Bulletin
Investor Alert

Market Pulse Archives

March 2, 2021, 9:00 a.m. EST

Shares of Wrangler jeans parent jump after upbeat guidance

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Kontoor Brands Inc. (KTB)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tonya Garcia

Kontoor Brands Inc. /zigman2/quotes/212177228/composite KTB +1.44% stock jumped nearly 5% in Tuesday premarket trading after the denim company reported fourth-quarter earnings that beat expectations and gave upbeat 2021 guidance. Net income totaled $43.1 million, or 74 cents per share, up from $28.8 million, or 50 cents per share, last year. Adjusted EPS of $1.23 beat the FactSet consensus for 96 cents. Revenue of $660.9 million was up from $652.6 million and ahead of the FactSet consensus for $643.0 million. Digital sales from the company's own sites were up 50%, and sales from digital wholesale sites were up 75%. Wrangler global revenue was up 7% to $448 million, and Lee global revenue was $204 million, up 1%. For 2021, Kontoor expects revenue to increase in the low-double-digit range, and adjusted EPS in the range of $3.50 to $3.60. The FactSet consensus is for revenue of $2.414 billion, suggesting 15.1% growth, and EPS of $3.28. Kontoor stock has rallied 27.4% over the past year, outpacing the benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.92% , which is up 26.3% for the period.

/zigman2/quotes/212177228/composite
US : U.S.: NYSE
$ 64.97
+0.92 +1.44%
Volume: 462,420
April 22, 2021 4:00p
P/E Ratio
55.97
Dividend Yield
2.46%
Market Cap
$3.68 billion
Rev. per Employee
$149,872
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,134.98
-38.44 -0.92%
Volume: 2.39B
April 22, 2021 5:32p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.