property, Plant and _2

Note 8 - Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2024 July 2, 2023 (in thousands) Land $ 33,827 $ 33,866 Orchards in production and land improvements 20,604 20,401 Building and building improvements 68,911 67,647 Leasehold improvements 30,973 29,524 Production equipment 130,890 125,297 Furniture and fixtures 9,294 9,102 Computer and telecommunication equipment 42,832 41,859 Software 192,837 181,085 Capital projects in progress 17,608 18,205 Property, plant and equipment, gross 547,776 526,986 Accumulated depreciation and amortization (323,837 ) (292,417 ) Property, plant and equipment, net $ 223,939 $ 234,569

Note 9 - Fair Value Measureme_2

Note 9 - Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Carrying Fair Value Measurements Value Assets (Liabilities) Level 1 Level 2 Level 3 (in thousands) As of March 31, 2024 Trading securities held in a “rabbi trust” (1) $ 31,160 $ 31,160 $ - $ - Total assets (liabilities) at fair value $ 31,160 $ 31,160 $ - $ - 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)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 (in thousands) Net Revenues: Segment Net Revenues: Consumer Floral & Gifts $ 221,207 $ 233,019 $ 618,236 $ 672,248 BloomNet 27,314 36,968 83,420 103,187 Gourmet Foods & Gift Baskets 130,989 147,863 769,061 844,522 Corporate 167 36 716 152 Intercompany eliminations (272 ) (320 ) (924 ) (1,062 ) Total net revenues $ 379,405 $ 417,566 $ 1,470,509 $ 1,619,047 Operating Income: Segment Contribution Margin: Consumer Floral & Gifts $ 22,190 $ 26,136 $ 41,609 $ 64,832 BloomNet 7,506 10,982 25,981 29,847 Gourmet Foods & Gift Baskets (8,172 ) (78,480 ) 98,953 26,313 Segment Contribution Margin Subtotal 21,524 (41,362 ) 166,543 120,992 Corporate (a) (36,221 ) (30,015 ) (100,221 ) (91,595 ) Depreciation and amortization (13,232 ) (13,267 ) (40,578 ) (40,276 ) Operating income $ (27,929 ) $ (84,644 ) $ 25,744 $ (10,879 )
Disaggregation of Revenue [Table Text Block]	Three Months Ended Consumer Floral & Gourmet Foods & Corporate and Gifts BloomNet Gift Baskets Eliminations Consolidated March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 (in thousands) Net revenues E-commerce $ 218,590 $ 230,403 $ - $ - $ 121,651 $ 127,398 $ - $ - $ 340,241 $ 357,801 Other 2,617 2,616 27,314 36,968 9,338 20,465 (105 ) (284 ) 39,164 59,765 Total net revenues $ 221,207 $ 233,019 $ 27,314 $ 36,968 $ 130,989 $ 147,863 $ (105 ) $ (284 ) $ 379,405 $ 417,566 Other revenues detail Retail and other 2,617 2,616 - - 1,629 1,686 - - 4,246 4,302 Wholesale - - 12,364 14,695 7,709 18,779 - - 20,073 33,474 BloomNet services - - 14,950 22,273 - - - - 14,950 22,273 Corporate - - - - - - 167 36 167 36 Eliminations - - - - - - (272 ) (320 ) (272 ) (320 ) Total other revenues $ 2,617 $ 2,616 $ 27,314 $ 36,968 $ 9,338 $ 20,465 $ (105 ) $ (284 ) $ 39,164 $ 59,765 Nine Months Ended Consumer Floral & Gourmet Foods & Corporate and Gifts BloomNet Gift Baskets Eliminations Consolidated March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 (in thousands) Net revenues E-commerce $ 611,770 $ 665,866 $ - $ - $ 676,788 $ 721,267 $ - $ - $ 1,288,558 $ 1,387,133 Other 6,466 6,382 83,420 103,187 92,273 123,255 (208 ) (910 ) 181,951 231,914 Total net revenues $ 618,236 $ 672,248 $ 83,420 $ 103,187 $ 769,061 $ 844,522 $ (208 ) $ (910 ) $ 1,470,509 $ 1,619,047 Other revenues detail Retail and other 6,466 6,382 - - 7,859 7,907 - - 14,325 14,289 Wholesale - - 32,867 40,370 84,414 115,348 - - 117,281 155,718 BloomNet services - - 50,553 62,817 - - - - 50,553 62,817 Corporate - - - - - - 716 152 716 152 Eliminations - - - - - - (924 ) (1,062 ) (924 ) (1,062 ) Total other revenues $ 6,466 $ 6,382 $ 83,420 $ 103,187 $ 92,273 $ 123,255 $ (208 ) $ (910 ) $ 181,951 $ 231,914

Note 12 - Leases (Tables)

Note 12 - Leases (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 (in thousands) Lease costs: Operating lease costs $ 5,693 $ 5,627 $ 16,966 $ 16,580 Variable lease costs 6,399 6,499 20,481 18,953 Short-term lease cost 282 474 3,700 4,928 Sublease income (238 ) (253 ) (735 ) (737 ) Total lease costs $ 12,136 $ 12,347 $ 40,412 $ 39,724 Cash paid for amounts included in measurement of operating lease liabilities $ 16,957 $ 15,431 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,153 $ 11,790 March 31, 2024 (in thousands) Weighted-average remaining lease term - operating leases (in years) 8.2 Weighted-discount rate - operating leases 4.1 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Fiscal Year: Remainder of 2024 $ 3,838 2025 20,998 2026 19,076 2027 17,447 2028 16,514 Thereafter 68,722 Total Future Minimum Lease Payments 146,595 Less: Imputed Remaining Interest 23,427 Total Operating Lease Liabilities 123,168 Less: Current portion of long-term operating lease liabilities 15,250 Long-term operating lease liabilities $ 107,918

Note 13 - Accrued Expenses (Tab

Note 13 - Accrued Expenses (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, 2024 July 2, 2023 (in thousands) Payroll and employee benefits $ 25,786 $ 33,927 Deferred revenue 31,661 30,811 Accrued marketing expenses 15,190 13,679 Accrued florist payout 12,733 13,437 Accrued purchases 16,578 18,351 Other 36,056 31,709 Accrued Expenses $ 138,004 $ 141,914

Note 1 - Accounting Policies (D

Note 1 - Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023	Jul. 02, 2023
Contract with Customer, Liability, Current	$ 31,700		$ 31,700		$ 30,800
Contract with Customer, Liability, Revenue Recognized	2,800		29,600
Goodwill and Intangible Asset Impairment	$ 0	$ 64,586	$ 19,762	$ 64,586

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		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Net income (loss)	$ (16,903)	$ (70,993)	$ 14,762	$ (22,155)
Basic (in shares)	64,489	64,767	64,703	64,660
Effect of dilutive stock options and unvested restricted stock awards (in shares)	0	0	354	0
Diluted weighted-average shares outstanding (in shares)	64,489	64,767	65,057	64,660
Basic net income (loss) per common share (in dollars per share)	$ (0.26)	$ (1.1)	$ 0.23	$ (0.34)
Diluted net income (loss) per common share (in dollars per share)	$ (0.26)	$ (1.1)	$ 0.23	$ (0.34)

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Jan. 10, 2023	Nov. 30, 2022	Mar. 31, 2024	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 - Summary of

Note 4 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jul. 02, 2023
Finished goods	$ 86,503	$ 92,582
Work-in-process	22,299	33,818
Raw materials	50,656	64,934
Total inventory	$ 159,458	$ 191,334

Note 5 - Goodwill and Intangi_3

Note 5 - Goodwill and Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 1,100		$ 1,100
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	$ 0	$ 64,586	$ 19,762	$ 64,586

Note 5 - Goodwill and Intangi_4

Note 5 - Goodwill and Intangible Assets, Net - Goodwill by Segment (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 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	Mar. 31, 2024	Jul. 02, 2023
Intangible assets with determinable lives, gross	$ 39,437	$ 39,437
Accumulated amortization	34,127	30,784
Intangible assets with determinable lives, net	5,310	8,653
Trademarks with indefinite lives, gross	111,473	131,235
Total identifiable intangible assets, gross	150,910	170,672
Total identifiable intangible assets, net	116,783	139,888
Licensing Agreements [Member]
Intangible assets with determinable lives, gross	7,420	7,420
Accumulated amortization	6,648	6,569
Intangible assets with determinable lives, net	$ 772	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	24,830	21,611
Intangible assets with determinable lives, net	$ 4,241	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	2,649	2,604
Intangible assets with determinable lives, net	$ 297	$ 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	Mar. 31, 2024	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	Mar. 31, 2024	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			2.5
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	Mar. 31, 2024	Jul. 02, 2023
Deferred financing costs	$ (3,068)	$ (3,609)
Debt instrument, carrying amount	189,432	196,391
Less: current maturities of long-term debt	10,000	10,000
Long-term debt, net	179,432	186,391
Line of Credit [Member]
Revolver	0	0
Term Loan [Member]
Term Loans	$ 192,500	$ 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	Mar. 31, 2024	Jul. 02, 2023
Property, plant, and equipment, gross	$ 547,776	$ 526,986
Accumulated depreciation and amortization	(323,837)	(292,417)
Property, plant and equipment, net	223,939	234,569
Land [Member]
Property, plant, and equipment, gross	33,827	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	68,911	67,647
Leasehold Improvements [Member]
Property, plant, and equipment, gross	30,973	29,524
Equipment [Member]
Property, plant, and equipment, gross	130,890	125,297
Furniture and Fixtures [Member]
Property, plant, and equipment, gross	9,294	9,102
Computer and Telecommunication Equipment [Member]
Property, plant, and equipment, gross	42,832	41,859
Software and Software Development Costs [Member]
Property, plant, and equipment, gross	192,837	181,085
Capital Projects in Progress [Member]
Property, plant, and equipment, gross	$ 17,608	$ 18,205

Note 9 - Fair Value Measureme_3

Note 9 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Jul. 02, 2023
Trading securities held in a “rabbi trust”	[1]	$ 31,160	$ 22,617
Total assets (liabilities) at fair value		31,160	22,617
Fair Value, Inputs, Level 1 [Member]
Trading securities held in a “rabbi trust”	[1]	31,160	22,617
Total assets (liabilities) at fair value		31,160	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		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023	Jul. 02, 2023
Effective Income Tax Rate Reconciliation, Percent	33%	19.10%	34.70%	(0.60%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Deferred Tax Assets, Valuation Allowance	$ 3.2		$ 3.2		$ 3.2
Unrecognized Tax Benefits	3.2		3.2
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.4		$ 0.4
Domestic Tax Jurisdiction [Member]
Open Tax Year			2020 2021 2022
State and Local Jurisdiction [Member]
Open Tax Year			2016 2017 2018 2019 2020 2021 2022
Foreign Tax Jurisdiction [Member]
Open Tax Year			2017 2018 2019 2020 2021 2022

Note 11 - Business Segments (De

Note 11 - Business Segments (Details Textual)	9 Months Ended
	Mar. 31, 2024
Number of Reportable Segments	3

Note 11 - Business Segments - S

Note 11 - Business Segments - Segment Performance (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Net revenues		$ 379,405	$ 417,566	$ 1,470,509	$ 1,619,047
Depreciation and amortization		(13,232)	(13,267)	(40,578)	(40,276)
Operating income		(27,929)	(84,644)	25,744	(10,879)
Operating Segments [Member]
Contribution margin		21,524	(41,362)	166,543	120,992
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Net revenues		167	36	716	152
Corporate (a)	[1]	(36,221)	(30,015)	(100,221)	(91,595)
Intersegment Eliminations [Member]
Net revenues		(272)	(320)	(924)	(1,062)
Consumer Floral and Gifts [Member] | Operating Segments [Member]
Net revenues		221,207	233,019	618,236	672,248
BloomNet [Member] | Operating Segments [Member]
Net revenues		27,314	36,968	83,420	103,187
Gourmet Foods and Gift Baskets [Member] | Operating Segments [Member]
Net revenues		130,989	147,863	769,061	844,522
Contribution margin		(8,172)	(78,480)	98,953	26,313
Consumer Floral [Member] | Operating Segments [Member]
Contribution margin		22,190	26,136	41,609	64,832
BloomNet Wire Service [Member] | Operating Segments [Member]
Contribution margin		$ 7,506	$ 10,982	$ 25,981	$ 29,847
[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		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Net revenues	$ 379,405	$ 417,566	$ 1,470,509	$ 1,619,047
Operating Segments [Member] | Consumer Floral and Gifts [Member]
Net revenues	221,207	233,019	618,236	672,248
Operating Segments [Member] | BloomNet [Member]
Net revenues	27,314	36,968	83,420	103,187
Operating Segments [Member] | Gourmet Foods and Gift Baskets [Member]
Net revenues	130,989	147,863	769,061	844,522
Corporate and Eliminations [Member]
Net revenues	(105)	(284)	(208)	(910)
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Net revenues	167	36	716	152
E-commerce [Member]
Net revenues	340,241	357,801	1,288,558	1,387,133
E-commerce [Member] | Operating Segments [Member] | Consumer Floral and Gifts [Member]
Net revenues	218,590	230,403	611,770	665,866
E-commerce [Member] | Operating Segments [Member] | BloomNet [Member]
Net revenues	0	0	0	0
E-commerce [Member] | Operating Segments [Member] | Gourmet Foods and Gift Baskets [Member]
Net revenues	121,651	127,398	676,788	721,267
E-commerce [Member] | Corporate and Eliminations [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member]
Net revenues	39,164	59,765	181,951	231,914
Product and Service, Other [Member] | Retail and Other [Member]
Net revenues	4,246	4,302	14,325	14,289
Product and Service, Other [Member] | Wholesale [Member]
Net revenues	20,073	33,474	117,281	155,718
Product and Service, Other [Member] | Bloomnet Services [Member]
Net revenues	14,950	22,273	50,553	62,817
Product and Service, Other [Member] | Operating Segments [Member] | Consumer Floral and Gifts [Member]
Net revenues	2,617	2,616	6,466	6,382
Product and Service, Other [Member] | Operating Segments [Member] | Consumer Floral and Gifts [Member] | Retail and Other [Member]
Net revenues	2,617	2,616	6,466	6,382
Product and Service, Other [Member] | Operating Segments [Member] | Consumer Floral and Gifts [Member] | Wholesale [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Operating Segments [Member] | Consumer Floral and Gifts [Member] | Bloomnet Services [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Operating Segments [Member] | BloomNet [Member]
Net revenues	27,314	36,968	83,420	103,187
Product and Service, Other [Member] | Operating Segments [Member] | BloomNet [Member] | Retail and Other [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Operating Segments [Member] | BloomNet [Member] | Wholesale [Member]
Net revenues	12,364	14,695	32,867	40,370
Product and Service, Other [Member] | Operating Segments [Member] | BloomNet [Member] | Bloomnet Services [Member]
Net revenues	14,950	22,273	50,553	62,817
Product and Service, Other [Member] | Operating Segments [Member] | Gourmet Foods and Gift Baskets [Member]
Net revenues	9,338	20,465	92,273	123,255
Product and Service, Other [Member] | Operating Segments [Member] | Gourmet Foods and Gift Baskets [Member] | Retail and Other [Member]
Net revenues	1,629	1,686	7,859	7,907
Product and Service, Other [Member] | Operating Segments [Member] | Gourmet Foods and Gift Baskets [Member] | Wholesale [Member]
Net revenues	7,709	18,779	84,414	115,348
Product and Service, Other [Member] | Operating Segments [Member] | Gourmet Foods and Gift Baskets [Member] | Bloomnet Services [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Corporate and Eliminations [Member]
Net revenues	(105)	(284)	(208)	(910)
Product and Service, Other [Member] | Corporate and Eliminations [Member] | Retail and Other [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Corporate and Eliminations [Member] | Wholesale [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Corporate and Eliminations [Member] | Bloomnet Services [Member]
Net revenues	0	0	0	0
Product and Service, Other [Member] | Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Net revenues	167	36	716	152
Product and Service, Other [Member] | Consolidation, Eliminations [Member]
Net revenues	$ (272)	$ (320)	$ (924)	$ (1,062)

Note 12 - Leases - Lease Costs

Note 12 - Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Operating lease costs	$ 5,693	$ 5,627	$ 16,966	$ 16,580
Variable lease costs	6,399	6,499	20,481	18,953
Short-term lease cost	282	474	3,700	4,928
Sublease income	(238)	(253)	(735)	(737)
Total lease costs	$ 12,136	$ 12,347	40,412	39,724
Cash paid for amounts included in measurement of operating lease liabilities			16,957	15,431
Right-of-use assets obtained in exchange for new operating lease liabilities			$ 3,153	$ 11,790
Weighted-average remaining lease term - operating leases (in years) (Year)	8 years 2 months 12 days		8 years 2 months 12 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	Mar. 31, 2024	Jul. 02, 2023
Remainder of 2024	$ 3,838
2025	20,998
2026	19,076
2027	17,447
2028	16,514
Thereafter	68,722
Total Future Minimum Lease Payments	146,595
Less: Imputed Remaining Interest	23,427
Total Operating Lease Liabilities	123,168
Less: Current portion of long-term operating lease liabilities	15,250	$ 15,759
Long-term operating lease liabilities	$ 107,918	$ 117,330

Note 13 - Accrued Expenses - Ac

Note 13 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jul. 02, 2023
Payroll and employee benefits	$ 25,786	$ 33,927
Deferred revenue	31,661	30,811
Accrued marketing expenses	15,190	13,679
Accrued florist payout	12,733	13,437
Accrued purchases	16,578	18,351
Other	36,056	31,709
Accrued Expenses	$ 138,004	$ 141,914

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) $ in Millions	Apr. 03, 2024 USD ($)
Subsequent Event [Member] | Card Isle [Member]
Payments to Acquire Businesses, Gross	$ 3.5