KTB News & Events

On an adjusted basis, EPS from continuing operations was $1.06, including a $0.26 contribution from Helly Hansen. Adjusted EPS includes $0.11 of overhead and other expenses that were previously allocated to the Lee business. Reports Q1 revenue $808M, consensus $784.8M. "Our strong first quarter results reflect the power of our operating model combined with strong execution," said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Directors. "Wrangler drove another quarter of broad-based growth and market share gains, and Helly Hansen delivered better-than-expected revenue and profitability. Our decision to divest Lee enables sharper focus on the opportunities with greatest potential to maximize shareholder returns as we align the Kontoor brand portfolio to a higher growth profile." "Our updated outlook reflects better than expected first quarter results and improving visibility for Wrangler and Helly Hansen," added Joe Alkire, Kontoor Brands' Executive Vice President, Chief Financial Officer and Global Head of Operations. "Our planned divestiture of the Lee business is in an advanced state and has attracted interest from multiple parties. We are confident in our ability to successfully complete a transaction this year, resulting in significantly more capital allocation optionality and accelerated growth as we drive enhanced shareholder returns into 2027 and beyond."

Consensus $6.49. Raises Fy26 revenue view to $3.41B-$3.46B from $3.40B-$3.45B,, consensus $3.44B. The Company expects the divestiture of Lee to be immaterial to earnings per share over a 12-to-18-month period. The earnings contribution of the Lee business will be offset through strong capital deployment and mitigation of overhead and other expenses, through restructuring and other mitigating cost actions to offset the costs that were previously allocated to the Lee business.

Kontoor Brands board approves new $750M share buyback

Wolverine Worldwide's (WWW) Chaco and Kontoor Brands' (KTB) Wrangler have joined forces, creating an eight-piece unisex collection. "By pairing our deep-rooted Western heritage with Chaco's spirit of adventure, we've created a collection that is comfortable in every landscape," says Holly Wheeler, Vice President of Global Brand Marketing at Kontoor Brands. "This collaboration celebrates the shared values of durability and authenticity that both our brands are known for, offering our consumers a cohesive, head-to-toe uniform designed for a life lived fully outdoors."