Victoria's Secret & Co. (NYSE:VSCO) Q1 2022 Results Conference Call June 1, 2022 8:00 AM ET

Company Participants

Jason Ware - VP, IR

Martin Waters - CEO

Tim Johnson - CFO

Brad Kramer - EVP, Finance

Conference Call Participants

Ike Boruchow - Wells Fargo

Lorraine Hutchinson - Bank of America

Matthew Boss - JP Morgan

Simeon Siegel - BMO Capital Markets

Dana Telsey - Telsey Group

Omar Saad - Evercore Partners

Alexandra Straton - Morgan Stanley

Adrienne Yih - Barclays

Jay Sole - UBS

Susan Anderson - B. Riley

Marni Shapiro - Retail Tracker

Corey Tarlowe - Jefferies

Janet Kloppenburg - JJK Research Associates

Operator

Good morning. My name is Madison, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Victoria's Secret & Company’s First Quarter 2022 Earnings Conference Call. Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to turn the call over to Mr. Jason Ware, Vice President, Investor Relations at Victoria's Secret & Company. Jason, you may begin.

Jason Ware

Thanks, Madison. Good morning, and welcome to Victoria's Secret & Co.'s First Quarter Earnings Conference Call for the period ending April 30, 2022. As a matter of formality, I need to remind you that any forward-looking statements we may make today are subject to our safe harbor statement found in our SEC filings and in our press releases.

Joining me on the call today are CEO, Martin Waters, CFO, Tim Johnson; and EVP, Finance; Brad Kramer. We are available today for up to 45 minutes to answer any questions.

Certain results we discuss on the call today are adjusted results and exclude the special items described in our press release and our SEC filings. Reconciliations of these and other non-GAAP measures to the most comparable GAAP measures are also included in our press release and our SEC filings.

Thanks. And now I'll turn the call over to Martin.

Martin Waters

Thanks, Jason, and good morning, everyone. When we last talked with you 3 months ago, we said first quarter was going to be challenging. Notwithstanding the current operating environment, I'm pleased to report that we delivered on our major initiatives during the quarter.

Before we dive in, I want to thank all of our associates and partners for their hard work, commitment and resilience. Our teams have remained focused on execution, enabling us to generate sales at the high end of our guidance and stronger-than-expected adjusted earnings per diluted share. And that's even as we navigated significant supply chain headwinds and left the federal stimulus benefits from prior year.