BJ's Wholesale Club Holdings, Inc (NYSE:BJ) Q1 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 08:30 am ET


BJ's Wholesale Club Holdings, Inc (NYSE:BJ) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to BJ's Wholesale Club Q1 Fiscal 2020 Earnings Conference Call. [Operator Instructions]. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to your speaker today Faten Freiha, Vice President of Investor Relations. Thank you. Please go ahead ma'am.

Faten Freiha

Good morning, everyone. Thank you for joining BJ's Wholesale Club's first quarter fiscal 2020 Earnings Conference Call. Lee Delaney, President and CEO; Bob Eddy, Chief Financial and Administrative Officer; and Bill Warner, Senior Vice President Strategic Planning and Investor Relations are on the call.

Please remember that during this call, we may make forward-looking statements within the meaning of the Federal Securities Laws. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from our expectations described on this call. Please see the Risk Factors section of our Form 10-K filed with the SEC on March 19, 2020 for a description of those risks and uncertainties.

Finally, please note that on today's call, we will refer to certain non-GAAP financial measures that we believe will provide useful information for investors. The presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Please refer to today's press release posted on the Investors section of our website for a reconciliation of these non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP.

With that, I'll turn the call over to Lee.

Lee Delaney

Good morning, everyone. I hope you and your families are safe and healthy during these unprecedented and challenging times. Our thoughts go out to everyone who has been affected by the coronavirus pandemic.

So much has changed since we last spoke. This pandemic has presented us all with challenges. I am proud of how we managed our business in this new environment and deeply thankful for the contributions of our club and distribution center team members who have tirelessly served a surge in demand for our central products while embracing new safety conditions and protocols.

I also want to thank our home office team members for working hard to innovate on safety and product supply, as well as their flexibility and adapting to different ways of working and also thank our vendor partners who have been incredibly supportive of our outsized demand. Our team members hard work and dedication has enabled us to safely serve our communities. We are humbled by our role in these difficult times and value the trust and confidence, our members have in us to provide them with the essential products and services.

Our first and most important priority is the health and safety of our team members, members, and community. Since the outbreak of the pandemic, we have taken aggressive actions and implemented extensive safety measures across all our facilities. We have put in place increased sanitization and social