Kohl's Corp. (NYSE:KSS) Q1 2020 Earnings Conference Call - Final Transcript

May 19, 2020 • 09:00 am ET

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Kohl's Corp. (NYSE:KSS) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the Q1 2020 Kohl's Corporation Earnings Conference Call.

[Operator Instructions]

I would now like to hand the conference over to your speaker today, Mark Rupe, Vice President, Investor Relations. Thank you. Please go ahead.

Executive
Mark Rupe

Thank you, operator.

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 terminology such as believes, expects, may, will, should, anticipates, plans, or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Kohl's 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 may be 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 and investor presentation, both of which have been filed as exhibits to our Form 8-K with the SEC and are available on the company's Investor Relations website.

Please note that this call will be recorded. However, 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 So if you're listening to a replay of this call, it is possible that the information discussed is no longer current, and Kohl's undertakes no obligation to update such information.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 Jill Timm, our Chief Financial Officer.

I will now turn the call over to Michelle.

Executive
Michelle Gass

Thank you, Mark. Good morning and welcome to Kohl's first quarter earnings conference call.

A lot has happened since our last earnings call on March 3. The escalation of the COVID-19 pandemic has challenged the world in ways never thought imaginable. It is affected each of us to varying degrees and has had a significant economic toll. I hope you and your families are safe and healthy during this time. As difficult as this unprecedented health crisis has been, I am comforted by the resilience and generosity that has been exhibited by so many. Our sincere gratitude goes out to all of those on the front line that have worked tirelessly to support the greater good. I'd like to thank our associates for their support and commitment, as we have continued to operate portions of our business. I would also like to recognize and thank our many business partners and vendors that have been instrumental in helping us navigate through this crisis.

We've had to make difficult decisions to ensure our business continuity, and