Foot Locker, Inc. (NYSE:FL) Q1 2023 Earnings Conference Call May 19, 2023 9:00 AM ET

Company Participants

Robert Higginbotham - Interim CFO and SVP, IR, Financial Planning & Analysis

Mary Dillon - CEO, President & Director

Franklin Bracken - EVP & Chief Commercial Officer

Conference Call Participants

Janine Stichter - BTIG

Paul Kearney - Barclays Bank

Corey Tarlowe - Jefferies

Joseph Feldman - Telsey Advisory Group

Arian Razai - Guggenheim Securities

Amanda Douglas - JPMorgan

Kate McShane - Goldman Sachs Group

Operator

Good morning, and welcome to Foot Locker's First Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session.

This conference call may contain forward-looking statements that reflect management's current views of future events and financial performance. Management undertakes no obligation to update these forward-looking statements, which are based on many assumptions and factors including the impact of COVID-19, effects of currency fluctuations, customer preferences, economic, and market conditions worldwide, and other risks and uncertainties described more fully in the company's press releases, and reports filed with the SEC, including the most recently filed Form 10-K or Form 10-Q.

Any changes in such assumptions or factors could produce significantly different results and actual results may differ materially from those contained in the forward-looking statements. Please note that this conference is being recorded.

I will now turn the call over to Robert Higginbotham, Interim Chief Financial Officer. Mr. Higginbotham, you may begin.

Robert Higginbotham

Thank you, operator. Welcome everyone to Foot Locker Inc's first quarter earnings call. Today's call will reference certain non-GAAP measures. The reconciliation of GAAP to non-GAAP results is included in this morning's earnings release. Note, we have a slide presentation posted on our Investor Relations website with information that will be referenced during the call.

Today, we'll begin our prepared remarks with Mary Dillon, President and Chief Executive Officer. Frank Bracken, Executive Vice President and Chief Commercial Officer, will then give more detail on our operating results across our banners. Then, I will review our quarterly results and financial position in more detail and provide color on our updated 2023 guidance. Following our prepared remarks, Mary, Frank, and I will respond to your questions.

With that, I'll now turn it over to Mary.

Mary Dillon

Thank you, Rob, and good morning, everyone. Thank you for joining us today. We are now two months into the launch of our new Lace Up strategy and there is a good deal of progress to update you on, even as the environment has become more challenging. On March 20, we hosted our Investor Day, where we unveiled the updated strategic direction for Foot Locker, which we call our Lace Up plan.