“We are thrilled to welcome Erinn Murphy to Kontoor Brands,” said Executive Vice President, Chief Financial Officer & Global Head of Operations, Joe Alkire. “Having led investor relations and corporate strategy from within a high-growth consumer brand and nearly twenty years of experience covering global lifestyle brands as a respected senior equity analyst, she understands what drives long-term value creation from every angle. Her perspective will expand the operational and strategic depth of the Helly Hansen leadership team as we focus on accelerating growth and expanding the brand's global reach, while also strengthening how Kontoor engages with the investment community.”

Murphy joins Kontoor from Crocs, Inc., a global leader in innovative casual footwear, where she served as Senior Vice President, Investor Relations and Corporate Strategy. Prior to that, she served as Managing Director of Consumer Equity Capital Markets for leading investment bank, Piper Sandler. She was recently appointed as a member of the board of directors for Revolve Group, Inc. (NYSE: RVLV).

Murphy's appointment coincides with an expanded role for Michael Karapetian, who will serve as Vice President, Global Brand & Operations Finance and Corporate Investor Relations, with responsibility for all aspects of global brand and supply chain finance and corporate investor relations. Karapetian will return from his international assignment at Helly Hansen in the third quarter of 2026 to allow for a transition period.

About Kontoor Brands

Kontoor Brands, Inc. (NYSE: KTB) is a portfolio of three of the world’s most iconic lifestyle, outdoor and workwear brands: Wrangler^®, Lee^® and Helly Hansen^®. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information about Kontoor Brands, please visit www.KontoorBrands.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260409345852/en/

Investors:
Michael Karapetian, (336) 332-4263
Vice President, Corporate Development, Strategy, and Investor Relations
Michael.Karapetian@kontoorbrands.com

or

Media:
Julia Burge, (336) 332-5122
Senior Director, Corporate Communications
Julia.Burge@kontoorbrands.com

Source: Kontoor Brands, Inc.

“Joe has been my strategic partner since the early stages of the acquisition, leveraging our collective experience in the outdoor category to shape the role Helly Hansen will play in Kontoor's next phase of growth," said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Directors. "There is no one better positioned to guide the Helly Hansen brand forward as we focus on creating broad-based momentum, positioning the brand to deliver strong revenue and profit growth over time.”

“Under Børre Hegbom's leadership as SVP and Global Head of Helly Hansen, the team has built tremendous momentum,” said Joseph Alkire, Chief Financial Officer and Global Head of Operations, Kontoor Brands. “I look forward to partnering closely with him and the entire team to ensure the brand has the resources, operational support and strategic focus it needs to accelerate growth and profitability. Together, we are focused on expanding our reach and leadership position in the global outdoor and workwear categories.”

About Kontoor Brands

Kontoor Brands, Inc. (NYSE: KTB) is a portfolio of three of the world’s most iconic lifestyle, outdoor and workwear brands: Wrangler^®, Lee^® and Helly Hansen^®. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information about Kontoor Brands, please visit www.KontoorBrands.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260408757312/en/

Investors:
Michael Karapetian, (336) 332-4263
Vice President, Corporate Development, Strategy, and Investor Relations
Michael.Karapetian@kontoorbrands.com

or

Media:
Julia Burge, (336) 332-5122
Senior Director, Corporate Communications
Julia.Burge@kontoorbrands.com

Source: Kontoor Brands, Inc.

GREENSBORO, N.C.--(BUSINESS WIRE)-- Two icons of American style have teamed up to create a limited-edition collaboration built on Dr. Scholl’s signature footwear styles and Wrangler’s Western heritage. Launching on March 24, the capsule features five classic Dr. Scholl’s Shoes silhouettes, including their iconic Original Sandal and the viral Time-Off Max Sneaker, in a variety of fresh new Wrangler-inspired colorways and prints and one denim leather trim jacket with signature ‘W’ stitching.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324397705/en/

Two icons of American style have teamed up to create a limited-edition collaboration built on Dr. Scholl's signature footwear styles and Wrangler's Western heritage.

As Year of the Horse kicks off and just in time for festival season, these two heritage labels (Dr. Scholl's Shoes, a brand in the Caleres (NYSE: CAL) portfolio, was established in 1924 and Wrangler in 1947) have co-created a capsule defined by a nostalgic Americana aesthetic designed to deliver both standout Western style and all-day comfort.

"Dr. Scholl’s and Wrangler are two American heritage brands rooted in comfort and freedom of expression,” said Katie Moore, vice president of design for Dr. Scholl’s Shoes. “This collab is the perfect combination of the iconic comfort Dr. Scholl’s is known for with Wrangler’s signature Western vibes. Featuring everything from nostalgic wood-soled sandals and clogs to fresh takes on the viral Time Off sneaker, these styles perfectly capture what’s trending in fashion right now. Special touches like Western-inspired metallic buckles and rivets, cow-printed calf hair, perforated leathers and Wrangler denim fabrics make this a collab you can’t miss.”

"Nostalgic footwear is having a massive moment in fashion right now, and Dr. Scholl's is at the very center of that revival," said Holly Wheeler, vice president of global brand marketing at Kontoor Brands. "When you picture the quintessential summer uniform, it’s a pair of our classic Wrangler denim cut-off shorts styled effortlessly with the Dr. Scholl's Original Sandal. This partnership makes perfect sense right now because we're uniting two authentic heritage staples to create a head-to-toe look that feels deeply familiar, yet incredibly relevant for today's consumers."

This collaboration is designed for those looking to channel their inner cowgirl without sacrificing ease and wearability. Fans of both brands can step into the season with the following styles:

• Original Wrangler: A true American icon since 1959, the Original Sandal reimagined the Wrangler way with bronzed metallic hardware and a standout leather, calf hair or denim strap.
• Original Rodeo: Retro wooden platform sandals that marry Wrangler’s Western vibes with Dr. Scholl’s Shoes’ iconic comfort, finished with signature bronzed hardware and available in white leather or calf hair
• Original Ranch: Vintage-inspired wood clogs with Wrangler’s must-have styling, featuring soft suede and leather uppers with charming eyelet cutouts.
• Time Off Max: Viral comfort gets a Wrangler twist in a platform version of social media’s favorite Time Off sneaker, designed with white and light blue denim uppers.
• So Wrangler: Western-style slide sandals with iconic bronze buckles and soft white or black denim.
• Denim Leather Trim Jacket: Pull your look together in this expertly crafted Wrangler denim jacket with soft leather trim, signature “W” stitching and bronzed hardware to match your new favorite shoes.

The limited-edition Dr. Scholl’s x Wrangler collection will be available online at Wrangler.com and DrSchollsShoes.com. Prices for the shoes will range from $80 to $200, and the denim jacket will retail for $149.99 (only available on Wrangler.com).

About Wrangler®

Wrangler®, of Kontoor Brands (NYSE: KTB), has been an icon in authentic American style for 75 years. With a rich legacy rooted in the Western lifestyle, Wrangler is committed to offering superior quality and timeless design. Its collections for men, women, and children look and feel great, inspiring all those who wear them to be strong and ready for everyday life. Wrangler is available in retail stores worldwide, including flagship stores in Fort Worth and Greensboro, department stores, mass-market retailers, specialty shops, top western outfitters and online. For more information, visit Wrangler.com.

About Dr. Scholl‘s Shoes

Dr. Scholl’s Shoes, a brand in the Caleres portfolio, is an American heritage brand proudly rooted in comfort and individuality starting with our founder, Dr. William Scholl. A comfort revolutionary, Scholl changed the shoe game forever, opening the first Foot Comfort Shop in 1924 and transforming the face of fashion in the ‘60s with the Original Wooden Exercise Sandal that lives on today. At Dr. Scholl’s, we’re dedicated to crafting iconic, versatile shoes where quality and comfort always come first.

About Caleres

Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Stuart Weitzman, Allen Edmonds, Naturalizer, Vionic and more. Our products are available virtually everywhere - in the more than 1,000 retail stores we operate, in hundreds of major department and specialty stores, on our branded e-commerce sites and on many additional third-party retail platforms. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is nearly 150 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great… feet first. Visit caleres.com to learn more about us.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260324397705/en/

Wrangler Media Contact
Ashley Lutzker
AMP3 Public Relations
ashley@amp3pr.com

Dr. Scholl’s Media Contact
Hailey Kodora
Bollare
hailey.kodora@bollare.com

Source: Caleres

GREENSBORO, N.C.--(BUSINESS WIRE)-- Two legends of American style come together for the very first time. J.Crew and Lee^®, the iconic heritage denim brand founded in 1889, introduce an exclusive collaboration that reimagines Lee’s most historic denim styles through the lens of J.Crew’s prep heritage.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318923310/en/

J.Crew and Lee® introduce an exclusive collaboration that reimagines Lee’s most historic denim styles through the lens of J.Crew’s prep heritage.

The Lee X J.Crew capsule collection brings together two distinct points of view with one shared story in denim. Drawing from Lee’s legacy of timeless style and J.Crew’s East Coast sensibility, the collection offers a modern take on American classics across women’s, men’s, and kids’ categories.

“This collaboration felt incredibly natural,” said Olympia Gayot, Creative Director of J.Crew Women’s & Kids. “Lee represents an essential part of American denim heritage. At J.Crew, my goal was to honor that legacy while refining it through our lens — polished but relaxed, thoughtful but unfussy. We focused on pieces that feel authentic and enduring, the kind of wardrobe staples you reach for instinctively and keep for years. It’s about respecting heritage while making it feel relevant now.”

The collection reinterprets iconic Lee silhouettes, including the Storm Rider™ jacket, western shirts, straight-leg jeans, skirts, and overalls. Each piece is crafted from premium materials such as Japanese selvedge denim sourced from renowned mills like Kaihara and Kurabo, with details including custom hardware, embossed brass finishes, and vintage-inspired labels referencing early 1970s Lee imagery. Thoughtful fabrications, from garment-dyed cottons to perfect-rib knits to a J.Crew plaid created for the Storm Rider jacket, ensure every style feels both authentic and modern.

”This will be the first collaboration available on Lee.com that encompasses men, women and kids’ apparel, and we couldn’t have a better partner than J. Crew,” said Joe Broyles, Vice President of Collaborations at Lee. “They are a master at product storytelling, and we’re thrilled with the outcome. This capsule amplifies Lee’s new global ‘Built Like Lee’ platform – highlighting how we’re showing up in new ways for today’s consumer.”

Designed to evolve with wear, the collection reflects the enduring appeal of American style that gets better over time.

A Narrative Celebration

Drawing inspiration directly from Lee’s rich advertising archives, the creative teams tapped into the shared visual history of both brands, reworking the language of classic Americana, prep, and denim through a fresh, contemporary lens. The campaign imagery and collection design pay homage to Lee’s vintage ads while introducing a renewed sense of optimism and effortless style. Grounded in heritage yet designed for today, the collaboration reflects a thoughtful evolution rather than a reinvention.

The collaboration was celebrated with a brand experience in Los Angeles alongside friends of the brand.

Collection Availability

The Lee^® X J.Crew collection will launch online on March 19th at jcrew.com and lee.com and will be available in select J.Crew stores. Prices range from $45 to $268.

Two American icons. Two distinct perspectives. One shared story told in denim.

About J.Crew

Founded in 1983, J.Crew is an iconic American brand and internationally recognized omnichannel retailer known for its timeless style, quality craftsmanship, and fresh approach to classic design. With a deep connection to personal style and self-expression, J.Crew offers thoughtfully designed women’s, men’s, and kids’ collections that blend heritage with a point of view that feels relevant today.

J.Crew serves as a destination for everyday essentials and statement pieces alike, creating clothing that fits seamlessly into real life, from work to weekend, city to coast. Through compelling storytelling, meaningful partnerships, and a commitment to quality, the brand continues to evolve while staying true to its American roots.

As of March 9, 2026, J.Crew operates 114 retail stores across the United States and maintains a robust e-commerce presence, serving customers globally. For more information, visit jcrew.com.

About Lee

Lee^®, a Kontoor Brands (NYSE: KTB) brand, is an iconic American brand that’s been designing to a higher standard for 135 years. From its foundation of iconic denim and workwear, Lee has built a global following with products sold in more than 100 countries and 900+ branded retail locations. The brand’s attention to trend-right and timeless styles and balance between denim and casual apparel appeals to male and female customers. Meanwhile, Lee’s integration in pop culture with global collaborations, expanded lifestyle offerings and ‘Built Like Lee’ platform is attracting a new generation of fans worldwide. For more information, visit www.lee.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260318923310/en/

For media enquiries:
lee@scenariopr.com
j.crew@karlaotto.com

Source: Lee

GREENSBORO, N.C.--(BUSINESS WIRE)-- Global western icon Wrangler® and Avirex, the legendary purveyor of luxury American leather, today announced the launch of an exclusive collaborative collection. This collaboration represents a bold fusion of two distinct worlds: durable, deep-rooted Western fashion and aviation-inspired streetwear, designed for the next generation of tastemakers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304055703/en/

Wrangler x Avirex collection

While Wrangler brings over 75 years of Western dominance, Avirex injects a distinctive urban edge rooted in its history as a streetwear and hip-hop staple. Founded in 1975 to produce authentic military-inspired flight jackets, Avirex evolved into a symbol of status and culture in the 1980s and ‘90s. By merging Avirex’s premium leather craftsmanship and bomber silhouettes with Wrangler’s archival denim ruggedness, this collection redefines heritage fashion for a modern audience.

“Avirex brings a distinctive point of view rooted in premium craftsmanship and cultural impact, which makes this collaboration a natural fit for Wrangler,” says Holly Wheeler, Vice President of Global Brand Marketing Kontoor Brands Inc. “Together, we’re blending heritage and modern style in a way that feels fresh and authentic—expanding our reach into a more premium space while continuing to celebrate the breadth of collaborations that make Wrangler such a dynamic global brand."

“Wrangler is the authority of the West, and Avirex owns the sky and the street,” says Mia Dell’Osso-Caputo, Creative Director of Avirex. “This collection lives where rodeo grit meets city swagger. By fusing our signature leather with Wrangler’s timeless denim, we created a new uniform for people who move with purpose and value authenticity above all else.”

The seven-piece collection features a range of premium pieces characterized by bold embroidery, vintage-inspired patches, and superior materials. Highlights include:

• The Suede Trucker Jacket (Black): This standout piece is expertly crafted from 100% leather, with front button closures, side seam pockets, and is finished with “all-over” black-and-white patches that highlight dual branding.
• Patch Jacket (Wrangler Blue): Inspired by the trucker silhouette, this modern denim jacket pulls from both our archives, with “all-over” patches of Wrangler blue and yellow and Avirex’s signature red and black colorways.
• Barrel Jeans (Black and Wrangler Blue): Available in iconic Wrangler Blue or sleek, black-coated denim, these jeans are structured but easy. The exposed chainstitching—a technique synonymous with 1940s Western wear— creates a clean barrel shape and features the iconic “W” stitching on the back pockets with an oversized back pocket patch.
• The Streetwear Essentials: Finally, the collection is rounded out by a 100% heavy-weight Cotton Hoodie and Jogger set in black, featuring western-inspired "scroll" embroidery and co-branded graphics, as well as a heavy-weight Regular Fit Tee with the “all-over” patchwork.

Born in the West and raised in the city, the Wrangler x Avirex collection ranges in price from $129.99 for the Black Tee to $1,699.99 for the Suede Trucker Jacket. It will be available starting March 4th, 2026, on wrangler.com and avirex.com.

IMAGERY

Link to hi-res images, courtesy of Avirex and Wrangler®

About Wrangler®

Wrangler®, of Kontoor Brands (NYSE: KTB), has been an icon in authentic American style for 75 years. With a rich legacy rooted in the Western lifestyle, Wrangler is committed to offering superior quality and timeless design. Its collections for men, women, and children look and feel great, inspiring all those who wear them to be strong and ready for everyday life. Wrangler is available in retail stores worldwide, including flagship stores in Fort Worth and Greensboro, department stores, mass-market retailers, specialty shops, top western outfitters, and online. For more information, visit Wrangler.com.

About Avirex

Avirex® is an iconic American fashion brand, founded in 1975 as a supplier of military aviation apparel for the U.S. Air Force. The brand rose to worldwide appeal when its aviator jackets appeared in the 1986 blockbuster Top Gun. Throughout the late 1980s and early 1990s, Avirex® became a cultural staple, earning a cult following among hip-hop heavy hitters and A-list talent drawn to its distinctive leather “Icon” and “Wildcat” jackets and its signature craftsmanship.

Today, Avirex® marks 50+ years of heritage, style, and innovation under Centric Brands LLC, honoring its American roots with premium apparel and outerwear available across the U.S. and Europe. Follow @avirex.us. Avirex.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260304055703/en/

For media inquiries, please contact: Ashley Lutzker, ashley@amp3pr.com

Source: Wrangler

• Revenue of $1.02 billion increased 46 percent compared to prior year
• Reported gross margin was 46.2 percent. Adjusted gross margin of 46.8 percent increased 210 basis points compared to prior year
• Reported operating income was $121 million. Adjusted operating income of $150 million increased 48 percent compared to prior year. Adjusted operating income includes $8 million of incremental demand creation and brand investments relative to the Company’s prior outlook
• Reported EPS was $1.31. Adjusted EPS of $1.73 increased 26 percent compared to prior year. Adjusted EPS includes $0.10 of incremental demand creation and brand investments relative to the Company’s prior outlook
• Inventory of $567 million decreased $198 million from the third quarter, representing a 26 percent decrease from the third quarter
• The Company made a $200 million voluntary term loan payment
• The Company repurchased $25 million of shares
• As previously announced, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.53 per share

Full Year 2026 Outlook

• Revenue expected to be in the range of $3.40 to $3.45 billion, representing an increase of approximately 9 percent compared to prior year
• Adjusted gross margin expected to be in the range of 47.2 percent to 47.4 percent, representing an increase of 60 to 80 basis points compared to prior year
• Adjusted operating income expected to be in the range of $506 million to $512 million, representing an increase of 8 percent to 9 percent compared to prior year
• Adjusted EPS expected to be in the range of $6.40 to $6.50, representing an increase of 15 percent to 16 percent compared to prior year
• Cash from operations expected to be approximately $425 million
• The Company expects to make voluntary term loan payments of $225 million and to achieve a net leverage ratio below 1.5 times by year-end
• The Company’s outlook includes the impact from increases in tariffs on all countries from which the Company sources product with the exception of Mexico, which is exempt under USMCA. The Company is evaluating the impact of the recent U.S. Supreme Court ruling on tariffs and trade agreement with Bangladesh. The Company utilizes U.S.-grown cotton in more than 80 percent of products sourced from Bangladesh which may qualify for a duty exemption under the trade agreement

GREENSBORO, N.C.--(BUSINESS WIRE)-- Kontoor Brands, Inc. (NYSE: KTB) today reported financial results for its fourth quarter and full year ended January 3, 2026.

“We had a strong finish to the year driven by better-than-expected revenue, earnings and cash generation,” said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Directors. “2025 was a transformational year for Kontoor, highlighted by the acquisition of Helly Hansen, strong growth in Wrangler and disciplined execution.”

“Our results highlight the strength and resiliency of our expanded brand portfolio as well as the impact from our transformation initiatives,” added Baxter. “Supported by record cash generation, including a $100 million contribution from Helly Hansen, we are ahead of our planned deleverage path, allowing us to capitalize on opportunistic share repurchases in the fourth quarter. I want to thank our colleagues around the globe for positioning us to deliver strong returns for our shareholders in the years ahead.”

Fourth Quarter 2025 Income Statement Review

Revenue was $1.02 billion and increased 46 percent compared to prior year, including a 36 percentage point benefit from the acquisition of Helly Hansen. Excluding the revenue contribution from Helly Hansen and the 53^rd week of 2025, revenue increased 2 percent.

Wrangler brand global revenue was $562 million and increased 12 percent compared to prior year. Revenue growth benefitted by approximately 8 percentage points from the 53^rd week. Wrangler U.S. revenue increased 12 percent, driven by a 16 percent increase in direct-to-consumer and an 11 percent increase in wholesale. Wrangler international revenue increased 10 percent compared to prior year, driven by a 35 percent increase in direct-to-consumer and a 6 percent increase in wholesale.

Lee brand global revenue was $198 million and increased 2 percent compared to prior year. Revenue growth benefitted by approximately 6 percentage points from the 53^rd week. Lee U.S. revenue increased 9 percent driven by a 9 percent increase in wholesale and an 8 percent increase in direct-to-consumer. Lee international revenue decreased 6 percent driven by a decline in wholesale partially offset by an increase in direct-to-consumer.

Helly Hansen global revenue was $254 million. Revenue benefitted by approximately $3 million from the 53^rd week. Sport and Workwear revenue was $194 million and $54 million, respectively. Musto brand revenue was $7 million. U.S. revenue was $68 million and international revenue was $186 million.

Gross margin increased 250 basis points to 46.2 percent on a reported basis and increased 210 basis points to 46.8 percent on an adjusted basis compared to prior year, including a 180 basis point benefit from the acquisition of Helly Hansen. Excluding Helly Hansen, adjusted gross margin increased 30 basis points driven by the benefits from Project Jeanius, and channel and product mix, partially offset by increased product costs and the impact from previously enacted increases in tariffs, net of pricing actions.

Selling, General & Administrative (SG&A) expenses were $350 million, or 34.3 percent of revenue on a reported basis. On an adjusted basis, SG&A expenses were $326 million, or 32.0 percent of revenue. Excluding Helly Hansen, adjusted SG&A expenses were $234 million representing an increase of 11 percent driven primarily by an increase in demand creation investments and volume-based variable expenses, including the impact of the 53^rd week, partially offset by the benefits from Project Jeanius.

Operating income was $121 million on a reported basis. On an adjusted basis, operating income was $150 million and increased 48 percent compared to prior year. Adjusted operating income includes $8 million of incremental demand creation and brand investments relative to the Company’s prior outlook. Adjusted operating margin of 14.8 percent increased 30 basis points compared to prior year. Excluding Helly Hansen, adjusted operating income was $110 million and increased 9 percent compared to prior year.

Earnings per share (EPS) was $1.31 on a reported basis. On an adjusted basis, EPS was $1.73, representing an increase of 26 percent, including a $0.44 contribution from Helly Hansen. Adjusted EPS includes $0.10 of incremental demand creation and brand investments relative to the Company’s prior outlook.

Full Year 2025 Income Statement Review

Revenue was $3.15 billion and increased 21 percent compared to prior year, including an 18 percentage point benefit from the acquisition of Helly Hansen. Excluding the revenue contribution from Helly Hansen and the 53^rd week, revenue increased 1 percent.

Wrangler brand global revenue was $1.91 billion and increased 6 percent compared to prior year. Revenue growth benefitted by approximately 2 percentage points from the 53^rd week. Wrangler U.S. revenue increased 6 percent, driven by a 14 percent increase in direct-to-consumer and a 6 percent increase in wholesale. Wrangler international revenue increased 3 percent compared to prior year, driven by a 10 percent increase in direct-to-consumer and a 2 percent increase in wholesale.

Lee brand global revenue was $750 million and decreased 5 percent compared to prior year. Revenue growth benefitted by approximately 1 percentage point from the 53^rd week. Lee U.S. revenue decreased 4 percent driven by a 5 percent decrease in wholesale partially offset by a 5 percent increase in direct-to-consumer. Lee international revenue decreased 7 percent driven by a decline in wholesale partially offset by an increase in direct-to-consumer.

Helly Hansen global revenue was $475 million for the June through December period. Revenue benefitted by approximately $3 million from the 53^rd week. Sport and Workwear revenue was $354 million and $105 million, respectively. Musto brand revenue was $16 million. U.S. revenue was $113 million and international revenue was $362 million.

Gross margin increased 70 basis points to 45.2 percent on a reported basis and increased 150 basis points to 46.6 percent on an adjusted basis compared to prior year, including a 40 basis point benefit from the acquisition of Helly Hansen. Excluding Helly Hansen, adjusted gross margin increased 110 basis points driven by the benefits from Project Jeanius, and channel and product mix, partially offset by increased product costs and the impact from previously enacted increases in tariffs, net of pricing actions.

Selling, General & Administrative (SG&A) expenses were $1.09 billion, or 34.5 percent of revenue on a reported basis. On an adjusted basis, SG&A expenses were $1.00 billion, or 31.8 percent of revenue. Excluding Helly Hansen, adjusted SG&A expenses were $815 million representing an increase of 2 percent driven by an increase in demand creation investments and volume-based variable expenses, including the impact of the 53^rd week, partially offset by the benefits from Project Jeanius.

Operating income was $337 million on a reported basis. On an adjusted basis, operating income was $468 million and increased 23 percent compared to prior year. Adjusted operating margin of 14.9 percent increased 30 basis points compared to prior year. Excluding Helly Hansen, adjusted operating income was $423 million and increased 11 percent compared to prior year, resulting in a 120 basis point increase in adjusted operating margin to 15.8 percent of revenue.

Earnings per share (EPS) was $4.05 on a reported basis. On an adjusted basis, EPS was $5.59, representing an increase of 14 percent, including a $0.35 contribution from Helly Hansen.

Balance Sheet and Liquidity Review

The Company ended the fourth quarter with $108 million in cash and cash equivalents, and $1.13 billion in long-term debt. During the quarter, the Company made a $200 million voluntary term loan payment.

At the end of the fourth quarter, the Company had no outstanding borrowings under the Revolving Credit Facility and $493 million available for borrowing against this facility. At the end of the fourth quarter, the Company’s pro-forma net leverage ratio was 2.0 times.

Inventory at the end of the fourth quarter was $567 million, including inventory from the acquisition of Helly Hansen. Total inventory at the end of the fourth quarter decreased $198 million on a sequential basis from the third quarter.

As previously announced, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.53 per share, payable on March 20, 2026, to shareholders of record at the close of business on March 10, 2026.

The Company returned $54 million to shareholders through dividends and share repurchases during the fourth quarter, including the repurchase of $25 million of common stock. For the full year, the Company returned approximately $140 million to shareholders through dividends and share repurchases. The Company has $190 million remaining under its authorized share repurchase program.

Full Year 2026 Outlook

The Company’s outlook includes the impact from increases in tariffs on all countries from which the Company sources product, with the exception of Mexico. Based on currently available information, the Company’s imports from Mexico to the U.S. remain exempt under USMCA.

The Company’s outlook assumes a 15 percent reciprocal tariff rate on applicable inventory receipts effective February 24, 2026. The Company’s outlook assumes at least a 20 percent reciprocal tariff rate on applicable inventory owned prior to February 24, 2026.

The Company is evaluating the impact of the recent U.S. Supreme Court ruling on tariffs and trade agreement with Bangladesh. The Company utilizes U.S.-grown cotton in more than 80 percent of products sourced from Bangladesh which may qualify for a duty exemption under the trade agreement.

“We are entering 2026 from a position of strength, with sharp strategic clarity and a relentless focus on execution,” said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Directors. “We have the team and platforms in place to drive another year of record revenue and earnings, cash generation, and investment behind our brands. The strength and resiliency of our model provides significant capital allocation optionality to deliver superior returns for our shareholders.”

The Company’s outlook includes the full year expected contribution from Helly Hansen as well as the impact from increases in tariffs. The Helly Hansen business exhibits revenue and earnings seasonality, specifically in the second quarter, Helly Hansen’s smallest revenue quarter of the year. Further, the Company expects the negative impact from tariffs to be larger in the first half of the year due to the timing of inventory flows at higher costs and other mitigating actions, including the expected benefits from Project Jeanius.

The Company’s full year 2026 outlook includes the following assumptions:

• Revenue is expected to be in the range of $3.40 to $3.45 billion, representing growth of approximately 9 percent compared to prior year, including an approximate 2 percent impact from the 53^rd week in the prior year.
  
  For the first half of 2026, revenue is expected to be in the range of $1.56 to $1.57 billion, reflecting growth of between 22 and 23 percent compared to prior year, including the contribution from Helly Hansen.

• Adjusted gross margin is expected to be in the range of 47.2 percent to 47.4 percent, representing an increase of 60 to 80 basis points compared to prior year. The benefits from Project Jeanius, channel and product mix, and the contribution from Helly Hansen are expected to offset the impact from increases in tariffs, net of pricing actions.
  
  For the first half of 2026, adjusted gross margin is expected to be in the range of 47.1 percent to 47.3 percent.

• Adjusted SG&A expenses are expected to increase approximately 12 percent compared to prior year. Excluding Helly Hansen, SG&A expenses are expected to be consistent with prior year, including an increase in investment in demand creation and other strategic growth initiatives, offset by disciplined expense management, Project Jeanius and the impact of the 53^rd week in prior year.
  
  For the first half of 2026, SG&A is expected to increase approximately 33 percent, primarily reflecting the impact of Helly Hansen.

• Adjusted operating income is expected to be in the range of $506 to $512 million, representing an increase of 8 percent to 9 percent compared to prior year, including the impact from increases in tariffs.
  
  For the first half of 2026, adjusted operating income is expected to be in the range of $195 to $198 million.

• Adjusted EPS is expected to be in the range of $6.40 to $6.50, representing an increase of 15 percent to 16 percent compared to prior year, including the impact from increases in tariffs.
  
  For the first half of 2026, adjusted EPS is expected in the range of $2.25 to $2.30.

• Capital expenditures are expected to be approximately $45 million.

• The Company expects an effective tax rate of approximately 20 percent on adjusted earnings, including the benefit of synergies from Helly Hansen. For the first half of 2026, the Company expects an effective tax rate of approximately 23 percent.

• Interest expense is expected to be approximately $55 million. Other expense is expected to be approximately $15 million. Average shares outstanding are expected to be approximately 56 million. There are no share repurchases contemplated in the Company’s outlook.

• The Company expects cash from operations of approximately $425 million.

• The Company expects to make voluntary term loan payments of $225 million, and to achieve a net leverage ratio below 1.5 times by year-end.

Webcast Information

Kontoor Brands will host its fourth quarter and full year 2025 conference call beginning at 8:30 a.m. Eastern Time today, March 3, 2026. The conference will be broadcast live via the Internet, accessible at https://www.kontoorbrands.com/investors. For those unable to listen to the live broadcast, an archived version will be available at the same location.

Non-GAAP Financial Measures

This release refers to “adjusted”, “organic” and “constant currency” amounts from 2025 and 2024, which are further described in the sections below. All per share amounts are presented on a diluted basis. Amounts as presented herein may not recalculate due to the use of unrounded numbers.

Adjusted Amounts - This release refers to “adjusted” amounts. Adjustments during 2025 represent (i) charges related to the closure of a portion of our manufacturing facilities and (ii) business optimization activities associated with the continued execution of Project Jeanius. Adjustments during 2024 represent restructuring and transformation costs related to business optimization activities associated with Project Jeanius and actions to streamline and transfer select production within our internal manufacturing network. Additional information regarding adjusted amounts is provided in notes to the supplemental financial information included with this release.

Organic Amounts - This release refers to “organic” amounts, which represent operating results excluding contributions from the Helly Hansen^® and Musto^® brands.

Constant Currency - This release refers to “reported” amounts in accordance with GAAP, which include translation and transactional impacts from changes in foreign currency exchange rates. This release also refers to “constant currency” amounts, which exclude the translation impact of changes in foreign currency exchange rates.

Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented in the supplemental financial information included with this release that identifies and quantifies all reconciling adjustments and provides management's view of why this non-GAAP information is useful to investors. While management believes that these non-GAAP measures are useful in evaluating the business, this information should be viewed in addition to, and not as an alternate for, reported results under GAAP. The non-GAAP measures used by the Company in this release may be different from similarly titled measures used by other companies.

For forward-looking non-GAAP measures included in this filing, the Company does not provide a reconciliation to the most comparable GAAP financial measures because the information needed to reconcile these measures is unavailable due to the inherent difficulty of forecasting the timing and/or amount of various items that have not yet occurred and have been excluded from adjusted measures. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company’s accounting policies for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort.

About Kontoor Brands

Kontoor Brands, Inc. (NYSE: KTB) is a portfolio of three of the world’s most iconic lifestyle, outdoor and workwear brands: Wrangler^®, Lee^® and Helly Hansen^®. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information about Kontoor Brands, please visit www.KontoorBrands.com.

Forward-Looking Statements

Certain statements included in this release and attachments are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “should,” “may” and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as required under the U.S. federal securities laws. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: macroeconomic conditions, including inconsistent consumer demand despite recent declines in interest rates, fluctuating foreign currency exchange rates, moderating inflation and global supply chain issues, as well as the ongoing impact of tariffs and uncertainty regarding the outcome of trade negotiations, import/export regulations and tariff policies, continue to adversely impact global economic conditions and have had, and may continue to have, a negative impact on the Company's business, results of operations, financial condition and cash flows (including future uncertain impacts); the level of consumer demand for apparel; reliance on a small number of large customers; potential difficulty in integrating Helly Hansen and/or in achieving the expected growth, cost savings and/or synergies from the acquisition; supply chain and shipping disruptions, which could continue to result in shipping delays, an increase in transportation costs and increased product costs or lost sales; intense industry competition; the ability to accurately forecast demand for products; the Company’s ability to gauge consumer preferences and product trends, and to respond to constantly changing markets; the Company’s ability to maintain the images of its brands; disruption and volatility in the global capital and credit markets and its impact on the Company's ability to obtain short-term or long-term financing on favorable terms; the Company maintaining satisfactory credit ratings; restrictions on the Company’s business relating to its debt obligations; increasing pressure on margins; e-commerce operations through the Company’s direct-to-consumer business; the financial difficulty experienced by the retail industry; possible goodwill and other asset impairment; the ability to implement the Company’s business strategy; the stability of manufacturing facilities and foreign suppliers; fluctuations in wage rates and the price, availability and quality of raw materials and contracted products, including as a result of tariffs and reciprocal tariffs; the reliance on a limited number of suppliers for raw material sourcing and the ability to obtain raw materials on a timely basis or in sufficient quantity or quality; disruption to distribution systems; seasonality; unseasonal or severe weather conditions; potential challenges with the Company’s implementation of Project Jeanius; the Company's and its vendors’ ability to maintain the strength and security of information technology systems; the risk that facilities and systems and those of third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss or maintain operational performance; ability to properly collect, use, manage and secure consumer and employee data; legal, regulatory, political and economic risks; the impact of climate change and related legislative and regulatory responses; stakeholder response to sustainability issues, including those related to climate change; compliance with anti-bribery, anti-corruption and anti-money laundering laws by the Company and third-party suppliers and manufacturers; changes in tax laws and liabilities; the costs of compliance with or the violation of national, state and local laws and regulations for environmental, consumer protection, employment, privacy, safety and other matters; continuity of members of management; labor relations; the ability to protect trademarks and other intellectual property rights; the ability of the Company’s licensees to generate expected sales and maintain the value of the Company’s brands; volatility in the price and trading volume of the Company’s common stock; anti-takeover provisions in the Company’s organizational documents; and fluctuations in the amount and frequency of our share repurchases. Many of the foregoing risks and uncertainties will be exacerbated by any worsening of the global business and economic environment.

More information on potential factors that could affect the Company's financial results are described in detail in the Company’s most recent Annual Report on Form 10-K and in other reports and statements that the Company files with the SEC.