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.
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Kontoor Brands (KTB) has reaffirmed its 2022 outlook ahead of the UBS Consumer Conference on March 9, 2022. The company expects 2022 revenue to be approximately $2.7 billion, an increase of high single digits compared to 2021. For the first half of the year, Q1 revenue is projected between $650 million to $660 million, while Q2 is expected to range from $640 million to $650 million, reflecting a significant growth of 30-32% year-over-year. Kontoor's business in Russia and Ukraine remains minimal and non-material to overall revenue.
Kontoor Brands, Inc. (NYSE: KTB) reported Q4 2021 revenue of $681 million, a 3% increase from Q4 2020, with FY revenue of $2.48 billion, up 18% year-over-year. Q4 EPS was $0.75, with adjusted EPS at $0.88. For 2022, revenue is projected at about $2.7 billion, reflecting high single-digit growth compared to 2021. The company highlights its strategic investments in digital and international markets, despite challenges from VF Outlet closures. The gross margin increased to 42.8%, although adjusted gross margin saw a slight decrease. The company returned $171 million to shareholders in 2021 through dividends and share repurchases.
Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.46 per share, payable on March 18, 2022, to shareholders of record by the end of business on March 8, 2022. This decision reflects the company's commitment to delivering shareholder value. Kontoor Brands is a global lifestyle apparel company known for its iconic brands Wrangler® and Lee®.
Wrangler is celebrating its 75th Anniversary by launching a partnership with Grammy-winner Leon Bridges, featuring NFT drops that merge fashion, music, and art. The first drop includes 75 digitally animated Icon-Tier NFTs offering access to exclusive events. The auction will conclude soon, with NFTs tradeable on secondary marketplaces. In September, Wrangler will unveil a unique Legendary-Tier NFT that includes a custom denim outfit and exclusive content from Bridges, showcasing the brand's foray into the metaverse. The celebration includes additional collaborations throughout the year.
Kontoor Brands, Inc. (NYSE: KTB) will release its fourth quarter 2021 financial results on March 1, 2022, at approximately 6:50 a.m. ET. Following this, a conference call will be held at 8:30 a.m. ET to discuss the results. The call will be available for live broadcast and can also be accessed later via kontoorbrands.com/investors.
Kontoor Brands is known for its iconic brands, Wrangler and Lee, and focuses on delivering high-quality products combined with a purpose-driven organization.
Kontoor Brands, Inc. (NYSE: KTB) has appointed Ashley Goldsmith, Chief People Officer of Workday, Inc., to its Board of Directors, effective immediately. This strategic decision is supported by President and CEO Scott Baxter, highlighting Goldsmith's extensive experience in human resources and talent development. Goldsmith will serve on the Talent and Compensation and Nominating and Governance Committees, enhancing Kontoor's board with her insights as the company enters a new growth phase.
Wrangler and Roark have launched the limited-edition 'Out of Range' collection, combining western heritage with adventure-ready men’s apparel. The collection features high-quality materials such as denim, waxed canvas, and organic cotton, available from $65 to $395. Celebrating the spirit of the American West, this collaboration showcases the brands' commitment to durable and stylish outdoor wear. The launch coincides with Roark's recent exploration of the Continental Divide, reinforcing their adventurous ethos.
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Kotoor Brands, Inc. (NYSE: KTB) announces the departure of Juliana Chugg from its Board of Directors, effective November 30. Chugg, a pivotal member since the company's inception in 2019, plans to focus on other business obligations. She has significantly contributed to establishing the company's foundation and growth strategy. Scott Baxter, Board Chair and CEO, acknowledged her vital role during the transition from Horizon 1 to Horizon 2, expressing gratitude for her service. Kontoor aims to leverage its strong foundation for future growth.