Kontoor Brands Inc Stock Price, News & Analysis

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 The call will be accessible live on the company's investor relations website, with an archived version available afterward.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.

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.