Jerash Holdings (US) Inc. (NASDAQ:JRSH) Q4 2023 Earnings Conference Call June 27, 2023 9:00 AM ET

Company Participants

Roger Pondel - Investor Relations

Sam Choi - Chairman and Chief Executive Officer

Eric Tang - Executive Director

Gilbert Lee - Chief Financial Officer

Conference Call Participants

Michael Baker - D.A. Davidson & Co.

Mark Argento - Lake Street Capital Markets

Aaron Grey - Alliance Global Partners

Operator

Greetings. Welcome to the Jerash Holdings Fiscal 2023 Fourth Quarter and Full Year Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to your host, Roger Pondel, Investor Relations for Jerash Holdings. You may begin.

Roger Pondel

Thank you, Holly, and good morning, everyone. Welcome to Jerash Holdings fiscal 2023 fourth quarter and year end conference call. I'm Roger Pondel with PondelWilkinson, Jerash Holdings Investor Relations firm. It will be my pleasure momentarily to introduce the company's Chairman and CEO, Sam Choi, his Chief Financial Officer, Gilbert Lee and Eric Tang, who leads the company's operations in Jordan and today is calling in from Indonesia.

Before I turn the call over to Sam, I want to remind our listeners that today's call may include forward -looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to numerous conditions, many of which are beyond the company's control, including those set forth in the Risk Factors section of the company's most recent Form 10-K and Form 10-Q is filed with the Securities and Exchange Commission and copies of which are available on the SEC's website at www.sec.gov, along with other company filings made with the SEC from time to time.

Actual results could differ materially from these forward-looking statements and Jerash Holdings undertakes no obligation to update any forward-looking statements except, of course, as required by law.

And with that, it is my pleasure to turn the call over to Sam Choi. Sam?

Sam Choi

All right. Thank you, Roger, and hello, everyone. The retail sector is facing challenging times following the pandemic, persistently rising interest rates, the inflationary impact and other factors. All are having an impact on consumer spending.

Apparel brands have not been immune to today's environment, which for Jerash, translates to smaller orders and the product mix shift to lower margin goods and an impact on our fourth quarter results.