Kontoor Brands Inc Stock Price, News & Analysis

Kontoor Brands (KTB) reported Q1’22 revenue of $680 million, a 4% increase year-over-year, surpassing expectations. GAAP EPS stood at $1.40, up from $1.09 in Q1’21, with revised 2022 revenue guidance exceeding $2.7 billion, a 10% growth compared to 2021. Despite macroeconomic challenges, the company noted strong demand in digital sales, particularly a 38% increase in own.com revenue. Gross margin decreased 130 basis points to 44.8%, due to elevated transitory expenses. KTB announced a quarterly dividend of $0.46 and returned $49 million to shareholders in Q1.

Kontoor Brands, Inc. (NYSE: KTB) has announced the appointment of Tom Doerr as Executive Vice President, General Counsel & Corporate Secretary starting June 6, 2022. Doerr will oversee legal and business functions, ensuring compliance and crisis management, while serving as counsel to the Board of Directors. He brings 20 years of experience, having previously held senior legal roles at The Manitowoc Company, enhancing Kontoor's growth strategy. CEO Scott Baxter emphasized the importance of Doerr's legal expertise in delivering results for customers and shareholders.

Kontoor Brands, Inc. (NYSE: KTB) has declared a regular quarterly cash dividend of $0.46 per share, payable on June 20, 2022, to shareholders of record by June 10, 2022. This dividend reflects the company's commitment to returning value to its shareholders while positioning itself for long-term growth. As a global lifestyle apparel company, Kontoor's portfolio includes iconic brands Wrangler and Lee, focusing on high-quality products and strategic brand growth.

Kontoor Brands, Inc. (NYSE: KTB) plans to announce its first quarter 2022 financial results on May 5, 2022, at 6:50 a.m. ET. Following the release, management will hold a conference call at 8:30 a.m. ET to discuss the results. The call will be accessible live and archived on the company's investor relations website. Kontoor Brands is known for its iconic brands, Wrangler and Lee, and focuses on delivering quality products while driving growth and long-term value for stakeholders.

Wrangler has launched the Wrangler Reborn™ collection, featuring vintage denim from the 1950s to 2000s, coinciding with the brand's 75th anniversary. This curated collection includes iconic styles like the 13MWZ Cowboy Cut® and Cowboy Cut® 0936, showcasing the brand's commitment to quality and sustainability. The collection supports WeCare Wrangler™, promoting circularity in fashion by reselling older denim. Wrangler aims to connect with younger audiences and celebrate their heritage through timeless, durable pieces.

Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, has announced key executive leadership changes. Chris Waldeck has been appointed as Co-Chief Operating Officer and will oversee international markets and Direct to Consumer channels for the Lee brand. Similarly, Tom Waldron has been named Co-Chief Operating Officer for the Wrangler brand, focusing on operations, product development, and innovation. CEO Scott Baxter highlighted the need for alignment and strategic focus during the company's transition towards growth.

Wrangler® has announced the expansion of its Rooted Collection® for Spring '22, featuring jeans and shirts made from U.S.-grown sustainable cotton.

New offerings include men’s and women’s jeans and state-specific jeans for Alabama, California, North Carolina, and Texas.

This initiative aims to honor local farmers, promote sustainable practices, and enhance supply chain transparency.

Wrangler targets 100% sustainable cotton usage by 2025 through its WeCare Wrangler™ platform, ensuring each cotton source is traceable.