1-800 FLOWERS.COM,Inc.(FLWS) 首席执行官 Chris McCann 谈 2020年 第一季度业绩-收益电话抄录

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1-800 FLOWERS.COM, Inc. (NASDAQ:FLWS) Q1 2020 Earnings Conference Call October 31, 2019 11:00 AM ET

1-800 FLOWERS.COM, Inc. (NASDAQ:FLWS) Q1 2020 Earnings Conference Call October 31, 2019 11:00 AM ET

公司参与者

Joe Pititto - Senior Vice President, Investor Relations
Chris McCann - Chief Executive Officer
Bill Shea - Chief Financial Officer

  • Joe Pititto - Senior Vice President, Investor Relations
  • Chris McCann - Chief Executive Officer
  • Bill Shea - Chief Financial Officer

电话会议参与者

Dan Kurnos - The Benchmark Company
Michael Kupinski - Noble Capital Markets
Linda Bolton Weiser - D.A. Davidson
Alex Furman - Craig-Hallum Capital Group
Anthony Lebiedzinski - Sidoti & Company

  • Dan Kurnos - The Benchmark Company
  • Michael Kupinski - Noble Capital Markets
  • Linda Bolton Weiser - D.A. Davidson
  • Alex Furman - Craig-Hallum Capital Group
  • Anthony Lebiedzinski - Sidoti

会议主持员

Good day and welcome to the 1-800-FLOWERS.COM, Inc. Fiscal 2020 First Quarter Results Conference Call. Today’s conference is being recorded. [Operator Instructions] I would now like to turn this conference over to Joe Pititto, Senior Vice President, Investor Relations. Please go ahead, sir.

Good day and welcome to the 1-800-FLOWERS.COM, Inc. Fiscal 2020 First Quarter Results Conference Call. Today’s conference is being recorded. [Operator Instructions] I would now like to turn this conference over to Joe Pititto, Senior Vice President, Investor Relations. Please go ahead, sir.

Joe Pititto

Joe Pititto

Thank you, Chantel. Good morning and thank you all for joining us today to discuss 1-800-FLOWERS.COM, Inc.’s financial results for our fiscal 2020 first quarter. For those of you who have not received a copy of our press release issued earlier this morning, the release can be accessed at the Investor Relations section of our corporate website at www.1800flowersinc.com. Our call today will begin with brief formal remarks, and then we will open the call to your questions. Presenting today will be Chris McCann, CEO and Bill Shea, CFO.
Before we begin, I need to remind everyone that some of the statements that we will make today may be forward looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. For a detailed description of these risks and uncertainties, please refer to our press release issued this morning as well as our SEC filings, including the company’s annual report on Form 10-K and quarterly reports on Form 10-Q.
In addition, this morning, we will discuss certain supplemental financial measures that were not prepared in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in the tables accompanying the company’s press release issued this morning. The company expressly disclaims any intent or obligation to update any of the forward-looking statements made in today’s call, any recordings of today’s call, the press release issued earlier today or any of its SEC filings, except as may be otherwise stated by the company.
I will now turn the call over to Chris McCann.

Thank you, Chantel. Good morning and thank you all for joining us today to discuss 1-800-FLOWERS.COM, Inc.’s financial results for our fiscal 2020 first quarter. For those of you who have not received a copy of our press release issued earlier this morning, the release can be accessed at the Investor Relations section of our corporate website at www.1800flowersinc.com. Our call today will begin with brief formal remarks, and then we will open the call to your questions. Presenting today will be Chris McCann, CEO and Bill Shea, CFO.

Before we begin, I need to remind everyone that some of the statements that we will make today may be forward looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. For a detailed description of these risks and uncertainties, please refer to our press release issued this morning as well as our SEC filings, including the company’s annual report on Form 10-K and quarterly reports on Form 10-Q.

In addition, this morning, we will discuss certain supplemental financial measures that were not prepared in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in the tables accompanying the company’s press release issued this morning. The company expressly disclaims any intent or obligation to update any of the forward-looking statements made in today’s call, any recordings of today’s call, the press release issued earlier today or any of its SEC filings, except as may be otherwise stated by the company.

I will now turn the call over to Chris McCann.

Chris McCann

Chris McCann

Good morning, everyone. We have had a strong start to fiscal 2020. As I stated in this morning’s press release, our results for the first quarter represent a continuation of the momentum that we built throughout last year. Our revenue growth of more than 10% and EBITDA improvement of nearly 19% reflect the benefits we are getting from the investments that we made last year and continue to make this year in our key Harry & David and 1-800-Flowers brands as well as in our BloomNet business. Importantly, we achieved solid growth in revenues, contribution margin across all three of our business segments.
In Gourmet Food and Gift Baskets, we grew the revenue nearly 18%, driven by strong everyday gifting at Harry & David for such occasions as birthday, sympathy and thank you, along with its new get well collection, growing customer demand for the Harry & David gourmet line including prepared meals and wines for both gifting and entertaining that are attracting a younger shopper to the brand, continued growth in 1-800-Baskets for direct-to-consumer gifts for everyday gifting as well as increased wholesale shipments for the holiday season and contributions from our new Shari’s Berries brand, which we acquired in mid-August. It’s worth noting that we had the Shari’s Berries brand up on our multi-brand platform and helping customers deliver smiles, literally within hours of having closed on the acquisition. This is a real testament to our culture of teamwork and our focus on execution. The integration and development of this new business has been going well. We’ve been working with our fulfillment partners to prepare for the upcoming holiday season, making changes to packaging and improving product quality. And we’ve begun to rework Shari’s Berries messaging and marketing mix and testing into different marketing channels.
While this is still very early, we are encouraged by the customer interest and demand we are seeing. In our floral businesses, 1-800-Flowers and BloomNet were able to effectively leverage the investments we’ve been making in innovative marketing and merchandising programs to achieve solid growth in revenue, gross margin and contribution margin during the quarter. As a result, 1-800-Flowers further extended its market leadership position and BloomNet continued to grow its market share. We expect these trends to continue throughout the fiscal year. During the quarter, BloomNet’s revenue growth was driven primarily by strong digital directory sales and increasing demand for our expanded line of wholesale products, along with continued growth in order volume.
In our 1-800-Flowers business, we launched the plant shop building on the strong growth that we are seeing in plants for both gifting and self-consumption. The plant shop features a new collection of on-trend customer favorites of house plants and an expanded selection of succulents. We are quickly becoming the authority in this fast-growing category, a favorite of millennial customers. We also continue to differentiate and elevate our floral and gift offerings with now trending collections for the fall season, including Rustic Farmhouse and Pumpkin Spice, truly original and exclusive designs that are helping attract younger customers to the 1-800-Flowers brand.

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大家,早安。我们在2020财年有了一个良好的开端。正如我在今天上午的新闻稿中所说,我们第一季度的业绩代表了我们去年全年发展势头的延续。我们的收入增长超过10%,EBITDA增长近19%,这反映出我们从去年以及今年继续在我们的主要Harry&David和1-800-Flowers品牌中获得的投资中获得的收益就像我们的BloomNet业务一样。重要的是,我们在我们所有三个业务领域的收入和贡献率均实现了稳步增长。

在美食和礼品篮方面,我们的收入增长了将近18%,这得益于Harry&David在生日,同情和感谢之际的日常礼物送礼,以及其新的收藏品,对Harry&David的客户需求的增长David美食系列,包括用于送礼和娱乐的便餐和葡萄酒,吸引了年轻的购物者到该品牌; 1-800篮子用于日常礼物的直接面向消费者的礼物的持续增长;以及假期的批发发货季节和我们在8月中旬收购的新的Shari's Berries品牌的贡献。值得注意的是,在收购完成后数小时内,我们在多品牌平台上建立了Shari's Berries品牌,并帮助客户传递微笑。这是对我们团队合作文化和对执行力专注的真实证明。这项新业务的整合和发展一直很好。我们一直在与我们的履行合作伙伴合作,为即将到来的假期做好准备,对包装进行更改并提高产品质量。而且,我们已经开始将Shari's Berries的消息传递和营销组合以及测试方法改编为不同的营销渠道。

虽然还很早,但是我们对客户的兴趣和需求感到鼓舞。在我们的花卉业务中,1-800-Flowers和BloomNet能够有效利用我们在创新营销和商品计划中所做的投资,从而在本季度实现收入,毛利率和贡献利润率的稳步增长。结果,1-800-Flowers进一步扩大了其市场领导地位,而BloomNet继续扩大了其市场份额。我们预计这些趋势将在整个财政年度中持续下去。在该季度中,BloomNet的收入增长主要是由于强劲的数字目录销售以及对我们扩展的批发产品线的需求增加以及订单量的持续增长所推动的。

在我们的1-800鲜花业务中,我们建立了工厂车间,这是基于我们看到的工厂在礼品和自用方面的强劲增长。该植物商店具有一系列最新趋势,深受室内植物的潮流客户青睐,并增加了多肉植物的选择。我们正在迅速成为这一快速增长类别中的权威,这是千禧一代客户的最爱。我们还继续通过秋季流行趋势的产品系列来区分和提升我们的花卉和礼品产品,其中包括Rustic Farmhouse和南瓜香料,这些都是真正原创和独特的设计,正在帮助吸引年轻顾客加入1-800-Flowers品牌。

In addition to the strong revenue growth during the quarter, we also continued double-digit growth in our customer file as well as solid growth in membership in our Passport program and in multi-brand customers. As we’ve noted in the past, these are our best-performing customers in terms of purchase frequency, retention and lifetime value. The strong growth in our customer file bodes well for us as we continue our momentum as we enter the key holiday shopping period.
Before I turn the call over to Bill for the financial metrics for the quarter, I’d like to touch on a few of the initiatives we’ve taken ahead of the holiday season. On the merchandising front, we launched our new Cards with Pop line from The Popcorn Factory, specially designed envelope shaped cards available with uniquely curated sentiments printed on the outside and gourmet popcorn on the inside. Cards With Pop are designed for customers who wish to express their thoughts with witty and relevant sentiments for everyday occasions, cultural moments and holidays, all for $9.99 shipping included. Also off to a great start is the repositioning of our Wolferman’s brand as Wolferman’s Bakery, featuring expansive assortment of exceptional baked goods for perfect for entertaining, self-consumption and gifting. The new positioning reflects how Wolferman’s has evolved from a brand best known for its super-thick English muffins to a full online bakery, offering sweet and savory items baked from scratch daily. As a result of its repositioning, Wolferman’s is already seeing some of the best customer demand that we have experienced in a while.
As we head into the season of sharing, we have also launched a special collection of holiday gifts designed to benefit Smile Farms, a nonprofit organization that is dedicated to creating meaningful jobs for individuals with developmental disabilities. Throughout the holiday season, 20% of all net proceeds from this collection’s sales will be donated to Smile Farms. In terms of innovation to enhance the customer experience, we recently completed the rollout of PWA technology across our brand, significantly increasing site speeds for our customers on their mobile devices. We launched our new Magic Link capability, enhancing our customers’ sign-in experience by allowing them to log into the accounts with a single click, even if they don’t remember their user name and password. And we deployed new 3D capabilities for a collection of top products on the 1-800-Flowers site, enabling customers to not only preview our products in 3 dimensions on both desktop and mobile, but also see what their gifts will look like on a table or in a room by augmented reality on their supported mobile devices.
Looking ahead, as we enter the key holiday period, we have strong momentum across all our business segments. We continue to grow our customer files at a strong pace and our customer metrics continue to be strong, and we have exciting new initiatives underway across the company designed to expand our product offerings and to continually enhance the customer experience. As a result, we are well positioned to deliver strong performance for the holiday period and for the full fiscal year.

除了本季度的强劲收入增长外,我们的客户档案也保持了两位数的增长,并且Passport计划和多品牌客户的会员人数也稳步增长。正如我们过去所指出的,就购买频率,保留率和生命周期价值而言,这些是我们表现最好的客户。客户群的强劲增长对我们来说是个好兆头,因为我们在进入关键的假日购物期时将继续保持增长势头。

在我致电Bill询问本季度的财务指标之前,我想谈谈我们在假期季节之前采取的一些举措。在商品方面,我们推出了The Popcorn Factory的全新Pop系列Cards,这是特别设计的信封形卡片,其外部印有独特的精选情感,内部印有美味的爆米花。 Cards With Pop专为希望在日常场合,文化时刻和假期中用机智和相关情感表达思想的客户而设计,所有这些产品的运费为9.99美元。沃尔夫曼(Wolferman)品牌重新定位为沃尔夫曼(Wolferman's Bakery)也是一个很好的开端,该公司提供种类繁多的特殊烘焙食品,非常适合娱乐,自用和赠送。新的定位反映了沃尔夫曼(Wolferman's)从一个以超厚英式松饼闻名的品牌到一个完整的在线面包店的演变,该面包店每天提供从头开始烘焙的甜咸食品。重新定位后,Wolferman's已经看到了我们一段时间以来遇到的一些最佳客户需求。

在我们进入分享季节的同时,我们还推出了一系列特别的节日礼物,旨在使Smile Farms受益,该组织是一家非营利性组织,致力于为发育障碍者创造有意义的工作。在整个假期期间,该系列产品销售净收益的20%将捐赠给Smile Farms。在创新方面,以改善客户体验,我们最近完成了整个品牌的PWA技术的推广,大大提高了客户在其移动设备上的站点速度。我们推出了新的Magic Link功能,通过允许客户单击即可登录客户,即使他们不记得他们的用户名和密码,也可以增强他们的登录体验。我们在1-800-Flowers网站上为一系列顶级产品部署了新的3D功能,使客户不仅可以在台式机和移动设备上以3维尺寸预览我们的产品,还可以在桌子上看到他们的礼物是什么样子或在其支持的移动设备上通过增强现实在房间中。

展望未来,随着我们进入关键的假期,我们在所有业务领域均拥有强劲的发展势头。我们将继续以强劲的速度增长客户档案,并且客户指标也将继续保持强劲,并且我们在整个公司内都在实施令人兴奋的新计划,旨在扩大我们的产品范围并不断增强客户体验。因此,我们处于良好的位置,可以在假期期间和整个会计年度提供出色的业绩。

I will now turn the call over to Bill. Bill?

I will now turn the call over to Bill. Bill?

Bill Shea

Bill Shea

Thank you, Chris. As Chris noted, we have started fiscal 2020 off very well and we are pleased with the strong top line growth and improved bottom line results in our first quarter. While we saw strong growth across all 3 of our business segments, our Gourmet Food and Gift Baskets segment achieved outsized growth in the quarter. This reflects the benefits from Shari’s Berries as well as the timing of certain wholesale gift basket shipments, which in the past typically occurred in our second quarter. Adjusting for these, growth in this segment was in the high single digits for the quarter, driven by strong growth at Harry & David and 1-800-Baskets.com.
Now breaking down some highlights from our first quarter, first, in terms of revenues, total consolidated revenues increased 10.5% to $187.3 million compared with $169.5 million in the prior year period. This was driven by 17.7% growth in the Gourmet Food and Gift Baskets segment along with 6.7% and 6% growth, respectively, in the Consumer Floral and BloomNet segments. Gross profit margin for the period increased 30 basis points to 40.7%, reflecting increases of 60 basis points and 130 basis points, respectively, in the Consumer Floral and BloomNet segments, more than offsetting a decline of 10 basis points in the Gourmet Food and Gift Baskets segment. The improved gross profit margin reflected a combination of strategic pricing initiatives and more efficient use of promotional marketing programs, which helped to offset higher costs associated with seasonal labor and tariffs. Operating expenses improved 230 basis points to 51.7% of total revenues, primarily reflecting the strong revenue growth in the period. As a result of these factors, we improved our adjusted EBITDA by 18.6% or $2.6 million to a loss of $11.3 million for the quarter. Our net loss for the period also improved nicely to $15.3 million or $0.24 per share compared with $17.3 million or $0.27 per share in the prior year period.
Turning to our balance sheet, our cash and investment position was $34.2 million at the end of the first quarter. Inventory was $172.5 million compared with the inventory of $160.7 million at the end of last year’s first quarter. The increase in inventory supports our growth and includes the decision to buy certain inventory early ahead of expected tariff increases as well as the strategic pre-building of some inventory for the holiday season. As we have noted on our past calls, this strategy allows us to use our core workforce during the slower summer months to somewhat mitigate the headwinds associated with a tight market for seasonal labor and rising hourly wages. In terms of debt, we have $95.8 million outstanding on our credit facility with 0 borrowings on our revolver.
Regarding guidance, we are reiterating our guidance we provided at the beginning of the current fiscal year. Our guidance also includes certain timing issues, in particular, the shipping of several million dollars in wholesale basket shipments into our first fiscal quarter, which will reduce the total wholesale shipments in our current fiscal second quarter. As a result, our guidance remains as follows. Total consolidated revenue growth for the full fiscal year of 8% to 9%, consisting of 6% to 7% organic revenue growth, combined with the anticipated contributions from Shari’s Berries, adjusted EPS growth for the year in the range of 8% to 10% and free cash flow for the year of approximately $45 million.

谢谢克里斯。正如克里斯指出的那样,我们已经非常顺利地开始了2020财年,我们对第一季度的强劲顶线增长和改善的底线业绩感到满意。尽管我们三个业务部门均实现了强劲增长,但我们的美食食品和礼品篮业务本季度实现了超额增长。这反映出伊斯兰教教士的浆果的好处以及某些批发礼品篮的发运时间,过去通常发生在我们的第二季度。对此进行调整后,由于哈利与戴维(Harry&David)和1-800-Baskets.com的强劲增长,本季度该细分市场的增长率为高个位数。

现在从第一季度开始,我们就分解了一些重点,首先,就收入而言,合并总收入增长了10.5%,达到1.873亿美元,而去年同期为1.695亿美元。这是由美食食品和礼品篮板块增长17.7%以及消费花卉和BloomNet板块分别增长6.7%和6%所推动的。期内毛利率增加30个基点至40.7%,反映了消费者花卉和BloomNet部门分别增加60个基点和130个基点,抵消了美食食品和礼品业务下降10个基点的影响。篮段。毛利率的提高反映了战略性定价举措和更有效地使用促销营销计划的结合,这有助于抵消与季节性劳动力和关税相关的更高成本。营业支出提高了230个基点,占总收入的51.7%,主要反映了该期间收入的强劲增长。由于这些因素,我们将调整后的EBITDA提高了18.6%,即260万美元,当季亏损1130万美元。我们同期的净亏损也从上年同期的1,730万美元或每股0.27美元大幅改善至1,530万美元或每股0.24美元。

关于我们的资产负债表,我们在第一季度末的现金和投资头寸为3,420万美元。库存量为1.725亿美元,而去年第一季度末的库存量为1.607亿美元。库存的增加支持了我们的增长,其中包括决定在预期的电价上调之前提早购买某些库存,以及在假日季节对一些库存进行战略性的预先建设。正如我们在过去的电话会议中指出的那样,该策略使我们能够在夏季最慢的月份使用我们的核心劳动力,从而在一定程度上缓解与季节性劳动力市场紧张和小时工资上涨相关的不利因素。在债务方面,我们的信贷额度为9,580万美元,左轮手枪借款为0。

关于指导,我们重申我们在本财政年度开始时提供的指导。我们的指导还包括某些时间安排问题,特别是将数百万美元的批发购物篮发货运送到我们的第一财季,这将减少我们当前的第二财季的批发总发货量。因此,我们的指导仍然如下。整个财年的合并总收入增长率为8%至9%,其中包括6%到7%的自然收入增长率,以及Shari's Berries的预期贡献,调整后的全年EPS增长率在8%到10之间年的自由现金流约为4,500万美元。

I will now turn the call back to Chris.

I will now turn the call back to Chris.

Chris McCann

Chris McCann

Thanks, Bill. So to sum up, we had a strong start to fiscal ‘20. Our results for the first quarter represent a continuation of the momentum that we’ve built throughout last year and beyond. We are seeing the benefits of the investments we’ve been making in marketing and merchandising programs in the form of strong revenue growth and increasing EBITDA and EPS, driven by all three of our business segments. We are continuing to invest in innovative technologies that help enhance customer experience, resulting in growing customer engagement and we are continuing to grow our customer file across the enterprise, along with increasing membership in our Passport program and in customers buying from multiple brands. As a result, as we head into the important holiday season, we are well positioned to continue our momentum and deliver strong revenue growth and enhanced bottom line results. I’d like to take a minute to thank all the team members of our company who delivered these results for Q1 and for all the planning that has positioned us so well to continue this momentum into Q2.
With that, we would now like to open the call for any of your questions. So Chantel, could you please repeat the instructions for Q&A.

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谢谢,比尔。综上所述,我们在20年代有了一个良好的开端。我们第一季度的业绩代表了我们去年和以后的发展动力的延续。在我们所有三个业务部门的推动下,我们看到了我们在市场营销和商品计划中进行的投资所带来的好处,即收入增长强劲,EBITDA和EPS均有所增长。我们将继续投资于创新技术上,以帮助改善客户体验,从而提高客户参与度,并继续增加我们在整个企业中的客户档案,同时增加Passport计划的会员资格以及从多个品牌购买产品的客户。因此,当我们进入重要的假期季节时,我们处于有利位置,可以继续保持增长势头,实现强劲的收入增长和更高的利润底线。我想花一点时间感谢公司所有团队成员,他们在第一季度提供了这些结果,并且感谢所有计划使我们能够很好地将这种势头延续到第二季度。

这样,我们现在想就您的任何问题打开电话。因此,Chantel,能否请您重复进行问答的说明。

问答环节

Thank you. [Operator Instructions] Our first question will come from Dan Kurnos, The Benchmark Company LLC.

谢谢。 [操作员说明]我们的第一个问题将来自The Benchmark Company LLC的Dan Kurnos。

丹·库尔诺斯

Thanks. Good morning and nice quarter guys. Chris, look I think not to too much alter your words, but it sounds like your share gains are good, you expect will continue after all the investments you have made and yet in the quarter, you had pretty nice leverage, which I think was a little bit of a surprise. There has been a lot of rumors and expectations out there after Nexus took over FTD’s stuff. They still don’t have a CEO. So if you could just kind of talk to the competitive environment you are seeing now in this quarter and going into the holiday period? I would appreciate it.

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谢谢。 早上好,四分之一家伙。 克里斯(Chris),看来我认为不要过多地改变您的言论,但听起来您的股份收益不错,您希望所有投资完成后仍会继续,但是在本季度中,您拥有相当不错的杠杆作用,我认为 有点意外目前已经有很多传闻和期待在那里的Nexus接管了FTD的东西之后。他们仍然没有一个CEO。 因此,如果您只能谈论竞争环境,那么您现在可以看到本季度并进入假期吗? 我会很感激。

Chris McCann

Chris McCann

Great, Daniel. Thank you for recognizing the share gains that we have achieved and showing some leverage. Yes, as we look at the competitive landscape across the categories that we’re in, we really haven’t seen any changes, whether on the gourmet food side or on the floral side of it. Q1, you wouldn’t expect to see that, but we really haven’t seen any change in the competitive landscape. And I think as we look at that, we continue the share gains that we are getting continue to be because of our relentless focus on what we do well, our focus on building our brands and what our brand stands for, enhancing investing and enhancing the customer experience, bringing new product extensions to the table, like the plant shop, the on-trend floral bouquets that we talked about. So it’s really a combination of all of this that’s helping us to build out customer file and as we do that, it gives us great confidence that this momentum will continue no matter what the competitive environment is. And if you keep in mind in the past, we have been in a very competitive environment especially on the floral category and we have continued to do well, increasing our margins along the way, growing market share. So even in an irrational spend market, we have done well. And if the market becomes a little bit more rational, we think that bodes even better for us.

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太好了,丹尼尔。感谢您认识到我们所取得的份额增长并显示出一定的杠杆作用。是的,当我们查看所涉类别的竞争格局时,无论是在美食方面还是在花艺方面,我们确实都没有看到任何变化。第一季度,您不会期望看到这种情况,但我们确实没有看到竞争格局发生任何变化。我认为,鉴于此,我们将继续获得份额增长,这是因为我们坚持不懈地专注于自己擅长的领域,专注于打造自己的品牌以及品牌所代表的意义,加强投资并增强客户体验,为我们带来了新产品扩展,例如我们讨论的工厂车间,流行的鲜花花束。因此,这实际上是所有这些的结合,可以帮助我们建立客户档案,并且当我们这样做时,它使我们充满信心,无论竞争环境如何,这种势头都会持续下去。而且,如果您牢记过去,我们一直处于竞争激烈的环境中,尤其是在花卉类别上,我们一直表现良好,一路提高利润率,扩大市场份额。因此,即使在不合理的支出市场上,我们也做得很好。而且,如果市场变得更加理性一些,我们认为这对我们来说是更好的选择。

丹·库尔诺斯

Got it. Great. And then I don’t know if this is for you, Chris or for Bill, but just there is 1 less week it happens whatever 6 years or 7 years, but there is 1 less week this holiday period, just how are you thinking about the impact, I know that’s embedded in your guidance? If you could just help us think through how you guys are planning for logistics and how you expect order demand to be impacted by that? That would be helpful.

得到它了。 大。 然后我不知道这是给你,克里斯还是比尔,但是不管是6年还是7年,每周只有少一周的时间,但是这个假期少了一周,你在想什么 影响,我知道这已嵌入到您的指南中? 如果您能帮助我们仔细考虑一下你们如何计划物流以及您如何期望订单需求会受到影响? 那会有所帮助。

Chris McCann

Chris McCann

Yes. And as you point out, that is embedded in our guidance. And we certainly have gone back to years past when that’s been the case to, to do our planning. It does affect how we go to market a little bit differently. It changes some of the timing of our marketing initiatives, trying to move things up a little bit, some early order incentives that we’ll give our customers trying to get orders in a little bit earlier, get the holiday season going before Thanksgiving a little bit, so putting some emphasis there. Bill, you want to talk you have been integrally involved in the planning on the logistics side of things?

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是。 正如您指出的那样,这已嵌入我们的指南中。 当然,我们可以追溯到几年前来进行计划。 这确实对我们进入市场的方式产生了一些不同的影响。 它改变了我们的市场营销计划的时间安排,试图使事情加快一点,一些早期订单激励措施将使我们的客户能够尽早获得订单,让假期在感恩节之前开始 一点,所以在这里强调一下。 比尔,您想谈谈您已经参与了物流方面的规划吗?

Bill Shea

Bill Shea

Yes, we work very closely with FedEx, our major small package delivery partner. And we have a plan in place to fully deploy more inventory closer to consumer, it helps save on – we get better and better at this each year. It helps save on small package delivery cost, but also gets the product closer to the consumer so we can ship later in the year. We’ve also worked with FedEx on the number of kind of direct truckloads that we put into their hubs. So again, we can just kind of react very quickly to the later demand that’s happening this year. So to your point, Dan, the 6 less shopping days has an impact on both the front end, I think we have addressed that. We have built that into the guidance that we have. And operationally, we have been working with our partners to address that. We feel very comfortable on that end.

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是的,我们与主要的小包裹递送合作伙伴FedEx紧密合作。 我们已经制定了计划,以在消费者附近更充分地部署更多库存,这有助于节省费用–我们每年都在变得越来越好。 它有助于节省小包装的交付成本,还可以使产品更接近消费者,因此我们可以在今年晚些时候发货。 我们还与联邦快递(FedEx)合作,研究了将其放入集线器中的直接卡车数量。 同样,我们可以对今年以后出现的需求做出快速反应。 因此,丹,在您看来,减少购物的6天对前端和前端都有影响,我认为我们已经解决了这一问题。 我们已将其纳入我们的指导中。 在运营上,我们一直在与合作伙伴合作以解决这一问题。 为此,我们感到非常舒适。

丹·库尔诺斯

Alright. Perfect. Thanks for the color guys. We will get back in queue and congrats again.

好的。 完善。 谢谢有色人种。 我们将重新排队并再次表示祝贺。

会议主持员

Thank you. Our next question will come from Michael Kupinski, Noble Capital Markets.

谢谢。 我们的下一个问题将来自来宝资本市场的Michael Kupinski。

Michael Kupinski

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迈克尔·库平斯基

Thank you and congratulations on your quarter. Very good start to the year. Can you talk a little bit about what might have changed in the last quarter in terms of the competitive landscape? I know that you indicated that there were some heightened cost for search words and things like that. I was just wondering if there is anything that may have changed in the last quarter particularly?

谢谢你,恭喜你。 今年开局很好。 您能否谈谈上一季度在竞争格局方面可能发生的变化? 我知道您指出,搜索词之类的费用有所增加。 我只是想知道在上个季度是否有任何变化?

Chris McCann

Chris McCann

Yes, thanks. Thanks, Michael. I would say, no, there has been no real change. Again, Q1 is not a big quarter where we would expect to see much change. You referenced search terms going up and then that’s just a kind of general market condition, not necessarily to our competitive set. So in Q1, we haven’t seen any real change in the competitive landscape whether it be on the floral side of our business, on the gourmet food side or in some of the general gifting products that we are moving into. And again, what we see is a continued engagement with our brand, people responding well to the new product offerings that we are bringing out. That’s why we have highlighted the plant shed. It’s been doing great for us. That’s why we highlighted the Harry & David gourmet line, which is doing fantastic for us, especially helping us to attract the younger demographic customer responding well in our digital marketing campaigns. So as we look at really kind of especially the short term, as we really look focused on Q2, as we’re moving into it, we think we’re really, really well positioned, but beyond that as well.

对了谢谢。谢谢,迈克尔。我会说,不,没有真正的改变。同样,第一季度并不是一个很大的季度,我们希望看到很大的变化。您引用了上升的搜索字词,但这只是一种一般的市场情况,不一定符合我们的竞争条件。因此,在第一季度,无论是在业务的花艺方面,美食方面还是我们将要进入​​的某些普通礼品产品中,我们都没有看到竞争格局的任何真正变化。再说一次,我们看到的是与我们品牌的持续互动,人们对我们推出的新产品提供了很好的响应。这就是为什么我们强调了棚子的原因。这对我们来说很棒。因此,我们着重介绍了Harry&David美食系列,这对我们来说真是太好了,特别是帮助我们吸引了年轻的人口统计客户,他们在我们的数字营销活动中反应良好。因此,当我们着眼于特别是短期的情况时,因为我们真正地专注于第二季度,所以在迈向第二阶段时,我们认为自己的位置确实非常好,但除此之外还可以。

Michael Kupinski

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迈克尔·库平斯基

Got it. And then the Consumer Floral business, can you talk a little bit about volume versus pricing maybe?

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得到它了。 然后是Consumer Floral业务,您能否谈谈数量与定价之间的关系?

Chris McCann

Chris McCann

So I’ll ask Bill to cover that, but it’s pretty straightforward.

因此,我将请比尔介绍一下,但这很简单。

Bill Shea

Bill Shea

Yes, it really is all volume. There really hasn’t been much change in our AOVs. So the 6.7% growth that you saw in Consumer Floral is really driven by volume.

是的,这确实是全部。 我们的AOV确实没有太大变化。 因此,您在《消费花卉》中看到的6.7%的增长实际上是由销量驱动的。

Michael Kupinski

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迈克尔·库平斯基

Got it. And in BloomNet, can you talk a little bit about the number of florists in your network, has that been increasing? And just like maybe if you can provide that year-over-year, what that looks like?

得到它了。 在BloomNet中,您能否谈谈网络中花店的数量,这种数量是否正在增加? 就像也许您可以逐年提供那样,那会是什么样子?

Chris McCann

Chris McCann

Yes. So I’ll take that. As we’ve said for a long time now, BloomNet, we’re not looking to really grow the membership. So that stays in that 5,000 to 6,000 range, and get some churn in there, you get new members coming in. We’ve seen some success in new members coming into the network coming from the FTD network into BloomNet. So we’ve seen that in the past 3 to 6 months, I would say. But really, the number stays fairly stable. And what’s been important for us is really, as in the last year, as we moved order volume into BloomNet, that deepens the relationship we have with those BloomNet members. And then we start to really utilizing – basically out of that relationship gets us more sales into our wholesale products and marketing services like the digital directory, some of the search marketing services, wholesale products I mentioned, and that’s what we saw this quarter. So chronologically, that’s what we expect. Bring the orders in, deepen the relationship, start to sell products and services into those relationships.

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是。所以我接受。就像我们已经说了很长一段时间的BloomNet一样,我们并不希望真正增加会员数量。这样一来,价格就保持在5,000到6,000的范围内,并在其中流失了一部分,您吸引了新成员。因此,我想说在过去3到6个月中,但实际上,这个数字保持稳定。对我们来说,真正重要的是,就像去年一样,当我们将订单量转移到BloomNet时,加深了我们与BloomNet成员的关系。然后,我们开始真正地利用-基本上是从这种关系中,我们可以将更多的销售收入用于批发产品和营销服务,例如数字目录,一些搜索营销服务,我提到的批发产品,这就是我们本季度的情况。因此,按时间顺序,这就是我们的期望。接受订单,加深关系,开始向这些关系销售产品和服务。

Bill Shea

Bill Shea

Yes. And ultimately, the BloomNet model and what we’ve outlined over the last couple of years is that we want to continue to drive, ultimately, contribution margin within that. It was going to initially come from the large increase in orders, that we started at the end of fiscal ‘18, kind of ran through fiscal ‘19 and now we’re comping against those. So that was – that drove the large top line growth, had some impact on our gross margins last year. Now the second stage of that is to monetize those orders. So as Chris referenced, you’re seeing increases in kind of the digital directory that we’re selling, seeing increases in wholesale. So now we have gross margins moderating, revenues coming down a little bit, but we still think we’ll have very healthy top line growth in – within BloomNet and still driving incremental margin dollars and incremental contribution margin dollars.

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是。 最终,BloomNet模型以及我们在过去几年中概述的内容是,我们希望最终继续在此范围内提高贡献率。 最初的原因是订单的大幅增加,我们从18财年末开始,一直延续到19财年,现在我们正在与之抗衡。 那就是–推动了收入的大幅增长,对我们去年的毛利率产生了一些影响。 现在,第二阶段是通过这些订单获利。 因此,正如Chris所引用的那样,您看到的是我们销售的数字目录的种类有所增加,批发的数量也有所增加。 因此,现在我们的毛利率有所下降,收入略有下降,但我们仍然认为,BloomNet内部的顶线增长将非常健康,并且仍在推动增量保证金和增量贡献保证金。

Chris McCann

Chris McCann

And we’re still seeing some order growth there as well. So we think we’re in a good position.

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而且,那里的订单仍在增长。 因此,我们认为我们处于有利位置。

Bill Shea

Bill Shea

And in terms of the wage pressures that you were talking about, I know like last year, you indicated that you had heightened issues with seasonal help from Mexico given the political rhetoric that was going on, has that kind of stabilized or has that improved somewhat? Can you just kind of give me some idea as to what’s happening there?

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关于您所谈论的工资压力,我知道像去年一样,您表示由于政治言论的持续,稳定或有所改善,墨西哥的季节性帮助加剧了问题? 您能告诉我那里发生的事情吗?

Chris McCann

Chris McCann

So Bill, why don’t you touch on the labor side? I mean we’re in a good position right now. I’ll talk about the seasonal labor. But, Bill, give a little more flavor on that?

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所以,比尔,你为什么不谈劳方呢? 我的意思是我们现在处于良好状态。 我将谈论季节性劳动。 但是,比尔,请给它更多一点风味?

Bill Shea

Bill Shea

Yes. I mean so overall, obviously, we hire a large number of seasonal workers. And labor, like most businesses, we’re dealing with a tight labor market and rising labor costs. We certainly have had to increase our labor wages. We offer lots of programs, both in season and beyond to retain and attract that seasonal workforce. We offer product discounts, special sweepstakes, retention bonuses, bus passes, meal passes, et cetera, to kind of bring that – as much of that seasonal labor force back year-after-year. We talked about strategies to lessen our dependency on that seasonal labor like prebuilding inventory. You see that at the end of Q1 with our inventory up in Q1 this year over where it was a year ago. We continue to invest in automation initiatives, whether it be in our warehouses or manufacturing or distribution centers. What’s really important to note here is there’s really two aspects of labor; one, can you get the labor, and two, what’s it costing you. Well, we were very successful in getting the labor. We have the labor that we need to execute against the holiday season. So that’s critical. Two, it is costing us more dollars this year to get that labor. We’ve put that into the guidance that we provided.

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是。我的意思是,总的来说,显然,我们雇用了大量的季节性工人。劳动力,像大多数企业一样,我们正面临着劳动力市场紧张和劳动力成本上涨的问题。当然,我们必须提高劳动工资。我们提供各种计划,无论是在季节还是以后,都可以保留和吸引该季节的劳动力。我们提供产品折扣,特殊抽奖,保留奖金,公交通行证,进餐通行证等等,以使这种情况得到改善-大量的季节性劳动力逐年回归。我们讨论了减少对季节性工时的依赖的策略,例如建立库存。您会看到在第一季度末,我们的库存在今年第一季度比一年前有所增加。我们将继续投资自动化计划,无论是在我们的仓库中还是在制造或配送中心。这里真正要注意的是,实际上有两个方面的劳动;一是可以得到劳动力,二是要花多少钱。好吧,我们在获得工作上非常成功。我们拥有在假日季节需要执行的工作。所以这很关键。第二,要获得这项工作,今年我们要花费更多的钱。我们已将其纳入我们提供的指南中。

Michael Kupinski

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迈克尔·库平斯基

Got it. And then final question, regarding you indicated that you kind of tweaked and did some extra marketing, and I noticed that I’m getting a few more catalogs from some of your other brands that I had before. Is that part of the marketing strategy? I was just wondering if you can maybe talk a little bit about the movement there on the catalog side.

得到它了。 关于您的最后一个问题是,您表示已经进行了一些调整,并进行了一些额外的营销,我注意到我从以前拥有的其他一些品牌中获得了更多目录。 那是营销策略的一部分吗? 我只是想知道您是否可以谈谈目录侧的运动。

Chris McCann

Chris McCann

Yes, I would say you are probably getting some catalogs maybe because you’ve been purchasing from some of our other brands.

是的,我想您可能会获得一些目录,也许是因为您是从其他一些品牌购买的。

Michael Kupinski

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迈克尔·库平斯基

I do that often.

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我经常这样做。

Chris McCann

Chris McCann

Thank you. We haven’t been increasing our spend on catalog marketing. If anything, we’ve been continually decreasing the spend on catalog marketing, especially on this prospecting side of things. And more of that money and spend is going into digital marketing. We’ve been talking about the success we’ve been having there and how we’re moving more and more Harry & David into a digital marketing entity and that’s working real well for us. So bottom line, we’re not spending more money into catalog marketing. We’re migrating more and more into digital marketing where we’ll be able to see better returns and also better flexibility in short-term responsiveness as we see what the – how the market develops in any given season.

谢谢。 我们一直没有增加在目录营销上的支出。 如果有的话,我们一直在不断减少目录营销方面的支出,尤其是在勘探方面。 而更多的金钱和支出将用于数字营销。 我们一直在谈论我们一直在那里取得的成功,以及我们如何将越来越多的Harry&David转变为数字营销实体,这对我们来说确实运作良好。 因此,最重要的是,我们不会在目录营销上花费更多的钱。 我们正在越来越多地迁移到数字营销,在此过程中,我们将看到在任何给定季节中市场的发展情况,从而能够在短期响应中看到更好的回报和更好的灵活性。

Michael Kupinski

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迈克尔·库平斯基

Alright, thank you. That’s all I have. Thank you.

好,谢谢。 这就是我的全部。 谢谢。

Chris McCann

Chris McCann

Thank you

谢谢

会议主持员

Thank you very much. Our next question will come from Linda Bolton Weiser, D.A. Davidson.

非常感谢你。 我们的下一个问题将来自D.A.的Linda Bolton Weiser。 戴维森

Linda Bolton Weiser

Yes hi, congratulations on a good quarter. So I was wondering about the cadence of sales for Shari’s Berries. It sounds like it was a couple of million in the quarter. Chris, this quarter would be maybe a little bigger, like $4 million, but then the biggest would be the March and June quarters, maybe $10 million each? Am I in the ballpark range on that? Can you comment at all on the cadence for Shari’s Berries. And just confirm that it’s being recorded in Consumer Floral. Is that correct?

是的,您好,恭喜您。 所以我想知道伊斯兰教教士的浆果的销售节奏。 听起来好像是该季度的几百万。 克里斯(Chris),这个季度可能要大一些,例如400万美元,但是最大的一个是3月和6月的季度,每个季度1000万美元? 我在球场上吗? 您能否评论Shari's Berries的节奏。 只需确认它已记录在Consumer Floral中即可。 那是对的吗?

Chris McCann

Chris McCann

Sure. I’ll ask Bill to kind of cover the cadence and where it’s being recorded. But again, as I stated in my opening remarks, we’re very pleased. Shari’s Berries is off to a good start. As you point out, Linda, in Q1, it’s going to be a slow – low quarter anyway, but we only acquired it mid-August, and we are in the process of getting it up and running. It’s a contributor really to the overall momentum that we have of the 10.5%, almost 11% growth for the quarter and what we are seeing in gourmet food category, what we are seeing across all three of our businesses. So what we do is really – we have this celebratory ecosystem, this platform that we built, and we look for businesses like that and you will continue to see us do this that we can tuck in nicely, leverage the platform and contribute to our overall growth rate moving us this quarter up above 10% growth. So strategically, that’s what we’re looking to do. And Bill, any more color on the specifics there?

当然。我请比尔(Bill)讲一下节奏和记录的位置。但是,正如我在开幕词中所说的,我们非常高兴。莎莉的浆果开端不错。正如您所指出的,Linda在第一季度将是一个缓慢的季度,尽管如此,但我们只是在8月中旬才购买了它,并且我们正在使其启动并运行。这实际上是对我们整个季度10.5%的增长势头,本季度几乎11%的增长以及我们在美食类,整个三项业务中所看到的整体发展的贡献。因此,我们要做的实际上是–我们拥有这个庆祝性生态系统,一个我们构建的平台,并且我们正在寻找类似的企业,您将继续看到我们做到这一点,我们可以很好地融入,利用该平台并为我们的整体做出贡献增长速度使我们本季度增长超过10%。因此,从战略上讲,这就是我们想要做的。还有比尔,那里的细节还有其他颜色吗?

Bill Shea

Bill Shea

Yes. First, Linda, it is captured within the Gourmet Food and Gift Baskets segment, so it’s not in Consumer Floral as you asked. That was a contributor to the overall almost 18% growth in Gourmet Food and Gift Baskets, but it’s about half of what you indicated for the first quarter, more closer to about $2 million in the first quarter. Again, we’ve only owned it for about 6 weeks in the first quarter. The cadence will increase. Q3 and Q4 – especially Q3, with Valentine’s Day is the biggest quarter for Shari’s and it’s probably in the ballpark of what you have indicated at about $10 million or so for that quarter.

是。 首先,琳达(Linda),它是在美食食品和礼品篮部分中捕获的,因此它并不是您所要求的“消费花卉”中的一部分。 这是Gourmet Food and Gift Baskets整体增长近18%的一个原因,但这大约是您在第一季度表示的一半,在第一季度接近200万美元。 同样,我们在第一季度只拥有了大约6周的时间。 节奏将增加。 第3季度和第4季度,尤其是第3季度,情人节那天是Shari的最大季度,它可能正好位于您指出的该季度约1000万美元的水平。

Linda Bolton Weiser

And then can I ask you just this idea of the 1 fewer – the 6 days fewer shopping days before Christmas. Is there actually some kind of a positive effect just in the sense that people might get caught short, they didn’t get to the store for gifts and they would turn to online gifting and maybe some of your product categories as a last-minute fix because there are fewer days. Is there any kind of a bullish argument to be made for the calendar?

然后,我可以问一下您的想法吗?那就是圣诞节前的购物天数减少1天,即购物天数减少6天。 实际上是否会在某种意义上产生积极的影响,就是人们可能会被短缺,他们没有到商店来买礼物,他们会求助于在线礼物以及您的某些产品类别作为最后的解决方法 因为天少了 日历上有什么看涨的论点吗?

Chris McCann

Chris McCann

Well, we’d love for you to make that argument more often. I’m not sure that we historically could say we see that as we look to bake into – we look historically at our results to bake into our plans. I wouldn’t say we see that. I would agree with the general overall theory there that people will turn to online shopping more. And certainly, our food brands will benefit from that, I think. So I’ll hope along with you.

好吧,我们希望您能经常提出这种说法。 我不确定我们在历史上能否说出要实现的目标–我们从历史上看可以实现我们的计划的结果。 我不会说我们看到了。 我同意那里的一般总体理论,即人们将更多地转向在线购物。 我想,当然,我们的食品品牌将从中受益。 所以我希望与您一起。

Linda Bolton Weiser

Okay. And then can you just – we had heard something a little bit out there about that Nexus actually kind of closed down the drop ship portion of ProFlowers and it’s all being florist fulfilled. Can you confirm that or not? And then what does that mean for you? Does that create some kind of new opportunity maybe for share gain in the drop ship segment of the market? And would you pursue that aggressively? Just maybe comment on that whole situation.

好的。 然后您可以–我们听到了一些关于Nexus实际上关闭了ProFlowers的直接销售部分的信息,而这一切都在花店完成了。 你能确认吗? 那对您意味着什么? 这是否会为直航市场中的份额增加创造某种新机会? 您会积极追求吗? 只是对整个情况发表评论。

Chris McCann

Chris McCann

Sure, Linda. What I would say is that prior to the transaction in the bankruptcy court, the old management of FTD had really shut down the ProFlowers business completely and moved it all into FTD direct florist fulfilled product. Then what we saw coming out of the transaction a little bit was a moderation of that one. And I think, and I may not be completely up to speed here, that right now, if you went to the ProFlowers site, there’s probably a mixture of some direct ship product as well as florist fulfilled product, and that seems to be the direction going forward. But again, what we’ve seen is no real change. So it’s hard to understand. I don’t know if there is a direction going forward yet that we’ve seen in the marketplace, but what we have seen is that the site is representing both direct ship and florist fulfilled items. And as it – it reflects to us, I mean, that’s not going to impact what we do with our plants. I think we have a really good model in place of how we utilize both direct ship and florist fulfilled product, and our primary channel is and always has been to support our BloomNet florist and really use the same-day delivery capabilities that we have in the florist network to get a great quality, great designed product. So again, as we look at BloomNet, BloomNet is, yes, they provide us with great same-day fulfillment capabilities, but they provide us also with great design capabilities in the design councils that different BloomNet members belong to at different times. That’s the real benefit to this category here. It’s not just flowers in a box.

当然可以,琳达。我要说的是,在破产法院进行交易之前,FTD的旧管理层确实完全关闭了ProFlowers业务,并将其全部转移到FTD直接花店履行的产品中。然后,我们从交易中看到的一点是该交易的适度性。而且我认为,我现在可能还没有完全跟上进度,那时候,如果您去了ProFlowers网站,可能是一些直接运输产品和花店配送产品的混合物,这似乎是方向向前走。但是,我们再一次看到的并没有真正的改变。因此很难理解。我不知道我们在市场上是否有前进的方向,但我们看到的是该网站既代表直接运送的商品,也代表卖花的商品。正因为如此-它对我们反映了,我的意思是,这不会影响我们对工厂的处理。我认为我们有一个非常好的模式来代替我们如何利用直接运送和花店充实的产品的方式,我们的主要渠道始终是一直支持我们的BloomNet花店,并确实使用了我们在花店网络获得了优质,优质的产品。再次,当我们查看BloomNet时,BloomNet是的,它们为我们提供了出色的当日履行功能,但在不同的BloomNet成员所属的设计委员会中,它们也为我们提供了出色的设计能力。这是此类别的真正好处。不仅是盒子里的花。

Linda Bolton Weiser

Okay, thank you so much.

好的,非常感谢。

Chris McCann

Chris McCann

Thank you, Linda.

谢谢你,琳达。

会议主持员

Thank you very much. [Operator Instructions] Our next question will come from Alex Furman, Craig-Hallum Capital Group.

非常感谢你。 [操作员说明]我们的下一个问题将来自Craig-Hallum Capital Group的Alex Furman。

Alex Furman

亚历克斯·弗曼

Hi all. Thanks for taking my question. I wanted to ask about the Passport program, now that we’re getting into the holiday season or getting close to it. Can you talk us – to us a little bit about the typical lifestyle of a Passport customer? Curious what times of year, which holidays are really when you get those customers to sign up for Passport? And then similarly, curious when the Passport customers have really been transacting? And specifically, when have you seen those incremental transactions from the Passport customers? Is it more during your slow periods, when you get a nice lift from perhaps some self-consumption from those people or is that you see that perhaps they’re coming back more often or with larger tickets during the key holidays?

大家好。 感谢您提出我的问题。 我想问一下Passport计划,现在我们正要进入假期或接近假期。 您能和我们谈谈Passport客户的典型生活方式吗? 想知道一年中的什么时候,让那些客户注册Passport的确是哪个假期? 然后类似地,对Passport客户何时真正进行交易感到好奇吗? 具体来说,您什么时候看到过来自Passport客户的那些增量交易? 是在您的车迷时期,还是从这些人的一些自我消费中获得很大的提升时,或者您看到他们在关键假期回来的频率更高或门票更大时,是否更多?

Chris McCann

Chris McCann

Great, Alex. Yes, Passport program is working very nicely for us, and we’re glad you can see the continued growth of that program. From your first question about when do we see more sign-ups, naturally it’s around the different holiday spikes that we have because just from the sheer volume of traffic of customers coming to our site and seeing the opportunity to sign up and join the Passport program. As far as when do we see the spend, I would say it’s more of a year-round spend because what Passport does is increase the purchase frequency. And we go from an average, let’s say, maybe of a 2 times a year average customer to 4 or 5 times when they join Passport, they become multi-brand customers. So that was a big feeding into the everyday occasions and not just the key holiday seasons. So it really helps to round things out for us. And the more we grow that program, the more it not only drives that frequency of usage, but clearly with that frequency of usage comes retention, comes increased lifetime value.

太好了,Alex。是的,Passport计划对我们来说非常有效,很高兴您能看到该计划的持续增长。关于您何时会看到更多注册的第一个问题,自然是围绕我们假期的高峰而来的,因为仅仅是从大量访问我们网站的客户那里看到了注册并加入Passport计划的机会。至于我们何时看到支出,我想说这是全年支出,因为Passport所做的是增加购买频率。假设我们的平均客户数量从每年2倍的平均水平提高到加入Passport时的4或5倍,他们成为了多品牌客户。因此,这不仅是关键假期,而且是日常活动中的重要食物。因此,这确实有助于为我们解决问题。而且,我们开发的程序越多,它不仅会驱动该使用频率的增加,而且随着使用频率的增加,保留时间和使用寿命价值也将随之增加。

Alex Furman

亚历克斯·弗曼

Great. That’s really helpful. And then one other thing I wanted to ask about it. I’m not sure how long you’ve necessarily been offering this, but certainly seems that on your website, there’s been a lot more marketing lately about same-day delivery if you order before 2:00 p.m., is that something that you’re going to be able to offer throughout the key dates during the holiday season? And just curious if you can talk about what your expectation is there? Any color you can give us on how much same-day orders have impacted your recent results?

大。 这真的很有帮助。 然后我想问一件事。 我不确定您提供此服务多久了,但是可以肯定的是,如果您在下午2:00之前订购,则在您的网站上,关于当日发货的营销活动最近有很多, 在假期期间可以在整个关键日期提供服务吗? 只是想知道您是否可以谈谈您的期望? 您能为我们提供的任何颜色,对当日订单有多少影响了您最近的结果?

Chris McCann

Chris McCann

Yes, I think it’s just a focus or it’s an extension of our focus on constantly enhancing the customer experience and that whole speed of delivery is a critical factor of that and with floral, our roots being in the floral business, we have really good expertise in same-day delivery, understanding the cost of that capability, moving that into delivery within certain time zones, within a 2-hour time zone and morning delivery and afternoon delivery, etcetera, so constantly pushing the needle with that, both with our florist network and then also working with other delivery services that we’ve worked with over the years like DoorDash and others. So we’re constantly pushing the envelope on that. I wouldn’t say it has factored into really driving our results because we’ve been in the same-day delivery, it’s a continuation of that. I think that would be a longer-term play really as we start to move other products into the next day, same-day delivery capability.

是的,我认为这只是我们专注于不断增强客户体验的重点,还是整体交付速度是其中的关键因素,而随着花卉业务的发展,我们扎根于花卉业务,我们拥有真正的专业知识 在当天交付时,了解该功能的成本,将其转移到某些时区,2小时时区内以及早上交付和下午交付等,因此,不断地向我们的花店推销 网络,然后还与我们多年来合作过的其他交付服务(例如DoorDash等)一起使用。 因此,我们一直在不断努力。 我不会说这是真正推动我们取得成果的因素,因为我们一直在当天交付,这是对它的延续。 我认为这将是一个长期的工作,因为我们开始将其他产品转移到第二天,即日交付能力。

Alex Furman

亚历克斯·弗曼

Okay, that’s really helpful. Thanks very much.

好的,那真的很有帮助。 非常感谢。

Chris McCann

Chris McCann

Thanks Alex.

谢谢亚历克斯。

会议主持员

Thank you. Our next question will come from Anthony Lebiedzinski from Sidoti & Company.

谢谢。 我们的下一个问题将来自Sidoti&Company的Anthony Lebiedzinski。

Anthony Lebiedzinski

Hi, good morning and thank you for taking the questions. So I may have missed this, but what was the impact of the gift basket shipments, that shift that you called out in GFGB between the quarters?

嗨,早上好,感谢您提出问题。 因此,我可能错过了这一点,但是礼品篮出货量的影响是什么,您在两个季度之间在GFGB中所做的转移呢?

Bill Shea

Bill Shea

Yes, it was several million dollars, probably give or take $3 million of pull forward from Q2 into Q1. Just want to give it some context that, the 17.7% growth within GFGB. Even without that, it still would be a low-teen kind of growth rate in the quarter. And our 10.5% growth in the quarter would still have been over 9% growth in the quarter, but about $3 million.

是的,这是几百万美元,可能会给从第二季度到第一季度的300万美元。 只是想给它一个背景,GFGB内增长了17.7%。 即使没有这一点,本季度的增长率仍将是十分低的一种。 而且我们本季度的10.5%增长仍将超过本季度9%的增长,但约为300万美元。

Anthony Lebiedzinski

Got it. Okay. And obviously, you had a very strong first fiscal quarter, a very good start to the year. You mentioned that you haven’t really seen much in terms of changes in competitive landscape in the quarter. I know it’s not a big quarter to begin with. But as you roll into the big second fiscal quarter for you guys, do you anticipate that the competitive landscape to change? And is that a reason why you did not change your guidance for the full year?

得到它了。 好的。 显然,您的第一季度财务业绩非常好,今年开局很好。 您提到在本季度的竞争格局变化方面,您并没有看到太多东西。 我知道这不是一个很大的开始。 但是,当您进入你们的第二大财务季度时,您是否预计竞争格局会发生变化? 这就是为什么您全年没有更改指导的原因吗?

Chris McCann

Chris McCann

No I don’t think that specifically is the reason why we haven’t changed guidance. It’s just we wouldn’t change guidance after Q1 with Q2 seeing such a big quarter for us really. But as we look at the competitive landscape, our expectation is what – a continuation of what we’ve seen in the past. Christmas holiday will be a promotional holiday. It always is, and we’re well positioned to work within that environment and continue to grow at the momentum that we are seeing right now. So nothing different from what we’ve seen in past holidays. And again, keeping in mind, this quarter, this holiday season is really driven by the food brands, which we’re not seeing any change at all really on the competitive front.

不,我不认为这是我们没有更改指南的原因。 只是我们不会在第一季度之后改变指导方针,而第二季度对我们来说确实是一个很大的季度。 但是,当我们审视竞争格局时,我们的期望就是过去所见即所得的延续。 圣诞节假期将是促销假期。 一直如此,我们处于在这种环境中工作的良好位置,并以我们现在所看到的势头继续发展。 因此,与过去的假期没什么不同。 再一次,请记住,本季度,这个假期季节确实是由食品品牌驱动的,我们在竞争方面根本看不到任何变化。

Bill Shea

Bill Shea

Yes. I think just a couple of more comments on the overall guidance. Obviously, we’re very pleased with where we are, what we achieved in the first quarter and the momentum we’re carrying into the second quarter. But as Chris referenced, Q1 is our smallest quarter, and Q2 is by far our largest quarter. I think we’ve said this on a number of occasions that it’s really best to look at the company in 2 halves. Look at the first half of the year because Q1 really is kind of the feeder into Q2. So looking at the first half of the year in total and then looking at the second half of the year which becomes more floral because of the shift in Easter, looking at those on a combined basis. So as a result, we are not adjusting guidance at this point in time. As we did last year, when we get through the first half of the year, we’ll reassess where we are and how our performance was, and we’ll adjust the guidance in our next call based upon the results.

是。 我认为对总体指南还有更多意见。 显然,我们对我们的现状,第一季度所取得的成就以及第二季度所保持的势头感到非常满意。 但是正如克里斯所提到的,第一季度是我们最小的季度,第二季度到目前为止是我们最大的季度。 我想我们已经说过很多次了,最好是将公司分成两半看。 看一下今年上半年,因为第一季度确实是第二季度的馈送者。 因此,总的来看一下今年上半年,然后再看下半年,因为复活节的变化,花期变得更加花香,将它们结合起来看。 因此,我们目前未调整指导。 与去年一样,当我们度过了上半年时,我们将重新评估我们的位置和绩效,并根据结果调整下一个电话指导。

Anthony Lebiedzinski

Got it. Thank you for that clarification. And just wondering if you could provide a comment as far as the overall impact from the flower gatherers like FromYouFlowers, for example, how does that – what are your thoughts on them or just impact on your overall business?

得到它了。 谢谢您的澄清。 并且想知道您是否可以就FromFromFlowers等鲜花收集者的总体影响发表评论,例如,您是如何看待它们的?对您的整体业务有何影响?

Chris McCann

Chris McCann

So as we look at the landscape, in the floral landscape specifically that you talk about and other competitors, other florists like a FromYou or an Avas, they’re good customers of BloomNet. We have very good relationships with those players. We provide them great support. And again, they’re good supporters of BloomNet. So we will thank them for their business. We also compete with them on the consumer side of things. It’s an interesting relationship that we have, but one that works very well. So we’re very happy to work with partners like that in helping to grow our overall business.

因此,当我们查看景观时,尤其是在您所谈论的花卉景观中,以及其他竞争对手,例如FromYou或Avas等其他花店,他们都是BloomNet的良好客户。 我们与那些玩家有很好的关系。 我们为他们提供大力支持。 同样,他们是BloomNet的良好支持者。 因此,我们将感谢他们的业务。 我们还从消费者的角度与他们竞争。 我们之间的关系很有趣,但是关系很好。 因此,我们很高兴与这样的合作伙伴合作,以帮助发展我们的整体业务。

Anthony Lebiedzinski

Got it. And lastly, as far as the tariff impact, is it still about $5 million for fiscal ‘20?

得到它了。 最后,就关税影响而言,“ 20财年”仍约为500万美元吗?

Bill Shea

Bill Shea

Yes, Anthony. I mean I think we kind of threw that number out back on our August call that the impact – the biggest piece of the impact is last year’s tariffs, we were able to mitigate a lot of last year’s tariffs last year by pulling inventory in early. Obviously, as those roll into fiscal ‘20, we have to buy the inventory. Then we have the September tariffs, the October tariffs that have – that in some degree have been deferred. And then we have the December tariffs that, who knows where that’s going to be. I think if you add it all up, the impact on our costs of all that would be $5-plus million. We have done some things this year to help minimize some of the current year tariffs. Again, you saw the higher balance, the higher inventory balance at the end of September this year versus a year ago. Two plays there. One, we did bring in some inventory early to avoid the tariff cycle that were contemplated for September and October. And we are producing more inventory to address the seasonal labor. So bottom line is probably in excess of $5 million overall based upon the tariffs that are currently out there and expected to be implemented in December. We’ve been able to mitigate a lot of that through some price increases on both the wholesale side of our business as well as in the direct-to-consumer side of the business, especially last year’s tariffs.

是的,安东尼。我的意思是说,我认为我们在8月份的电话会议中将这个数字取消了,其影响–影响最大的部分是去年的关税,我们能够通过提早提早存货来减轻去年的许多关税。显然,随着这些产品进入20财年,我们必须购买库存。然后是9月份的关税,10月份的关税在某种程度上已经推迟了。然后我们获得了12月份的关税,谁知道那将会是什么。我认为,如果将所有这些加在一起,对我们所有成本的影响将超过5百万美元。我们今年做了一些事情,以帮助最大程度地减少当年的关税。再次,您看到余额更高,与去年同期相比,今年9月底的库存余额更高。那里有两个戏。第一,我们确实尽早引入了一些库存以避免为9月和10月制定关税周期。而且我们正在生产更多库存来应对季节性劳动力。因此,根据目前征收的关税并预计将在12月实施的关税,总体底线可能超过500万美元。我们已经通过批发业务以及直接面向消费者的价格上涨(尤其是去年的关税)缓解了很多这种情况。

Anthony Lebiedzinski

Got it, alright. Well, thank you so much and best of luck.

知道了,好吧。 好吧,非常感谢,祝你好运。

Bill Shea

Bill Shea

Thank you, Anthony.

谢谢你,安东尼。

会议主持员

Thank you very much. This now concludes our question-and-answer session. I would like to turn the conference back over to Chris McCann for any closing remarks.

非常感谢你。 至此,我们的问答环节结束。 我想将会议转交给克里斯·麦卡恩(Chris McCann)作结束发言。

Chris McCann

Chris McCann

Well, thank you again for joining us. As you can see, we have good momentum coming into the next quarter for us and we are sitting in a good position. We have got a good response, growing customer files, and we thank you for your interest and your attention and for joining us on the call today. Clearly, we would like to wish everyone a happy Halloween and we encourage you to visit our all-star family of brands early and often for the upcoming holiday season. Thank you.

好,再次感谢您加入我们。 如您所见,我们进入下一季度的势头良好,我们处于良好状态。 我们得到了很好的回应,客户档案越来越多,感谢您的关注和关注,并感谢您今天加入我们的电话。 显然,我们希望大家万圣节快乐,我们鼓励您及早在即将来临的假日季节访问我们的全明星品牌家族。 谢谢。

会议主持员

Thank you very much. Ladies and gentlemen, this now concludes today’s conference. You may disconnect your phone lines and have a great rest of the week. Thank you.

非常感谢你。 女士们,先生们,今天会议结束。 您可以断开电话线,并在本周休息。 谢谢。

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