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● KONTOOR KONTOOR BRANDS REPORTS THIRD QUARTER 2021 RESULTS ; RAISES OUTLOOK FOR FISCAL 2021 Q3 Reported EPS of $ 1.07 ; Adjusted EPS of $ 1.28 Q3 Reported Revenue of $ 652 million increased 12 percent compared to the prior year Q3 Reported Gross Margin of 44.4 percent increased 20 basis points compared to the prior year ; Q3 Adjusted Gross Margin of 44.1 percent increased 80 basis points compared to the prior year Fiscal 2021 guidance raised ; Adjusted EPS is now expected to be $ 4.15 to $ 4.20 , up from the prior range of $ 3.90 to $ 4.00 GREENSBORO , N.C. - November 4 , 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 third quarter ended October 2 , 2021 . " Kontoor is uniquely positioned to win in the marketplace , as evidenced by another quarter of broad - based strength across segments , channels and regions . And we expect our momentum to continue building , as reflected in our raised fiscal year guidance . Our strategic investments in key TSR - bolstering enablers such as digital , demand creation and people should fuel our accelerating fundamentals , " said Scott Baxter , President and Chief Executive Officer , Kontoor Brands . " Additionally , our balanced capital allocation strategy affords us enhanced optionality . We are continuing to invest in pillars of growth , while also delivering superior cash returns to our stakeholders . This is highlighted in the recently announced dividend increase and initial share repurchases during the third quarter , " 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 . Third 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 12 percent increase on a reported basis and 11 percent in constant currency over the same period in the prior year . Revenue increases compared to the prior year were primarily driven by strength in Digital , including own.com and digital wholesale , as well as improved performance across the U.S. wholesale business and positive trends in international markets . Gains in the quarter were