Kontoor Brands, Inc. (NYSE:KTB) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET

Company Participants

Eric Tracy - VP, Corporate Finance and IR

Scott Baxter - President, CEO and Chair

Rustin Welton - CFO

Conference Call Participants

Bob Drbul - Guggenheim

Will Gaertner - Wells Fargo

Jim Duffy - Stifel

Mauricio Serna - UBS

Brooke Roach - Goldman Sachs

Paul Kearney - Barclays

Operator

Greetings, and welcome to the Kontoor Brands' Q2 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host Eric Tracy, VP, Corporate Finance and Investor Relations. Thank you. You may begin, sir.

Eric Tracy

Thank you, operator, and welcome to Kontoor Brands' second quarter 2023 earnings conference call. Participants on today's call will make forward-looking statements. These statements are based on current expectations and are subject to uncertainties that could cause actual results to materially differ. These uncertainties are detailed in documents filed with the SEC. We urge you to read our risk factors, cautionary language and other disclosures contained in those reports. Amounts referred to on today's call will be on an adjusted dollar basis, which we clearly defined in the news release that was issued earlier this morning.

Adjusted amounts exclude the impact of restructuring costs. Reconciliations of GAAP measures to adjusted amounts to be found in the supplemental financial tables included in today's news release, which is available on our website at kontoorbrands.com. These tables identify and quantify excluded items and provide management's view of why this information is useful to investors. Unless otherwise noted, amounts referred to on today's call will be in constant currency, which exclude the translation impact of changes in foreign currency exchange rates.

Joining me on today's call are Kontoor Brands' President, Chief Executive Officer and Chair; Scott Baxter; and Chief Financial Officer, Rustin Welton. Following our prepared remarks, we will open the call for your questions. We anticipate the call will last about an hour.

Scott?

Scott Baxter

Thanks, Eric, and thanks for all of those joining us on today's call.

I'm going to focus my comments today on three areas. First, I'll discuss key highlights from the second quarter, including our continued share gains in the U.S., momentum in D2C, which we believe provides the best indication of brand health and the strong results of our international business led by APAC. Most importantly, I'll touch on why we believe that KTB investment thesis is so uniquely positioned given how under-indexed we are in D2C in international.