CRI - Carter's Inc. (CRI) Q1 2024 Earnings Call Transcript

2024-04-26 23:06:08 ET

Carter's, Inc. (CRI)

Q1 2024 Earnings Conference Call

April 26, 2024 08:30 AM ET

Company Participants

Michael Casey - Chairman, Chief Executive Officer & President

Richard Westenberger - Senior Executive Vice President, Chief Financial Officer & Chief Operating Officer

Kendra Krugman - Senior Executive Vice President, Chief Creative & Growth Officer

Sean McHugh - Vice President & Treasurer

Conference Call Participants

Warren Cheng - Evercore ISI

Jay Sole - UBS

Ike Boruchow - Wells Fargo

Tom Nikic - Wedbush Securities

Paul Lejuez - Citi

Presentation

Operator

Welcome to the Carter's First Quarter Fiscal 2024 Earnings Conference Call. On the call are Michael Casey, Chairman and Chief Executive Officer; Richard Westenberger, Chief Financial Officer and Chief Operator Officer; Kendra Krugman, Chief Creative and Growth Officer and -- I'm sorry, Sean McHugh, Treasurer. Please note that today's call is being recorded.

I'll now turn the call over to Mr. McHugh.

Sean McHugh

Thank you. Good morning, everyone. We issued our first quarter 2024 earnings release earlier today. The release and presentation materials for today's call are available on the Investor Relations section of our company website at ir.carters.com.

Before we begin, let me remind you that statements about items such as the company's outlook are forward-looking statements. For a discussion of factors that could cause actual results to vary from those contained in the forward-looking statements, please see our most recent SEC filings and the earnings release and presentation materials posted on our website.

In these materials, you will find reconciliations of various non-GAAP financial measurements referenced during this call. After today's prepared remarks, we will take questions as time allows.

I will now turn the call over to Mike.

Michael Casey

Thank you, Sean. 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. We exceeded our sales and earnings objectives in the first quarter. Our U.S. retail sales were in line with our forecast with store sales down 1% to last year and e-commerce sales down 13% due to lower traffic....

For further details see: