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.
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Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Kontoor Brands (NYSEKTB) and its peers.
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.
Let’s dig into the relative performance of Figs (NYSEFIGS) and its peers as we unravel the now-completed Q2 apparel, accessories and luxury goods earnings season.
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The LSEG U.S. Retail and Restaurant Q2 earnings index, which tracks changes in the growth rate of earnings within the sector, is expected to show a 12.7% growth over last year’s levels.
