Kontoor Brands Announces Actions to Strengthen Financial Position Including Drawing Down on Revolving Credit Facility
Kontoor Brands, Inc. (KTB)
Last kontoor brands, inc. earnings: 3/5 06:50 am
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Source: Business Wire
GREENSBORO, N.C.--(BUSINESS WIRE)--Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today announced several actions being taken to navigate the uncertainty associated with the COVID-19 virus.“Our thoughts are with those affected during this difficult time. We are implementing additional strategic measures that will strengthen our operational and financial position and enable us to achieve continued success when conditions normalize,” said Scott Baxter, President and Chief Executive Officer, Kontoor Brands.As a precautionary measure, the Company has drawn down $475.0 million from its revolving credit facility to increase financial flexibility, strengthen the Company’s near-term cash position and provide additional funding for working capital.As a result of the uncertainty and significant business impacts caused by COVID-19, Kontoor is withdrawing its 2020 guidance provid
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KTB
Earnings
- 10/31/24 - Beat
KTB
Sec Filings
- 11/21/24 - Form 4
- 11/20/24 - Form 144
- 11/20/24 - Form 144
- KTB's page on the SEC website