The Children's Place, Inc. (NASDAQ:PLCE) Q1 2023 Earnings Conference Call May 24, 2023 8:00 AM ET
Company Participants
Jane Elfers - President and Chief Executive Officer
Maegan Markee - Senior Vice President, Digital Marketing
Sheamus Toal - Chief Financial Officer
Conference Call Participants
Jim Chartier - Monness, Crespi, Hardt
Jeff Lick - B. Riley Financial
Jay Sole - UBS
Operator
Good morning and welcome to The Children's Place First Quarter 2023 Earnings Conference Call.
On the call today are Jane Elfers, President and Chief Executive Officer; Sheamus Toal, Chief Financial Officer; Maegan Markee, Senior Vice President, Digital Marketing; and Josh Truppo, Vice President, Financial Planning and Analysis. After the prepared remarks, we will open the call up to your questions.
The Children's Place issued its first quarter 2023 earnings press release earlier this morning, and a copy of the release and presentation materials have been posted to the Investor Relations section of the company's website.
Before we begin, let me remind you that statements made on this conference call and in the company's earnings release and 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.
It is now my pleasure to turn the call over to Jane Elfers.
Jane Elfers
Thank you, and good morning, everyone. Our Q1 results were negatively impacted by the ongoing macro-tension, which resulted in outsized pressure on our core consumer by limiting their purchasing power. With respect to monthly cadence, February was the strongest month. March was below expectations and April further decelerated post Easter.
For Q1, our e-commerce top line trend was significantly better than our stores trend. Quarter-to-date, top line retail trends have decelerated from April with continuing inflationary pressure on our lower income consumer. Based on what we believe will continue to be a difficult macro environment, we have tempered both our top and bottom line expectations for the balance of the year.