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Kontoor Brands, Inc. (KTB) CEO Scott Baxter on Q1 2020 Results - Earnings Call Transcript

May 07, 2020 1:51 PM ETKontoor Brands, Inc. (KTB)
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Kontoor Brands, Inc. (NYSE:KTB) Q1 2020 Earnings Conference Call May 7, 2020 8:30 AM ET

Company Participants

Eric Tracy - Senior Director of Investor Relations

Scott Baxter - President and Chief Executive Officer

Rustin Welton - Chief Financial Officer

Conference Call Participants

Bob Drbul - Guggenheim

Erinn Murphy - Piper Sandler

Alexandra Walvis - Goldman Sachs


Greetings and welcome to the Kontoor Brands' First Quarter 2020 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It’s now my pleasure to introduce your host, Eric Tracy. Senior Director, Investor Relations. Please go ahead, sir.

Eric Tracy

Thank you, operator. Good morning, everyone, and welcome to Kontoor Brands' First Quarter 2020 Earnings Conference Call.

Participants on today's call will make forward-looking statements. These statements are based on current expectations and are subject to uncertainties that could cause actual results to materially differ. These uncertainties are detailed in documents filed with the SEC. We urge you to read our risk factors, cautionary language and other disclosures contained in those reports. Amounts referred to on today's call will often be on an adjusted dollar basis, which we clearly defined in the news release that was issued earlier this morning. Adjusted amounts exclude the impact of restructuring and separation costs, changes in our business model and other adjustments. Other adjustments during 2020 primarily represent cost associated with the company's global URP implementation and information technology infrastructure build up.

Reconciliations of GAAP measures to adjusted amounts can be found in the supplemental financial tables included in today's news release, which is available on our website at kontoorbrands.com. These tables identify and quantify excluded items and provide management's view of why this information is useful to investors. Unless otherwise noted, amounts referred to on this call will be in constant currency basis, which excludes the translation impact of

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