Kontoor Brands rises on upbeat annual forecast

Kontoor Brands

28/02/2023 13:24

** Shares of Lee jeans maker Kontoor Brands Inc  KTB.N  up
~10% at $47.80 premarket
    ** Co forecasts annual profit and revenue above Wall Street
estimates on strong demand for its brands like Wrangler
    ** Sees full-year profit per share of $4.55 to $4.75, well
above analysts' estimate of $4.36, per Refinitiv data
    ** Also expects 2023 revenue to rise in low single digit
percentage compared with analysts' average expectation of 0.91%
    ** KTB's Q4 revenue and profit beats analysts' estimates
    ** Up to Monday's close, stock had fallen ~12% in the past
12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))