Levi Strauss & Co (NYSE:LEVI) Q1 2019 Earnings Conference Call Transcript

Apr 09, 2019 • 05:00 pm ET


Levi Strauss & Co (NYSE:LEVI) Q1 2019 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to the Levi Strauss & Company First Quarter Earnings Conference Call for the period ending February 24, 2019. All parties will be in a listen-only mode into the question-and-answer session, at which time instructions will follow. This conference is being recorded and may not be reproduced in whole or in part without written permission from the company.

A telephone replay will be available two hours after the completion of this call through April 15, 2019. Please use conference ID 8997045. This conference call is also being broadcast over the Internet, and a replay of the webcast will be accessible for one quarter on the company's website, levistrauss.com.

I would like to turn the call over to Aida Orphan, Senior Director, Investor Relations and Risk Management at Levi Strauss & Company.

Aida Orphan

Good afternoon, and welcome to our first quarter 2019 earnings conference call. I'm pleased to introduce members of the Levi Strauss & Company management team, Chip Bergh, President and CEO; and Harmit Singh, Executive Vice President and CFO.

Before we begin, let me briefly remind you of the few items. First, our discussion today will include forward-looking statements, including statements regarding our strategies and expected financial and operating performance. Although these forward-looking statements reflect the best judgments of our senior management, they involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the statements.

Additional information about the factors that could cause actual results to differ, it included in today's earnings press release and in our filings with the SEC, including our quarterly report on Form 10-Q which was filed today. Undue reliance should not be placed on these forward-looking statements, which are based on information available as of today's date. We disclaim any responsibility to update these forward-looking statements other than as required by law.

Our discussion today will also include certain non-GAAP financial measures. Descriptions of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures are available in the investor section of our website as well as in today's earnings press release. Finally, this call is being audio webcast in its integrity on the Investors section of our website, where a replay of this call will be available later today.

Now I'll turn over the call to Chip.

Chip Bergh

Good afternoon, everyone, and thank you for joining us today for our first quarter 2019 earnings conference call, and our first earnings call after last month's IPO. I want to pause for a moment to thank everyone who helped us get to this point, particularly our employees around the world, our Board of Directors, family shareholders and other stakeholders for their support throughout the process. And importantly, I want to welcome our new shareholders to their first call with us.

Rendering this new chapter with the business have been the stronger and more diversified than it's been in decades. As result of our iconic brands, our people, grade execution and