Kontoor Brands, Inc. - KTB STOCK NEWS

Kontoor Brands (NYSE:KTB) celebrates World Water Day by expanding its Indigood™ program, which focuses on water-saving technologies in apparel production. Originally launched in 2019, the program now includes methods that use at least 90% less water compared to traditional fabric processes. In 2020, Wrangler saved over 7 billion liters of water, with a goal to reduce usage by 50% by 2030. The Lee brand aims for sustainable cotton and synthetic materials by 2025 and has saved over 1 billion liters of water. The initiative showcases Kontoor's commitment to sustainable practices in the denim industry.

Kontoor Brands (NYSE: KTB) reported its financial results for Q4 and fiscal year 2020, showing a revenue increase to $661 million, a 1% rise from the previous year. Key growth areas included the Wrangler U.S. wholesale and digital channels. For the full year, revenue dropped 18% to $2.10 billion, primarily due to COVID-19. Adjusted EPS for Q4 reached $1.23, up 27% year-over-year. The company ended 2020 with $248 million in cash and $0.9 billion in long-term debt. Guidance for 2021 expects low-double digit revenue growth and adjusted EPS between $3.50 and $3.60.

Wrangler® has announced the addition of top model Georgia May Jagger as the face of its Women’s Heritage Collection, launched for Fall/Winter 2020. This new campaign, titled ‘Turn Heads. Capture Hearts,’ aims to celebrate confident women. Each piece in the collection is inspired by the iconic 0936 Cowboy Cut jeans and features five styles, including the Wild West and Wanderer. The collection is available on Wrangler.com and select global retail locations. Wrangler, a brand under Kontoor Brands (NYSE: KTB), has been a leader in denim for over 70 years.

The Board of Directors at Kontoor Brands (NYSE: KTB) announced the appointment of Robert Lynch as a director, effective March 5, 2021. Lynch, the current President and CEO of Papa John’s International, brings over 20 years of leadership experience in consumer goods and quick-service restaurants. His appointment is expected to drive growth and innovation for Kontoor's iconic brands, Wrangler and Lee. Lynch will also serve on the Audit and the Talent and Compensation Committees, leveraging his proven track record in strategic change and brand growth to enhance Kontoor's market position.

Kontoor Brands, Inc. (NYSE: KTB) has announced a quarterly cash dividend of $0.40 per share, set to be paid on March 19, 2021. Shareholders of record by the end of business on March 9, 2021 will be eligible for the payment. Kontoor Brands, known for iconic brands like Wrangler and Lee, focuses on delivering high-quality apparel while promoting brand growth and long-term stakeholder value.

Kontoor Brands, Inc. (NYSE: KTB) is set to release its fourth quarter 2020 financial results on March 2, 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 results in depth. This call will be available for live streaming and will also have an archived version accessible later. Kontoor Brands specializes in lifestyle apparel under the renowned brands Wrangler and Lee, aimed at delivering quality products and driving long-term stakeholder value.

Wrangler® and Pottery Barn Teen have partnered to launch a new Wrangler x Pottery Barn Teen Collection, marking Wrangler's return to home design. The collection features textiles, furniture, and accessories inspired by Wrangler’s western heritage. Products include sheet sets, quilts, and various denim items, incorporating sustainable materials like recycled denim and water bottles. Wrangler aims to engage consumers while promoting sustainability and authentic western spirit.

Kontoor Brands (NYSE: KTB) has announced the expansion of its Wrangler brand into China, utilizing a digital-first approach through Tmall, a leading online retailer. This initiative aligns with Kontoor's strategic priority of entering new markets and underscores its commitment to accelerating brand growth. The brand's presence in China, one of the fastest-growing consumer markets, is seen as a pivotal step. Initial product offerings are live, and the company plans further marketing activations in spring 2021 to enhance brand awareness among Chinese consumers.