Kontoor Brands Easily Beats Expectations
Denim company Kontoor Brands (NYSE: KTB), which was spun off from VF Corp. in May, reported its second-quarter results before the market opened on Aug. 8. Revenue was hurt by the bankruptcy of Sears Holdings, the exit from an underperforming country in Europe, business model changes in certain markets, and foreign-currency headwinds. But the company still managed to beat analyst expectations by a large margin.
Kontoor's revenue and earnings were down compared to the prior-year period, but both handily exceeded analyst estimates:
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Quelle Fool.com
