Exhibit 99.1

HARRY & DAVID HOLDINGS, INC. REPORTS FIRST QUARTER FISCAL 2010 RESULTS

MEDFORD, Oregon, November 5, 2009 – Harry & David Holdings, Inc., announced today financial results for the first fiscal quarter ended September 26, 2009.

Net sales for the 13-week period ended September 26, 2009 decreased 12.1% to $46.3 million, compared to $52.6 million for the same period last year. During the first fiscal quarter, we experienced lower sales in all three of our operating segments.

For the first fiscal quarter, consolidated gross profit was flat to last year at $16.2 million. Consolidated gross profit margin was 35.1% in fiscal 2010, a 430 basis point improvement from 30.8% in the same period in fiscal 2009. The 430 basis point improvement was primarily due to lower labor, overhead and freight costs, partially offset by higher markdowns and discounts.

“We continue to operate in a period of economic uncertainty and reduced consumer spending,” said Bill Williams, President and Chief Executive Officer. “We are responding to these challenging conditions by reducing expenses wherever possible.”

For the first quarter of fiscal 2010, SG&A expenses were $33.6 million versus $37.9 million last year. However, due to lower sales, SG&A as a percentage of sales increased to 72.6% from 72.1% versus the first quarter of fiscal 2009.

For the first quarter of fiscal 2010, EBITDA (as defined in the “Non-GAAP Financial Measures” section below) was a loss of $12.7 million, compared to a loss of $13.8 million in the same period of fiscal 2009. The improvement in EBITDA loss was primarily attributable to lower overall operating expenses.

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Operating loss was reduced by $4.3 million or approximately 20% from $21.7 million in the first quarter last year to $17.4 million in the same period this year. The pre-tax loss for the first quarter of fiscal 2010 was $22.0 million, compared to a pre-tax loss from continuing operations of $24.6 million reported in the same period of fiscal 2009. The fiscal 2009 pre-tax loss of $24.6 million included a $2.8 million gain on debt repayment.

The Company’s consolidated net loss for the first quarter of fiscal 2010 was $21.7 million, reflecting an effective tax rate of 1.5%, compared to a net loss, which included discontinued operations, of $15.2 million and an effective tax rate of 37.6% for the quarter ended September 27, 2008.

Inventory was $82.9 million at September 26, 2009, versus $100.7 million last year. The 17.7% decrease in inventory was consistent across raw materials, work in progress and finished goods.

Capital expenditures were $0.5 million for the quarter ended September 26, 2009 versus $1.7 million reported in the same period last year.

Cash balances at September 26, 2009 stood at $2.0 million versus $28.0 million in the same period last year, reflecting a $26 million reduction in revolver borrowings from $73.0 million in the first quarter last year to $47.0 million this year. As of September 26, 2009, the Company is in compliance with all of its debt covenants.

The Company’s full interim results for the first fiscal quarter ended September 26, 2009 are expected to be filed with the SEC in a quarterly report on Form 10-Q on November 5, 2009. The first quarter press release is also available on the Company’s corporate website, www.hndcorp.com.

Non-GAAP Financial Measures

This press release presents EBITDA, which is a non-GAAP financial measure within the meaning of applicable SEC rules and regulations. The Company believes that EBITDA is a useful financial measure for assessing operating performance and liquidity. For an explanation of why management believes EBITDA is a useful measure for understanding the Company’s results of operations, a discussion of the limitations of using such measure and a reconciliation of EBITDA to the most comparable GAAP measure, see the discussion following the attached financial information.

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Forward-Looking Statements

Certain of the statements in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. These statements relate to future events or future financial performance and involve known and unknown risks and other factors that may cause the Company’s actual or our industry’s results, levels of activity or achievement to be materially different from those expressed or implied by any forward-looking statements. These risks and uncertainties include, but are not limited to risks relating to market demand for the Company’s products, production capabilities, relationships with customers, implementation of the Company’s business and marketing strategies, competition, fluctuations in energy and other commodity costs, financial leverage, postal rate increases, increase in labor costs and the availability of a seasonal workforce and changes in federal and state tax laws. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of those terms or other comparable terminology. These statements are present expectations. Actual events or results may differ materially. We undertake no obligation to update or revise any forward-looking statement, except as required by law. All of the forward-looking statements are expressly qualified by the risk factors discussed in the Company’s filings with the SEC.

Conference Call

Harry & David Holdings, Inc. will host a conference call today, November 5, 2009, at 2:30 p.m. Pacific (5:30 p.m. Eastern) with William H. Williams, President and Chief Executive Officer, and Edward F. Dunlap, Chief Financial Officer. To access the conference call, participants in North America should dial 1-877-941-4775 and international participants should dial 1-480-629-9761, conference ID is 4168024. Participants are encouraged to dial in to the conference call five to ten minutes prior to the scheduled start time. A telephonic replay of the call will also be made available approximately two hours after the conference call is completed. The replay will be accessible via telephone through November 19, 2009 by dialing 1-800-406-7325 in North America and by dialing 1-303-590-3030 when calling internationally, with all callers using the replay pass code 4168024.

About Harry & David Holdings, Inc.

Harry & David Holdings, Inc., headquartered in Medford, Oregon, is a leading multi-channel specialty retailer and producer of branded premium gift-quality fruit and gourmet food products and gifts marketed under the Harry & David^®, Wolferman’s^® and Cushman’s^® brands. You can shop our products online at www.harryanddavid.com, www.wolfermans.com, and www.honeybell.com, or visit one of our 136 stores across the country.

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CONTACTS:

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Harry & David Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in Thousands)

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Harry & David Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(in Thousands, Except Share and per Share Data)

(Unaudited)

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Harry & David Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(in Thousands)

(Unaudited)

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Harry & David Holdings, Inc. and Subsidiaries

Reconciliation of EBITDA from Continuing Operations to Net Cash Used in Operating Activities

In the thirteen-week period ended September 26, 2009, net loss and EBITDA from continuing operations included:

In the thirteen-week period ended September 27, 2008, net loss and EBITDA from continuing operations included:

(1) Regulation G, Conditions for Use of Non-GAAP Financial Measures, and other provisions of the Securities Exchange Act of 1934, define and prescribe the conditions of use of certain non-U.S. GAAP financial information. Our measure of EBITDA meets the definition of a non-U.S. GAAP financial measure.

EBITDA is defined as earnings before net interest expense, income taxes, depreciation and amortization and is computed on a consistent method from quarter to quarter and year to year.

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We use EBITDA, in conjunction with U.S. GAAP measures such as cash flows from operating activities, cash flows from investing activities and cash flows from financing activities, to assess our liquidity, financial leverage and ability to service our outstanding debt. For example, certain covenant and compliance ratios under our revolving credit facility and the indenture governing the outstanding notes use EBITDA, as further adjusted for certain items as defined in each agreement. If we are not able to comply with these covenants, we may not be able to borrow additional amounts, incur more debt to finance our ongoing operations and working capital or take other actions. In addition, the lenders could accelerate the outstanding amounts, which could materially and adversely affect our liquidity and financial position.

We use EBITDA, in conjunction with the other U.S. GAAP measures discussed above, to assess our debt to cash flow leverage, to plan and forecast overall expectations and to evaluate actual results against such expectations; to assess our ability to service existing debt and incur new debt; and to measure the rate of capital expenditure and cash outlays from year to year and to assess our ability to fund future capital and non-capital projects. We believe that, like management, debt and equity investors frequently use (and expect to be able to continue to use) EBITDA to compare debt to cash flow leverage among companies.

EBITDA, when used as a liquidity measure, has limitations as an analytical tool. These limitations include:

To compensate for these limitations, we analyze EBITDA in conjunction with other U.S. GAAP financial measures impacting liquidity and cash flow, including depreciation and amortization, capital spending and net income in terms of the impact on depreciation and amortization, changes in net working capital, other non-operating income and losses that affect cash flow and liquidity, interest expense and taxes. Similarly, EBITDA should not be considered in isolation or as a substitute for these U.S. GAAP liquidity measures.

We also use EBITDA, in conjunction with U.S. GAAP measures such as operating income and net income, to assess our operating performance and that of each of our businesses and segments. Specifically, we use EBITDA, alongside the U.S. GAAP measures mentioned above, to measure profitability and profit margins and to make budgeting decisions relating to historical performance and future expectations of our segments and business as a whole, and to make performance comparisons of our company compared to other peer companies. We believe that, like management, debt and equity investors frequently use (and expect to be able to continue to use) EBITDA to assess our operating performance and compare it to that of other peer companies.

Furthermore, we use EBITDA (in conjunction with other U.S. GAAP and non-U.S. GAAP measures such as operating income, capital expenditures, taxes and changes in working capital) to measure return on capital employed. EBITDA allows us to determine the cash return before taxes, capital spending and changes in working capital generated by the total equity employed in our company. We believe return on capital employed is a useful measure because it indicates the total returns generated by our business, which, when viewed together with profit margin information, allows us to better evaluate profitability and profit margin trends.

As a performance measure, we also use return on capital employed to assist us in making budgeting decisions related to how debt and equity capital is being employed and how it will be employed in the future. Historical measures of return on capital employed, which include EBITDA, are used in estimating and predicting future return on capital trends. Combined with other U.S. GAAP financial measures, historical return on capital information helps us make decisions about how to employ capital effectively going forward.

However, because EBITDA does not take into account certain of these non-cash items, which do affect our operations and performance, EBITDA has inherent limitations as an operating measure. These limitations include:

To compensate for these limitations we analyze EBITDA alongside other U.S. GAAP financial measures of operating performance, including, operating income, net income and changes in working capital, in terms of the impact on other non-operating income and losses that affect profitability and return on capital. You should not consider EBITDA in isolation or as a substitute for these U.S. GAAP measures of operating performance.

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