US’ Kontoor Brands posts revenue of $2.61 bn in FY23

American firm Kontoor Brands saw revenues decline by 1 per cent to $2.61 billion in FY23, affected by US and international market challenges.
Gross margin decreased by 140 basis points to 41.7 per cent.
Wrangler’s revenue stayed flat in FY23, while Lee’s decreased by 4 per cent.
The company saw improved gross margins and EPS growth in Q4 FY23.

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