Kontoor Brands Inc is a global apparel company that specializes in designing, marketing, and distributing a wide range of clothing and accessories
Known for its iconic denim brands, the company focuses on delivering high-quality products that cater to various consumer preferences and lifestyles. Kontoor Brands operates through a network of retail and wholesale channels, ensuring a strong presence both online and in physical stores. By prioritizing innovation and sustainability, the company aims to enhance its brand portfolio while meeting the evolving demands of the fashion industry.
Shares of clothing company Kontoor Brands (NYSEKTB)
fell 15.2% in the morning session after the company reported dissapointing fourth-quarter earnings as full-year revenue and EPS guidance were missed. International revenue dipped slightly, dragged down by weaker wholesale performance in Asia and the Americas, offsetting gains in digital sales.
Clothing company Kontoor Brands (NYSEKTB) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 4.4% year on year to $699.3 million. On the other hand, the company’s full-year revenue guidance of $2.66 billion at the midpoint came in 0.7% below analysts’ estimates. Its non-GAAP profit of $1.38 per share was 2.2% above analysts’ consensus estimates.
Kontoor Brands plans acquisition of outdoor and workwear brand Helly Hansen for approximately $900 million. The deal is expected to boost Kontoor's revenue and profit, with projections of over $680 million in revenue and $80 million in adjusted EBITDA for 2025.
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Kontoor Brands has had an impressive run over the past six months as its shares have beaten the S&P 500 by 15.4%. The stock now trades at $92.02, marking a 28.7% gain. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move.
Shares of clothing company Kontoor Brands (NYSEKTB)
jumped 16% in the morning session after the company reported a "beat and raise quarter." Third-quarter results blew past analysts' EBITDA and EPS expectations. Looking ahead, it raised its full-year EPS outlook. On the other hand, its full-year revenue guidance was underwhelming. Zooming out, we think this was a decent quarter featuring some areas of strength but also some blemishes.
Clothing company Kontoor Brands (NYSEKTB) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 2.4% year on year to $670.2 million. The company expects the full year’s revenue to be around $2.6 billion, close to analysts’ estimates. Its non-GAAP profit of $1.37 per share was also 8.6% above analysts’ consensus estimates.
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