Kontoor Models Inc. (NYSE:KTB) unveiled its to start with-quarter outcomes ahead of the sector opened on Might 7. The denim organization that owns the Wrangler and Lee brands posted an earnings beat, but earnings fell quick of expectations.
Earnings and earnings
The organization posted quarterly earnings of 27 cents for every share, down from seventy eight cents in the calendar year-in the past period of time. Analysts had forecasted earnings of 26 cents for every share. Profits declined 22% to $504 million, which was under analysts’ projections.
Reflecting on the firm’s efficiency, President and CEO Scott Baxter stated: