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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.
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.
Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.46 per share, representing a 15% increase from the previous amount. The dividend is set to be paid on December 20, 2021, to shareholders recorded by December 10, 2021. This decision highlights the company's commitment to returning value to shareholders while reflecting its strong cash generation and improved operational fundamentals. CEO Scott Baxter emphasized the importance of this increase as a part of the company's long-term strategic growth plans.
Kontoor Brands, Inc. (NYSE: KTB) will release its third quarter 2021 financial results on November 4, 2021, at approximately 6:50 a.m. ET. Following the results announcement, management will host a conference call at 8:30 a.m. ET to discuss the findings. The call will be accessible live via kontoorbrands.com/investors, with an archived version available later.
Lee, the iconic American denim brand, has announced its latest advertising campaign, LeeOriginals, debuting on October 4. The campaign features rising stars, including Quannah Chasinghorse and Levi Dylan, under the creative direction of renowned photographer Mark Seliger. Emphasizing optimism and authenticity, the campaign showcases the unique stories of its cast, celebrating creativity and individuality. The digital-first approach targets key creative neighborhoods in New York City and will be displayed across various streaming and social media platforms.
Kontoor Brands, Inc. (NYSE: KTB) has appointed Tammy Heller as Chief Human Resources Officer, effective September 29, 2021. Heller will oversee key HR functions and drive the company's people strategy as a member of the Executive Leadership Team. She succeeds Scott Shoener, who will retire at the end of December 2021 after over 35 years in the HR field. Heller brings substantial experience from previous roles at Perspecta and Capital One.
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