Page 1

Exhibit 99.1 KONTOOR KONTOOR BRANDS REPORTS SECOND QUARTER 2021 RESULTS ; RAISES OUTLOOK FOR FISCAL 2021 Q2 Reported EPS of $ 0.40 ; Adjusted EPS of $ 0.70 Q2 Reported Revenue of $ 491 million increased 41 percent compared to the prior year Q2 Reported Gross Margin of 46.1 percent increased 760 basis points compared to the prior year The Company's Board of Directors has authorized a $ 200 million share repurchase program Fiscal 2021 guidance raised ; Adjusted EPS is now expected to be $ 3.90 to $ 4.00 , up from the prior range of $ 3.70 to $ 3.80 GREENSBORO , N.C. - August 5 , 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 second quarter ended July 3 , 2021 . " Kontoor's strong second quarter results , which came in above our expectations , and our improving fundamentals give us confidence to raise full year guidance . As discussed at our recent Investor Day , we expect to catalyze sustained , profitable growth across channels , categories and geographies , fueled by investments in key enablers within talent , demand creation , digital and sustainability , ” said Scott Baxter , President and Chief Executive Officer , Kontoor Brands . " Additionally , we are well positioned to take advantage of increasing optionality in our capital allocation strategy . Today's announcement of a $ 200 million share repurchase program exemplifies this enhanced optionality , and reflects the strong cash flow generation of our business . " " I want to thank all of our Kontoor colleagues around the globe for their continued focus on operational execution . Our incredible people , dedicated to excellence and taking care of one another , will drive Kontoor's bright future ahead , " added Baxter . TM 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 . 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 . Second Quarter 2021 Income Statement Review Revenue increased to $ 491 million , a 41 percent increase on a reported basis and 37 percent in constant currency over the same period in the prior year .