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Note 14 - Business Segments

6 Months Ended

Dec. 29, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 14 – 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 include the effect of corporate overhead (see (a) below), nor does it include depreciation and amortization, other (income) expense, 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.

		Three Months Ended								Six Months Ended
		December 29,				December 31,				December 29,				December 31,
		2024				2023				2024				2023
		(in thousands)
Net Revenues:
Segment Net Revenues:
Consumer Floral & Gifts		$	234,349			$	254,835			$	369,529			$	397,029
BloomNet			22,837				27,236				45,912				56,106
Gourmet Foods & Gift Baskets			518,454				539,963				602,457				638,072
Corporate			113				279				202				549
Intercompany eliminations			(261	)			(259	)			(518	)			(652	)
Total net revenues		$	775,492			$	822,054			$	1,017,582			$	1,091,104
Operating Income:
Segment Contribution Margin:
Consumer Floral & Gifts		$	21,587			$	10,593			$	26,531			$	19,419
BloomNet			7,460				9,088				14,301				18,475
Gourmet Foods & Gift Baskets			107,277				118,153				95,024				107,125
Segment Contribution Margin Subtotal			136,324				137,834				135,856				145,019
Corporate (a)			(31,117	)			(32,432	)			(64,592	)			(64,000	)
Depreciation and amortization			(14,130	)			(14,152	)			(27,168	)			(27,346	)
Operating income		$	91,077			$	91,250			$	44,096			$	53,673

(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, stock-based compensation, as well as changes in the fair value of the Company's NQDC Plan. 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: 

		Three Months Ended
		Consumer Floral &																Gourmet Foods &								Corporate and
		Gifts								BloomNet								Gift Baskets								Eliminations								Consolidated
		December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023
		(in thousands)
Net revenues
E-commerce		$	232,514			$	252,845			$	-			$	-			$	444,812			$	485,561			$	-			$	-			$	677,326			$	738,406
Other			1,835				1,990				22,837				27,236				73,642				54,402				(148	)			20				98,166				83,648
Total net revenues		$	234,349			$	254,835			$	22,837			$	27,236			$	518,454			$	539,963			$	(148	)		$	20			$	775,492			$	822,054
Other revenues detail
Retail and other			1,835				1,990				-				-				4,559				4,296				-				-				6,394				6,286
Wholesale			-				-				8,571				8,706				69,083				50,106				-				-				77,654				58,812
BloomNet services			-				-				14,266				18,530				-				-				-				-				14,266				18,530
Corporate			-				-				-				-				-				-				113				279				113				279
Eliminations			-				-				-				-				-				-				(261	)			(259	)			(261	)			(259	)
Total other revenues		$	1,835			$	1,990			$	22,837			$	27,236			$	73,642			$	54,402			$	(148	)		$	20			$	98,166			$	83,648

		Six Months Ended
		Consumer Floral &																Gourmet Foods &								Corporate and
		Gifts								BloomNet								Gift Baskets								Eliminations								Consolidated
		December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023				December 29, 2024				December 31, 2023
		(in thousands)
Net revenues
E-commerce		$	366,058			$	393,180			$	-			$	-			$	504,442			$	555,137			$	-			$	-			$	870,500			$	948,317
Other			3,471				3,849				45,912				56,106				98,015				82,935				(316	)			(103	)			147,082				142,787
Total net revenues		$	369,529			$	397,029			$	45,912			$	56,106			$	602,457			$	638,072			$	(316	)		$	(103	)		$	1,017,582			$	1,091,104
Other revenues detail
Retail and other		$	3,471			$	3,849			$	-			$	-			$	6,343			$	6,230			$	-			$	-			$	9,814			$	10,079
Wholesale			-				-				18,683				20,503				91,672				76,705				-				-				110,355				97,208
BloomNet services			-				-				27,229				35,603				-				-				-				-				27,229				35,603
Corporate			-				-				-				-				-				-				202				549				202				549
Eliminations			-				-				-				-				-				-				(518	)			(652	)			(518	)			(652	)
Total other revenues		$	3,471			$	3,849			$	45,912			$	56,106			$	98,015			$	82,935			$	(316	)		$	(103	)		$	147,082			$	142,787

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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.

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