secwatch.observer — SEC 8-K summary
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Issuer:     Kontoor Brands, Inc. (KTB)
CIK:        0001760965
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001760965-23-000025
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kontoor Brands Q2 revenue flat at $616M; adjusted EPS $0.77 vs $1.09; reaffirms FY adjusted outlook
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- Q2 revenue $616M flat YoY; reported EPS $0.64, adjusted EPS $0.77 (includes $0.09 one-time tax charge).
- Reported gross margin 40.6% (-290bps YoY); adjusted gross margin 41.0% (-250bps YoY).
- Inventory +17% YoY, improving from +52% in Q1; expects decline in H2 2023.
- FY23 adjusted EPS guidance $4.55-$4.75; adjusted gross margin 43.5%-44.0%; revenue low-single-digit growth.
- Restructuring actions taken in Q2 to cut non-strategic spend; FY outlook excludes those charges.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760965/000176096523000025/0001760965-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760965/000176096523000025/ktb-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001760965-23-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer