1 800 Flowers Com. Financial Statements EJ 1

1 800 FLOWERS COM INC
BALANCE_SHEET
Form Type: 10-K
Period End: Jun 27, 2021
Date Filed: Sep 10, 2021
Table Of Contents
1-800-FLOWERS.COM, Inc. and Subsidiaries
Consolidated Balance Sheets
(in thousands, except share data)
June 27, 2021 June 28, 2020

Assets
Current assets:
Cash and cash equivalents $ 173,573 $ 240,506
Trade receivables, net 20,831 15,178
Inventories 153,863 97,760
Prepaid and other 51,792 25,186
Total current assets 400,059 378,630
Property, plant and equipment, net 215,287 169,075

Operating lease right-of-use assets 86,230 66,760
Goodwill 208,150 74,711
Other intangibles, net 139,048 66,273
Other assets 27,905 18,986
Total assets $ 1,076,679 $ 774,435
Liabilities and Stockholders' Equity

Current liabilities:
Accounts payable $ 57,434 $ 25,306
Accrued expenses 178,512 141,741
Current maturities of long-term debt 20,000 5,000
Current portion of long-term operating lease liabilities 9,992 8,285
Total current liabilities 265,938 180,332
Long-term debt 161,512 87,559

Long-term operating lease liabilities 79,375 61,964
Deferred tax liabilities 34,162 28,632
Other liabilities 26,622 16,174
Total liabilities 567,609 374,661
Commitments and contingencies ( Note 17 )

Stockholders' equity:
Preferred stock, $.01 par value, 10,000,000 shares
authorized, none issued - -
Class A common stock, $.01 par value, 200,000,000 shares
authorized, 55,675,661 and 53,704,477 shares issued in
2021 and 2020, respectively 557 537
Class B common stock, $.01 par value, 200,000,000 shares
authorized, 33,433,614 and 33,822,823 shares issued in
2021 and 2020, respectively 334 338
Additional paid-in capital 371,103 358,031
Retained earnings 286,175 167,523
Accumulated other comprehensive loss (318) (243)
Treasury stock, at cost, 18,825,841 and 17,963,551 Class
A shares in 2021 and 2020, respectively, and 5,280,000
Class B shares in 2021 and 2020 (148,781) (126,412)
Total stockholders' equity 509,070 399,774
Total liabilities and stockholders' equity $ 1,076,679 $ 774,435
INCOME_STATEMENT
Form Type: 10-K
Table Of Contents
1-800-FLOWERS.COM, Inc. and Subsidiaries
Consolidated Statements of Income and Comprehensive Income
(in thousands, except per share data)
Years ended
June 27, 2021 June 28, 2020 June 30, 2019
Net revenues $ 2,122,245 $ 1,489,637 $ 1,248,623

Cost of revenues 1,225,816 867,441 722,502
Gross profit 896,429 622,196 526,121
Operating expenses:
Marketing and sales 533,268 363,227 319,636
Technology and development 54,428 48,698 43,758
General and administrative 117,136 97,394 87,654
Depreciation and amortization 42,510 32,513 29,965
Total operating expenses 747,342 541,832 481,013
Operating income 149,087 80,364 45,108
Interest expense, net 5,860 2,438 2,769
Other income (expense), net 5,888 (84) 644
Income before income taxes 149,115 77,842 42,983
Income tax expense 30,463 18,844 8,217
Net Income 118,652 58,998 34,766
Other comprehensive income (loss) (currency
translation) (75) 26 (69)
Comprehensive income $ 118,577 $ 59,024 $ 34,697
Basic net income per common share $ 1.83 $ 0.92 $ 0.54
Diluted net income per common share $ 1.78 $ 0.89 $ 0.52
Weighted average shares used in the

calculation of net income per common share:
Basic 64,739 64,463 64,342
Diluted 66,546 66,408 66,457
TABLE28
Form Type: 10-K
Table Of Contents
Note 6. Goodwill and Intangible Assets
The following table presents goodwill by segment and the related change in the
net carrying amount:
Gourmet
Consumer Foods &
Floral & Gift
Gifts BloomNet Baskets Total
(in thousands)
Balance at June 30, 2019 $ 17,441 $ - $ 45,149 $ 62,590

Acquisition of Shari's Berries - $ - 12,121 12,121
Balance at June 28, 2020 $ 17,441 $ - $ 57,270 $ 74,711
Acquisition of PersonalizationMall 133,439 $ - - 133,439
Balance at June 27, 2021 $ 150,880 $ - $ 57,270 $ 208,150
Gross
Amortization Carrying
Period Amount
(in years)
Intangible assets with
determinable lives
Investment in licenses 14 - 16 $ 7,420

Customer lists 3 - 10 23,825
Other 5 - 14 2,946
Total intangible assets
with determinable lives 34,191
Trademarks with indefinite

lives 127,396
Total identifiable
intangible assets $ 161,587
June 27, 2021 June 28, 2020
Gross
Accumulated Carrying Accumulated
Amortization Net Amount Amortization Net
(in thousands)
$ 6,359 $ 1,061 $ 7,420 $ 6,253 $ 1,167

13,697 10,128 12,825 10,474 2,351
2,483 463 2,946 2,382 564
22,539 11,652 23,191 19,109 4,082
- 127,396 62,191 - 62,191

$ 22,539 $ 139,048 $ 85,382 $ 19,109 $ 66,273
TABLE30
Form Type: 10-K
Table Of Contents
Note 7. Property, Plant and Equipment
June 27, 2021 June 28, 2020

(in thousands)
Land $ 30,284 $ 30,789

Orchards in production and land improvements 18,829 17,139
Building and building improvements 62,232 61,159
Leasehold improvements 26,451 13,675
Production equipment 82,526 57,904
Furniture and fixtures 8,860 7,444
Computer and telecommunication equipment 55,841 55,381
Software 177,844 151,264
Capital projects in progress - orchards 18,090 8,130
Property, plant and equipment, gross 480,957 402,885
Accumulated depreciation and amortization (265,670) (233,810)
Property, plant and equipment, net $ 215,287 $ 169,075
TABLE17
Form Type: 10-K
Table Of Contents
Depreciation and Amortization
Years Ended
June 27, June 28, June 30,
2021 % Change 2020 % Change 2019
(dollars in thousands)
Depreciation $ 42,510 30.70% $ 32,513 8.50% $ 29,965

Percentage of 2.00% 2.20% 2.40%
1-800 FLOWERS.COM INC
BALANCE SHEET (USD ´000)
ASSETS 2020 2021
A) Non-current assets
PP&E-gross 469,645 567,187

Accumulated
Accumulateddepreciation
Depreciation (233,810) (265,670)
Intangible assets-gross 85,382 161,587
Accumulated amortization (19,109) (22,539)
Goodwill, net 74,711 208,150
Other non-current assets 18,986 27,905
Total non-current assets 395,805 676,620
B) Current assets

Accounts receivable 15,178 20,831
Other current assets 25,186 51,792
Cash and short term investments 240,506 173,573
TOTAL ASSETS 774,435 1,076,679

OWERS.COM INC
CE SHEET (USD ´000)
EQUITY AND LIABILITIES 2020 2021
A) Equity
Capital
Capital 875 891
Share
Legal
premium
and statutory reserves 358,031 371,103
Treasury
Otherstock
reserves (126,412) (148,781)
Total Equity 399,774 509,070
B) Non-current liabilities

Capitalized lease obligations 61,964 79,375
Other non-current liabilities 44,806 60,784
Total non-current liabilities 194,329 301,671
C) Current liabilities
Current payables 13,285 29,992

Accounts payable 25,306 57,434
Accrued liabilities 141,741 178,512
TOTAL EQUITY & LIABILITIES 774,435 1,076,679

OPERATING AND FINANCING STRUCTURE
Long-term funds 594,103
(-) Operating non-current assets (376,819)
(-) Non-current investments (18,986)
(=) Working capital 198,298
Operating structure Financial structure
Operating non-current
376,819 648,715 Long-term funds 376,819
assets
Working capital 198,298

NOF (28,923) (9,460)
Cash/Net debt (227,221)
TOTAL 347,896 639,255 347,896
Non-current investments 18,986 27,905 Long-term funds 18,986

CTURE
810,741
(648,715)
(27,905)
134,121
ructure
648,715
134,121
(143,581)
639,255
27,905
PROFIT AND LOSS STATEMENT (USD ´000)
2020 2021
Revenues 1,489,637 2,122,245

COGS (867,441) (1,225,816)
Total Gross profit 622,196 896,429
Sales, general and administrative expenses (509,319) (704,832)
Depreciation and amortization (32,513) (42,510)
Total operating profit (EBIT) (i) 80,364 149,087
Other non-operating income (ii) (84) 5,888
Interest income - -
Interest expense (2,438) (5,860)
Other comprehensive income (loss) 26 (75)
Total financial result (iii) (2,412) (5,935)
Total EBT ((i)+(ii)+(iii)) 77,868 149,040
Income tax (18,844) (30,463)
PROFIT / (LOSS) FOR THE PERIOD 59,024 118,577

1-800 FLOWERS.COM
ASSETS 2020 2021
PP&E-gross 469,645 567,187

Accumulated
Depreciation (233,810) (265,670)
Goodwill, net 74,711 208,150
B) Current assets

TOTAL ASSETS 774,435 1,076,679
CASH FLOW STATEMENT
What do we explain through the statement of cash flows?
Change in cash and other liquid assets
1. CASH FLOWS FROM OPERATING ACTIVITIES
Net income
+/- D&A
+/- Variation of need of funds
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES…………………………
NOF1 Operating current assets year 1 - Operating
∆NOF -9.460-(-28.923) =
2. CASH FLOWS FROM INVESTING ACTIVITIES
Both the operational investments of the company and those of a financial nature. If the variation of th
(Payments on investments)/Proceeds from disposals in pla

(Payments on investments)/Proceeds from disposals in inta
∑Payments of investments in PP&E and inta
(Payments on financial investments)/Proceeds on financial
TOTAL CASH FLOWS FROM INVESTING ACTIVITIES……………………………
3. CASH FLOWS FROM FINANCING ACTIVITIES
How has the financing of the firm with external resources varied? That is, through new shareholders
If the variation of the BS is positive, cash comes in (and vice versa)
1. Equity + ∆Capital
+ ∆Share premium
- Repayment of equity
- Payment of dividends
2. Debt
∆Long-term debt
∆Short-term debt
TOTAL FLUJO DE EFECTIVO DE LAS ACTIVIDADES DE FINANCIACIÓN

(*) El deterioro implica una correció n en el valor del inovilizado material. Realmente las adquisicion
NET INCREASE / (DECREASE) IN CASH

0 FLOWERS.COM INC. STATEMENT OF CASH FLOWS
A) Equity
Capital
Capital 875 891
Share
Legal
premium
Treasury
Otherstock
reserves (126,412) (148,781)
Total Equity 399,774 509,070


LOW STATEMENT
2021 173,573
2020 240,506
∆ -66,933
118,577
35,290
(19,463)
ING ACTIVITIES…………………………………..…………………………………………………………… 134,404
g current assets year 1 - Operating current liabilities year 1

-28,923

-9,460
19,463 A increase in the NOF is equivalent to an increase in the left

side of the balance sheet, the firm invests; cash decreases.
nancial nature. If the variation of the BS is positive, cash comes out (and vice versa)
s)/Proceeds from disposals in plant, property, and equipment (97,542)

s)/Proceeds from disposals in intangible assets (209,644)
nts of investments in PP&E and intangible assets (307,186) (i)
vestments)/Proceeds on financial investments (8,919) (ii)
NG ACTIVITIES………………………………………………………………………………………… (316,105)
That is, through new shareholders and debt.
∆Capital 16
∆Share premium 13,072
Repayment of equity (22,369)
Payment of dividends -
∆Long-term debt 107,342

∆Short-term debt 16,707
ACTIVIDADES DE FINANCIACIÓN……………………………………………………………….. 114,768

material. Realmente las adquisiciones del añ o han sido 6
REASE) IN CASH -66,933

OWS
2020 2021
Revenues 1,489,637 2,122,245

COGS (867,441) (1,225,816)
Sales, general and administrative expens (509,319) (704,832)
Interest income - -
Total EBT ((i)+(ii)+(iii)) 77,868 149,040
Income tax (18,844) (30,463)

Both investments in
PP&E and intangibles
are considered Capex
CAPEX 307,186
Maintenance 35,290
Growth 271,896
Retained earnings year 2 - Retained earnings year 1 118,577

Profit and loss for the period 118,577
Dividends -
1-800 FLO
ASSETS 2020 2021
PP&E-gross 469,645 567,187

Accumulated
Depreciation (233,810) (265,670)
Goodwill, net 74,711 208,150
B) Current assets

TOTAL ASSETS 774,435 1,076,679
RATIOS
0. CASH FLOWS FROM OPERATING ACTIVITIES
Net income
+/- D&A
+/- Variation of need of funds
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES…………………………

∆NOF -9.460-(-28.923) =
1.a. PROFITABILITY ANALYSIS: MARGIN RATIOS
Gross Margin=Gross Profit / Net Sales

=
EBITDA Margin = EBITDA / Net Sales

=
Operating (EBIT) Margin = EBIT / Net Sales

=
Net Profit Margin = Net Income / Net Sales

=
Cash flow Margin = Operating cash flow / Net Sales

=
1.b. PROFITABILITY ANALYSIS: RETURN RATIOS
Return on Equity = Net Income / Equity

=
Return on Capital Employed = EBIT x(1-tax rate) / Capital Employed

=
Return on Assets = Net Income /Total Assets

=
2. EFFICIENCY ANALYSIS: RATIOS
AR turnover = Net Sales / Average AR

=
Inventory turnover = COGS / Average inventories

=
Fixed Assets turnover = Net Sales / Average PP&E

=
3. CASH CONVERSION CYCLE
DSO = 365 / AR turnover

=
DIO = 365 / Inventory turnover COGS
=
AP turnover = (COGS + SG&A Expenses) / Average AP

=
DPO= 365 / AP turnover

=
CASH CONVERSION CYCLE = DSO +DIO - DPO

=
4. LIQUIDITY ANALYSIS: RATIOS
Current Ratio = Current Assets / Current Liabilities

=
Quick Ratio = CA - Inventories - Prepaid Expenses / CL

=
5. SOLVENCY ANALYSIS: RATIOS
Debt to Equity = Total Liabilities / Total Equity

=
Equity Ratio = Total Equity / Total Assets

=
Debt Ratio = Total Liabilities / Total Assets

=
Debt service coverage Ratio = EBITDA / (Interests+Current Payables)

=
6. DUPONT ANALYSIS
EBIT / Net Sales (Operating Margin)

=
Net Sales / Assets (Asset Turnover)

=
Assets / Equity (Leverage)

=
EBT / EBIT (Financials factor)

=
Net Income / EBT (Tax factor)

=
1-800 FLOWERS.COM INC. RATIOS
A) Equity
Capital
Capital 875 891
Share
Legal
premium
Treasury
Otherstock
reserves (126,412) (148,781)
Total Equity 399,774 509,070


RATIOS
118,577
35,290
(19,463)
ING ACTIVITIES…………………………………..…………………………………………………………… 134,404

-28,923
-9,460
19,463
2021 2021 2020
896,429
= 42.24% 41.77%
2,122,245
191,597
= 9.03% 7.58%
2,122,245
149,087
= 7.02% 5.39%
2,122,245
118,577
= 5.59% 3.96%
2,122,245
134,404
= 6.33%
2,122,245
118,577
= 23.29% 14.76%
509,070
111,815
= 13.79% 18.82%
810,741
118,577
= 11.01% 7.62%
1,076,679
2,122,245
= 117.87x 82.74x
18,005
1,225,816
= 9.74x 6.89x
125,812
2,122,245
= 7.90x 5.54x
268,676
365
= 3.10 4.41
117.87x
365
= 37.46 52.94
9.74x
1,930,648
= 46.67x
41,370
365
= 7.82
46.67x
400,059
= 1.50x 2.10x
265,938
246,196
= 0.93x 1.56x
265,938
567,609
= 1.11x 0.94x
509,070
509,070
= 47.28% 51.62%
1,076,679
374,661
= 52.72% 48.38%
1,076,679
191,597
= 5.34x 7.18x
35,852
ROE =
ROE =
2020 2021
Revenues 1,489,637 2,122,245

COGS (867,441) (1,225,816)
Sales, general and administrative expens (509,319) (704,832)
Interest income - -
Total EBT ((i)+(ii)+(iii)) 77,868 149,040
Income tax (18,844) (30,463)

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1 800 FLOWERS COM INC

1-800-FLOWERS.COM, Inc. and Subsidiaries

Consolidated Balance Sheets

(in thousands, except share data)

June 27, 2021 June 28, 2020

Property, plant and equipment, net 215,287 169,075

Liabilities and Stockholders' Equity

Long-term debt 161,512 87,559

Commitments and contingencies ( Note 17 )

1-800-FLOWERS.COM, Inc. and Subsidiaries

Consolidated Statements of Income and Comprehensive Income

(in thousands, except per share data)

Net revenues $ 2,122,245 $ 1,489,637 $ 1,248,623

Basic net income per common share $ 1.83 $ 0.92 $ 0.54

Diluted net income per common share $ 1.78 $ 0.89 $ 0.52

Weighted average shares used in the

Note 6. Goodwill and Intangible Assets

Balance at June 30, 2019 $ 17,441 $ - $ 45,149 $ 62,590

Investment in licenses 14 - 16 $ 7,420

Trademarks with indefinite

$ 6,359 $ 1,061 $ 7,420 $ 6,253 $ 1,167

22,539 11,652 23,191 19,109 4,082

- 127,396 62,191 - 62,191

Note 7. Property, Plant and Equipment

June 27, 2021 June 28, 2020

Land $ 30,284 $ 30,789

Depreciation and Amortization

Depreciation $ 42,510 30.70% $ 32,513 8.50% $ 29,965

PP&E-gross 469,645 567,187

Total non-current assets 395,805 676,620

Inventories 97,760 153,863

Total current assets 378,630 400,059

TOTAL ASSETS 774,435 1,076,679

Total Equity 399,774 509,070

Long-term debt 87,559 161,512

Current payables 13,285 29,992

Total current liabilities 180,332 265,938

TOTAL EQUITY & LIABILITIES 774,435 1,076,679

Operating structure Financial structure

Working capital 198,298

Cash/Net debt (227,221)

TOTAL 347,896 639,255 347,896

Non-current investments 18,986 27,905 Long-term funds 18,986

Revenues 1,489,637 2,122,245

Total Gross profit 622,196 896,429

Sales, general and administrative expenses (509,319) (704,832)

Depreciation and amortization (32,513) (42,510)

Total operating profit (EBIT) (i) 80,364 149,087

Other non-operating income (ii) (84) 5,888

Total financial result (iii) (2,412) (5,935)

Total EBT ((i)+(ii)+(iii)) 77,868 149,040

Income tax (18,844) (30,463)

PROFIT / (LOSS) FOR THE PERIOD 59,024 118,577

PP&E-gross 469,645 567,187

Total non-current assets 395,805 676,620

Inventories 97,760 153,863

Total current assets 378,630 400,059

TOTAL ASSETS 774,435 1,076,679

CASH FLOW STATEMENT

What do we explain through the statement of cash flows?