Clarus Corporation

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Claris Corporation's financial results for the first quarter ended March 31st, 2024. Joining us today are Claris Corporation's Executive Chairman, Warren Kanders, CFO Mike Yates, President Black Diamond Equipment, Neil Fisk, Management Director of Claris' Adventure Segment, Matthew Hayward, and the company's external director of investor relations, Matt Berkowitz. Following the remarks, we'll open the call for your questions. Before we go further, I would like to turn the call over to Mr. Berkowitz as he reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Matt, please go ahead.

Thank you. Before we begin, I'd like to remind everyone that during today's call, we will be making several forward-looking statements, and we make these statements under the safe harbor provisions of the Private Securities Litigation Reform Act. These forward-looking statements reflect our best estimates and assumptions based on our understanding of information known to us today. These forward-looking statements are subject to potential risks and uncertainties that could cause the actual results of operations or financial condition of Claire's Corporation to differ materially from those expressed or implied by the forward-looking statements. More information on potential factors that could affect the company's operating and financial results is included from time to time in the company's public reports, followed by the SEC. I'd like to remind everyone this call will be available for replay starting at 7 p.m. Eastern time tonight. A webcast replay will also be available via the link provided in today's press release, as well as on the company's website at clariscorp.com. Now I'd like to turn the call over to Claris' Executive Chairman, Warren Kanders.

Good afternoon, and thank you all for joining Claris' earnings call to review our results for the first quarter. I am pleased to be joined today by not only our Chief Financial Officer, Mike Yates, but also Neil Fisk and Matt Hayward, who lead our outdoor and adventure segments. At our investor day this past March, we discussed wanting to deliver a comprehensive segment-level view so that we are excited to have Neil and Matt deliver a comprehensive on board for earnings calls going forward. Last year, we took crucial steps to realign our overall platform and individual brands, and a key component of this strategy was hiring highly experienced and dedicated executives to guide the outdoor and adventure businesses. Since their appointments last year, both have made considerable progress implementing strategic plans to streamline business processes and capitalize on clear long-term growth opportunities. Today, I am confident that we have the right team in place, and we continue to be encouraged by the steps Neil and Matt are taking to advance our rebased businesses and turnaround. At our investor day, we outlined a strategic roadmap highlighting anticipated multi-year growth and margin expansion targets for both segments that we believe Claris can achieve. The first quarter of 2024 represented the initial phase of these plans. While Neil and Matt will provide more specific comments, we are encouraged by the incremental progress demonstrated in the first quarter. In outdoor, we continue to seek to prioritize simplification and right-sizing, which we believe is evidenced by a reduction in total outdoor inventory of 15% versus last year. At Adventure, we saw significant year over year sales growth driven by the launch of compelling new products and expansion in our OEM channel. Based on the results to date, we are pleased to reaffirm our full year guidance, which Mike will detail later in the presentation. There is still much more work to be done, but we believe we have laid the foundation to drive increased profitability and unlock new growth opportunities in 2024 and beyond. With that, thank you. again, for being with us today. And I will turn the call over to Mike.