Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.25.1
REVENUES
 3 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenue
The following tables present revenues disaggregated by channel and geography. Revenues from licensing arrangements are included within the U.S. or Non-U.S. Wholesale channels, based on the respective region where the licensee sells the product. Direct-to-Consumer revenues include sales from company-operated Wrangler® and Lee® branded full-price and outlet stores, online and international concession arrangements.
Other includes sales and licensing of Chic®, Rock & Republic®, other company-owned brands and private label apparel.
Three Months Ended March 2025
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 335,504  $ 108,764  $ 2,609  $ 446,877 
Non-U.S. Wholesale 45,225  53,834  —  99,059 
Direct-to-Consumer 39,517  37,302  146  76,965 
Total $ 420,246  $ 199,900  $ 2,755  $ 622,901 
Geographic revenues
U.S. $ 368,302  $ 122,303  $ 2,755  $ 493,360 
International 51,944  77,597  —  129,541 
Total $ 420,246  $ 199,900  $ 2,755  $ 622,901 
Three Months Ended March 2024
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 328,725  $ 119,147  $ 2,092  $ 449,964 
Non-U.S. Wholesale 44,438  63,618  —  108,056 
Direct-to-Consumer 36,331  36,678  173  73,182 
Total $ 409,494  $ 219,443  $ 2,265  $ 631,202 
Geographic revenues
U.S. $ 357,463  $ 132,283  $ 2,265  $ 492,011 
International 52,031  87,160  —  139,191 
Total $ 409,494  $ 219,443  $ 2,265  $ 631,202 
Contract Balances and Performance Obligations
The following table presents information about contract balances recorded in the Company's balance sheets:
(In thousands) March 2025 December 2024 March 2024
Accounts receivable, net $ 208,261  $ 243,660  $ 239,632 
Contract assets (a)
7,899  16,576  6,311 
Contract liabilities (b)
1,632  1,757  1,522 
(a) Included within "prepaid expenses and other current assets" in the Company's balance sheets.
(b) Included within "accrued and other current liabilities" in the Company's balance sheets.
For the three months ended March 2025 and March 2024, no significant revenue was recognized that was included in contract liabilities as of December 2024 and December 2023, respectively. For the three months ended March 2025, no significant revenue was recognized from performance obligations satisfied, or partially satisfied, in prior periods. As of March 2025, the Company has contractual rights under its licensing agreements to receive $83.0 million of fixed consideration related to the future minimum guarantees through December 2030.