Kontoor Brands, Inc.

Kontoor Brands, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.54 per share, marking a 2% increase from the previous dividend. The dividend is scheduled to be paid on December 18, 2026, to shareholders who are on record as of the close of business on December 8, 2026. This announcement was made via an 8-K filing with the SEC.

Kontoor Brands entered a definitive agreement to sell its global Lee® business to ABG-Storm LLC for $750.0 million in cash at closing, with an additional $250.0 million earnout opportunity. For Q2 FY26, net revenues from continuing operations increased 18.6% to $584.3 million, while income from continuing operations slightly decreased 2.8% to $57.0 million. Diluted EPS from continuing operations was $1.03. The company also recognized a $15.4 million gain from the sale of a manufacturing facility and a $53.7 million net receivable for IEEPA tariff refunds.

Kontoor Brands, Inc. announced that Joseph A. Alkire, previously EVP, CFO, and Global Head of Operations, has been appointed President and Chief Financial Officer, effective August 12, 2026. Scott H. Baxter will continue in his roles as Chief Executive Officer and Chairman of the Board. In connection with his new role, Mr. Alkire's compensation package was updated to include an annual base salary of $900,000, an annual bonus target of 120% of his base salary, and a long-term incentive award opportunity of $2,600,000.

Kontoor Brands, Inc. reported strong second-quarter 2026 financial results, with revenue from continuing operations increasing 19% to $584 million and adjusted diluted EPS rising 13% to $1.06. Following these results, the company raised its full-year 2026 adjusted EPS outlook to a range of $5.25 to $5.35. Additionally, Kontoor Brands announced its intention to enter into a $400 million Accelerated Share Repurchase agreement upon the closing of the Lee business divestiture, which is expected in the fourth quarter.

Kontoor Brands, Inc. has provided recast unaudited financial information for fiscal year 2025, presenting its Lee business as discontinued operations. This follows the previously disclosed Stock Purchase Agreement on May 20, 2026, to sell the Lee business to ABG-Storm LLC, an affiliate of Authentic Brands Group. The recasting aims to assist investors in understanding the financial impact of the divestment, which was classified as held-for-sale in Q1 2026.

Kontoor Brands, Inc. announced the appointment of Andrew Taylor as Vice President and Chief Accounting Officer, effective August 28, 2026. This filing amends a previous 8-K to disclose his compensation package. Mr. Taylor's compensation includes an annual base salary of $280,000, an annual bonus target of 40% of his base salary, and a long-term incentive award opportunity of $225,000.

Kontoor Brands, Inc. has appointed Thomas E. Waldron to its Board of Directors, increasing the board size from six to seven members. Mr. Waldron previously served as Executive Vice President and Chief Operating Officer of Kontoor, bringing extensive experience with the Wrangler and Lee brands. Additionally, the company declared a regular quarterly cash dividend of $0.53 per share, payable on September 18, 2026, to shareholders of record on September 8, 2026.

Kontoor Brands, Inc. announced that S. Denise Sumner will retire as Vice President and Chief Accounting Officer, effective August 28, 2026. Following her retirement, Ms. Sumner will serve in an advisory capacity until January 1, 2027. Andrew Taylor, currently the Controller of Accounting and Reporting, will succeed Ms. Sumner as Vice President and Chief Accounting Officer on August 28, 2026.

Kontoor Brands, Inc. has signed a definitive agreement to sell its Lee® business to ABG-Storm LLC, an affiliate of Authentic Brands Group, for up to $1 billion. The transaction includes an initial cash payment of $750 million at closing, with an additional $250 million earnout opportunity based on Lee's performance over a five-year period. The company plans to use the proceeds to accelerate debt reduction and return capital to shareholders through share repurchases, aiming to sharpen its brand portfolio and focus on higher-growth brands like Wrangler and Helly Hansen. The deal, unanimously approved by Kontoor's Board, is expected to close in the second half of 2026, subject to regulatory approvals.

Kontoor Brands reported strong financial results for Q1 FY26, with net income more than doubling to $92.4 million and net revenues increasing to $613.3 million. The company announced a planned divestiture of its global Lee® brand, which has been classified as held-for-sale and discontinued operations. Additionally, Kontoor Brands completed the sale of its Rock & Republic® brand in March 2026 and recognized a $53.7 million receivable for IEEPA tariff refunds, positively impacting cost of goods sold.