J. Crew Group (JCG)

Q3 2011 Earnings Call

December 01, 2011 11:00 am ET

Executives

Stuart Haselden -

Libby Wadle - Executive Vice President of Retail & Factory

James S. Scully - Chief Administration Officer, Chief Financial Officer and Principal Accounting Officer

Analysts

Grant Jordan - Wells Fargo Securities, LLC, Research Division

Carla Casella - JP Morgan Chase & Co, Research Division

Emily E. Shanks - Barclays Capital, Research Division

Karen Eltrich - Goldman Sachs Group Inc., Research Division

Presentation

Operator

Greetings, and welcome to the J. Crew Third Quarter 2011 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Stuart Haselden, Treasurer. Thank you. Mr. Haselden, you may begin.

Stuart Haselden

Thank you for joining us to review our third quarter 2011 results. With me today are Jim Scully, Chief Administrative Officer and Chief Financial Officer; Jenna Lyons, President and Executive Creative Director; Libby Wadle, head of our J. Crew brand; and other members of our management team.

Before we begin, I would like to remind you of the company's Safe Harbor language, with which I am sure you are familiar. The statements contained in this conference call which are not historical fact may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results might differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC and in the press release issued in connection with today's call. During this call, we will refer to adjusted EBITDA, which adjusts for items such as noncash share-based compensation, transaction-related litigation as well as the impact of purchase accounting resulting from the acquisition. You can find a reconciliation of adjusted EBITDA in Exhibit 3 of our press release as well as additional information in the MD&A section of our Form 10-Q for the third quarter of fiscal 2011.

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