1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) Q2 2024 Earnings Conference Call February 1, 2024 8:00 AM ET

Company Participants

Andy Milevoj - SVP of IR

James McCann - Chairman and CEO

Thomas Hartnett - President

William Shea - CFO

Conference Call Participants

Michael Kupinski - NOBLE Capital Markets

Linda Bolton Weiser - D.A. Davidson

Alex Fuhrman - Craig-Hallum

Operator

Good morning, and welcome to the 1-800-Flowers.Com Fiscal 2024 Second Quarter and Year End Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Andy Milevoj, Senior Vice President, Investor Relations. Please go ahead.

Andy Milevoj

Good morning, and welcome to our fiscal 2024 second quarter earnings call. Joining us today are Jim McCann, Chairman and CEO; Tom Hartnett, President; and Bill Shea, our 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 begin with a brief overview of our second-quarter performance and then turn it over to Tom, who will provide a business update. We will conclude with financial review from Bill, and then we'll open the call for your questions.

Heading into the second quarter, we expected our sales trends to improve, our gross profit margin recovery to continue and our operating expenses to decline. Our performance was essentially in line with our expectations, as our gross profit margin recovery and expense optimization efforts helped to offset what turned out to be a softer than anticipated consumer environment. Most notably, our gross profit margin expanded nicely. And as Bill will highlight further, our pace of margin recovery is happening at a good rate.