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) has declared a quarterly cash dividend of $0.46 per share, representing a 15% increase from the previous amount. The dividend is set to be paid on December 20, 2021, to shareholders recorded by December 10, 2021. This decision highlights the company's commitment to returning value to shareholders while reflecting its strong cash generation and improved operational fundamentals. CEO Scott Baxter emphasized the importance of this increase as a part of the company's long-term strategic growth plans.
Kontoor Brands, Inc. (NYSE: KTB) will release its third quarter 2021 financial results on November 4, 2021, at approximately 6:50 a.m. ET. Following the results announcement, management will host a conference call at 8:30 a.m. ET to discuss the findings. The call will be accessible live via kontoorbrands.com/investors, with an archived version available later.
Lee, the iconic American denim brand, has announced its latest advertising campaign, LeeOriginals, debuting on October 4. The campaign features rising stars, including Quannah Chasinghorse and Levi Dylan, under the creative direction of renowned photographer Mark Seliger. Emphasizing optimism and authenticity, the campaign showcases the unique stories of its cast, celebrating creativity and individuality. The digital-first approach targets key creative neighborhoods in New York City and will be displayed across various streaming and social media platforms.
Kontoor Brands, Inc. (NYSE: KTB) has appointed Tammy Heller as Chief Human Resources Officer, effective September 29, 2021. Heller will oversee key HR functions and drive the company's people strategy as a member of the Executive Leadership Team. She succeeds Scott Shoener, who will retire at the end of December 2021 after over 35 years in the HR field. Heller brings substantial experience from previous roles at Perspecta and Capital One.
Wrangler, a leader in jeanswear, has announced a partnership with Infinited Fiber Company to introduce Infinna™, a regenerated fiber made from textile waste, into its Fall 2021 denim collection. This sustainable line features innovations like Indigood™, which reduces wastewater by over 99%, and e-flow technology for lower environmental impact. This partnership represents a commitment to circularity and sustainability in the apparel industry, with Wrangler focusing on reducing water and chemical use while maintaining product quality.
Wrangler has launched its fall/winter 2021 advertising campaign, “For the Ride of Life,” designed by Emmy-nominated Heidi Bivens. The campaign highlights resilience and optimism, featuring a diverse range of individuals pursuing their passions. It premiered the week of September 13 through commercials on cable and network TV. This initiative aligns with Wrangler's strategic growth and celebrates its 75th anniversary in 2022, merging western heritage with modern consumer trends.
The Board of Directors of Kontoor Brands (NYSE: KTB) has elected Scott Baxter as Board Chair, effective immediately, in addition to his role as CEO. Baxter succeeds Robert Shearer, who will remain on the Board as Lead Independent Director. Baxter, with over 30 years of experience in retail and operations, was appointed CEO in August 2018 following the separation of VF Corporation's Jeanswear division. The Board expresses confidence in Baxter’s leadership as the company focuses on its Horizon Two growth strategy.
Kontoor Brands (KTB) reported strong Q2 2021 results with revenue of $491 million, up 41% year-over-year. The growth was driven by digital sales, U.S. wholesale, and international markets. Adjusted EPS rose to $0.70 from a loss of $0.22, while gross margin improved by 760 basis points to 46.1%. The company raised its 2021 revenue guidance to $2.39-$2.42 billion. A $200 million share repurchase program was also announced, reflecting strong cash flow. However, revenue is still 19% below Q2 2019 levels due to past strategic actions and COVID-19 impacts.
Billabong and Wrangler have launched their first collaboration, the Billabong x Wrangler Collection. This collection merges vintage surf aesthetics with western influences, debuting in time for the back-to-school season. Featuring sustainable materials like recycled P.E.T. and organic cotton, the launch includes over 40 styles for men and women, embodying the spirit of the ’70s. Billabong's historical ties to Wrangler are highlighted, showcasing a unique blend of both cultures.
Kontoor Brands, Inc. (NYSE: KTB) has appointed Mame Annan-Brown as Executive Vice President of Global Communications and Public Affairs, effective August 11, 2021. Annan-Brown brings over two decades of experience in corporate communications, previously serving at the International Finance Corporation and JPMorgan Chase. She will lead global corporate communications, media relations, and government affairs, aiming to enhance Kontoor's industry positioning amidst complex policy changes. This strategic addition is expected to support the company's growth and stakeholder engagement.