KSS earnings call for the period ending September 30, 2024.
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Kohl’s (KSS -17.56%)
Q3 2024 Earnings Call
Nov 26, 2024, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Thank you for standing by. My name is Brianna, and I will be your conference operator today. At this time, I’d like to welcome everyone to the Kohl’s Corporation third quarter 2024 earnings conference call. Please note that this call is being recorded.
At this time, all participants are in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. [Operator instructions] I will now turn the conference over to Mark Rupe. Please go ahead, sir.
Mark Rupe — Senior Vice President, Investor Relations and Treasurer
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 So, if you’re listening to a replay of this call, it is possible that the information discussed is no longer current, and Kohl’s undertakes no obligation to update such information.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 Michael Bender, our independent chair of the board; Tom Kingsbury, our CEO; and Jill Timm, our chief financial officer. I will now turn the call over to Michael.
Michael Bender — Independent Chair of the Board
Thank you, Mark, and thank you for joining us this morning. I’m going to provide some brief introductory remarks, and then I’ll turn it over to Tom and Jill to review our third quarter results. We will then take some Q&A. As we shared last night, Tom Kingsbury will step down as CEO effective January 15, 2025 and will stay on in an advisory role to the new CEO and retain his position on the board through his retirement in May of 2025.
On behalf of the board, management, and all our associates, I want to thank Tom for his leadership and ongoing service to Kohl’s. Tom has a lot of history with Kohl’s, as many of you know, and we are grateful for him stepping in to lead us through our transformation over the past couple of years. I’m excited to share that the board has appointed retail veteran Ashley Buchanan as CEO effective January 15th. Ashley has been CEO of Michaels Companies since 2020 and, prior to that, held a variety of senior executive roles at Walmart and Sam’s Club during his 13 years at the company.
His vast retail experience leading operations, merchandising, and e-commerce will bring a steady proven leader to Kohl’s as we continue to transform the business and drive future growth. Ashley has driven change by setting a clear vision, empowering teams, and practicing organizational accountability for results. We know he will be a great leader and bring a new perspective in our next chapter. I’ll now turn over the call to Tom to discuss our third quarter results.
Tom Kingsbury — Chief Executive Officer
Thank you, Michael, and good morning, everyone. I would first like to thank Michael, the broader board and management team, and our associates for the opportunity to lead this great company during the past couple of years. Kohl’s long-term opportunity is significant, and I look forward to supporting Ashley through the transition. Turning to our third quarter results.
