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KONTOOR KONTOOR BRANDS REPORTS FIRST QUARTER 2021 RESULTS ; RAISES OUTLOOK FOR FISCAL 2021 Q1 Reported EPS of $ 1.09 ; Adjusted EPS of $ 1.43 Q1 Reported Revenue of $ 652 million increased 29 percent compared to the prior year Q1 Reported Gross Margin increased 830 basis points to 46.1 percent compared to the prior year Strong cash generation supported discretionary debt repayments totaling $ 100 million in the first quarter Fiscal 2021 guidance raised ; Adjusted EPS is now expected to be $ 3.70 to $ 3.80 , up from the prior range of $ 3.50 to $ 3.60 GREENSBORO , N.C. - May 6 , 2021 - 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 reported financial results for its first quarter ended April 3 , 2021 . TM " We started 2021 with solid momentum , as our first quarter results came in above our expectations . The strong performance in the quarter was broad - based , as evidenced by improving growth across regions , channels and categories . We continue to execute the strategic playbook we've communicated , as structural margin gains support focused investments in demand creation , infrastructure and technologies . These critical investments are driving accelerating fundamentals that are expected to unlock further value for all KTB stakeholders , " said Scott Baxter , President and Chief Executive Officer , Kontoor Brands . " As we transition into our next horizon , the stage is set for us to pivot to growth . I want to thank our teams around the world for their incredible efforts over the last few years to position Kontoor for future success . We are in the very early days of our journey and remain determined to deliver on the tremendous opportunities ahead . We look forward to sharing more details on our strategic vision at our upcoming Investor Day on May 24 , 2021 , " added Baxter . This release refers to " adjusted " amounts and " constant currency " amounts , which are further described in the Non - GAAP Financial Measures section below . All per share amounts are presented on a diluted basis . First Quarter 2021 Income Statement Review In addition , due to the significant impact of COVID - 19 on prior year figures , this release will also include periodic comparisons to 2019 for additional context . Revenue increased to $ 652 million , a 29 percent increase on a reported basis and 27 percent in constant currency over the same period in the prior year . Compared to adjusted revenue in the first quarter of 2019 , reported revenue increased 3 percent .