Kontoor(KTB) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter 2024 revenue was approximately $699 million, representing a 4% increase compared to the prior year (5% on a constant currency basis) [5] - Fourth quarter 2024 reported gross margin was approximately 43.7%, with an adjusted gross margin of approximately 44.7%, an increase of 160 basis points compared to the prior year [5] - Fourth quarter 2024 reported EPS was approximately$ 1.14, while adjusted EPS was approximately $1.38, reflecting a 2% increase compared to the prior year on an adjusted basis [5] - Full year 2024 cash flow from operations was approximately$ 368 million [5] - The company reported preliminary net revenues of $699 million, which adjusted for foreign currency exchange would be$ 702 million [17] Inventory and Costs - Year-end 2024 inventory was approximately $390 million, a decrease of 22% compared to the prior year [5] - Preliminary restructuring and transformation costs for the fourth quarter included approximately$ 10 million related to business optimization activities [15] Strategic Initiatives - The acquisition of Helly Hansen was announced, which is expected to contribute to future growth and value creation [2] - Project Jeanius is anticipated to support continued brand investments and operational efficiencies [2] - The company expects to deliver strong returns and value creation in 2025 based on current positioning and strategic initiatives [2]