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Note 15 - Business Segments | 12 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 15. Business Segments The Company’s management reviews the results of the Company’s 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 include the effect of corporate overhead (see (a) below), nor does it include depreciation and amortization, other expense (income), net and income taxes, or stock-based compensation, which are included within corporate overhead. Assets and liabilities are reviewed at the consolidated level by management and not accounted for by segment.
|  | Years ended |
Net revenues |  | June 30, 2024 |  |  | July 2, 2023 |  |  | July 3, 2022 |
|  | (in thousands) |
Segment Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Consumer Floral & Gifts |  | $ | 849,791 |  |  | $ | 920,510 |  |  | $ | 1,059,570 |
BloomNet |  |  | 107,802 |  |  |  | 133,183 |  |  |  | 145,702 |
Gourmet Foods & Gift Baskets |  |  | 874,262 |  |  |  | 965,191 |  |  |  | 1,004,272 |
Corporate |  |  | 796 |  |  |  | 375 |  |  |  | 201 |
Intercompany eliminations |  |  | (1,230 | ) |  |  | (1,406 | ) |  |  | (1,860 | )
Total net revenues |  | $ | 1,831,421 |  |  | $ | 2,017,853 |  |  | $ | 2,207,885 |
|  | Years ended |
Operating Income (Loss) |  | June 30, 2024 |  |  | July 2, 2023 |  |  | July 3, 2022 |
|  | (in thousands) |
Segment Contribution Margin: |  |  |  |  |  |  |  |  |  |  |  |
Consumer Floral & Gifts |  | $ | 67,278 |  |  | $ | 95,535 |  |  | $ | 104,319 |
BloomNet |  |  | 33,766 |  |  |  | 37,197 |  |  |  | 42,515 |
Gourmet Foods & Gift Baskets |  |  | 84,508 |  |  |  | 12,895 |  |  |  | 62,021 |
Segment Contribution Margin Subtotal |  |  | 185,552 |  |  |  | 145,627 |  |  |  | 208,855 |
Corporate (a) |  |  | (133,872 | ) |  |  | (126,965 | ) |  |  | (117,676 | )
Depreciation and amortization |  |  | (53,752 | ) |  |  | (53,673 | ) |  |  | (49,078 | )
Operating income (loss) |  | $ | (2,072 | ) |  | $ | (35,011 | ) |  | $ | 42,101 |
| (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 directly allocable to a specific segment.
The following tables represent a disaggregation of revenue from contracts with customers, by channel:
|  | Years Ended |
|  | Consumer Floral & Gifts |  |  | BloomNet |  |  | Gourmet Foods & Gift Baskets |  |  | Corporate and Eliminations |  |  | Consolidated |
|  | June 30, |  |  | July 2, |  |  | July 3, |  |  | June 30, |  |  | July 2, |  |  | July 3, |  |  | June 30, |  |  | July 2, |  |  | July 3, |  |  | June 30, |  |  | July 2, |  |  | July 3, |  |  | June 30, |  |  | July 2, |  |  | July 3, |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
E-commerce |  | $ | 840,569 |  |  | $ | 911,302 |  |  | $ | 1,049,821 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 773,630 |  |  | $ | 833,320 |  |  | $ | 884,827 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 1,614,199 |  |  | $ | 1,744,622 |  |  | $ | 1,934,648 |
Other |  |  | 9,222 |  |  |  | 9,208 |  |  |  | 9,749 |  |  |  | 107,802 |  |  |  | 133,183 |  |  |  | 145,702 |  |  |  | 100,632 |  |  |  | 131,871 |  |  |  | 119,445 |  |  |  | (434 | ) |  |  | (1,031 | ) |  |  | (1,659 | ) |  |  | 217,222 |  |  |  | 273,231 |  |  |  | 273,237 |
Total net revenues |  | $ | 849,791 |  |  | $ | 920,510 |  |  | $ | 1,059,570 |  |  | $ | 107,802 |  |  | $ | 133,183 |  |  | $ | 145,702 |  |  | $ | 874,262 |  |  | $ | 965,191 |  |  | $ | 1,004,272 |  |  | $ | (434 | ) |  | $ | (1,031 | ) |  | $ | (1,659 | ) |  | $ | 1,831,421 |  |  | $ | 2,017,853 |  |  | $ | 2,207,885 |
Other revenues detail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail and other |  |  | 9,222 |  |  |  | 9,208 |  |  |  | 9,749 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,534 |  |  |  | 9,751 |  |  |  | 10,134 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 18,756 |  |  |  | 18,959 |  |  |  | 19,883 |
Wholesale |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 42,362 |  |  |  | 50,075 |  |  |  | 53,957 |  |  |  | 91,098 |  |  |  | 122,120 |  |  |  | 109,311 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 133,460 |  |  |  | 172,195 |  |  |  | 163,268 |
BloomNet services |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 65,440 |  |  |  | 83,108 |  |  |  | 91,745 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 65,440 |  |  |  | 83,108 |  |  |  | 91,745 |
Corporate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 796 |  |  |  | 375 |  |  |  | 201 |  |  |  | 796 |  |  |  | 375 |  |  |  | 201 |
Eliminations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,230 | ) |  |  | (1,406 | ) |  |  | (1,860 | ) |  |  | (1,230 | ) |  |  | (1,406 | ) |  |  | (1,860 | )
Total other revenues |  | $ | 9,222 |  |  | $ | 9,208 |  |  | $ | 9,749 |  |  | $ | 107,802 |  |  | $ | 133,183 |  |  | $ | 145,702 |  |  | $ | 100,632 |  |  | $ | 131,871 |  |  | $ | 119,445 |  |  | $ | (434 | ) |  | $ | (1,031 | ) |  | $ | (1,659 | ) |  | $ | 217,222 |  |  | $ | 273,231 |  |  | $ | 273,237 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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