Lands' End, Inc.

Thank you for your patience and please continue to stand by. The Landon second quarter 2021 earnings conference call will begin momentarily. Thank you for your patience and please continue to stand by. Thank you. Thank you for standing by, and welcome to the Land's End second quarter 2021 earnings call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you need to press star then one on your telephone. Please be advised that today's call is being recorded. If you require additional assistance, press star then zero to reach an operator. I would now like to hand the call over to Bernard McCracken, CAO. Please go ahead.

Good morning, and thank you for joining the Lands End earnings call for a discussion of our second quarter 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'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. Of note, in this respect, the COVID-19 pandemic continues to have an impact on our business, and its duration can materially alter our outlook. 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 LandZen.com. With that, I will turn the call over to Jerome Griffith.

Thank you, Bernie. Good morning, everyone, and thank you for joining us today for a discussion of our second quarter results. Building on our July 20th announcement, where we raised our second quarter and full-year outlook, we are extremely pleased with our results across all financial metrics. This quarter, Land's End delivered the highest second quarter revenue in our 58-year history. Our top-line momentum was driven by the continued strength in our global e-commerce business, as well as the earlier-than-expected recovery in our outfitters business, as both our national accounts and school uniforms businesses showed meaningful improvement. Within our global e-commerce business, our digitally-led product offering and compelling marketing strategies continue to drive growth. We are a digitally-led e-commerce business and are continuing to enhance our capabilities through our data-driven focus, an important driver of our customer acquisition. During the second quarter, we increased our global new customers by 8% from the prior year and 41% from the second quarter of 2019. Our total global customer file expanded 4% from the prior year and 13% from the same period in 2019. As we shared with you last quarter, our new customers are profitable within the first year, supporting our efficient new customer acquisition strategies. The overall customer file has continued to perform and behave similarly to our pre-pandemic customers, with retention rates consistently over 55%, even as stores have reopened. We continue to profitably and sustainably expand our presence in global e-commerce apparel as we enhance our capabilities across the four strategic pillars we first shared with you over three years ago. Our progress is demonstrated by the strength of our financial performance and our encouraging customer metrics. Our sustainable performance with both our new and existing customers is in part driven by the marketing initiatives we have implemented as we continue to further enhance our digital capabilities. Over the past few quarters, we've increased our marketing spend by prioritizing it as a key investment in building our brand and business. Beginning last quarter, we started to further emphasize our presence in social media through paid programs, which we accelerated during the second quarter. This builds on our digital-first marketing approach and complements our more advanced initiatives in search engine optimization. Both our paid social media as well as search engine optimization are highly productive marketing vehicles. allowing us to strengthen our new customer acquisition and retain our existing customers. While our trends in paid social media are strong, we remain in early stages and see continued opportunity to drive new customers to the brand through this channel. I will now provide you with some detail on our product this quarter. Our Let's Get Comfy messaging, which we introduced pre-pandemic, remained our focus this quarter as strong trends in casualization continued. We emphasized our one closet message, the versatility of our product offering and the diversity of our fit, as well as built marketing campaigns around our brand pillars. During the quarter, the swimwear category saw a significant increase as more customers began to take vacations again, a trend that has extended later into the season compared to prior years. We saw strength across the entire swimwear family, with particular growth in more versatile products such as board shorts, swim skirts, and dresses. We also saw strength in our sleepwear, knits, and woven businesses. Sleepwear remains a strong category as customers are responding to our expanded year-round offering. We continue to believe the casualization trend that we embarked on prior to the pandemic will remain. As more companies embrace a hybrid in-office, work-from-home approach, we expect comfort to remain a priority, driving a more casual where-to-work aesthetic. Our khakis and woven businesses, both of which were strong this quarter, are attractively positioned to benefit from the casualization trend. During the second quarter, our U.S. e-commerce sales were encouraging, increasing 8 percent from a year ago. Our performance in Europe increased a strong 17 percent from the prior year in the second quarter. Our outfitters business continued to recover, driven by better than expected performance in our national accounts and our school uniforms business, where the number of households has returned to nearly 2019 levels. Our performance at Kohl's exceeded our expectations again this quarter, and we remain highly encouraged by this partnership, which has allowed us to expand our brand to consumers with similar attributes to our existing customer base. We will continue to carefully examine future partnerships and distribution expansion opportunities. We are proud of what we have achieved these past few years, building a strong business model that has withstood an unprecedented operating environment and is now performing even stronger. The accelerated momentum in our performance, which is reflected in our record high sales this quarter, is further proof of our operating model, positioning us to drive long-term profitable growth. With that, I will turn the call over to Jim, who will provide you with greater details on our financial performance during the second quarter.