Kontoor Brands, Inc. Provides Earnings Guidance for the First Half and Full Year 2022
March 01, 2022 at 06:50 am EST
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Kontoor Brands, Inc. provided earnings guidance for the first half and full year 2022. Revenue is expected to approximate $2.7 billion, increasing at a high single digit percentage over 2021. Gross margin is expected to be consistent with adjusted gross margin of 44.6% achieved in 2021. EPS is expected to be in the range of $4.65 to $4.75.
The Company expects first half revenues to increase in the low teens range compared to the prior year.
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.