Lands' End, Inc. (NASDAQ:LE) Q3 2022 Earnings Conference Call December 1, 2022 8:30 AM ET

Company Participants

Bernie McCracken - Chief Accounting Officer

Jerome Griffith - Chief Executive Officer

Jim Gooch - President and Chief Financial Officer

Andrew McLean - Chief Executive Officer-Designate

Conference Call Participants

Dana Telsey - Telsey Advisory Group LLC

Alex Fuhrman - Craig-Hallum Capital Group LLC

Operator

Good day, and welcome to Lands' End's Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session and instructions will be given at that time. As a reminder, this call maybe recorded.

I would now like to turn the call over to Bernie McCracken, Chief Accounting Officer. You may begin.

Bernie McCracken

Good morning, and thank you for joining the Lands' End earnings call for a discussion of our third quarter fiscal 2022 results, which we released this morning and can be found on our website, landsend.com. On the call today, you will hear from Jerome Griffith, our Chief Executive Officer and Jim Gooch, our President and Chief Financial Officer. After the Company's prepared remarks, we will conduct a question-and-answer session.

Please also note that the information we are 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 will 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 will turn the call over to Jerome Griffith.

Jerome Griffith

Thank you, Bernie. Good morning, everyone, and thank you for joining us today for a discussion of our third quarter results. Our consumer is showing resiliency in the face of the uncertain macro environment stemming from the multi-decade high inflation, which is impacting buying decisions for discretionary purchases such as apparel. Despite these challenges, our sales were only 1% below our outlook and our year-ago results.