Posted: 12/15/2024 07:58 am
1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a company well known for its floral and gift delivery services, also reflects unique trends in executive compensation over the years. Recent public disclosures reveal various layers of compensation practices within this retail sector giant.
Notably, in 2021, Christopher G. McCann, who served as CEO, Director, and President at the time, received a total compensation package valued at $3,157,705. His earnings comprised a base salary of $775,000, along with a stock award of $968,750. Moreover, incentive plan compensation amounted to $1,385,700, and other compensatory benefits rounded out his package with $28,255.^1 This compensation level indicates a reliance on performance incentives, illustrating the company's focus on aligning executive performance with shareholder interests.
By contrast, in 2023, McCann's compensation data shows a remarkable shift. Now a Director and no longer CEO, he reported a total compensation of zero across all categories, including salary, bonuses, stock awards, and incentive plans.^2 This stark difference suggests a significant restructuring or reevaluation of compensation practices or personal decisions, signaling potential shifts in corporate governance or strategy.
Similarly, in 2024, Joseph Rowland, Group President of Gourmet Foods, also reported zero compensation in any form.^3 This could indicate roles with non-traditional or deferred compensation structures in place, possibly reflecting adjustments for cost-saving measures or strategic redirections amidst changing market conditions.
The company has experienced visible fluctuations in the market, with a current stock price of $7.91 as of the latest snapshot available, a decrease from its year high of $11.42.^4 Such volatility may compel adjustments in compensation strategies, focusing on financial prudence while navigating market challenges.
The ongoing evolution of compensation practices at 1-800-FLOWERS.COM illustrates how companies in the retail sector can adapt compensation policies to mirror economic conditions, internal changes, and broader industry dynamics.
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1. Securities and Exchange Commission, EDGAR: https://www.sec.gov/Archives/edgar/data/1084869/000143774921024202/0001437749-21-024202-index.htm
2. Securities and Exchange Commission, EDGAR: https://www.sec.gov/Archives/edgar/data/1084869/000143774923029330/0001437749-23-029330-index.htm
3. Securities and Exchange Commission, EDGAR: https://www.sec.gov/Archives/edgar/data/1084869/000143774924032078/0001437749-24-032078-index.htm
4. Market Data Snapshot for FLWS
