Exhibit 99.1

1-800-FLOWERS.COM, Inc. Reports Continued Positive Trends in Revenues, EBITDA and EPS From Continuing Operations for its Fiscal 2012 Fourth Quarter and Full Year

• Revenues grew 7.6 percent to $716.3 million in fiscal 2012 and 4.0 percent to $179.6 million in the fiscal fourth quarter on a comparable, non-GAAP basis (excluding the 53^rd week in fiscal 2011 compared with 52 weeks in fiscal 2012 and excluding the 14^th week in the fourth quarter of 2011 compared with 13 weeks in the fourth quarter of fiscal 2012 and the shift of the Easter holiday in the fourth quarter.) On a reported basis, fiscal 2012 revenues grew 6.6 percent and fourth quarter revenues declined 1.4 percent compared with the respective prior year periods.

• EBITDA* for the year, excluding stock-based compensation expense of $4.9 million, increased $10.3 million, or 27.6 percent, to $47.6 million, compared with $37.3 million in the prior year. EBITDA for the fourth quarter, excluding stock-based compensation expense of $1.1 million, increased $2.3 million, or 38.0 percent, to $8.4 million, compared with $6.1 million in the prior year period. Free Cash Flow* increased 65.3 percent, or $9.0 million, to $22.9 million compared with the prior year.
• EPS* for the year increased 137.5 percent to $0.19 per share, compared with $0.08 per share in the prior year. EPS for the quarter increased to $0.02 per share compared with a loss of $0.01 per share in the prior year period.

(*EBITDA, Free Cash Flow and EPS for fiscal 2012 include a pre-tax gain of $3.8 million from the sale of 17 Fannie May Fine Chocolate company-owned stores to a new franchisee.)

CARLE PLACE, N.Y.--(BUSINESS WIRE)--August 23, 2012--1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), the world’s leading florist and gift shop, today reported results for its fiscal 2012 fourth quarter and full year. Total revenue from continuing operations for the year increased 7.6 percent to $716.3 million in fiscal 2012 and 4.0 percent to $179.6 million in the fiscal fourth quarter ended July 1, 2012 on a comparable, non-GAAP basis reflecting results for fiscal 2012 full year which include 52 weeks compared with 53 weeks in fiscal 2011 and fiscal 2012 fourth quarter results which include 13 weeks compared with 14 weeks and the shift of the Easter holiday. On a reported basis, fiscal 2012 revenues grew 6.6 percent and fourth quarter revenues declined 1.4 percent.

Gross profit margin from continuing operations for the year was 41.0 percent, down 20 basis points compared with 41.2 percent in the prior year. For the fourth quarter, gross margin increased 100 basis points to 41.2 percent, compared with 40.2 percent in the prior year period. Operating expenses increased $11.2 million during the year, while operating expense ratio improved 90 basis points to 38.3 percent of total net sales, compared with 39.2 percent in the prior year. For the quarter, operating expenses decreased $1.6 million to $71.6 million, compared with $73.3 million in the prior year period, while operating expense ratio improved by 30 basis points to 39.9 percent, compared with 40.2 percent in the prior year period.

EBITDA* for the year (excluding stock-based compensation expense of $4.9 million) increased $10.3 million, or 27.6 percent, to $47.6 million, compared with $37.3 million in the prior year. EBITDA for the fourth quarter (excluding stock-based compensation expense of $1.1 million) increased $2.3 million, or 38.0 percent, to $8.4 million, compared with $6.1 million in the prior year period. For the year, net income from continuing operations increased 131.0 percent to $12.7 million, or $0.19* per share compared with $5.5 million or $0.08 per share in the prior year. For the fourth quarter, net income from continuing operations increased to $1.3 million, or $0.02 per share, compared with a loss of $360,000, or ($0.01) per share in the prior year period. Free Cash Flow* for the full fiscal year increased $9.0 million, or 65.9 percent, to $22.9 million compared with the prior year. (*EBITDA, Free Cash Flow and EPS for fiscal 2012 include a pre-tax gain of $3.8 million from the sale of 17 Fannie May Fine Chocolate company-owned stores to a new franchisee.)

Jim McCann, CEO of 1-800-FLOWERS.COM, said, “The strong top and bottom-line results achieved in Fiscal 2012, coming on top of similarly strong results last year, reflect continued positive trends in all three of our business segments. We are particularly pleased with the growth in revenues, gross margin and contribution margin in our core Consumer Floral business where we see customers reacting positively to our enhanced marketing efforts – including our industry leading initiatives in the fast evolving Social and Mobile channels – as they embrace our truly original product designs to help them deliver smiles.”

McCann said the Company’s BloomNet wire service continued to grow its market position during fiscal 2012, achieving double-digit revenue growth for a second consecutive year as well as more than 10 percent growth in contribution margin. “BloomNet has established itself as the growth leader in the wire service category with unsurpassed innovation in the expanded suite of products and services it offers to help professional florists grow their businesses.

“In our Gourmet Food and Gift Baskets, we achieved revenue growth for the year reflecting strong ecommerce growth in our Cheryl’s, 1-800-Baskets.com and The Popcorn Factory brands, combined with wholesale channel growth in our Fannie May Fine Chocolates business, which more than offset the loss of revenues associated with the sale of 17 Fannie May Fine Chocolate retail stores, which we completed during the second quarter of the year. The strategic store sale was part of a 62-store franchise deal that includes an additional 45 new stores to be opened over the next three years, significantly accelerating our franchising program for Fannie May. We believe these franchise stores, in addition to other franchise agreements already signed or in development, will provide significant growth opportunities in the future across ecommerce, retail and wholesale channels for the iconic Fannie May brand,” said McCann.

McCann also noted that sales and profit margins in the Company’s Gourmet Food and Gift Basket category were impacted during the fiscal year by reduced order volumes in wholesale gift baskets. “Fortunately, based on the improved demand we are now seeing from the key mass market accounts, we expect to achieve renewed growth in both revenues and contribution margin in this area in fiscal 2013,” he said.

Category Results:

The Company provides selected financial results for its business categories in the tables attached to this release and as follows. Results for the fiscal 2012 full year include 52 weeks compared with 53 weeks in the prior year; results for the fiscal 2012 fourth quarter include 13 weeks compared with 14 weeks in the prior year period as well as the aforementioned impact of the shift of the Easter holiday.

• Consumer Floral: full year revenues grew $29.0 million, or 7.9 percent to $398.2 million and fourth quarter revenues grew approximately $300,000, or 0.3 percent to 124.0 million, compared with $369.2 million and $123.7 million in the respective prior year periods. Gross profit margin increased 90 basis points to 38.9 percent for the year and 90 basis points to 39.2 percent for the fourth quarter, compared with 38.0 percent and 38.3 percent in the respective prior year periods. The significant improvement in gross profit margin reflects enhanced product mix, logistics and reduced promotional marketing programs. Reflecting the higher revenues and gross margin, category contribution margin increased 19.8 percent to $39.1 million for the year and 9.8 percent to $12.2 million for the fourth quarter, compared with $32.7 million and $11.2 million in the respective prior year periods.
• BloomNet Wire Service: full year revenues increased $9.3 million, or 12.7 percent to $82.6 million and fourth quarter revenues increased approximately $400,000, or 1.9 percent to $21.7 million, compared with $73.3 million and $21.3 million in the respective prior year periods. Gross profit margin was 46.9 percent for the year and 48.2 percent for the fourth quarter, compared with 50.3 percent and 44.6 percent in the respective prior year periods. The higher gross margin in the fourth quarter reflects the normalization of gross margin percentage as the Company leverages its increasing order volumes. Category contribution margin increased 10.6 percent to $22.3 million for the year and 23.6 percent to $6.4 million for the fourth quarter, compared with $20.2 million and $5.2 million in the respective prior year periods.
• Gourmet Food and Gift Baskets: full year revenues increased 3.2 percent to $236.7 million while fourth quarter revenues declined 8.8 percent to $33.9 million reflecting the shift of the Easter holiday, compared with $229.4 million and $37.2 million in the respective prior year periods. Gross profit margin was 42.1 percent for the year and 43.6 percent for the fourth quarter, compared with 43.1 percent and 43.7 percent in the respective prior year periods. Gross profit margins for the year and fourth quarter were impacted by increased commodity costs and shipping fuel surcharges as well as product mix. Category contribution margin for the year was $26.0 million, excluding the gain on the sale of the 17 retail stores, and $600,000 for the fourth quarter, compared with $27.8 million and $1.5 million in the respective prior year periods. Category contribution margin for the year was impacted by the sale of 17 company-owned Fannie May retail stores as well as weaker performance in wholesale gift baskets, while fourth quarter contribution margin was impacted by the shift of the Easter holiday.

Customer Metrics

In terms of its key customer metrics from continuing operations, approximately 4.6 million e-commerce customers placed orders during fiscal 2012, of which 55.8 percent were repeat customers. During the year, the Company attracted approximately 2.0 million new customers. For the fiscal fourth quarter, the Company said approximately 1.6 million e-commerce customers placed orders, with repeat customers representing 63.7 percent of the total. During the quarter, the Company attracted approximately 577,000 new e-commerce customers.

Company Guidance:

For fiscal 2013, the Company said it expects to grow revenues across all three of its business segments with consolidated revenue growth for the year anticipated to be in the mid-single-digit range. Also, based on continued improvements in gross profit margin and operating leverage, the Company anticipates achieving double-digit year-over-year increases in EBITDA and EPS.

McCann said, “Our fiscal 2013 guidance is based on the positive trends – both top and bottom-line – that we have seen in our business over the past two years, balanced by the continued uncertainty in the global economy. We plan to continue our focus on managing those aspects of our business where we can drive growth and enhanced results, including our:

• merchandising and marketing initiatives featuring truly original products that have helped us drive increased average order value and gross profit margins,
• efforts in manufacturing, sourcing and shipping that have helped absorb rising commodity and fuel costs and enhanced operating cost leverage, and
• investments in innovation for the future, including our industry leading efforts in Social and Mobile arenas, BloomNet and franchising programs in consumer floral and Fannie May.

We believe these efforts, and others underway, will help us continue the positive trends we have seen in our business as we deepen our relationship with our customers, helping them deliver smiles, and build shareholder value.”

Definitions:

* EBITDA: Net income (loss) before interest, taxes, depreciation, amortization. Free Cash Flow: net cash provided by operating activities less capital expenditures. Category contribution margin: earnings before interest, taxes, depreciation and amortization, before the allocation of corporate overhead expenses The Company presents EBITDA, Adjusted EBITDA from continuing operations and Free Cash Flow because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company also uses EBITDA and Adjusted EBITDA as factors used to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company’s credit agreement uses EBITDA and Adjusted EBITDA to measure compliance with covenants such as interest coverage and debt incurrence. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA, Adjusted EBITDA and Free Cash Flow have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Some of the limitations of EBITDA and Adjusted EBITDA are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company's working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company's debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Free Cash Flow should only be used on a supplemental basis combined with GAAP results when evaluating the Company's performance.

About 1-800-FLOWERS.COM, Inc.

1-800-FLOWERS.COM, Inc. is the world’s leading florist and gift shop. For more than 30 years, 1-800-FLOWERS® (1-800-356-9377 or www.1800flowers.com) has been helping deliver smiles for our customers with gifts for every occasion, including fresh flowers and the finest selection of plants, gift baskets, gourmet foods, confections, candles, balloons and plush stuffed animals. As always, our 100% Smile Guarantee backs every gift. 1-800-FLOWERS.COM’s Mobile Flower & Gift Center was named winner of the Mobile Shopping Summit’s “Best Mobile Site of 2011.” 1-800-FLOWERS.COM was also rated number one vs. competitors for customer satisfaction by STELLAService and named by the E-Tailing Group as one of only nine online retailers out of 100 benchmarked to meet the criteria for Excellence in Online Customer Service. 1-800-FLOWERS.COM has been honored in Internet Retailer’s “Hot 100: America’s Best Retail Web Sites” for 2011. The Company’s BloomNet® international floral wire service (www.mybloomnet.net) provides a broad range of quality products and value-added services designed to help professional florists grow their businesses profitably. The 1-800-FLOWERS.COM “Gift Shop” also includes gourmet gifts such as popcorn and specialty treats from The Popcorn Factory® (1-800-541-2676 or www.thepopcornfactory.com); cookies and baked gifts from Cheryl’s® (1-800-443-8124 or www.cheryls.com); premium chocolates and confections from Fannie May® confections brands (www.fanniemay.com and www.harrylondon.com); gift baskets and towers from 1-800-Baskets.com® (www.1800baskets.com); delicious cut-fruit arrangements from FruitBouquets.com (www.fruitbuquets.com); wine gifts from Winetasting.com® (www.winetasting.com); ultra- premium meats from Stockyards.com (www.stockyards.com); as well as exquisite, customizable invitations and personal stationery from FineStationery.com (www.finestationery.com). The Company’s Celebrations® brand (www.celebrations.com) is a new premier online destination for fabulous party ideas and planning tips. 1-800-FLOWERS.COM, Inc. is involved in a broad range of corporate social responsibility initiatives including continuous expansion and enhancement of its environmentally-friendly “green” programs as well as various philanthropic and charitable efforts. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS.

Special Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,” “target” or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations for: continued market penetration in its BloomNet wire service business, its ability to build on positive trends including increases in revenue, gross margin and contribution margin in its Consumer Floral business; its ability to achieve continued top and bottom line growth in its BloomNet and Gourmet Food and Gift Baskets categories; its ability to achieve its guidance for consolidated revenue growth for the full year in mid-single digit range along with further improvement in gross profit margin and double-digit year-over-year increases in EBITDA and EPS. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results expressed or implied in the forward- looking statements, including, among others: the Company’s ability to leverage its operating platform and reduce operating expenses; its ability to grow its 1-800-Baskets.com business; its ability to manage the seasonality of its businesses; its ability to cost effectively acquire and retain customers; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether as a result of new information, future events or otherwise, made in this release or in any of its SEC filings except as may be otherwise stated by the Company. For a more detailed description of these and other risk factors, please refer to the Company’s SEC filings including the Company’s Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties.

Conference Call:

The Company will conduct a conference call to discuss the above details and attached financial results today, Thursday, August 23, 2012 at 11:00 a.m. (EDT). The call will be “web cast” live via the Internet and can be accessed from the Investor Relations section of the 1-800-FLOWERS.COM web site at www.1800flowersinc.com A recording of the call will be posted on the Investor Relations section of the Company’s web site within two hours of the call’s completion. A telephonic replay of the call can be accessed for 48 hours beginning at 2:00 p.m. EDT on the day of the call at: 1-855-859-2056 or 1-404-537-3406; Conference ID: 18445174.

Note: Attached tables are an integral part of this press release without which the information presented in this press release should be considered incomplete.

Correction of an Immaterial Error in the Financial Statements

During the first quarter of fiscal 2013, prior to announcing the Company's financial results for its fiscal 2012 fourth quarter and year ended July 1, 2012, certain errors primarily related to the accounting for deferred tax liabilities on non-amortizable intangibles arising from historical acquisitions prior to fiscal 2007 were identified. These errors in purchase price allocation subsequently impacted the goodwill impairment charge recorded by the Company in fiscal 2009. In connection with this review, the Company also identified an issue related to the treatment of deferred tax liabilities on basis differences related to fixed assets which were recorded in error during fiscal years 2009 and prior.

The Company is in the final stages of its review of this matter, and expects that it will result in a prior period adjustment to increase net income, and thus, decrease the retained deficit by approximately $1.2 million on the June 28, 2009 Consolidated Statements of Stockholders' Equity, with a corresponding adjustment to goodwill by approximately $7.6 million and deferred tax liabilities by approximately $6.4 million. The Company believes this prior period adjustment is qualitatively and quantitatively immaterial to the respective balances adjusted and will have no impact on the 2012, 2011 or 2010 statements of operations or cash flows. Correcting prior year financial statements for these immaterial errors will not require previously filed reports to be amended and as such the Company will correct the error by making adjustments to prior comparative period financial information beginning with its Annual Report on Form 10-K for the year ended July 1, 2012.

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CONTACT:
1-800-FLOWERS.COM, Inc.
Investor:
Joseph D. Pititto, 516-237-6131
invest@1800flowers.com
or
Media:
Yanique Woodall, 516-237-6028
ywoodall@1800flowers.com