Oxford Industries, Inc.

At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn this conference over to your host, Ms. Ann Shoemaker, Treasurer. Please go ahead.

Thank you, and good afternoon. Before we begin, I would like to remind participants that certain statements made on today's call and in the Q&A session may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees, and actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results of operations or our financial condition to differ are discussed in our press release issued earlier today and in documents filed by us with the SEC, including the risk factors contained in our Form 10-K and First Quarter 10-Q. We undertake no duty to update any forward-looking statements. During this call, we will be discussing certain non-GAAP financial measures. You can find a reconciliation of non-GAAP to GAAP financial measures in our press release issued earlier today, which is posted under the Investor Relations tab, of our website at Oxfordinc.com. And now I'd like to introduce today's call participants. With me today are Tom Chubb, Chairman and CEO, and Scott Grassmeyer, CFO. Thank you for your attention, and now I'd like to turn the call over to Tom Chubb.

Good afternoon, and thank you for joining us. I am encouraged by our third quarter results as each of our branded businesses, Tommy Bahama, Lilly Pulitzer, and Southern Tide exceeded our internal plans. During our historically smallest quarter of the year, our full price e-commerce business grew 51%, helping partially offset the headwinds in other channels due to COVID-19. Our sustained digital success this year underscores the power of our brands and their strong consumer connections and is a great indication that our business is well positioned for success in the post-pandemic environment. With the onset of COVID-19 in March, we focused on three priorities, the safety of our people and our customers, protecting the integrity of our brands, and preserving liquidity. We have done a good job executing on all three of these fronts. At the same time, our business and industry are facing significant changes that have only accelerated during the last nine months. As we have progressed through the year, while not taking our eye off the three priorities I outlined, we have resumed our focus on initiatives that will help us to better capitalize on important market trends in both the near term and the long term. In the post-pandemic world, we believe products will continue to trend towards easy to wear and easy care. Traffic in malls will remain significantly below 2019 levels. Department stores will be less relevant than they were before. E-commerce will be bigger and more important than ever. Company-owned stores and restaurants will be a physical representation of the brand, seamlessly integrated into a total direct-to-consumer ecosystem, including e-commerce, and heavily digital, diversified marketing channels will be essential. All of these trends should benefit our business as we emerge from this crisis. We are building upon our already strong foundation and are well prepared for the post-pandemic environment. We continue to identify ways in which we can better build a customer-focused, digitally-driven, mobile-centered and cross-channel, personalized and seamless shopping experience that recognizes and serves the customer in their brand discovery and purchasing habits of the future. We are delivering innovative and differentiated products that are on brand and in sync with consumers' desires and needs. From offering virtual shopping appointments, curbside pickup, digital clienteling, and having our store associates field customer service calls, to delighting our guests with our exciting Marlin Bar concepts, Each of our brands continues to develop and implement new ways to enhance the customer experience. We continue to invest in improved customer data and analytics that are helping and will help us assimilate, analyze, and use customer data to provide a better, more personalized experience that boosts retention rates and spending levels. Importantly, these tools are also helping us identify and acquire new customers, a critical initiative for us. We continue to expand our enterprise order management capabilities to increase our ability to ship from our company-owned stores by matching demand from anywhere. With inventory located anywhere, we are able to minimize stock outs, increase customer satisfaction, and improve inventory efficiency. This is helping us navigate through the pandemic and positions us well to grow and thrive in a new post-pandemic normal. Across Oxford, our talented teams have risen and continue to rise to the occasion by staying focused on our core purpose of making our customers happy. Our brands are all happy brands, and our customers look to us to deliver happiness through our products, communications, and brand experiences. Throughout this challenging period, our people in every function from creative and design to shipping and fulfillment and every function in between have helped us deliver happiness to our customers. We are grateful for their efforts and proud of their achievements. We have been in the apparel business for almost 80 years and have a portfolio of businesses which has adapted over the years to remain relevant to the marketplace and the consumer and to deliver shareholder value. Today, we announced our most recent actions the decision to exit our legacy Lanier apparel business, which has been a part of our portfolio for more than 50 years. Throughout that time, Lanier apparel has been well-run by an exceptional group of people. That said, Lanier's business model, which provides licensed tailored clothing to department stores and big box retailers, does not fit our long-term vision for the enterprise and the challenges presented by the pandemic have amplified this misalignment. Exiting this business will result in a portfolio that is completely in sync with our strategy. We are working closely with our licensors, customers, and suppliers to ensure a smooth process. And I want to personally thank the dedicated employees of Lanier Apparel for their contributions to Oxford over these many years. I'll now turn the call over to Scott with more details on our third quarter results and our plans for the rest of the year. Scott.