Victoria's Secret & Co. (NYSE:VSCO) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET

Company Participants

Kevin Wynk - VP, External Financial Reporting & IR
Martin Waters - Chief Executive Officer
Tim Johnson - Chief Financial Officer

Conference Call Participants

Simeon Siegel - BMO Capital Markets
Dana Telsey - Telsey Group
Lorraine Hutchinson - Bank of America
Brooke Roach - Goldman Sachs
Ike Boruchow - Wells Fargo
Warren Cheng - Evercore ISI
Jonna Kim - TD Cowen
Alex Straton - Morgan Stanley
Marni Shapiro - The Retail Tracker

Operator

Good morning. My name is Ivy, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Victoria's Secret & Company First Quarter 2024 Earnings Conference Call. Please be advised that today's conference is being recorded. All parties will remain in a listen-only mode until the question-and-answer session of today's call.

I would now like to turn the call over to Mr. Kevin Wynk, Vice President of External Financial Reporting and Investor Relations of Victoria's Secret & Company. Kevin, you may begin.

Kevin Wynk

Thank you, Ivy. Good morning, and welcome to Victoria's Secret & Company's first quarter earnings conference call for the period ending May 4, 2024.

As a matter of formality, I would like to remind you that any forward-looking statements we may make today are subject to our Safe Harbor statements found in our SEC filings and in our press releases.

Joining me on the call today is CEO, Martin Waters; and CFO, Tim Johnson. 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 impact of certain 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 included in our press release, our SEC filings, and the investor presentation posted on the Investors section of our website.

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

Martin Waters

Thanks, Kevin, and good morning, everyone.

I'm pleased to report that first quarter results exceeded or met our expectations for the quarter on all key financial metrics. We experienced sequential improvement in quarterly sales trends for the third consecutive quarter in North America in both our stores and digital business for both Victoria's Secret and PINK Brands. We delivered meaningful newness in merchandise and brand projection during the quarter and our customers responded, particularly in April, which was our strongest month of the quarter.