1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) Q2 2023 Earnings Conference Call February 2, 2023 8:00 AM ET
Company Participants
Andy Milevoj - Senior Vice President of Investor Relations
Chris McCann - Chief Executive Officer
Bill Shea - Chief Financial Officer
Tom Hartnett - President
Conference Call Participants
Dan Kurnos - The Benchmark Company
Michael Kupinski - Noble Capital Markets
Alex Berman - Craig-Hallum
Linda Bolton Weiser - D.A. Davidson
Operator
Good morning, and welcome to the 1-800-FLOWERS.COM Inc. Fiscal 2023 Second Quarter Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] And please note that this event is being recorded.
I would now like to turn the conference over to Andy Milevoj, Senior Vice President of Investor Relations. Please go ahead.
Andy Milevoj
Good morning, and welcome to our fiscal 2023 second quarter earnings call. Joining us today are Chris McCann, CEO; Tom Hartnett, President; and Bill Shea, CFO.
Before we begin the call, I'd like to remind you that some of the statements we make on today's call are covered by the Safe Harbor disclaimer contained in our press release and public documents.
During this call, we will make forward-looking statements with predictions, projections and other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, including those contained in our press release and public filings with the Securities and Exchange Commission. The company disclaims any obligation to update any of the forward-looking statements that may be made or discussed during this call.
Additionally, we will discuss certain supplemental financial measures that were not prepared in accordance with GAAP. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in the tables of our earnings release.
And now, I'll turn the call over to Chris.
Chris McCann
Thank you, everyone, and good morning.
Our second quarter results reflect a successful holiday season and benefited from the strength of our food brands and improving gross margins. We did a good job projecting consumer demand for the quarter, particularly related to trends and sales curves.
On a consolidated basis, revenue declined 4.8%. Our Gourmet Foods & Gift Baskets business had a solid quarter, with revenue being relatively flat, while revenue within our Consumer Floral & Gifts segment decreased 12%. This has been keeping with past trends in which consumers gravitate towards food gifting options from floral arrangements in challenging macroeconomic environments.