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.
Kontoor Brands, Inc. (NYSE: KTB) plans to announce its first quarter 2022 financial results on May 5, 2022, at 6:50 a.m. ET. Following the release, management will hold a conference call at 8:30 a.m. ET to discuss the results. The call will be accessible live and archived on the company's investor relations website. Kontoor Brands is known for its iconic brands, Wrangler and Lee, and focuses on delivering quality products while driving growth and long-term value for stakeholders.
Wrangler has launched the Wrangler Reborn™ collection, featuring vintage denim from the 1950s to 2000s, coinciding with the brand's 75th anniversary. This curated collection includes iconic styles like the 13MWZ Cowboy Cut® and Cowboy Cut® 0936, showcasing the brand's commitment to quality and sustainability. The collection supports WeCare Wrangler™, promoting circularity in fashion by reselling older denim. Wrangler aims to connect with younger audiences and celebrate their heritage through timeless, durable pieces.
Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, has announced key executive leadership changes. Chris Waldeck has been appointed as Co-Chief Operating Officer and will oversee international markets and Direct to Consumer channels for the Lee brand. Similarly, Tom Waldron has been named Co-Chief Operating Officer for the Wrangler brand, focusing on operations, product development, and innovation. CEO Scott Baxter highlighted the need for alignment and strategic focus during the company's transition towards growth.
Wrangler® has announced the expansion of its Rooted Collection® for Spring '22, featuring jeans and shirts made from U.S.-grown sustainable cotton.
New offerings include men’s and women’s jeans and state-specific jeans for Alabama, California, North Carolina, and Texas.
This initiative aims to honor local farmers, promote sustainable practices, and enhance supply chain transparency.
Wrangler targets 100% sustainable cotton usage by 2025 through its WeCare Wrangler™ platform, ensuring each cotton source is traceable.
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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.