Dick's Sporting Goods Inc. (NYSE:DKS) Q1 2020 Earnings Conference Call - Final Transcript

Jun 02, 2020 • 10:00 am ET


Dick's Sporting Goods Inc. (NYSE:DKS) Q1 2020 Earnings Conference Call - Final Transcript


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Good day and welcome to the DICK's Sporting Goods First Quarter 2020 Earnings Conference Call and Webcast. [Operator Instructions]

I would now like to turn the conference over to Nate Gilch, Senior Director of Investor Relations. Please go ahead, sir.

Nate Gilch

Good morning, everyone.

Thank you for joining us to discuss our first quarter of 2020 results. On today's call will be Ed Stack, our Chairman and Chief Executive Officer; Lauren Hobart, our President; and Lee Belitsky, our Chief Financial Officer. A playback of today's call will be archived on our Investor Relations website located at investors.dicks.com for approximately 12 months.

As a reminder, we will be making forward-looking statements which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factor discussions in our filings with the SEC, including our last Annual Report on Form 10-K and cautionary statements made during this call. We assume no obligation to update any of these forward-looking statements or information. Please refer to our Investor Relations website to find the reconciliation of any non-GAAP financial measures referenced in today's call.

And finally, a couple of admin items. First, a note on our same-store sales reporting practices. Recall, last quarter, we announced our intent to move away from providing e-commerce sales growth and e-commerce penetration metrics beginning in Q1. Given the circumstance circumstances surrounding our temporary store closures, we are continuing to provide these metrics this quarter and we'll revisit this decision for Q2. And second, for your future scheduling purposes, we are tentatively planning to publish our second quarter 2020 earnings release before the market opens on August 26, 2020, with our subsequent earnings call at 10:00 AM Eastern Time.

And with that, I will now turn the call over to Ed.

Edward W. Stack

Thanks, Nate. Good morning, everyone.

Let me start by saying on behalf of all of us here at DICK's Sporting Goods, we hope each of you and your families are safe and healthy. We would all agree that this has been a difficult year so far for our country. Our hearts go out to all of those impacted by COVID-19 and the civil unrest going on across America. These events have shined a spotlight on the deep-rooted and long-standing issues around racial injustice and inequality in the country.

All of this is happening while our world is still grappling with the dramatic and continuous change as a result of the coronavirus pandemic. Virtually every business segment, including the retail industry and DICK's Sporting Goods, has been affected. Organized sports at all levels have come to a standstill; gyms and fitness centers were closed across the country, forcing everyone to build new fitness habits and routines. Throughout this evolving landscape, we anchor to our corporate values and the promise that doing the right thing is the ultimate path to success.

Our Company has a long tradition of promoting