Carter's, Inc. (NYSE:CRI) Q4 2022 Earnings Conference Call February 24, 2023 8:30 AM ET

Company Participants

Michael Casey – Chairman and Chief Executive Officer

Richard Westenberger – Executive Vice President and Chief Financial Officer

Brian Lynch – President and Chief Operating Officer

Conference Call Participants

Warren Cheng – Evercore ISI

Jim Chartier – Monness, Crespi, Hardt & Co.

Jay Sole – UBS Equity

Tom Nikic – Wedbush Securities

Operator

Welcome to Carter's Fourth Quarter Fiscal 2022 Earnings Conference Call. On the call today are Michael Casey, Chairman and Chief Executive Officer; Richard Westenberger, Executive Vice President and Chief Financial Officer; Brian Lynch, President and Chief Operating Officer; and Sean McHugh, Vice President and Treasurer. After today’s prepared remarks, we will take questions if time allows.

Carter's issued its fourth quarter fiscal 2022 earnings press release earlier this morning. A copy of the release and presentation materials for today's call have been posted on the Investor Relations section of the company's website at ir.carters.com. Before we begin, let me remind you that statements made on this conference call and in the company's presentation materials about the company's outlook, plans and future performance are forward-looking statements.

Actual results may differ materially from those projected. For a discussion of factors that could cause actual results to vary from those contained in the forward-looking statements, please refer to the company's most recent annual and quarterly reports filed with the Securities and Exchange Commission and the presentation materials posted on the company's website.

On this call, the company will reference various non-GAAP financial measurements. A reconciliation of these non-GAAP financial measurements to the GAAP financial measurements is provided in the company's earnings release and presentation materials. Also, today's call is being recorded.

And now I would like to turn the call over to Mr. Casey.

Michael Casey

Thank you, Shannon, and good morning, everyone. Thank you for joining us on the call. Before we walk you through the presentation on our website, I'd like to share some thoughts on our business with you. Another historic year is behind us. It was our third in a row. In 2020, Carter's worked its way through a once-in-a-lifetime global pandemic and retained a higher level of profitability than most in our peer group. In 2021, we saw a strong recovery and achieved record profitability, driven by structural changes in our business and unprecedented government stimulus that supported families with young children.