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June 14, 2012 11:00 am ET
Alexander W. Smith - Chief Executive Officer, President, Director and Member of Executive Committee
Charles H. Turner - Chief Financial Officer, Senior Executive Vice President and Treasurer
John Marrin - Jefferies & Company, Inc., Research Division
Brian W. Nagel - Oppenheimer & Co. Inc., Research Division
David Berman - Berman Capital Management LP
Helen Pan - Barclays Capital, Research Division
Simeon Gutman - Crédit Suisse AG, Research Division
Bradley B. Thomas - KeyBanc Capital Markets Inc., Research Division
Matthew R. Nemer - Wells Fargo Securities, LLC, Research Division
Anthony C. Chukumba - BB&T Capital Markets, Research Division
Denise Chai - BofA Merrill Lynch, Research Division
Good morning, ladies and gentlemen. This is the Pier 1 Imports First Quarter Conference Call. At the request of Pier 1 Imports, today's conference call is being recorded. [Operator Instructions] I would now like to introduce Kelley Buchhorn, Director of Investor Relations for Pier 1 Imports.
Thank you, Ashley, and good morning, everyone. Prior to market open today, we issued a press release which included the detailed financial results for the first quarter ended May 26, 2012. In just a few moments, we will hear comments from Alex and Cary about the financial results and the company's growth initiatives, followed by a question-and-answer period.
Before we begin, I need to remind you that certain comments made during this call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and can be identified by the use of words such as may, will, expect, anticipate, believe and any other similar words and phrases. Our actual results and future financial conditions may differ materially from those expressed in any such forward-looking statements as a result of many factors that may be outside of our control. Please refer to our SEC filings, including our annual report on Form 10-K, for a complete discussion of the major risks and uncertainties that may affect our business. The forward-looking statements made today are as of the date of this call, and we do not undertake any obligation to update our forward-looking statements.