Kontoor reports flat growth
The maker of Wrangler and Lee jeans, and new owner of Norwegian outdoor brand Helly Hansen, reported its full year and fourth quarter financial results for 2024. In the fourth quarter ending December 2024, the group’s global sales increased 4% compared to the same quarter in 2023, driven by 9% growth in direct-to-consumer sales. US revenues were up 6% at $569 million, while international sales fell 1% at $130 million.
Sales for the company based in Greensboro, North Carolina, were flat at $2.61 billion over the full year for 2024. Sales increased slightly in the US, reaching $2.09 billion (+1%) while international revenues, at $521 million, were down 5%. The company ended the fiscal year with inventory down 22% compared to 2023.
In 2024, the Wrangler brand brought in global revenues of $1.81 billion, up 3% compared to 2023. Over the same period, Lee’s sales dipped by 6% at $791 million.
Image courtesy of Kontoor Brands
