Kontoor sets stage for growth
International revenue was $163 million, a 30% increase over the same period in the prior year driven by the China business, which increased 109%.
First quarter revenue benefited from a shift in the timing of shipments from the second quarter to the first quarter.
Wrangler revenue increased a third to $399 million over the same period in the prior year, and was 10% higher than Q1 2019.
Lee revenue increased to $250 million, 37% higher than the same period last year, and 4% higher than 2019.
Other global revenue declined 85% compared to the same period in the prior year to $3 million driven by impacts related to VF Outlet stores, as well as planned reductions in Rock & Republic.
Kontoor CEO Scott Baxter said: “We started 2021 with solid momentum, as our first quarter results came in above our expectations. The strong performance was broad-based, as evidenced by improving growth across regions, channels and categories.
“The stage is set for us to pivot to growth. I want to thank our teams around the world for their incredible efforts over the last few years to position Kontoor for success. We are in the very early days of our journey and remain determined to deliver on the tremendous opportunities ahead.”
Image: Model Georgia May Jagger is the face of Wrangler’s Women’s Heritage Collection
