Kontoor sales dip on inventory woes and Europe, raises full-year earnings outlook on improved margins
Kontoor Brands on Thursday said revenue for the first quarter fell 5 percent to $631 million, hit by retailer inventory management actions in the U.S., a decrease in seasonal product sales, and lower international sales, particularly in Europe. Wrangler U.S. revenue fell 5 percent $492 million, with U.S. wholesale revenue falling 6 percent. Growth in owned [...]read moreKontoor sales dip on inventory woes and Europe, raises full-year earnings outlook on improved margins