1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) Q1 2024 Earnings Conference Call November 2, 2023 8:00 AM ET

Company Participants

Andy Milevoj - Senior Vice President of Investor Relations

James McCann - Chairman and Chief Executive Officer

Thomas Hartnett - President

William Shea - Senior Vice President, Treasurer and Chief Financial Officer

Conference Call Participants

Michael Kupinski - Noble Capital Markets

Alex Fuhrman - Craig-Hallum Capital Group

Operator

Good morning, everyone, and welcome to the 1-800-FLOWERS.COM Incorporated 2024 First 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] Please also note today's event is being recorded.

And at this time, I'd like to turn the floor over to Andy Milevoj, Senior Vice President of Investor Relations. Sir, please go ahead.

Andy Milevoj

Good morning, and welcome to our fiscal 2024 first quarter earnings call. Joining us today are Jim McCann, Chairman and CEO; Tom Hartnett, President; and Bill Shea, CFO.

Before we begin, 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 Jim.

James McCann

Thanks, Andy, and good morning, everyone. Thank you for joining us. This morning, I'll share a few of my thoughts on the current environment, and then I'll turn the call over to Tom, who will provide a business update. We will conclude with a financial update from Bill, and then we'll open it up for your questions.

As we announced this morning, our first quarter performance came in line with our expectations. Most notably, our gross margin expanded quite substantially, led by an 830 basis point improvement within our Gourmet Foods and Gift Baskets segment.