GREENSBORO, N.C.--(BUSINESS WIRE)-- Kontoor Brands, Inc. (NYSE: KTB) today announced it has signed a definitive agreement to sell the Lee^® business to Authentic Brands Group (Authentic) for up to $1 billion, including an initial transaction value of $750 million and a $250 million earnout opportunity in future years based on the performance of Lee under Authentic’s ownership. The transaction is subject to required regulatory approvals and customary closing conditions.

“The Lee transaction is a deliberate step to sharpen our brand portfolio and unlock investment capacity to fuel accelerated growth for the future of Kontoor,” said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Kontoor Brands. “By increasing our focus on Wrangler and Helly Hansen, two iconic brands with significant white space opportunities, we are better positioned to fuel a higher growth profile and create even greater value for our shareholders.”

“I want to reinforce our commitment to support Lee through the sale process and to personally thank the Lee team for getting us to where we are today. We believe this is a great outcome for Kontoor, the Lee business and Authentic,” added Baxter.

Transaction Highlights

The divestiture of the Lee business builds on Kontoor’s success and advances the Company’s strategic and financial growth agenda. Highlights include the following:

Streamlined Brand Portfolio Architecture Allows for Greater Investment in High-Performing, Strategically Aligned Brands

• Brand portfolio with deep heritage, authenticity and category authority in denim, outdoor and workwear
• Sharpens focus on Wrangler^® and Helly Hansen^®, two iconic brands with significant global growth potential
• Enables more concentrated brand investment and improved execution
• Improves returns on strategic initiatives by aligning resources behind the Company’s higher-performing assets

Favorably Shifts Kontoor’s Portfolio Towards Higher Growth Categories, Channels, Geographies and Consumers

• Repositions the portfolio towards structurally higher-growth segments anchored in denim, outdoor and workwear
• Enhances Kontoor’s long-term growth and profitability profile, reinforcing its commitment to delivering long-term value for shareholders

Increases Capital Allocation Optionality

• Reinforces Kontoor’s commitment to a shareholder-focused capital allocation framework, including strategic and disciplined portfolio management and capital stewardship
• Transaction proceeds are anticipated to be deployed through increased share repurchases under our $750 million authorization as well as voluntary term loan payments
• Creates capacity for disciplined reinvestment behind significant organic growth opportunities
• Strengthens the balance sheet and enhances financial flexibility

Transaction Details

The transaction was unanimously approved by the Board of Directors of Kontoor. The transaction is expected to close in the second half of 2026, subject to the receipt of required regulatory approvals and customary closing conditions.

Kontoor has published further details in a presentation accessible at https://www.kontoorbrands.com/investors.

Advisors

Morgan Stanley & Co. LLC is serving as Kontoor Brands’ exclusive financial advisor and Foley & Lardner LLP as its legal advisor.

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 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, including statements herein regarding the expected benefits, financial impact and timing of the sale of the Lee business, including the use of proceeds therefrom for debt reduction or share purchases, 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, such things as, whether and when the required regulatory approvals for the proposed sale of the Lee business will be obtained, whether and when the closing conditions will be satisfied and whether and when the proposed sale of the Lee business will close, if at all; our ability to execute, and realize benefits, successfully, or at all, from, the proposed sale of the Lee business; 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); our ability to deleverage on the anticipated time frame or at all; 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; potential risks and uncertainties in completing the sale of the Lee business, if at all, and potential risks in segregating and disposing of the Lee business and the Company’s ability to mitigate any stranded costs from the potential disposition; 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; our ability to successfully utilize our share repurchase program; 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.

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Investors:
Michael Karapetian, (336) 332-4263
Vice President, Global Brand & Operations Finance and Corporate 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)-- Today, Lee® announces Kacey Lee, its first celebrity collaboration designed with eight-time Grammy Award winner Kacey Musgraves exclusively for Walmart. Named after Musgraves’ first and middle names, Kacey Lee brings together Lee’s® heritage denim and Musgraves’ classic style for an expansive collection across multiple product categories. In addition to men’s and women’s denim bottoms and tops, the 100-plus piece capsule spans sleepwear, swimwear, accessories and pet items.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519170327/en/

The Kacey Lee Collection. Designed in collaboration with Kacey Lee Musgraves. Only at Walmart.

“We are thrilled to work with Kacey and Walmart on this collection,” said Vivian Rivetti, global vice-president for design, Lee. “Lee has been providing denim staples and trend-relevant styles to Walmart shoppers for 30 years. This capsule is a new opportunity to showcase Lee’s craftsmanship and quality in silhouettes that reflect Kacey and will appeal to younger consumers. The collection feels fresh, modern – perfect for enjoying summer concerts – and it’s at a value that only Walmart can offer.”

The Kacey Lee collection launches shortly after Musgraves’ sixth studio album, Middle of Nowhere, released on May 1st. Lyrics and visual elements from that album and others are incorporated into tees, hats and other pieces. Nods to her Texas roots and Americana style are threaded throughout, resulting in a capsule anchored in Lee denim and workwear but featuring versatility and self-expression. It’s made to wear in the middle of nowhere and everywhere – on long summer days, at concerts, and time spent with friends.

“The idea of this capsule excited me, not only because my middle name is ‘Lee,’ but because it feels very nostalgic. I grew up wearing Lee and I wear a lot of denim, vintage tees and workwear, so this partnership felt like a natural fit,” said Kacey Musgraves. “I loved collaborating on the designs and finding ways to incorporate my lyrics and elements of my personality. The goal is always to design pieces I would personally wear, and I know y’all will love it as much as I do.”

The capsule features men’s and women’s fashion, accessories, and pet items, including denim, tops, dresses, swimwear, sleepwear, totes, bags, and lifestyle pieces. Key pieces include:

Women’s Bootcut Jean: This high rise bootcut features an all-over star pattern and bold red logo patch on the back giving these jeans an Americana nod that is perfect for wearing to your favorite concert or outing.

Women’s Dolphin-Hem Denim Short: This high rise denim short features a 2-inch inseam with a curved hem to highlight your curves and give it a retro feel. Red stitching throughout and a bold red “Lee” back patch offer a pop of color.

Women’s Denim Vest & Rider Denim Cheeky Short: A set made to wear together, the denim vest is slimmer to complement your shape with an adjustable back buckle to get the fit just right. In a classic mid-wash denim with silver custom buttons, it pairs perfectly with the Rider denim cheeky short. The 2.5-inch low-rise cutoff has a raw cuffed hem and surprise features – like a star-printed pocket pattern that peaks out at the bottom – as well as the custom red back patch and trim.

Women’s Carpenter Jean and Cropped Chore Jacket: These pieces blend Kacey’s love of workwear and Lee’s heritage, featuring Lee’s iconic hickory stripe pattern. The jeans have a loose-fitting style with traditional carpenter details. The jacket is a more modern take with a cropped fit perfect for layering.

Western Denim Shirt: Available in both men and women’s versions, this shirt balances today’s trend with Lee’s heritage. It features bold red contrast piping and timeless pearl snap closures in a soft cotton fabric.

Men’s Bandana Printed Straight Jean and Workwear Jacket: Lee’s straight relaxed jean and utility jacket get a fresh look thanks to a subtle paisley print inspired by the classic bandana. Featuring Lee’s iconic denim details and pops of red in the trim and back patch. Also available in a solid denim.

Men’s Carpenter Short and Jean in Hickory Stripe: Workwear styles ready to wear everywhere, these two feature a loose fit and a double-knee carpenter style in Lee’s iconic pattern. The short hits just below the knee for a modern take that pairs perfectly with a Kacey Lee graphic tee. Both styles also available in solid denim.

Graphic Tees: From tank tops to baby tees, oversized and ringer tees, the tops in this capsule cleverly bring to life Kacey’s personal mottos and inspiration from Middle of Nowhere album with lyrics, images and sayings. Made to pair perfectly with denim bottoms.

Swimwear: From bikinis to one-pieces, the swimwear is designed to complement the rest of the capsule, including male/female coordinated patterns.

Accessories: Denim-inspired totes, handbags, hats with clever sayings and song lyrics, bag charms, belts and more – each piece is made to bring a fun Kacey Lee element to your day.

Pet Accessories: Inspired by Kacey’s pup, Pepper, and designed to coordinate with fashion from the collection. Whether it’s a top, dress or even a tiny cap, these pieces will make your four-pawed family member ready for summer fun.

“We’re proud to bring this exclusive collaboration to our customers as we continue to build Walmart as a destination for fashion, culture and self-expression,” said Ryan Waymire, senior vice president, adult fashion, Walmart U.S. “Our long-standing partnership with Lee, rooted in quality and heritage, combined with Kacey Musgraves’ distinctive voice and style, allows us to deliver a collection that feels both authentic and fresh. Together, we’re offering standout pieces that make incredible style accessible for customers—whether they’re shopping for everyday wear or their next summer concert.”

Starting May 19th, the collection will be available exclusively at Walmart and Walmart.com, launching in approximately 2,100 stores nationwide. Fashion ranges from $8-$42. Accessories and pet items range from $6 to $25. Sizes vary across styles with select pieces available only online. For more information, visit Walmart.com/KaceyLee.

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.

About Kacey Musgraves

Middle of Nowhere is the sixth studio album from eight-time Grammy Award winner Kacey Musgraves, and is made for two-stepping. The collection draws from a love of Texas dancehall classics, humorous takes on the human condition, and the space where traditional Country borders many sounds including Norteño, touches of bluegrass, and even Zydeco. Fresh yet familiar, it’s classically Kacey: honest, fearless, immersive, and always ready to wink at life’s twists and turns. Middle of Nowhere follows 2024’s Deeper Well, which marked Musgraves' biggest debut sales week, landing at No. 1 on the Top Album Sales chart and her fifth No. 1 debut on the Top Country Albums chart. She launched the Deeper Well World Tour with sold-out shows globally, and the album’s single “The Architect” won Best Country Song at the Grammys. In 2023, Musgraves achieved her first Billboard Hot 100 No. 1 with “I Remember Everything,” her duet with Zach Bryan. The song became the first country duet in 40 years since “Islands in the Stream” by Dolly Parton and Kenny Rogers to top the chart and went on to win a Grammy Award for Best Country Duo or Group Performance. With this win, Musgraves became the only artist ever to receive a Grammy Award for Best Country Album, Best Country Song, Best Country Solo performance and Best Country Duo or Group performance.

Over the course of her career, Musgraves has earned eight Grammy Awards, including Album of the Year for Golden Hour. She has been recognized by Time as one of its “Women of the Year”, honored with the Vanguard Award at the GLAAD Media Awards, celebrated by Billboard’s “Women in Music” and Variety’s “Power of Women”, the recipient of the Songwriter Icon Award by the National Music Publishers’ Association, and was the subject of a comprehensive Country Music Hall of Fame exhibit, Kacey Musgraves: All of the Colors.

About Walmart

Walmart Inc. (Nasdaq: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 280 million customers and members visit more than 10,900 stores and numerous eCommerce websites in 19 countries. With fiscal year 2026 revenue of $713 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260519170327/en/

lee@scenariopr.com

Source: Lee

Key Highlights

• First quarter revenue including the contribution from discontinued operations was $808 million. Revenue from Lee of $195 million now reported in discontinued operations. First quarter revenue from continuing operations of $613 million exceeded expectations driven by 4 percent growth in Wrangler and 16 percent growth in Helly Hansen on a pro-forma basis
• First quarter reported EPS including the contribution from discontinued operations was $1.65. First quarter adjusted EPS including the contribution from discontinued operations was $1.55. First quarter adjusted EPS from continuing operations was $1.06
• Full year revenue outlook including the contribution from discontinued operations is now expected to be in the range of $3.41 to $3.46 billion ($3.40 to $3.45 billion prior). Expected revenue from Lee of approximately $750 million now reported in discontinued operations. Full year revenue outlook from continuing operations is now expected to be in the range of $2.66 to $2.71 billion driven by growth in Wrangler and Helly Hansen
• Full year adjusted EPS outlook including the contribution from discontinued operations is now expected to be in the range of $6.60 to $6.70 ($6.40 to $6.50 prior)
• The Company announced plans to divest the Lee business to sharpen strategic focus on its largest growth assets and enhance capital allocation optionality
• The Company’s Board of Directors approved a new $750 million share repurchase authorization

GREENSBORO, N.C.--(BUSINESS WIRE)-- Kontoor Brands, Inc. (NYSE: KTB) today reported financial results for its first quarter ended April 4, 2026.

“Our strong first quarter results reflect the power of our operating model combined with strong execution,” said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Directors. “Wrangler drove another quarter of broad-based growth and market share gains, and Helly Hansen delivered better-than-expected revenue and profitability. Our decision to divest Lee enables sharper focus on the opportunities with greatest potential to maximize shareholder returns as we align the Kontoor brand portfolio to a higher growth profile.”

“Our updated outlook reflects better than expected first quarter results and improving visibility for Wrangler and Helly Hansen,” added Joe Alkire, Kontoor Brands’ Executive Vice President, Chief Financial Officer and Global Head of Operations. “Our planned divestiture of the Lee business is in an advanced state and has attracted interest from multiple parties. We are confident in our ability to successfully complete a transaction this year, resulting in significantly more capital allocation optionality and accelerated growth as we drive enhanced shareholder returns into 2027 and beyond.”

Planned Divestiture of the Lee Business

During the first quarter of 2026, the Company initiated a competitive process to divest the Lee business. The process has attracted interest from multiple parties and the Company anticipates entering into a definitive agreement to divest the Lee business in 2026. As a result, the Company has reported the results of the Lee business in discontinued operations.

The Company expects the divestiture of Lee to be immaterial to earnings per share over a 12-to-18-month period. The earnings contribution of the Lee business will be offset through strong capital deployment and mitigation of overhead and other expenses through restructuring and other mitigating cost actions to offset the costs that were previously allocated to the Lee business.

First Quarter 2026 Income Statement from Continuing Operations Review

Revenue from continuing operations was $613 million and increased 45 percent compared to prior year, including the contribution from the acquisition of Helly Hansen completed in the second quarter of 2025.

Wrangler brand global revenue was $436 million and increased 4 percent compared to prior year. Wrangler U.S. revenue increased 1 percent, driven by a 6 percent increase in direct-to-consumer and a 1 percent increase in wholesale. Wrangler international revenue increased 20 percent compared to prior year, driven by a 38 percent increase in direct-to-consumer and a 17 percent increase in wholesale.

Helly Hansen global revenue was $176 million. Sport and Workwear revenue was $120 million and $45 million, respectively. Musto brand revenue was $11 million.

Gross margin from continuing operations on a reported basis increased 810 basis points to 53.7 percent. On an adjusted basis, gross margin from continuing operations increased 470 basis points to 50.6 percent compared to prior year, driven by the impact of Helly Hansen, the benefits of Project Jeanius and channel mix, partially offset by increased product costs, net of pricing actions. Adjusted gross margin includes $1 million of overhead and other expenses that were previously allocated to the Lee business.

Selling, General & Administrative (SG&A) expenses from continuing operations were $239 million, or 39.0 percent of revenue on a reported basis. On an adjusted basis, SG&A expenses from continuing operations were $224 million, or 36.5 percent of revenue. The increase in SG&A expenses was driven by the impact of Helly Hansen, higher demand creation and direct-to-consumer investments and volume-based variable expenses, partially offset by the benefits from Project Jeanius. Adjusted SG&A expenses include $7 million of overhead and other expenses that were previously allocated to the Lee business.

Operating income from continuing operations was $90 million on a reported basis. On an adjusted basis, operating income from continuing operations was $87 million and increased 60 percent compared to prior year. Operating income includes $8 million of overhead and other expenses that were previously allocated to the Lee business.

Earnings per share (EPS) from continuing operations was $1.09 on a reported basis. On an adjusted basis, EPS from continuing operations was $1.06, including a $0.26 contribution from Helly Hansen. Adjusted EPS includes $0.11 of overhead and other expenses that were previously allocated to the Lee business.

Balance Sheet and Liquidity from Continuing Operations Review

The Company ended the first quarter with $56 million in cash and cash equivalents, and $1.14 billion in long-term debt. At the end of the first quarter, the Company had no outstanding borrowings under the Revolving Credit Facility and $493 million available for borrowing against this facility.

Inventory at the end of the first quarter was $464 million, including the contribution of inventory from Helly Hansen.

As previously announced, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.53 per share, payable on June 18, 2026, to shareholders of record at the close of business on June 8, 2026.

The Company returned $54 million to shareholders through dividends and share repurchases during the first quarter, including the repurchase of $25 million of common stock.

Share Repurchase Authorization

The Company’s Board of Directors has authorized a share repurchase program of up to $750 million of the Company’s common stock. The new repurchase authorization replaces the existing share repurchase program announced on December 11, 2023.

“Our $750 million share repurchase program reflects the confidence we have in our business moving forward and the opportunities to generate significant value from our sharper brand portfolio,” said Scott Baxter, President, Chief Executive Officer and Chairman of Kontoor Brands. “We remain committed to returning cash to shareholders while maintaining an unrelenting focus on delivering superior total shareholder return over time.”

The timing and amount of repurchases will be determined by the Company based on its evaluation of market conditions, continued compliance with its debt covenants and other factors. The program does not have an expiration date but may be suspended, modified or terminated at any time without prior notice. The Company expects to fund repurchases through cash flow generated from operations and expected proceeds from the planned divestiture of the Lee brand.

Tariff Update

Following the U.S. Supreme Court’s decision that the International Emergency Economic Powers Act (“IEEPA”) does not authorize tariffs, the U.S. Court of International Trade has ordered U.S. Customs and Border Protection to refund IEEPA duties.

The Company believes it is probable that it will recover the IEEPA tariffs previously paid and therefore has recognized a net receivable of $54 million as of March 2026. As a result, during the first quarter of 2026, the Company reduced cost of goods sold by approximately $49 million on a reported basis, representing the reversal of expense for IEEPA tariffs on inventory previously sold. Of the $49 million reduction in cost of goods sold, $29 million was related to tariffs expensed in 2025. On an adjusted basis, the Company has excluded the impact of the reversal of expense for 2025-related IEEPA tariffs on first quarter results and in the updated 2026 outlook.

The Company’s outlook assumes a 15 percent reciprocal tariff rate on applicable inventory receipts for the remainder of 2026. For applicable inventory receipts effective February 24, 2026, a 10 percent reciprocal tariff rate applied, which remains in effect. Applicable inventory owned prior to February 24, 2026 is exempt from reciprocal tariffs. The Company’s updated 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 is evaluating the impact of the United States and Bangladesh reciprocal trade framework. 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 framework.

Updated Full Year 2026 Outlook from Continuing Operations

The Company’s updated full year 2026 outlook reflects the impact of the planned divestiture of the Lee business, which is now reported in discontinued operations.

• Revenue including the expected contribution from discontinued operations is now anticipated to be in the range of $3.41 to $3.46 billion. This compares to the prior outlook range of $3.40 to $3.45 billion. Lee revenue is expected to approximate $750 million and is now reported in discontinued operations. Revenue from continuing operations is expected to be in the range of $2.66 to $2.71 billion.
• Adjusted EPS including the expected contribution from discontinued operations is now anticipated to be in the range of $6.60 to $6.70. This compares to the prior outlook range of $6.40 to $6.50. The expected EPS contribution from the Lee business now reported in discontinued operations is approximately $0.90, or approximately $1.45 including the impact of $0.55 of overhead and other expenses previously allocated to the Lee business that were reported in continuing operations.

Adjusted EPS from continuing operations is expected to be in the range of $5.15 to $5.25, including the impact of approximately $0.55 of unmitigated overhead and other expenses that were previously allocated to the Lee business.

The Company expects the divestiture of Lee to be immaterial to earnings per share over a 12-to-18-month period. The earnings contribution of the Lee business will be offset through strong capital deployment and mitigation of overhead and other expenses, through restructuring and other mitigating cost actions to offset the costs that were previously allocated to the Lee business.

The Company’s full year 2026 outlook from continuing operations also includes the following assumptions.

• Adjusted gross margin is expected to be in the range of 48.3 percent to 48.5 percent, representing an increase of 180 to 200 basis points compared to prior year. The benefits from Project Jeanius, channel and product mix, and the mix benefit from Helly Hansen are expected to more than offset the impact from increases in product costs, net of pricing actions.
• Adjusted SG&A expenses, including the unmitigated impact of expenses previously allocated to the Lee business, are expected to increase approximately 18 percent compared to prior year, including the annualization of Helly Hansen expenses and an increase in investment in demand creation and other strategic growth initiatives, offset by the benefits of Project Jeanius and the impact of the 53rd week in prior year.
• Adjusted operating income, including the unmitigated impact of expenses previously allocated to the Lee business, is expected to be in the range of $411 to $418 million, representing an increase of 15 percent to 17 percent compared to prior year.
• Capital expenditures are expected to be approximately $40 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 25 percent.
• Interest expense is expected to be approximately $55 million. The outlook for interest expense does not include the impact of potential additional voluntary debt repayments with a portion of the expected proceeds from the planned divestiture of the Lee business.
• Other expense is expected to be approximately $15 million.
• Average shares outstanding are expected to be approximately 56 million. The outlook for average shares outstanding does not include the impact of potential additional share repurchases from the expected proceeds from the planned divestiture of the Lee business.
• The Company now expects cash from operations of approximately $450 million, including the expected contribution from the Lee business which is reported in discontinued operations.
• The Company expects to make voluntary term loan payments of $225 million, excluding the impact of potential additional voluntary debt repayments with a portion of the expected proceeds from the planned divestiture of the Lee business. The Company expects to achieve a net leverage ratio below 1.5 times on a continuing operations basis by year-end.

Webcast Information

Kontoor Brands will host its first quarter 2026 conference call beginning at 8:30 a.m. Eastern Time today, May 7, 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 2026 and 2025, 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 2026 represent (i) business optimization activities associated with the continued execution of Project Jeanius, (ii) acquisition and integration-related costs associated with the Helly Hansen acquisition and, (iii) excluding the impact of the reversal of expense for 2025 IEEPA-related tariffs on first quarter of 2026 results. Adjustments during 2025 represent (i) restructuring and transformation costs related to business optimization activities associated with Project Jeanius, (ii) actions to streamline and transfer select production within our internal manufacturing network and, (iii) acquisition and integration-related costs associated with the Helly Hansen acquisition. 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; potential risks and uncertainties in completing the sale of the Lee business, if at all, and potential risks in segregating and disposing of the Lee business and the Company’s ability to mitigate any stranded costs from the potential disposition; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260507061035/en/

Investors:
Michael Karapetian, (336) 332-4263
Vice President, Global Brand & Operations Finance and Corporate 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.

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/20260424083321/en/

Investors:
Michael Karapetian, (336) 332-4263
Vice President, Global Brand & Operations Finance and Corporate 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)-- Chaco and Wrangler® have joined forces to bring their Western roots and wild soles together. Celebrating a shared commitment to durability and authenticity, these two brands have created an eight-piece unisex collection built for adventure.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260423800470/en/

Chaco x Wrangler

The Chaco x Wrangler® collaboration perfectly aligns with the values of active outdoor enthusiasts, particularly among Gen Z and Millennials—who demand lasting construction from their favorite brands. By combining Wrangler's 75-year heritage of durable American apparel with Chaco’s outdoor performance expertise, the collection offers a versatile wardrobe built for longevity and real-world exploration.

Made for the ranch to the river, from sunrises to starry skies, the collaboration features four pairs of shoes and four shirts designed as matching sets that can be worn together or separately.

The collection includes:

• Performance + Pattern: Two relaxed‑fit, breathable long‑sleeve performance shirts in Wrangler’s signature Checotah print and Brushpopper Stripe, paired with Chaco’s iconic Mega Z Classic Sandal featuring 32mm webbing straps that wrap the foot for a customized fit, Chaco’s signature LUVSEAT™ podiatrist‑accepted footbed for arch support and healthy alignment, and a 3.0 mm lug outsole for no‑slip traction—delivering all‑day comfort and confidence on any terrain.
• Classic Denim: A 100% cotton Long-sleeved Denim Shirt in a relaxed-fit Mid Wash. This is paired with a Z/1 Classic Sandal in a ‘47 Dark Wash—a nod to Wrangler’s founding year. The sandal features upper-polyester jacquard webbing, a loveseat footbed, and 3.0 MM lug depth.
• Western Accents: A regular-fit Aztec Print Pocket Tee accompanied by a Light Brown Suede Clog that features a large buckle and Western-inspired stitching.

“By pairing our deep-rooted Western heritage with Chaco’s spirit of adventure, we’ve created a collection that is comfortable in every landscape,” says Holly Wheeler, Vice President of Global Brand Marketing at Kontoor Brands. “This collaboration celebrates the shared values of durability and authenticity that both our brands are known for, offering our consumers a cohesive, head-to-toe uniform designed for a life lived fully outdoors.”

“Our community lives in their Chacos — they travel in them, camp in them, and make memories in them,” says Rose Fulbright, Marketing Director at Chaco. “Partnering with Wrangler allowed us to blend our river‑born performance with iconic Western style, creating a collection that’s ready for long days, open landscapes, and wherever the adventure leads.”

The Chaco x Wrangler® collection will be available exclusively on wrangler.com and chacos.com. Prices range from $39.99 for the Pocket Tee to $150 for the Suede Clog.

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 Chaco

Born on the river in 1989, Chaco, a division of Wolverine Worldwide, Inc. (NYSE: WWW), builds premium footwear for the outdoor-minded. The brand's iconic Z/sandals are repairable at ReChaco and more than 20,000 sandals a year are kept out of landfills every year. Plus, as a result of the brand's proprietary LUVSEAT™ foot bed, the American Podiatric Medical Association (APMA) has awarded the Seal of Acceptance to all Chaco footwear styles. The APMA Seal is intended to raise awareness by identifying products of exceptional quality that are manufactured with comfort, health, and safety in mind. Simply put, Chaco is fit for adventure. Please visit us at www.chacos.com, Facebook: Chaco, Instagram: ChacoFootwear, TikTok: ChacoFootwear.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260423800470/en/

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

Chaco Media Contact
Taylor Baumgardner
The Agency
Taylor.Baumgardner@wwwinc.com

Source: Wrangler

Following the news release, Kontoor management will host a conference call at approximately 8:30 a.m. ET to review results.

The conference call will be broadcast live and accessible at kontoorbrands.com/investors. For those unable to listen to the live broadcast, an archived version will be available at the same location.

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/20260416711586/en/

Investors:
Michael Karapetian, (336) 332-4263
Vice President, Global Brand & Operations Finance and Corporate 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.

“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