Ascena Retail Group Inc. (NASDAQ:ASNA) Q1 2020 Earnings Conference Call - Preliminary Transcript

Dec 09, 2019 • 04:30 pm ET

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Ascena Retail Group Inc. (NASDAQ:ASNA) Q1 2020 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the First Quarter 2020 Ascena Retail Group Earnings Conference Call. As a reminder, this conference call is being recorded. I would now like to introduce your host for today's conference, Jean Fontana of ICR. You may begin.

Executive
Jean Fontana

Thank you, good afternoon everyone and welcome to the Ascena's first quarter of fiscal 2020 Earnings Call. Before we begin, I would like to remind you that certain statements and information made available on today's call may be deemed to constitute forward-looking statements. These forward-looking statements reflect the company's current expectations as of December 9th, 2019 and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially factors that could cause actual results to differ from the forward-looking statements.

That's on today's call, please see the risks and uncertainties identified under the heading Risk Factors in Ascena's annual and quarterly reports filed with the SEC. The company undertakes no obligation to revise or update any forward-looking statements. Additionally, today's call and webcast may refer to non-GAAP financial measures, a reconciliation of GAAP and non-GAAP measures discussed today is included in our earnings release a copy of which was filed with the US Securities and Exchange Commission. In the current report Form 8-K earlier today. Please refer to the for Investors section of ascenaretail.com, where a replay of today's conference call.Note that the company has posted a supplemental slide package to augment information provided on today's call on its IR website. And as an attachment to its 8-K released earlier today. Participating in today's call are Carrie Teffner, Interim Executive Chair; Gary Muto Chief Executive Officer; and Dan Lamadrid, Chief Financial Officer.

Thank you and I will now hand the call over to Carrie.

Executive
Carrie Teffner

Thank you, Jean and thank you all for joining us this afternoon. As I mentioned on last quarter's call I am optimistic about the opportunities for Ascena we have a portfolio of strong brands three of which individually, generate revenue of approximately $1 billion or more

our focus on driving all of our brands, combined with a streamlined back end will enable us to optimize the growth and profitability potential of Ascena we remain committed to simplifying this business and focusing on fewer and more meaningful initiatives that will enhance for experience with our brands.

During fiscal Q1, we continue to make advances across our strategic initiatives. Positioning us for improved performance this progress enabled us to exceed our fiscal Q1 expectations an operating income above last year. Last month, Gary announced the appointment of 2 key executives to his team Morris the Baldwin is EVP and Chief Human Resources Officer. And just the McFarland as EVP and Chief Customer Officer these appointments will support the continued execution of our strategy and largely Complete Gary's leadership team.

I look forward to the contributions that (ph) Marisa and (ph) Justin will bring our portfolio review continues as we evaluate options to enhance shareholder