Progress remains stalled at Kontoor Brands
Apparel group Kontoor Brands, owner of denim companies Lee and Wrangler, has reported little change to its net revenues for the three months ended July 1.
Revenue for the second quarter remained flat, bringing in $616 million versus $613.6 million a year previous. Kontoor reported a year-on-year decline of 1% over the first six months in total, registering $1.28 billion in comparison to last year’s $1.29 billion.
Group inventory by the close of the second quarter amounted to $627 million, up 17%, representing an improvement on the preceding quarter’s then inventory levels (+52%).
Last month, Kontoor promoted Pete Kidd to the role of executive vice-president and chief human resources officer. Mr Kidd first came onboard as senior VP of global total rewards.
