Kontoor ‘takes necessary steps’ as Q3 sales dip
Wrangler sales fell 6% to $347 million and Lee decreased 8% to $214 million.
International revenue was $128 million, down 30%, but the Europe and China businesses experienced a gradual recovery during the quarter.
Group CEO Scott Baxter said: “Investments in our brands, people and partnerships drove significant sequential top line improvement, while restructuring, quality-of-sales initiatives and accretive mix shifts supported solid gross margin increases.
“Our strategic actions delivered strong results in the quarter and are enhancing the Kontoor operating model focused on more profitable and sustainable long-term growth.
“Our accomplishments during the third quarter are a direct reflection of our colleagues’ incredible efforts, and I want to thank them for their tremendous contributions throughout these dynamic times.”
The group added that it “continues to take the necessary, proactive steps to accommodate a prolonged covid-19 operating environment”.
