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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 (NYSE: KTB) has scheduled an investor meeting on May 24, 2021, at 2:30 p.m. ET. The virtual event will feature President and CEO Scott Baxter and CFO Rustin Welton, who will discuss the company's strategies for sustainable, long-term growth. A Q&A session will follow the presentations, and the meeting will last approximately two and a half hours. For those unable to attend live, an archived version will be accessible at kontoorbrands.com/investors shortly after the event.
Kontoor Brands, Inc. (NYSE: KTB) has announced the appointment of Mark Schiller to its Board of Directors, effective immediately. Schiller, who is the President and CEO of The Hain Celestial Group, brings extensive experience in leading global consumer brands, having previously held significant positions at Pinnacle Foods and PepsiCo. He will also serve on the Audit Committee. The Board expresses confidence in his strategic leadership and industry knowledge as valuable assets to Kontoor, which manages the iconic Wrangler and Lee brands.
Kontoor Brands (KTB) reported strong first-quarter results for 2021, with revenue reaching $652 million, a 29% increase year-over-year. Digital sales surged, with own.com up 70% and digital wholesale up 132%. Gross margin improved to 46.1%, an 830 basis point year-over-year increase. Adjusted EPS was $1.43, compared to $0.27 a year prior. The company raised its 2021 guidance, expecting revenue growth in the low-teens range. A quarterly dividend of $0.40 per share was declared, payable on June 18, 2021. Kontoor emphasized ongoing investments in demand creation and infrastructure.
Kontoor Brands (NYSE: KTB) has expanded its collaboration with Panda Biotech, focusing on sustainable hemp textile production in the U.S. This partnership aims to enhance traceability and scalability of cottonized hemp, promoting eco-friendly apparel. Senior Director Dhruv Agarwal highlights the synergy of hemp and cotton, while Panda Biotech's President Dixie Carter notes their shared commitment to responsible, renewable practices. Kontoor aims to incorporate U.S. hemp into its denim by 2023, leveraging its scale for sustainable fashion.
Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.40 per share, payable on June 18, 2021, to shareholders of record by the end of June 8, 2021. The company, known for its iconic brands Wrangler and Lee, focuses on delivering high-quality, fashionable apparel while driving long-term stakeholder value. This dividend announcement demonstrates Kontoor's commitment to returning value to its shareholders.
Kontoor Brands, Inc. (NYSE: KTB) announces the appointment of Karen Smith as Executive Vice President of Supply Chain, effective May 1, 2021. Smith, with extensive background in supply chain management, will oversee global operations, manufacturing, sourcing, and more. She succeeds Randy Fortenberry, who retires after 30 years. Kontoor emphasizes a responsible approach to succession planning, showcasing its commitment to leadership continuity. This transition is expected to bolster the company's supply chain strategy, critical for its brands, Wrangler® and Lee®.
Kontoor Brands, Inc. (NYSE: KTB) will release its Q1 2021 financial results on May 6, 2021, at 6:50 a.m. ET. Following the announcement, management will conduct a conference call at 8:30 a.m. ET to discuss the results. The call will be accessible live on the company's investor relations website, with an archived version available afterward. Kontoor Brands is known for its iconic Wrangler® and Lee® brands, focusing on delivering high-quality apparel while driving growth and value for stakeholders.
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.
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