Lands' End, Inc. (NASDAQ:LE) Q2 2023 Earnings Conference Call August 31, 2023 8:30 AM ET
Company Participants
Bernie McCracken - Interim CFO
Andrew McLean - CEO
Conference Call Participants
Dana Telsey - Telsey Group
Alex Fuhrman - Craig-Hallum Capital Group
Operator
Good day, everyone, and welcome to the Lands' End Second Quarter Earnings Call. [Operator Instructions] Please note, this call will be recorded. [Operator Instructions]
It is now my pleasure to turn the conference over to Bernie McCracken, Interim Chief Financial Officer. Please go ahead.
Bernie McCracken
Good morning, and thank you for joining the Lands' End earnings call for a discussion of our second quarter 2023 results. which we released this morning and can be found on our website, landsend.com. I'm Bernie McCracken, Interim Chief Financial Officer, and I'm pleased to join you today with Andrew McLean, our Chief Executive Officer.
After the prepared remarks, we will conduct a question-and-answer session. Please also note that the information we're about to discuss includes forward-looking statements. Such statements involve risks and uncertainties. The company's actual results could differ materially from those discussed on this call. Factors that could contribute to such differences include, but are not limited to, those items noted and included in the company's SEC filings, including our annual report on Form 10-K and quarterly reports on Form 10-Q.
The forward-looking information that is provided by the company on this call represents the company's outlook as of today, and we do not undertake any obligation to update forward-looking statements made by us. Subsequent events and developments may cause the company's outlook to change.
During this call, we'll be referring to non-GAAP measures. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures can be found in our earnings release issued earlier today, a copy of which is posted in the Investor Relations section of our website at landsend.com.
With that, I'll turn the call over to Andrew.
Andrew McLean
Thank you, Bernie. Good morning, and thank you for joining us today.
Before I dive into a review of our second quarter performance, I want to take a moment to highlight a few key callouts for the period. We successfully injected newness across our assortment. We gained market share in our solutions-based swim category. We strategically rightsized our inventory position, ending the quarter well below prior year levels and a strengthened quality and content position, paving the way for greater levels of newness to come.