Kohl's Corp. (NYSE:KSS) Q1 2019 Earnings Conference Call Transcript
May 21, 2019 • 09:00 am ET
Ladies and gentlemen, thank you for standing by. Welcome to Kohl's Q1 2019 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. (Operator Instructions) As a reminder, today's conference is being recorded.
I will now turn the conference over to Mr. Mark Rupe, Vice President of Investor Relations of Kohl's Department Stores. Please go ahead.
Thank you, John. Certain statements made on this call, including projected financial results and the Company's future initiatives, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Kohl's intends forward-looking terminologies such as believes, expects, may, will, should, anticipates, plans, or similar expressions identify forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected in such forward-looking statements. Such risks and uncertainties include, but are not limited to, those that are described in Item 1A in Kohl's most recent Annual Report on Form 10-K, and as maybe supplemented from time to time in Kohl's other filings with the SEC, all of which are expressly incorporated herein by reference. Forward-looking statements relate to the date initially made and Kohl's undertakes no obligation to update them.
In addition, during this call, we will make reference to adjusted net income and adjusted diluted earnings per share, which are non-GAAP measures. Information necessary to reconcile these non-GAAP measures can be found in our press release, which is filed as an exhibit to our Form 8-K with the SEC and is available on the Company's Investor Relations website.
Please note that this call will be recorded and will be available for replay through June, 21st. Replays of this call will not be updated. So if you're listening to a replay of this call, it is possible that the information discussed is no longer current and Kohl's undertakes no obligation to update such information.
With me today are Michelle Gass, our Chief Executive Officer; and Bruce Besanko, our Chief Financial Officer.
I will now turn the call over to Michelle.
Thank you, Mark. Good morning and welcome to first quarter earnings conference call. As we closed out 2018, we spoke to you about the momentum we've had over the past two years and our optimism entering 2019. While we continue to remain excited about our strong pipeline of innovation and newness.
Thank you, Mark. Good morning and welcome to Kohl's first quarter earnings conference call. As we closed out 2018, we spoke to you about the momentum we've had over the past two years and our optimism entering 2019. While we continue to remain excited about our strong pipeline of innovation and newness, we acknowledge that the year has started off slower than we'd like and we have adjustments underway to get us back on track.
The first quarter featured a lot of volatility with February being particularly tough. And while March and April trends did improve, they were below our expectations.