Kontoor Brands, the denim group based in Greensboro, North Carolina, has reiterated its financial outlook for 2022, expecting a solid increase in revenue compared to the previous year. The company anticipates a high single-digit percentage growth, reaching approximately $2.7 billion in revenue. In addition to reaffirming its full-year expectations, Kontoor Brands has also provided more detailed projections for the first half of the year.

For the first quarter of 2022, Kontoor Brands expects its revenue to either remain flat or increase by low-single digits compared to the same period last year, with a range of $650 to $660 million. The company is also projecting GAAP EPS to be between $1.15 and $1.25 for the first quarter.

Looking ahead to the second quarter, Kontoor Brands anticipates a substantial growth in revenue, ranging from $640 million to $650 million. This represents a growth rate of 30 to 32 percent compared to the second quarter of 2021. The company predicts GAAP EPS for the second quarter to be within the range of $1.25 to $1.35.

Addressing recent events impacting the European region, Kontoor Brands assured that its overall revenue should not be significantly affected. The company clarified that it does not have direct business operations in Russia or Ukraine, and any third-party relationships in these countries do not contribute significantly to its European business or overall revenue. However, Kontoor Brands will continue to closely monitor the situation.

Approximately 25 percent of Kontoor Brands’ total revenue comes from its international business. The company’s revenue in this segment is primarily concentrated in developed markets such as France, Germany, Italy, Poland, Scandinavia, Spain, and the United Kingdom.

In addition to its financial outlook, Kontoor Brands also announced its support for ongoing humanitarian efforts. The company plans to make a charitable donation through a global philanthropic organization. Moreover, Kontoor Brand’s employees in Europe have donated clothing samples to aid in relief efforts in Ukraine.

Kontoor Brands remains committed to its global operations and its purpose of fostering connections and strengthening communities. The company strongly denounces the recent acts of violence in Ukraine and emphasizes the importance of taking care of one another during these challenging times. With its resilience and vigilance, Kontoor Brands aims to navigate any potential challenges and maintain its positive trajectory within the denim industry.

Useful links:

Kontoor Brands official website
Investor Relations page