Capri Holdings Limited (NYSE:CPRI) Q3 2023 Results Conference Call February 8, 2023 8:30 AM ET

Company Participants

Jennifer Davis - Vice President of Investor Relations

John Idol - Chairman and Chief Executive Officer

Tom Edwards - Chief Financial and Chief Operating Officer

Conference Call Participants

Matthew Boss - JPMorgan

Warren Cheng - Evercore ISI

Ike Boruchow - Wells Fargo

Alex Straton - Morgan Stanley

Brooke Roach - Goldman Sachs

Paul Lejuez - Citigroup

Simeon Siegel - BMO Capital Markets

Operator

Greetings. Welcome to Capri Holdings Limited Third Quarter 2023 Earnings 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.

At this time, I'll now turn the conference over to Jennifer Davis, Vice President of Investor Relations. Ms. Davis, you may now begin.

Jennifer Davis

Good morning, everyone, and thank you for joining us on Capri Holdings Limited third quarter fiscal '23 conference call. With me this morning are Chairman and Chief Executive Officer, John Idol; and Chief Financial and Chief Operating Officer, Tom Edwards.

Before we begin, let me remind you that certain statements made on today's call may constitute forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ from those we expect. Those risks and uncertainties are described in today's press release and in the Company's SEC filings, which are available on the Company's website. Investors should not assume that these statements made during this call will remain operative at a later time, and the Company undertakes no obligation to update any information discussed on the call.

Unless otherwise noted, all financial information on today's call will be presented on a non-GAAP basis. These non-GAAP measures exclude certain costs associated with COVID-19-related charges, the impact of the war in Ukraine, ERP implementation costs, Capri transformation costs, impairment charges, restructuring and other charges. To view the corresponding GAAP measures and related reconciliation, please view the earnings release posted on our website earlier today at capriholdings.com.

Now, I would like to turn the call over to Mr. John Idol, Chairman and Chief Executive Officer. John?

John Idol

Thank you, Jennifer, and good morning, everyone. Overall, our performance in the third quarter was more challenging than we anticipated. However, many aspects of our business performed well. In particular, we were pleased with the continued growth in our own retail channel across all three of our luxury houses.