Kontoor Brands, Inc. Updates Earnings Guidance for the First Half and Fiscal Year 2024
May 02, 2024 at 04:20 pm IST
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Kontoor Brands, Inc. Updated earnings guidance for the first half and fiscal year 2024. For the year, the company expects revenue is expected to be in the range of $2.57 to $2.63 billion, reflecting a decrease of 1% to an increase of 1% compared to the prior year, consistent with the prior outlook.
The company continues to expect first half revenue to decline at a mid-single digit rate compared to the prior year, consistent with the prior outlook.
Kontoor Brands, Inc. is a global lifestyle apparel company. The Company designs, manufactures, procures, sells and licenses apparel, footwear and accessories, primarily under the brand names Wrangler and Lee. The Company's segments include Wrangler, Lee and Other. The Wrangler segment offers multiple sub-brands and collections within the Wrangler brand, including 20X, Aura from the Women at Wrangler, Cowboy Cut, Premium Patch, Riggs Workwear, Rock 47, Rustler, Wrangler Retro, Wrangler Rugged Wear and Wrangler All Terrain Gear. The Lee segment includes a range of jeans, pants, shirts, shorts and jackets for adults and children. The Lee brand offers multiple sub-brands and collections, including Lee101, Riders by Lee Indigo and Chic by Lee. The Other segment includes sales and licensing of Rock & Republic, other company-owned brands and private label apparel. Its distribution channels include United States Wholesale, Non-United States Wholesale and direct-to-consumer.