North Carolina-based denim group Kontoor Brands Inc expects 2022 revenue to grow in single-digit over 2021 to approximately $2.7 billion.As per Fashion Network, Kontoor Brands also expects revenues in the first quarter of 2022 to be in the range of $650 to $660 million or flat to up low-single digits compared to last year. Meanwhile, GAAP EPS is expected to be in the range of $1.15 to $1.25.
Revenues in the second quarter are expected to increase 30 per cent to $640 million compared to last year, while GAAP EPS is expected to be in the range of $1.25 to $1.35.
Kontoor Brands’ international business represents approximately 25 percent of its total revenue. The company’s revenue in Europe is concentrated in developed markets such as France, Germany, Italy, Poland, Scandinavia, Spain and the United Kingdom. To support ongoing humanitarian efforts, the company plans to make a charitable donation through a global philanthropic organization. Its employees in Europe have also donated clothing samples for ongoing relief efforts in Ukraine.
