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Kontoor Brands, Inc. (NYSE: KTB) is a global lifestyle apparel company known for its iconic brands, Wrangler and Lee. With a focus on superior high-quality products, Kontoor Brands designs, manufactures, and distributes clothing that not only looks good but also fits perfectly. This commitment gives people worldwide the freedom and confidence to express themselves through fashion.
Operating through a combination of owned and leased manufacturing facilities, Kontoor Brands ensures stringent quality control and efficient production processes. The company’s distribution strategy is diverse, encompassing both brick-and-mortar retail locations and dynamic e-commerce platforms.
The financial strength of Kontoor Brands is primarily driven by its Wrangler segment, with a significant portion of its revenue generated from the United States. However, the company also maintains a robust international presence, extending its market reach and consumer base worldwide.
Recent developments include strategic partnerships and innovative product launches under the Wrangler and Lee brands. These initiatives are aimed at expanding market share, enhancing brand loyalty, and meeting the evolving preferences of global consumers.
Kontoor Brands is not just about apparel; it's about crafting a lifestyle. By blending tradition with modern trends, the company continuously adapts to the ever-changing fashion landscape, ensuring relevance and appeal across generations.
For the latest updates and relevant information about Kontoor Brands, including financial performance, new product releases, and corporate announcements, please follow news from credible sources such as the company’s official releases.
Kontoor Brands (KTB) has reaffirmed its 2022 outlook ahead of the UBS Consumer Conference on March 9, 2022. The company expects 2022 revenue to be approximately $2.7 billion, an increase of high single digits compared to 2021. For the first half of the year, Q1 revenue is projected between $650 million to $660 million, while Q2 is expected to range from $640 million to $650 million, reflecting a significant growth of 30-32% year-over-year. Kontoor's business in Russia and Ukraine remains minimal and non-material to overall revenue.
Kontoor Brands, Inc. (NYSE: KTB) reported Q4 2021 revenue of $681 million, a 3% increase from Q4 2020, with FY revenue of $2.48 billion, up 18% year-over-year. Q4 EPS was $0.75, with adjusted EPS at $0.88. For 2022, revenue is projected at about $2.7 billion, reflecting high single-digit growth compared to 2021. The company highlights its strategic investments in digital and international markets, despite challenges from VF Outlet closures. The gross margin increased to 42.8%, although adjusted gross margin saw a slight decrease. The company returned $171 million to shareholders in 2021 through dividends and share repurchases.
Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.46 per share, payable on March 18, 2022, to shareholders of record by the end of business on March 8, 2022. This decision reflects the company's commitment to delivering shareholder value. Kontoor Brands is a global lifestyle apparel company known for its iconic brands Wrangler® and Lee®.
Wrangler is celebrating its 75th Anniversary by launching a partnership with Grammy-winner Leon Bridges, featuring NFT drops that merge fashion, music, and art. The first drop includes 75 digitally animated Icon-Tier NFTs offering access to exclusive events. The auction will conclude soon, with NFTs tradeable on secondary marketplaces. In September, Wrangler will unveil a unique Legendary-Tier NFT that includes a custom denim outfit and exclusive content from Bridges, showcasing the brand's foray into the metaverse. The celebration includes additional collaborations throughout the year.
Kontoor Brands, Inc. (NYSE: KTB) will release its fourth quarter 2021 financial results on March 1, 2022, at approximately 6:50 a.m. ET. Following this, a conference call will be held at 8:30 a.m. ET to discuss the results. The call will be available for live broadcast and can also be accessed later via kontoorbrands.com/investors.
Kontoor Brands is known for its iconic brands, Wrangler and Lee, and focuses on delivering high-quality products combined with a purpose-driven organization.
Kontoor Brands, Inc. (NYSE: KTB) has appointed Ashley Goldsmith, Chief People Officer of Workday, Inc., to its Board of Directors, effective immediately. This strategic decision is supported by President and CEO Scott Baxter, highlighting Goldsmith's extensive experience in human resources and talent development. Goldsmith will serve on the Talent and Compensation and Nominating and Governance Committees, enhancing Kontoor's board with her insights as the company enters a new growth phase.
Wrangler and Roark have launched the limited-edition 'Out of Range' collection, combining western heritage with adventure-ready men’s apparel. The collection features high-quality materials such as denim, waxed canvas, and organic cotton, available from $65 to $395. Celebrating the spirit of the American West, this collaboration showcases the brands' commitment to durable and stylish outdoor wear. The launch coincides with Roark's recent exploration of the Continental Divide, reinforcing their adventurous ethos.
Kotoor Brands, Inc. (NYSE: KTB) announces the departure of Juliana Chugg from its Board of Directors, effective November 30. Chugg, a pivotal member since the company's inception in 2019, plans to focus on other business obligations. She has significantly contributed to establishing the company's foundation and growth strategy. Scott Baxter, Board Chair and CEO, acknowledged her vital role during the transition from Horizon 1 to Horizon 2, expressing gratitude for her service. Kontoor aims to leverage its strong foundation for future growth.
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