1-800-FLOWERS.COM, Inc.

Good day and welcome to the 1-800-FLOWERS.COM, Inc., Q3 2020 results conference call. All participants will be in listen-only mode. If you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to Joseph Petito, and the Senior Vice President of Investor Relations. Please go ahead.

Good morning and thank you for joining us today to discuss 100Flowers.com, Inc.'s financial results for our fiscal 2020 third 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 100FlowersInc.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'll now turn the call over to Chris McCann.

Good morning, everyone. Thank you all for joining us this morning. I'd like to begin certainly by acknowledging the unprecedented and extremely challenging period that we're all living in as a result of this COVID-19 crisis. I'm sure that many of us on today's call know someone or even have family or friends who have suffered during this pandemic, and our hearts go out to them, especially to those who have lost loved ones. I'd also like to recognize all those people working on the front lines of this crisis. They are truly, truly our heroes. As you'll hear in our remarks today, we had a strong third quarter. Even with the challenges we faced as the COVID crisis set in and impacted the last few weeks of the period, I'm proud of the way our team moves quickly to respond to these challenges, from moving rapidly and enhancing the health and safety of our associates, to managing our supply chain. As we enter the fiscal fourth quarter, what we have seen emerge is a very strong e-commerce demand, especially in our gourmet food brands. This demand acceleration has continued through the month of April, and you'll hear more about this later in the call this morning. In terms of the fiscal third quarter, Our solid results for the period reflect a continuation of the momentum that we've seen throughout the year. The double-digit consolidated revenue growth we achieved was driven by increases across all three of our business segments. In our gourmet foods and gift basket segment, the strong 27% growth reflected continuing positive trends in everyday gifting occasions and increased self-consumption, as well as contributions from Shari's Berries, which continues to perform ahead of expectations. Importantly, we saw customer demand grow throughout the quarter and accelerate into our current fiscal fourth quarter in Harry and David, Cheryl's Cookies, the Popcorn Factory, 1-800-BASKETS, Walkerman's Bakery, Stockyards, and Simply Chocolate, as customers have increasingly turned to our extensive and highly relevant product offerings to help them stay connected and express their feelings during this difficult time. In our consumer floral segment, The 1-800-Flowers brand continued to extend its market leadership with double-digit growth during the key Valentine's Day period. Revenue growth and contribution margin for the quarter in this segment would have been even stronger were it not for the softer consumer demand in the last few weeks of March when we saw the impact of the COVID-19 crisis. This first took the form in limitations on gatherings for sympathy occasions, such as wakes and funerals, and restrictions on deliveries to hospitals for get-well occasions. Importantly, as we enter the current fiscal fourth quarter, we've seen this pattern reverse itself as customers are adapting to the new environment and are sending gifts for these occasions and many more to their recipients' homes. As a result, we are seeing customers increasingly turn to the trusted 1-800-FLOWERS brand to help them express themselves and stay connected for holiday occasions such as Passover and Easter as well as for everyday occasions. We're seeing similar patterns in our bloom net business, where we continue to grow our market share position during Q3 with solid top and bottom line results for the quarter that would have been even stronger were it not for the impact of the COVID-19 crisis. Here, we are keenly focused on working closely with bloom net independent local florists across the country to support their businesses and help them weather the current challenging environment. Before I ask Bill to share some insights on our quarterly results and our reaffirmed guidance for the year, I think it's important to note that as we navigate these trying and uncertain times, the health and safety of our thousands of associates across the company, our bloom nest florists across the country, our suppliers and vendors, and our customers is paramount to us. We have made and continue to make necessary changes across our operations and facilities, including manufacturing, Warehousing and Distribution to provide for the safety and well-being of our associates while maintaining our business continuity. We're well positioned to respond to the consumer demand for our products, as evidenced by the growth we saw in our gourmet food and gift basket segment during the third quarter. We will continue to be agile and maintain our ability to leverage our labor and manufacturing capacity while simultaneously managing our supply chain. Overall, we are well positioned to meet the challenges of this environment by leveraging our operating platform that we've built over the years combined with our diverse product line and deepening relationships with our customers. We remain committed to our mission to engage with our customers to help them express and connect sentiments that are more important than ever in the current environment. Now let me turn the call over to Bill to share his insights on our results and discuss the drivers behind our outlook for continued growth. Bill?