Good day and welcome everyone to the 1-800Flowers.com fiscal 2006, First Quarter Financial Results Conference Call. This call is being recorded. At this time for opening remarks and introduction I would like to turn the call over to vice president of investor relations, Mr. Joseph Pititto. Please go ahead sir.

Good morning and thank you all for joining us today to discuss 1-800Flowers.com’s financial results for our fiscal 2006 first quarter. My name is Joseph Pititto and I am vice president of investor relations. For those of you who have not received a copy of our press release issued earlier this morning, the release can be accessed at the investor relations section of our website at 1-800Flowers.com or you can call Patty or Donna at 516-237-6113 to receive a copy of the release by email or fax. In terms of structure our call today will begin with brief formal remarks and then we will open the call to your question. Presenting today will be James McCann, CEO and Bill Shea, CFO. Also joining us today for the Q&A section of our call is Christopher McCann, our President. Before we begin I need to remind everyone that in a number of statements that 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 detailed description of these risks and uncertainties, please refer to our SEC filings including the company’s annual report on Form 10-K and quarterly reports on Form 10-Q. The company expresses to disclaim any intent or obligation to update any of the forward-looking statements made in today’s call and according to today’s call the press release issued earlier today or any other SEC filings except as may be other wise stated by the company and I will now turn the call over to Mr. James McCann.

Good morning everyone. As we announced in this morning’s press release. Our fiscal first quarters revenues were $112.8 million an increase of almost 16% from the period a year ago. This is the continuation of the double-digit revenue growth that we achieved in the second half of the fiscal 2005. Importantly we achieve this growth in what is traditionally our lowest revenue quarter. Due to the lack of an existing college during this summer months. We also improved our gross margins by 20 basis points to 14.8% during the quarter, continuing the trend we saw in our fiscal 2005 fourth quarter. We anticipate the gross margin will continue to improve during our growing forward primarily as a result of our enhanced product re-sourcing our product mix and operational efficiencies. On the customer front during the quarter we attracted more than 500,000 new customers with 66% of them coming to us online up from approximately 450,000 and 62% of first quarter last year. In addition we further deepen the relationship we’ve with our existing customers as evidenced by the 61.1% weekly quarter rate achieved during the quarter compared with 60.5% in the period a year ago. From an operating perspective our fiscal first quarter is a very busy time as we prepare for the upcoming holiday season. During the quarter we enhanced our outlets in several key areas. First we continued the strong turn around began last year in our Home and Garden category marketed under the Plowandhearth brand where we achieved the sales growth of about 10%. With the significant increase in new product offerings and enhanced greater design in its catalogs in website we believe Plowandhearth is positioned to perform well in the current fiscal second quarter traditionally its largest. Second we further developed our Bloomnet business, mailing our first directory to our Bloomnet florist members in September, this was followed by successful advertising sales effort for the second directory which is scheduled for mailing later this quarter. The directory represents the first in a range of new products and services for our florist members that we plan to introduce going forward. And third during the quarter we made significant progress in the integration of our most recent acquisitions while the seasonality of the Winetasting Network and Cherly & Company impacted our operating results for the first quarter we anticipate that they will provide significant contributions during the current fiscal second quarter for both of our custom existing and our fast growing business gift service operations. Combined with the popcorn factory and other offerings in Candy, Gourmet foods especially Gift Basket collection, we believed that we are well positioned to be a leading player in the food, wine and gift basket category this holiday season. I will now turn the call over to Bill so that he can take you to the details of our financial results and the key metrics for the first quarter, Bill.

Thank you Jim. During the fiscal first quarter we saw the continuation of several positive trends in our business. In particular solid double digit revenue growth and an increasing gross profit margin. Importantly we expect these trends to continue during the current fiscal second quarter and throughout our fiscal 2006. Additionally the higher loss per share in the quarter compared with last year reflects, our stepped up marketing programs, which are helping us to drive accelerate revenue growth, our Bloomnet initiative which are progressing nicely. And integration and seasonality of the acquisitions we made last year the Winetasting Network and Cheryl & Company, which generated the majority of the revenues and profitability during the current quarter. We believe these investment position as well for strong top line growth and significantly faster bottom line growth in the current quarter as well as full year fiscal 2006. Regarding specific financial results and key metrics for the quarter. Total net revenues reached $112.8 million, an increase of 15.6% compared with $97.5 million in the same period last year. Online revenues grew 17.3% to $62.3 million compared with $53.1 million in the first quarter last year. These online revenues equal 61.9% of combined online and telephonic revenues for the first quarter fiscal 2006 compared with 58.5% in the same period last year. Telephonic revenues were $38.4 million up 2.1% compared with $37.6 million in the prior year period. Retail/fulfillment revenues were $12.1 million compared with $6.8 million in the year ago period. This increase primarily reflects revenues from Bloomnet and the contributions from the Winetasting Network and the retail stores of Cheryl & Company and Plowandhearth. During the quarter, our combined online and telephonic orders totaled a 1,596,000 compared with a 1,407,000 orders in the year ago period. Average orders cited during the quarter…

Thanks Bill. What you see is that we are pleased that like during the first quarter we were able to grow revenues almost 16% continuing the double digit pace we achieved in the second half of last year. In addition during the quarter we cost efficiently attracted more than a half a million new customers while concurrently increasing our refill order rate from the existing customers to more that 61%. We believe these results reflect the effectiveness of our stepped up marketing efforts and the success our “your florist of choice” message which conveys our unique ability to provide our customers with choices including how florist design gifts, how freshen our grower offerings, our exclusive expert designer collections plus all the other great gifts that our customers expect to find in their favorite florist. Candy, Giftware, Bakery gifts and a broad range of gift baskets and gift sets, all available under our great family of brands. In terms of operations during the quarter, our Plowandhearth business continued to do strongly down with 10% sales growth for the period compared with the prior year. We believe this works well for the current fiscal second quarter, which is traditionally the largest. During the quarter we continue to develop Bloomnet, expanding our florist membership and introducing our first member directory. Going forward, we plan to introduce a range of new products and services to help our Bloomnet members enhance their productivity and their profitability. Also during the quarter we made significant progress of integrating the Winetasting Network and Cheryl & Company, which we acquired in the last fiscal year. These businesses are poised to deliver solid contributions during this upcoming holiday period, for both our consumer gifting channels and our business gift services group. Combined with our existing offerings in Candy, Gourmet goods…