Kohl’s (KSS) Q3 2023 Earnings Call Transcript

Image source: The Motley Fool.

Kohl’s (KSS -8.57%)
Q3 2023 Earnings Call
Nov 21, 2023, 9:00 a.m. ET

Contents:

• Prepared Remarks
• Questions and Answers
• Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the Kohl’s Corporation Q3 2023 earnings conference call. Please note that this call is being recorded. All lines are currently in listen-only mode. After the speakers’ remarks, there will be a question-and-answer session.

[Operator instructions] We kindly ask that you limit to one question and one follow-up question. Thank you. I will now turn the call over to Mark Rupe, SVP of IR and treasury. Please go ahead.

Mark Rupe — Senior Vice President, Investor Relations and Treasury

Thank you. Certain statements made on this call, including projected financial results and the company’s future initiatives are 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 may make reference to non-GAAP financial measures. Reconciliation of non-GAAP financial measures can be found in the investor presentation filed as an exhibit to our Form 8-K filed with the SEC and is 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 So, if you’re listening to a replay of this call, it is possible that the information discussed is no longer current, and Kohl’s undertakes no obligation to update such information.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 this morning are Tom Kingsbury, our CEO; and Jill Timm, our chief financial officer. I will now turn the call over to Tom.

Tom Kingsbury — Chief Executive Officer

Thank you, Mark, and good morning, everyone. Kohl’s third-quarter earnings reflect strong gross margin and expense management as well as additional progress against our strategic priorities. We achieved this despite a softer-than-expected demand environment driven by less-than-ideal weather and persistent macroeconomic pressures on our customer….