Tapestry, Inc. (TPR) Q1 2023 Earnings Call Transcript

Tapestry, Inc. (NYSE:TPR) Q1 2023 Earnings Conference Call November 10, 2022 8:00 AM ET

Company Participants

Christina Colone - Global Head, Investor Relations

Joanne Crevoiserat - Chief Executive Officer

Scott Rowe - Chief Financial Officer and Chief Operating Officer

Todd Kahn - Chief Executive Officer and Brand President, Coach

Conference Call Participants

Bob Drbul - Guggenheim Securities

Ike Boruchow - Wells Fargo

Lorraine Hutchinson - Bank of America

Matt Boss - JPMorgan

Michael Binetti - Credit Suisse

Oliver Chen - Cowen & Company

Mark Altschwager - Baird

Brooke Roach - Goldman Sachs

Operator

Good day and welcome to this Tapestry conference call. Today’s call is being recorded today, Thursday, November 10, 2022. [Operator Instructions] At this time, for opening remarks and introductions, I would like to turn the call over to the Global Head of Investor Relations, Christina Colone.

Christina Colone

Good morning. Thank you for joining us. With me today to discuss our first quarter results as well as our strategies and outlook are Joanne Crevoiserat, Tapestry’s Chief Executive Officer; and Scott Rowe, Tapestry’s Chief Financial Officer and Chief Operating Officer.

Before we begin, we must point out that this conference call will involve certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. This includes projections for our business in the current or future quarters or fiscal years. Forward-looking statements are not guarantees and our actual results may differ materially from those expressed or implied in the forward-looking statements. Please refer to our annual report on Form 10-K, the press release we issued this morning and our other filings with the Securities and Exchange Commission for a complete list of risks and other important factors that could impact our future results and performance.

Non-GAAP financial measures are included in our comments today and in our presentation slides. For a full reconciliation to corresponding GAAP financial information, please visit our website, www.tapestry.com/investors and then view the earnings release and the presentation posted today.

Now, let me outline the speakers and topics for this conference call. Joanne will begin with highlights for Tapestry and our brands; Scott will continue with our financial results, capital allocation priorities and our outlook going forward. Following that, we will hold a question-and-answer session where we will be joined by Todd Kahn, CEO and Brand President of Coach. After the Q&A, Joanne will conclude with brief closing remarks.