Welcome to our dedicated page for Kontoor Brands news (Ticker: KTB), a resource for investors and traders seeking the latest updates and insights on Kontoor Brands stock.
Kontoor Brands, Inc. reports developments for a lifestyle apparel portfolio built around Wrangler, Lee and Helly Hansen. Company news centers on operating and financial results, regular cash dividends, capital-structure updates and governance matters, as well as product collaborations and capsule collections that extend its denim, outdoor, workwear, footwear and accessory categories.
Updates also cover leadership responsibilities across finance, operations, brand management and investor relations. The company sells through wholesale and direct-to-consumer channels in the United States and international regions, and its news reflects the commercial activity of its Wrangler, Lee and Helly Hansen segments.
Wrangler has unveiled a limited edition collection called Wrangler Reissue, celebrating its 75-year heritage. The collection showcases reissued designs inspired by iconic pieces from the brand’s history. Highlights include the Selvedge Jacket, a replica from the 1960s, made from American-made selvedge denim, and the Cowboy Cut Comic Book Jean, inspired by 1950s comic books. Prices range from $79 to $265. The collection is a significant part of Wrangler’s anniversary festivities, reinforcing its commitment to quality and design.
Wrangler® announced the digital auction of a unique belt buckle, handmade by Montana Silversmiths, celebrating its diamond anniversary. Priced over $40,000, all proceeds will benefit Western Sports Foundation and Lead Changes, both dedicated to youth engagement in western sports. Bidding starts at $7,500 and concludes on December 30, 2022. The auction is part of Wrangler's commitment to preserving the cowboy spirit, with funds aiding in-person training events for young people.
Kontoor Brands (KTB) reported Q3 2022 revenue of $607 million, down 7% from Q3 2021, attributed to U.S. retailer inventory rebalancing and COVID lockdowns in China. Adjusted EPS for the quarter was $1.11, slightly up from $1.07 year-over-year. The company revised its 2022 revenue growth forecast to 4%, down from 6%. Despite challenges, KTB noted strong sell-through for its brands and a dividend increase of 4%. Gross margin decreased to 43.5%, impacted by inflation and higher costs. KTB expects Q4 revenue acceleration due to improved inventory levels and ongoing digital growth.
Lee launches a new collection with The Brooklyn Circus, inspired by Black cowboy heritage. Available in the U.S. and Europe, the capsule combines archival designs with contemporary styles. The collection features items such as the Cowboy Jacket, Unisex Varsity Jacket, and Cowboy Jeans, priced between $110-$1,200. This collaboration is a testament to Black cultural influence and craftsmanship in fashion.
Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.48 per share, marking an increase of $0.02 or 4%. This dividend will be payable on December 19, 2022, to shareholders of record by the close of business on December 9, 2022. The Board's decision reflects confidence in the company's robust cash generation, enabling ongoing investments in strategic growth initiatives while ensuring solid cash returns to shareholders.
Lee, the iconic American denim brand, has launched its 2022 campaign under the LeeOriginals platform, featuring renowned photographer Mark Seliger and Nashville songwriter Sam Tinnesz. This campaign aims to celebrate originality, highlighting individuals who redefine their paths. The digital campaign is promoted across social media, while targeted out-of-home advertising will occur in creative neighborhoods in NYC, LA, Chicago, and Atlanta. With a history spanning nearly 130 years, Lee continues to innovate in denim and casual apparel.
Kontoor Brands, Inc. (NYSE: KTB) is set to announce its third quarter 2022 financial results on November 3, 2022, at approximately 6:50 a.m. ET. Following the announcement, management will host a conference call at 8:30 a.m. ET to review the financial results. The call will be broadcast live and can be accessed via their investor relations website. Kontoor Brands operates with a focus on high-quality apparel under renowned brands like Wrangler and Lee and aims to deliver long-term value to its stakeholders.
Kotnor Brands, Inc. (NYSE: KTB) has appointed Ezio Garciamendez as Senior Vice President and Chief Supply Chain Officer, effective November 1, 2022. Garciamendez will oversee all supply chain aspects, including operations, planning, and logistics, reporting to Tom Waldron, Executive Vice President and Co-Chief Operating Officer. With over 20 years in consumer-packaged goods, his prior experience includes Global Operations SVP at Melaleuca and roles at Procter and Gamble. This leadership change aims to enhance Kontoor's operational excellence and competitive advantage in supply chain management.
Wrangler announces an exclusive collection in collaboration with Leon Bridges to celebrate its 75th anniversary. The Leon Bridges x Wrangler Collection features 29 pieces inspired by Wrangler's archives and Bridges' Texas roots. Items include men's and women's denim jeans, jackets, and unique designs incorporating Bridges' initials. Prices range from $60-159. The launch coincided with a private event at New York Fashion Week, where a unique NFT was auctioned, enhancing brand engagement.
Wrangler has launched a new collegiate apparel collection in partnership with The University of Texas, celebrating its 75th anniversary. The collection includes collaboration with current and former athletes such as Quinn Ewers and features a range of customized gear for game days. The project aims to resonate with college sports enthusiasm, and additional partnerships will expand to 31 institutions by September. The collection will be available online and at major retailers like Dick’s Sporting Goods and Kohl’s.