Amidst supply chain constraints and growing inflation, Kontoor Brands has lowered its full-year outlook and now expects FY 22 revenues to grow by 6 per cent Y-o-Y.
The Q2 revenues of the renowned clothing retailer from the US surged by 25 per cent to $613.6 million.
The apparel retailer attributed the good numbers to its US business that grew by an impressive 40 per cent to post $510.2 million.
Notably, the retailer’s net income grew to $62 million from $23.6 million a year earlier.
Brand-wise, Wrangler’s revenue rose by 34 per cent to clock $417.9 million, with Lee posting a growth of 10 per cent to touch $193.1 million.
While revenue from China fell by 50 per cent owing to pandemic-induced restrictions, international revenue, on the whole, dipped by 18 per cent to $103.3 million.
North Carolina-based retailer, Kontoor Brands is known for marketing denim clothing under brand names Lee, Wrangler and Rock & Republic.