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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, 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.
Wrangler and ViacomCBS Consumer Products announce the launch of the Wrangler x Yellowstone Collection, inspired by the popular TV series. Following the success of the series, the collection features denim and twill work shirts, jackets, hoodies, and t-shirts adorned with the Dutton Ranch’s iconic ‘Y’ brand. The collection is designed for fans of the western lifestyle and is available from November 15, with prices ranging from $27.99 to $79.99. Both brands aim to bring authenticity and quality to the fans of the show.
Kontoor Brands reported Q3 earnings with an EPS of $1.07 and adjusted EPS of $1.28, reflecting a 12% revenue increase to $652 million year-over-year.
Gross margin improved to 44.4%, while adjusted gross margin rose to 44.1%. The company raised its fiscal 2021 guidance, expecting adjusted EPS between $4.15 and $4.20, up from $3.90 to $4.00. U.S. revenue reached $493 million, an 8% increase, driven by digital growth. International revenue surged by 25%, boosted by strong performance in China and Europe. A quarterly dividend of $0.46 was declared, marking a 15% increase.
Lee and Pendleton Woolen Mills have launched their first collaboration, a limited edition capsule celebrating American craftsmanship. This collection features iconic styles like the Lee 101™ Jean and Storm Rider® Jacket, reimagined with Pendleton patterns. Crafted in Greensboro, North Carolina, using US-produced selvedge denim, the capsule emphasizes heritage and quality. Prices range from $175 to $400, with availability starting on November 2 on their websites and select retailers later in the month.
Kontoor Brands, Inc. (NYSE:KTB) announced the expansion of its Indigood™ Facility Certification program, aimed at enhancing water conservation in textile manufacturing. This initiative is part of Kontoor's commitment to sustainability, having already saved over 8 billion liters of water since 2019. The program encourages textile mills to adopt innovative water-saving technologies, with the first certified mill located in India. Through this expansion, Kontoor seeks to significantly reduce its carbon footprint and promote sustainable practices in the apparel industry.
Wrangler has unveiled a new collection in collaboration with Adult Swim's 'Rick and Morty,' featuring four original designs. The Wrangler x Rick and Morty Collection launches exclusively on Wrangler.com, coinciding with the Adult Swim Festival on November 12-13, 2021. Following the success of last year's sold-out collection, which garnered various awards, the new items range from $59 to $79. Wrangler is celebrating 75 years in business, hinting at more exciting partnerships in the future.
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