1-800-FLOWERS.COM, Inc.

Good morning, and welcome to the 1-800-Flowers.com Incorporated fourth quarter 2021 conference call. All participants will be in listen-only mode. Should 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'd now like to turn the conference over to Joe Petito, Senior Vice President of Investor Relations. Please go ahead.

Thank you, Jason. Good morning, and thank you for joining us today to discuss 1-800-Flowers.com Inc.' 's financial results for our fiscal 2021 fourth quarter and full year. For those of you who have not yet 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 1-800-Flowers-Inc.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 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 this may be otherwise stated by the company. I'll now turn the call over to Chris McCann.

Thanks, Joe, and thank you all for joining us this morning. We are very pleased to report a strong finish to what was truly an incredible year for our company. Most important, we are very proud of the achievements of all of our associates. They worked diligently throughout the year to overcome the unprecedented challenges of the global pandemic, to help millions of our customers stay connected with and express themselves to the important people in their lives. For our fourth quarter, we achieved continued strong double-digit revenue growth. And keep in mind, this is on top of the more than 60% revenue growth that we achieved in last year's fourth quarter, When the pandemic first took hold in our country, consumers began to work from home to shelter in place and shifted much of their shopping online. As we noted back in our April call, our fourth quarter, along with the current fiscal first quarter, represents our most challenging year-over-year comparisons. Despite the challenging comps, both our top and bottom line results for the fourth quarter exceeded the high end of the guidance that we provided back in April. This reflects our focus on providing our customers with an expanded range of solutions, combined with our ability to leverage our unique e-commerce platform, which includes our all-star family of brands, our advanced technology stack, our manufacturing distribution and logistics capabilities, our digital marketing expertise, and our growing customer file. These factors helped us drive revenue growth of 42.5% for the full fiscal year and achieved a significant milestone for our company by surpassing $2 billion in total revenue. We have basically doubled the size of our business in the past three years. In fact, over the past several years, we have significantly transformed our company, growing from a collection of specialty brands into a unique e-commerce platform that inspires and enables our customers to express, connect, and to celebrate. As such, we are well positioned to continue to deliver strong growth going forward. We see significantly increased recognition and relevancy for our brands and products for everyday occasions, including birthday, sympathy, get well, new baby, anniversary, and just because. We further expanded our already broad product offerings to provide more solutions to our customers through the acquisitions of two strategic and highly accretive businesses, Shari's Berries, and Personalization Mall. We grew our customer file significantly in fiscal 21, and we saw a continuation of the positive customer trends and customer behavior metrics in terms of frequency and retention that we've discussed in our past calls. Our customer file is one of the most important assets and a driver of the strong growth that we see going forward. So to help illustrate the strength of this list, I'd like to share some key metrics with you. In fiscal 21, we added more than 6.5 million new customers. One of the strongest areas of new customer growth for us was with millennials, which increased at a double-digit pace and now represents 24% of our total customer file. Existing customers also grew at a strong credit base, resulting in more than 13 million total active customers for the year. Importantly, Even within strong new customer growth, existing customers represented approximately 64% of total revenue. As we've noted in the past, our best performing customer cohorts are customers who purchase from more than one product category or brand, and customers who belong to our Celebrations Passport Loyalty Program. In both cases, we saw solid growth in fiscal 21. Customers who bought from more than one product category or brand, excluding PMAL, made up more than 13% of our total active customers and represented approximately 29% of total revenue for the year, up significantly from the prior year period. Further illustrating the importance of this cohort, the average spend of these customers in fiscal 21 was $330, more than double the spend of an average customer. excluding PMAL. In terms of our Celebrations Passport Loyalty Program, as we noted in April, membership had surpassed the 1 million mark back in early spring. For the year, membership grew 112% to 1.3 million members. Passport member revenue per customer was also up for the year at $284, nearly double that of the average customers. These metrics really illustrate the tremendous value of our customer file, a key asset and growth driver for our overall business and one that we will continue to develop going forward. In terms of product development, we saw we significantly expanded our product offerings with the acquisition of personalization mall, adding thousands of personalized gift items from wine glasses to picture frames, a dozen personalization technology options, laser engraving and to custom embroidery, and a highly automated operating model that provides industry-leading order-to-ship delivery times. This acquisition significantly extended our capabilities of our operating platform and clearly positions us as a leader in personalized gifting. Now, we've only begun to scratch the surface in terms of what we can do with Personalization Mall's unique capabilities and their product offerings. So, for example, This fall, you will see us roll out personalized products across our brand sites, showcasing our new capabilities to millions of our customers. And we're equally excited by the tremendous opportunities we see in corporate gifting, where personalized products can help our corporate customers stay connected with both their clients and their employees. Throughout fiscal 21, we also focused our product development efforts on creating more cross-brand products and cross-category bundled gifts, leveraging our platform to create truly original and compelling gift combinations. I'll give you an example of this. For Mother's Day, we bundled Shari's Berries, Roses from 1 in 100 Flowers, and award-winning wines from Harry and David, creating a hit product that we have now expanded into a growing collection that we call our Deliciously Decadent series. We've also created shop-in-shop experiences to take advantage of brand affinities, such as the 1-800-Flowers shop on the Harry and David site and the Moose Munch shop on the Popcorn Factory site, introducing customers to our expanded product offerings with authentic and organic experiences. And for everyday gifting occasions, we expanded our birthday and sympathy collections that now feature more multiple brand combinations. Before I turn the call to Bill for his review of our financial results, I'd like to cover our expanded initiatives to engage with our customers and build a community that goes beyond transactions. Deepening the relationships we have with our customers through a combination of highly relevant content, interactive experiences, and platforms that promote a two-way dialogue will further enhance our position as our customers' go-to resource for all of their expressive and connective needs. One way that we measure the success of our initiatives in this area is through specific touch points that we have with consumers across a broad range of communication and social channels. In fiscal 21, we created nearly 80 million consumer engagements, 80 million consumer engagements. Many of these engagements happened around key holiday periods, such as Mother's Day and Father's Day. where we built programs called MVP Moms and MVP Dads, featuring popular chefs like Antonio Lofaso and well-known athletes like Allie Krieger and Ray Allen. We created video profiles showing their roles at the heart of their families, and these videos reached more than 10 million consumers. Throughout the year, we also worked to create a growing range of online events through social channels like Facebook and Instagram. For example, our Breakfast at Wolferman's series was a great success, watched by nearly 2 million consumers, and effectively introducing a new, younger demographic to our Wolferman's bakery brand with a mix of lifestyle tips, personal experiences, and live recipe demonstrations. We've also continued to innovate our digital experiences, evolving our design and creative to better mix content with commerce as we evolve both desktop and mobile channels. There's many more interactive engagements, and these have all helped us to introduce millions of people to our broad range of solutions for their connective and expressive needs. We plan to continue to broaden these efforts and extend our engagement reach going forward. Now I'd like to turn the call to Bill to review the financial metrics. Bill?