Ralph Lauren Corp (RL) CEO Patrice Louvet on Q1 2023 Results - Earnings Call Transcript

Ralph Lauren Corp (NYSE:RL) Q1 2023 Earnings Conference Call August 9, 2022 9:00 AM ET

Company Participants

Corinna Van Ghinst - VP, IR

Patrice Louvet - President, CEO & Director

Jane Nielsen - CFO & COO

Conference Call Participants

Jay Sole - UBS

Michael Binetti - Crédit Suisse

Matthew Boss - JPMorgan Chase & Co.

Omar Saad - Evercore ISI

Christopher Nardone - Bank of America Merrill Lynch

Dana Telsey - Telsey Advisory Group

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Ralph Lauren First Quarter Fiscal Year 2023 Earnings Call. [Operator Instructions]. As a reminder, this conference is being recorded. I'd now like to turn over the conference to our host, Ms. Corinna Van Ghinst. Please go ahead.

Corinna Van Ghinst

Good morning, and thank you for joining Ralph Lauren's First Quarter Fiscal 2023 Conference Call. With me today are Patrice Louvet, the company's President and Chief Executive Officer; and Jane Nielsen, Chief Operating Officer and Chief Financial Officer. After prepared remarks, we will open up the call for your questions, which we ask that you limit to one per caller.

During today's call, we will be making some forward-looking statements within the meaning of the federal securities laws, including our financial outlook. Forward-looking statements are not guarantees, and our actual results may differ materially from those expressed or implied in the forward-looking statements. Our expectations contain many risks and uncertainties, principal risks and uncertainties that could cause our results to differ materially from our current expectations are detailed in our SEC filings.

To find disclosures and reconciliations of non-GAAP measures that we use when discussing our financial results, you should refer to this morning's earnings release and to our SEC filings that can be found on our Investor Relations website.

And with that, I'll turn the call over to Patrice.

Patrice Louvet

Thank you, Cory. Good morning, everyone, and thank you for joining today's call. Our strong first quarter performance underscores the resilience and momentum of our business around the world. This follows our significant multiyear reset to transform our consumer base, product portfolio and distribution. These results also validate the strong confidence that Ralph and I have in our teams who are consistently executing with incredible dedication and agility through what continues to be uncertain times.

We exceeded our expectations again on both the top and bottom line with broad-based strength across all 3 regions despite macro headwinds from COVID and inflationary pressures in the quarter. Our teams are driving increasing desirability for our brands and products enabling high-quality consumer recruitment as well as retention.