Kontoor Brands news and archive

Kontoor Brands raises 2024 earnings outlook

For its first quarter Kontoor Brands revenue was 631 million dollars, a decrease of 5 percent or 6 percent in constant currency compared to the prior year. The company said in a release that revenue decline was primarily driven by retailer inventory management actions in the US, a decrease in revenue from seasonal products, and lower...

People

Kontoor Brands names Tom Waldron sole chief operating officer

Wrangler parent company Kontoor Brands has announced the appointment of Tom Waldron as its sole chief operating officer, a role he will take up from March 19. In the position, which he initially shared with Christopher Waldeck, Waldron will hold the responsibility for Wrangler and Lee globally, while maintaining oversight of the company’s global...

BusinessFeatured

Kontoor Brands Q4 revenues drop, announces 'Project Jeanius' to drive growth

Fourth quarter revenue at Kontoor Brands was 670 million dollars, a decrease of 8 percent or 9 percent in constant currency, driven by retailer inventory management actions in the U.S., partially offset by gains in digital wholesale, China and DTC. Full year revenue was 2.61 billion dollars, a decrease of 1 percent. The company’s growth in DTC...

People

Kontoor Brands announces expanded role for Michael Karapetian

Kontoor Brands, Inc. has announced the promotion of Michael Karapetian to vice president of corporate development, strategy, and investor relations. Karapetian will continue to report to executive vice president and chief financial officer, Joe Alkire. Most recently, the company said in a release, he was vice president of corporate development....

Business

Kontoor Brands shares plan for 300 million US dollar share buyback program

Kontoor Brands Inc., the parent company of brands including Wrangler and Lee, has announced plans for a new share repurchasing program. Authorized by the company’s board of directors, Kontoor Brands will start a stock buyback program of up to 300 million US dollars of its common stock. The newly implemented authorization, which notably carries...

BusinessFeatured

Kontoor Brands Q3 revenues up, earnings increase by 10 percent

For the third quarter, Kontoor Brands, Inc. with a portfolio led by Wrangler and Lee brands, reported revenue of 655 million dollars, up 8 percent or 7 percent constant currency. The company’s gross margin decreased 200 basis points to 41.5 percent, EBITDA was 91 million dollars and EBITDA margin of 13.9 percent decreased 200 basis points....

People

Wrangler, Lee parent Kontoor Brands appoints new CFO

Kontoor Brands, the owner of denim labels Wrangler and Lee, has appointed a new chief financial officer (CFO) as Rustin Welton steps down after four years. Effective August 31, Welton will be succeeded by Joe Alkire, who will also take on the role of executive vice president. In his new role, Alkire will have responsibility for the enterprise...

BusinessFeatured

Kontoor Brands Q2 revenues flat but maintains outlook

Second quarter revenue at Kontoor Brands was 616 million dollars, flat compared to the same period in the prior year. The company said in a release that revenue increases, primarily driven by strength in DTC and international, were tempered by decreases in U.S. wholesale. “We delivered second quarter results largely consistent with our...

Business

Pete Kidd promoted to chief human resources officer at Kontoor Brands

Kontoor Brands, Inc. has announced the appointment of Pete Kidd as executive vice president and chief human resources officer, effective July 20, 2023. As a member of the company’s executive leadership team, Kidd will report to Kontoor’s president, chief executive officer and chair of the board, Scott Baxter. “As an accomplished leader with a...

BusinessFeatured

Kontoor Brands Q1 sales improve by 2 percent

Kontoor Brands, Inc. reported first quarter revenue of 667 million dollars, a 2 percent or 1 percent decrease in constant currency. Revenue increases, the company said, primarily driven by strength in domestic wholesale and DTC, were more than offset by decreases in international wholesale, primarily driven by the continued impacts of...

BusinessFeatured

Kontoor Brands revenues increase but China lockdowns weigh on results

For the fourth quarter, Kontoor Brands reported revenue of 732 million dollars, a 7 percent or 9 percent increase in constant currency over the same period in the prior year. The company said, revenue increases were primarily driven by strength in domestic wholesale and digital, somewhat offset by decreases in international with the continued...

Fashion

Lee Jeans to launch footwear in Europe

Lee Jeans is expanding its product offering into footwear for the first time with a new collection of casual shoes and sneakers for men, women and children. The debut collection will launch for autumn/winter 2023 in the EMEA market and will be produced under a license by The Brandsplus Group, which creates footwear collections for fashion and...