Jim McCann
speaker
66 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Jim McCann’s voice in public audio — every appearance, attributed to the second.
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Appearances
Nicole, the last time I saw you was very, very early in the morning.
It was five in the morning. I did your show at CNBC a couple of times, and boy, that's getting up real early in the morning.
But I was amazed at how on the game you were. But, you know, you came in, you understood what was going on in the Asian markets, what was going on in Europe. You tied the whole thing together. A few times I caught myself just going, wow.
Just the truth.
Oh, sure it does. And Nicole, we all like to keep score. No one likes to go out and play tennis and just volley around wondering who won. You keep score. And it's a good discipline being public. And I was just chatting with a friend who was saying the same thing. Wow, the market really reacted positively to your earnings today. How come you're not more excited?
I said, because I've been there when it wasn't reacting so great. It's nice to have your investment community respond positively to how things are going. But you can't get too excited about it because there's another quarter coming.
Because Mother's Day is our biggest floral holiday. Our biggest holiday overall, Nicole, is the Christmas holidays because all of our food gifts are popular there and our popcorn, our cookies, our chocolate, our gift baskets. And of course, all of our Harry and David gifts are extremely popular at Christmas time. So the Christmas season is our biggest overall holiday.
Mother's Day, our biggest floral holiday. Valentine's Day is a strong holiday, but number three.
Oh, by far, biggest roses occasion for sure. And it's quite a task to have the right number and the quality of roses for Valentine's Day. For some reason, St. Valentine decided he wanted to do his thing in the middle of February, which isn't the most optimal time for growing roses around the world. So we work with our growers literally around the world in preparation for this holiday.
It takes 14 weeks. to grow a rose from a cutting to being able to harvest the next crop. So we do a lot of things with our grower community 14 weeks before Valentine's Day and 14 weeks after Valentine's Day to use a larger amount of roses in our products to afford them the opportunity to grow all the roses we'll need on the Valentine holiday. So it's quite an orchestration and we'll sell
probably 15 million roses directly. We probably sold this week 15 million roses directly for Valentine's Day. Close off retail floral partners to sell probably the same amount again. So that's a lot of roses.
Well, unfortunately for us in the flower business of 1-800-Flowers, the cost of roses hasn't gone up probably in 10 years.
Really, inflation has whacked us on the cost side of things, but not on the product itself. So the consumer has been getting a better deal every year for the last 10 or 12 years because there's so much we've done to increase the quality and the quantity available that we haven't had to raise prices.
No excuses.
Definitely buy flowers because if you buy them stock, they're going to throw it at you. What? Come on, there's something called romance out there. I know you're a money gal, but there's something about sentiment and romance and old fashionedness and stop with the stock certificates.
Absolutely. Invest in the relationship.
Our stock will do fine if you just buy your flowers.
Well, I'll give you my best estimations. I think that the flower business is probably overall a $14 billion category all in. And the gift part of the flower business is probably a $8 or $10 billion business. And we're about 20% of that.
Sure. It's a complicated model in the sense that we deliver product every way you can imagine. And being a same-day deliverer of product, it makes it a little bit more complicated on the last mile. But frankly, it's been our competitive advantage through all the different iterations we've experienced in the 24 years that we've been public and the 40-plus years that we've been around.
So, yes, it's complicated, but that's to our advantage in the long run. So, we, we have a network of the very best florist, let's say, just in this in this country we have 6000 of the best florist in this country who work with us every day, filling our orders, and we work with them in terms of forecasting exactly what we project.
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