1-800-FLOWERS.COM, Inc.

Good morning, and welcome to the 1-800-Flowers.com 2025 first quarter fiscal year earnings conference call. Today, all participants will be in a listen-only mode. Should you need assistance during today's call, please signal for a conference specialist by pressing the star key, followed by zero. After today's presentation, there will be an opportunity to ask your questions. To ask a question, you may press star then 1 on your touchtone phone. To withdraw your question, please press star, then 2. Please note that today's event is being recorded. I would now like to turn today's event over to Andy Millivoy, Senior Vice President of Investor Relations. Please go ahead.

Andy Millivoy Good morning, and welcome to our fiscal 2025 first quarter earnings call. Joining us today are Jim McCann, Chairman and CEO Tom Hartnett, President, Bill Shea, CFO, and James Langrock, CAO, and incoming CFO upon Bill's retirement in December. 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 today's 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 gap measures can be found in the tables of our earnings release. And now, I'll turn the call over to Jim.

Thanks, Andy, and good morning, everyone. This morning, I'll share my perspective on the current environment and our recent performance, and then I'll turn the call over to Bill and Tom, who will provide the business and financial updates. As we announced this morning, our first quarter performance generally came in line with our expectations. We began to see slight improvement in our e-commerce revenue trends. Our gross profit margin continued to grow. And through our Work Smarter initiatives to operate more efficiently, we reduced our operating expenses. Regarding the complexion of our e-commerce revenue and benefiting from our relationship innovation initiatives, orders declined 6.5% as compared to an 11.5% decrease in the fourth quarter of fiscal 24th. and a 16.1 percent decrease from the prior year period. AOV declined 1.5 percent, reflecting our plan to expand our offerings and broaden our price points. Additionally, several wholesale gift basket orders shifted from Q1 into Q2. This was simply timing, and we will ship and record those orders in Q2. We've always viewed and suggested that you view our fiscal year as consisting of two halves. The first half consists of the inventory build and preparation for the holiday season that occurs during Q1, followed by the sales build leading up to the holiday during the second quarter. The second half of our fiscal year consists of the important holiday occasions including Valentine's Day, which is in Q3, and Mother's Day in Q4. In just a moment, Tom will review our Q1 performance and share our view for the second quarter. As we turn to the holiday quarter, we expect our performance to improve, especially within our gourmet foods and gifts businesses, as consumers often see holiday gifting as more than an essential activity rather than a discretionary one. Through the relationship innovation initiatives that we implemented over the last two years, we have expanded our offerings and broadened our price points, providing gift givers with more choices at prices that span from budget-friendly to premiums. We look forward to helping our customers connect and express their sentiments with the important people in their lives. And now Tom, if you'll go over the business update for us.