Form 8-K

8-K — Kontoor Brands, Inc.

Accession: 0001760965-26-000051

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0001760965

SIC: 2320 (MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS)

Item: Regulation FD Disclosure

Documents

8-K — ktb-20260805.htm (Primary)

EX-99.1 (a2026q2ktberex991discopsfi.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

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0001760965false00017609652026-08-052026-08-05

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): August 5, 2026

KONTOOR BRANDS, INC.

(Exact name of registrant as specified in charter)

North Carolina 001-38854 83-2680248

(State or other jurisdiction

of incorporation) (Commission file number) (I.R.S. employer

identification number)

400 N. Elm Street

Greensboro, North Carolina 27401

(Address of principal executive offices)

(336) 332-3400

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol(s) Name of Each Exchange on which Registered

Common Stock, no par value KTB New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01. Regulation FD Disclosure.

As previously disclosed, Kontoor Brands, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “Purchase Agreement”), on May 20, 2026, with ABG-Storm LLC, a Delaware limited liability company, an affiliate of Authentic Brands Group (“Buyer”) and The H.D. Lee Company, Inc., a Delaware corporation, a wholly-owned subsidiary of the Company (“Lee”). Pursuant to the terms and subject to the conditions set forth in the Purchase Agreement, the Company has agreed to sell to Buyer all of the outstanding shares of capital stock of Lee at closing.

The Company commenced a sale process of its global Lee business during the first quarter of 2026, with an expectation of completing a transaction during fiscal 2026. During the first quarter of 2026, the Company determined that the Lee business met held-for-sale criteria. Accordingly, the assets and liabilities of the Lee business were reported as held-for-sale in the balance sheets in the Company's first quarter of 2026 Form 10-Q. Additionally, the planned sale represents a strategic shift that will have a major effect on the Company's operations and financial results. Accordingly, the Company reported the Lee business as discontinued operations in its statements of operations and statements of cash flows in the first quarter of 2026 Form 10-Q.

In order to assist investors in understanding the impact of the sale of the Lee business on the Company’s financial results, the Company is furnishing Exhibit 99.1 to this Current Report which provides unaudited financial information for and as of, as applicable, each of the three months ended March 29, 2025, June 28, 2025 and September 27, 2025, and as of and for the three months and twelve months ended January 3, 2026, recast to present the Lee business on a discontinued operations basis. The financial information contained in this Current Report, including Exhibit 99.1 attached hereto, should be read in conjunction with the separate historical financial statements and accompanying notes contained in each of the Company’s Quarterly Reports on Form 10-Q for the interim periods included herein and Annual Report on Form 10-K for the fiscal year ended January 3, 2026.

The information in this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Forward-Looking Statements

Certain statements included in this current report are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “should,” “may” and other words and terms of similar meaning, including statements herein regarding the timing of the sale of the Lee business. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as required under the U.S. federal securities laws. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, such things as, whether and when the required regulatory approvals for the proposed sale of the Lee business will be obtained, whether and when the closing conditions will be satisfied and whether and when the proposed sale of the Lee business will close, if at all; our ability to execute, and realize benefits, successfully, or at all, from, the proposed sale of the Lee business; macroeconomic conditions, including inconsistent consumer demand despite recent declines in interest rates, fluctuating foreign currency exchange rates, moderating inflation and global supply chain issues, as well as the ongoing impact of tariffs and uncertainty regarding the outcome of trade negotiations, import/export regulations and tariff policies, continue to adversely impact global economic conditions and have had, and may continue to have, a negative impact on the Company's business, results of operations, financial condition and cash flows (including future uncertain impacts); our ability to deleverage on the anticipated time frame or at all; the level of consumer demand for apparel; reliance on a small number of large customers; potential difficulty in integrating Helly Hansen and/or in achieving the expected growth, cost savings and/or synergies from the acquisition; potential risks and uncertainties in completing the sale of the Lee business, if at all, and potential risks in segregating and disposing of the Lee business and the Company’s ability to mitigate any stranded costs from the potential disposition; supply chain and shipping disruptions, which could continue to result in shipping delays, an increase in transportation costs and increased product costs or lost sales; intense industry competition; the ability to accurately forecast demand for products; the Company’s ability to gauge consumer preferences and product trends, and to respond to constantly changing markets; the Company’s ability to maintain the images of its brands; disruption and volatility in the global capital and credit markets and its impact on the Company's ability to obtain short-term or long-term financing on favorable terms; the Company maintaining satisfactory credit ratings; restrictions on the Company’s business relating to its debt obligations; increasing pressure on margins; e-commerce operations through the Company’s direct-to-consumer business; the financial difficulty experienced by the retail industry; possible goodwill and other asset impairment; the ability to implement the Company’s business strategy; the stability of manufacturing facilities and foreign suppliers; fluctuations in wage rates and the price, availability and quality of raw materials and contracted products, including as a result of tariffs and reciprocal tariffs; the reliance on a limited number of suppliers for raw material sourcing and the ability to obtain raw materials on a timely basis or in sufficient quantity or quality; disruption to distribution systems; seasonality; unseasonal or severe weather conditions; potential challenges with the Company’s implementation of Project Jeanius; the Company's and its vendors’ ability to maintain the strength and security of information technology systems; the risk that facilities and systems and those of third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss or maintain operational performance; ability to properly collect, use, manage and secure consumer and employee data; legal, regulatory, political and economic risks; the impact of climate change and related legislative and regulatory responses;

stakeholder response to sustainability issues, including those related to climate change; compliance with anti-bribery, anti-corruption and anti-money laundering laws by the Company and third-party suppliers and manufacturers; changes in tax laws and liabilities; our ability to successfully utilize our share repurchase program; the costs of compliance with or the violation of national, state and local laws and regulations for environmental, consumer protection, employment, privacy, safety and other matters; continuity of members of management; labor relations; the ability to protect trademarks and other intellectual property rights; the ability of the Company’s licensees to generate expected sales and maintain the value of the Company’s brands; volatility in the price and trading volume of the Company’s common stock; anti-takeover provisions in the Company’s organizational documents; and fluctuations in the amount and frequency of our share repurchases. Many of the foregoing risks and uncertainties will be exacerbated by any worsening of the global business and economic environment.

More information on potential factors that could affect the Company's financial results are described in detail in the Company’s most recent Annual Report on Form 10-K and in other reports and statements that the Company files with the Securities and Exchange Commission.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1

Supplemental financial information

104 Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KONTOOR BRANDS, INC.

Date: August 5, 2026 By: /s/ Joseph A. Alkire

Name: Joseph A. Alkire

Title: Executive Vice President, Chief Financial Officer and Global Head of Operations

EX-99.1

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Document

Exhibit 99.1

KONTOOR BRANDS, INC.

Supplemental Financial Information

(Unaudited)

During the Company's first quarter of fiscal 2026, the Company determined that the Lee business met held-for-sale and discontinued operations accounting criteria. Accordingly, the assets and liabilities of the Lee business were reported as held-for-sale in the balance sheets in the Company's first quarter Form 10-Q. Additionally, the Company reported the Lee business as discontinued operations in its statements of operations and statements of cash flows.

The unaudited supplemental financial information provided below presents the Company's condensed consolidated financial information for and as of, as applicable, each of the four quarters in fiscal 2025 and the full year of fiscal 2025, as recast to present the Lee business on a discontinued operations basis.

The unaudited supplemental financial information provided below should be read in conjunction with the Company's separate historical financial statements and accompanying notes contained in each of the Company’s Quarterly Reports on Form 10-Q for the interim periods included herein and Annual Report on Form 10-K for the fiscal year ended January 3, 2026.

Non-GAAP Financial Measures

This unaudited supplemental financial information refers to “adjusted” and “organic” amounts from 2025, which are further described in the sections below. All per share amounts are presented on a diluted basis. Amounts as presented herein may not recalculate due to the use of unrounded numbers.

Adjusted Amounts - This release refers to “adjusted” amounts. Adjustments during 2025 represent (i) restructuring and transformation costs related to business optimization activities associated with Project Jeanius, (ii) actions to streamline and transfer select production within our internal manufacturing network and, (iii) acquisition and integration-related costs associated with the Helly Hansen acquisition. Additional information regarding adjusted amounts is provided in notes to the supplemental financial information.

Organic Amounts - This release refers to “organic” amounts, which represent operating results excluding contributions from the Helly

Hansen® and Musto® brands acquired on May 31, 2025.

Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented in the supplemental financial information included in this exhibit that identifies and quantifies all reconciling adjustments and provides management's view of why this non-GAAP information is useful to investors. While management believes that these non-GAAP measures are useful in evaluating the business, this information should be viewed in addition to, and not as an alternate for, reported results under GAAP. The non-GAAP measures used by the Company in this release may be different from similarly titled measures used by other companies.

KONTOOR BRANDS, INC.

Condensed Consolidated Statements of Operations

(Unaudited)

The following condensed consolidated statements of operations present the Company's unaudited financial information for each of the four quarters of fiscal 2025 and for the full year of fiscal 2025, as recast to present the Lee business on a discontinued operations basis.

Three Months Ended Twelve Months Ended

(Dollars and shares in thousands, except per share amounts) March 2025 June 2025 September 2025 December 2025 December 2025

Net revenues $ 423,001 $ 492,632 $ 666,472 $ 819,983 $ 2,402,088

Costs and operating expenses

Cost of goods sold 230,267 263,451 399,974 436,869 1,330,561

Selling, general and administrative expenses 161,365 172,233 229,084 281,507 844,189

Total costs and operating expenses 391,632 435,684 629,058 718,376 2,174,750

Operating income 31,369 56,948 37,414 101,607 227,338

Interest expense (9,808) (13,485) (18,972) (19,897) (62,162)

Interest income 3,319 2,820 289 422 6,850

Other (expense) income, net (10,293) 30,546 (3,049) (3,166) 14,038

Income from continuing operations before income taxes 14,587 76,829 15,682 78,966 186,064

Income taxes (4,338) (18,397) (1,310) (21,530) (45,575)

Income from equity method investment — 264 1,634 3,513 5,411

Income from continuing operations 10,249 58,696 16,006 60,949 145,900

Income from discontinued operations, net of tax 32,633 15,173 20,938 12,808 81,552

Net income $ 42,882 $ 73,869 $ 36,944 $ 73,757 $ 227,452

Earnings per common share - basic

Continuing operations $ 0.18 $ 1.06 $ 0.29 $ 1.10 $ 2.63

Discontinued operations $ 0.59 $ 0.27 $ 0.37 $ 0.23 $ 1.47

Total earnings per common share - basic $ 0.77 $ 1.33 $ 0.66 $ 1.33 $ 4.10

Earnings per common share - diluted

Continuing operations $ 0.18 $ 1.05 $ 0.29 $ 1.08 $ 2.60

Discontinued operations $ 0.58 $ 0.27 $ 0.37 $ 0.23 $ 1.45

Total earnings per common share - diluted $ 0.76 $ 1.32 $ 0.66 $ 1.31 $ 4.05

Weighted average shares outstanding

Basic 55,355 55,560 55,575 55,507 55,500

Diluted 56,059 55,975 56,069 56,327 56,108

Basis of presentation for all financial tables within this release: The supplemental financial information provided in the financial tables presents the Company's unaudited condensed consolidated financial information for and as of, as applicable, each of the four quarters in fiscal 2025 and the full year of fiscal 2025, as recast to present the Lee business on a discontinued operations basis.

The Company operates and reports using a 52/53-week fiscal year ending on the Saturday closest to December 31 each year. For presentation purposes herein, all references to periods ended March 2025, June 2025 and September 2025 correspond to the 13-week fiscal periods ended March 29, 2025, June 28, 2025 and September 27, 2025, respectively, and references to December 2025 correspond to the 14-week and 53-week fiscal periods ended January 3, 2026. References to March 2025, June 2025, September 2025 and December 2025 relate to the balance sheets as of March 29, 2025, June 28, 2025, September 27, 2025 and January 3, 2026, respectively.

KONTOOR BRANDS, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

The following condensed consolidated balance sheets present the Company's unaudited financial information for each of the four quarters of fiscal 2025, as recast to present the Lee business on a discontinued operations basis.

(In thousands) March 2025 June 2025 September 2025 December 2025

ASSETS

Current assets

Cash and cash equivalents $ 320,790 $ 85,914 $ 57,918 $ 77,215

Accounts receivable, net 131,958 237,530 279,813 209,419

Inventories 298,810 543,130 604,016 435,945

Prepaid expenses and other current assets 57,371 93,446 95,149 102,056

Current assets of discontinued operations 278,849 255,756 301,157 256,481

Total current assets 1,087,778 1,215,776 1,338,053 1,081,116

Property, plant and equipment, net 82,955 119,239 114,395 113,285

Operating lease assets 18,931 124,163 118,618 110,330

Intangible assets, net 6,791 447,058 449,698 445,584

Goodwill 129,034 407,985 438,459 451,006

Other assets 176,045 228,911 228,466 212,294

Other assets of discontinued operations 174,145 174,773 175,082 169,057

TOTAL ASSETS $ 1,675,679 $ 2,717,905 $ 2,862,771 $ 2,582,672

LIABILITIES AND EQUITY

Current liabilities

Current portion of long-term debt $ — $ — $ — $ 8,750

Accounts payable 161,240 217,110 272,611 195,560

Accrued and other current liabilities 112,481 197,366 244,184 237,864

Operating lease liabilities, current 10,328 27,701 26,401 22,418

Current liabilities of discontinued operations 107,091 116,196 159,091 129,035

Total current liabilities 391,140 558,373 702,287 593,627

Operating lease liabilities, noncurrent 10,464 98,945 96,440 95,422

Other liabilities 77,484 161,059 158,059 164,431

Long-term debt 735,640 1,366,510 1,342,117 1,134,579

Other liabilities of discontinued operations 34,279 34,671 34,252 29,746

Total liabilities 1,249,007 2,219,558 2,333,155 2,017,805

Commitments and contingencies

Total equity 426,672 498,347 529,616 564,867

TOTAL LIABILITIES AND EQUITY $ 1,675,679 $ 2,717,905 $ 2,862,771 $ 2,582,672

KONTOOR BRANDS, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

The following condensed consolidated statements of cash flows present the Company's unaudited financial information for each of the four quarters of fiscal 2025, on a year-to-date basis, as recast to present the Lee business on a discontinued operations basis.

Year-to-Date

(In thousands) March 2025 June 2025 September 2025 December 2025

OPERATING ACTIVITIES

Net income $ 42,882 $ 116,751 $ 153,695 $ 227,452

Income from discontinued operations, net of tax 32,633 47,806 68,743 81,552

Income from continuing operations, net of tax 10,249 68,945 84,952 145,900

Adjustments to reconcile net income to cash provided by operating activities:

Depreciation and amortization 7,349 16,523 29,994 42,688

Stock-based compensation 14,041 19,929 28,421 37,393

Other, including working capital changes 22,388 (36,608) (33,584) 135,913

Cash provided by operating activities - continuing operations 54,027 68,789 109,783 361,894

Cash provided by operating activities - discontinued operations 23,598 34,519 57,671 93,915

Cash provided by operating activities 77,625 103,308 167,454 455,809

INVESTING ACTIVITIES

Property, plant and equipment expenditures (2,318) (5,309) (12,831) (18,307)

Capitalized computer software (1,337) (2,165) (3,008) (3,820)

Business acquisition, net of cash received — (870,058) (899,372) (901,223)

Proceeds from the settlement of foreign exchange contracts to hedge business acquisition — 24,115 24,115 24,115

Proceeds from sales of assets — 2 4,028 5,913

Other 508 — 584 584

Cash used by investing activities - continuing operations (3,147) (853,415) (886,484) (892,738)

Cash used by investing activities - discontinued operations (1,615) (2,009) (3,436) (6,026)

Cash used by investing activities (4,762) (855,424) (889,920) (898,764)

FINANCING ACTIVITIES

Borrowings under revolving credit facility — — — 50,000

Repayments under revolving credit facility — — — (50,000)

Proceeds from issuance of long-term debt — 1,000,000 1,000,000 1,000,000

Payment of debt issuance costs — (7,433) (7,433) (7,433)

Repayments of term loan (5,000) (370,000) (395,000) (595,000)

Repurchases of Common Stock — — — (25,000)

Dividends paid (28,824) (57,717) (86,618) (116,085)

Shares withheld for taxes, net of proceeds from issuance of Common Stock (4,052) (8,555) (9,092) (9,683)

Cash (used) provided by financing activities (37,876) 556,295 501,857 246,799

Effect of foreign currency rate changes on cash and cash equivalents (12,343) (30,763) (31,029) (29,468)

Net change in cash and cash equivalents 22,644 (226,584) (251,638) (225,624)

Cash and cash equivalents – beginning of period 334,066 334,066 334,066 334,066

Cash and cash equivalents – end of period $ 356,710 $ 107,482 $ 82,428 $ 108,442

KONTOOR BRANDS, INC.

Supplemental Financial Information

Reconciliation of Adjusted Financial Measures (Non-GAAP)

(Unaudited)

Three Months Ended Twelve Months Ended

(Dollars in thousands, except per share amounts) March 2025 June 2025 September 2025 December 2025 December 2025

Net revenues - as reported under GAAP $ 423,001 $ 492,632 $ 666,472 $ 819,983 $ 2,402,088

Contribution from Helly Hansen (a)

— 29,232 192,650 253,617 475,485

Organic net revenues

$ 423,001 $ 463,400 $ 473,822 $ 566,366 $ 1,926,603

Cost of goods sold - as reported under GAAP $ 230,267 $ 263,451 $ 399,974 $ 436,869 $ 1,330,561

Restructuring and transformation costs (b)

(1,348) (893) (38,455) (5,645) (46,341)

Adjusted cost of goods sold 228,919 262,558 361,519 431,224 1,284,220

Contribution from Helly Hansen (a)

— 14,111 108,526 121,142 243,779

Adjusted organic cost of goods sold

$ 228,919 $ 248,447 $ 252,993 $ 310,082 $ 1,040,441

Gross margin - as reported under GAAP $ 192,734 $ 229,181 $ 266,498 $ 383,114 $ 1,071,527

Restructuring and transformation costs (b)

1,348 893 38,455 5,645 46,341

Adjusted gross margin 194,082 230,074 304,953 388,759 1,117,868

Contribution from Helly Hansen (a)

— 15,121 84,124 132,475 231,706

Adjusted organic gross margin $ 194,082 $ 214,953 $ 220,829 $ 256,284 $ 886,162

Selling, general and administrative expenses - as reported under GAAP $ 161,365 $ 172,233 $ 229,084 $ 281,507 $ 844,189

Restructuring and transformation costs (b)

(11,156) (6,503) (7,558) (9,041) (34,258)

Acquisition and integration-related costs (c)

(10,326) (14,040) (11,998) (14,470) (50,834)

Adjusted selling, general and administrative expenses 139,883 151,690 209,528 257,996 759,097

Contribution from Helly Hansen (a)

— 20,430 73,767 92,403 186,600

Adjusted organic selling, general and administrative expenses

$ 139,883 $ 131,260 $ 135,761 $ 165,593 $ 572,497

Other (expense) income, net - as reported under GAAP $ (10,293) $ 30,546 $ (3,049) $ (3,166) $ 14,038

Acquisition and integration-related costs (c)

8,865 (32,980) — — (24,116)

Adjusted other expense, net $ (1,428) $ (2,434) $ (3,049) $ (3,166) $ (10,078)

Income Taxes as reported under GAAP $ (4,338) $ (18,397) $ (1,310) $ (21,530) $ (45,575)

Tax impact of Restructuring and transformation costs, and Acquisition and integration-related costs (b) (c)

(7,338) 5,336 (14,031) (5,339) (21,300)

Adjusted Income Taxes, net $ (11,676) $ (13,061) $ (15,341) $ (26,869) $ (66,875)

Diluted earnings per share from continuing operations - as reported under GAAP $ 0.18 $ 1.05 $ 0.29 $ 1.08 $ 2.60

Impact to diluted earnings per share of Restructuring and transformation costs, and Acquisition and integration-related costs (b) (c)

0.44 (0.11) 0.78 0.42 1.54

Adjusted diluted earnings per share from continuing operations $ 0.62 $ 0.94 $ 1.07 $ 1.50 $ 4.14

Contribution from Helly Hansen (a)

— (0.12) 0.03 0.44 0.35

Adjusted organic diluted earnings per share from continuing operations $ 0.62 $ 1.06 $ 1.04 $ 1.06 $ 3.79

Adjusted diluted earnings per share from continuing operations $ 0.62 $ 0.94 $ 1.07 $ 1.50 $ 4.14

Adjusted diluted earnings per share from discontinued operations 0.58 0.27 0.37 0.23 1.45

Adjusted diluted earnings per share $ 1.20 $ 1.21 $ 1.44 $ 1.73 $ 5.59

KONTOOR BRANDS, INC.

Supplemental Financial Information

Reconciliation of Adjusted Financial Measures (Non-GAAP)

(Unaudited)

Net income from continuing operations - as reported under GAAP $ 10,249 $ 58,696 $ 16,006 $ 60,949 $ 145,900

Income taxes 4,338 18,397 1,310 21,530 45,575

Interest expense 9,808 13,485 18,972 19,897 62,162

Interest income (3,319) (2,820) (289) (422) (6,850)

EBIT from continuing operations $ 21,076 $ 87,758 $ 35,999 $ 101,954 $ 246,787

Depreciation and amortization 7,349 9,174 13,471 12,694 42,688

EBITDA from continuing operations $ 28,425 $ 96,932 $ 49,470 $ 114,648 $ 289,475

Restructuring and transformation costs (b)

12,504 7,396 46,013 14,686 80,599

Acquisition and integration-related costs (c)

19,191 (18,940) 11,998 14,470 26,718

Adjusted EBITDA from continuing operations $ 60,120 $ 85,388 $ 107,481 $ 143,804 $ 396,792

As a percentage of total net revenues 14.2 % 17.3 % 16.1 % 17.5 % 16.5 %

Adjusted EBITDA from discontinued operations 43,511 21,821 26,808 19,706 111,846

Adjusted EBITDA $ 103,631 $ 107,209 $ 134,289 $ 163,510 $ 508,638

Non-GAAP Financial Information: The financial information above has been presented on a GAAP basis, on an adjusted basis and on an adjusted organic basis, which excludes the operating results from the Helly Hansen acquisition. EBIT, EBITDA and adjusted presentations are non-GAAP measures. See “Notes to Supplemental Financial Information - Reconciliation of Adjusted and Adjusted Organic Financial Measures” at the end of this document. Amounts herein may not recalculate due to the use of unrounded numbers..

(a) Contribution from Helly Hansen represents the adjusted operating results from the Helly Hansen® and Musto® brands acquired on May 31, 2025.

(b) See Note 1 of “Notes to Supplemental Financial Information - Reconciliation of Adjusted and Adjusted Organic Financial Measures” at the end of this document.

(c) See Note 2 of “Notes to Supplemental Financial Information - Reconciliation of Adjusted and Adjusted Organic Financial Measures” at the end of this document.

KONTOOR BRANDS, INC.

Supplemental Financial Information

Summarized Discontinued Operations Financial Information

(Unaudited)

The following table presents the unaudited financial information for the Lee segment for each of the four quarters of fiscal 2025 and for the full year of fiscal 2025, as recast to present the Lee business on a discontinued operations basis.

Three Months Ended Twelve Months Ended

(In thousands) March 2025 June 2025 September 2025 December 2025 December 2025

Net revenues $ 199,900 $ 165,627 $ 186,743 $ 198,098 $ 750,368

Cost of goods sold 96,998 89,971 101,080 110,457 398,506

Selling, general and administrative expenses 60,972 54,067 59,225 68,128 242,392

Interest income 121 77 60 191 449

Other (expense) income, net (707) (785) (860) (370) (2,722)

Income from discontinued operations before income taxes 41,344 20,881 25,638 19,334 107,197

Income taxes (8,711) (5,708) (4,700) (6,526) (25,645)

Income from discontinued operations, net of tax 32,633 15,173 20,938 12,808 81,552

Certain corporate overhead costs and segment costs previously allocated to Lee for segment reporting purposes did not qualify for classification within discontinued operations and have been reported in continuing operations for all periods presented in this Form 8-K. The table below presents these previously allocated costs for the three months ended March 2025, June 2025, September 2025 and December 2025, and the twelve months ended December 2025.

Three Months Ended Twelve Months Ended

(In thousands) March 2025 June 2025 September 2025 December 2025 December 2025

Cost of goods sold 1,010 556 1,273 1,879 4,718

Selling, general and administrative expenses 7,766 7,831 7,594 9,898 33,089

Total costs previously allocated to the Lee segment 8,776 8,387 8,867 11,777 37,807

The table below reconciles Lee segment profit, as previously reported, to income from discontinued operations before income taxes for the Lee business for each of the four quarters of fiscal 2025 and for the full year of fiscal 2025.

Three Months Ended Twelve Months Ended

(In thousands) March 2025 June 2025 September 2025 December 2025 December 2025

Lee segment profit $ 32,447 $ 12,417 $ 16,711 $ 7,366 $ 68,941

Total costs previously allocated to the Lee segment 8,776 8,387 8,867 11,777 37,807

Interest income 121 77 60 191 449

Income from discontinued operations before income taxes 41,344 20,881 25,638 19,334 107,197

KONTOOR BRANDS, INC.

Supplemental Financial Information

Reconciliation of Adjusted and Adjusted Organic Financial Measures - Notes (Non-GAAP)

(Unaudited)

Notes to Supplemental Financial Information - Reconciliation of Adjusted and Adjusted Organic Financial Measures

Management uses non-GAAP financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. In addition, adjusted EBITDA is a key financial measure for the Company's shareholders and financial leaders, as the Company's debt financing agreements require the measurement of adjusted EBITDA, along with other measures, in connection with the Company's compliance with debt covenants. While management believes that these non-GAAP measures are useful in evaluating the business, this information should be considered supplemental in nature and should be viewed in addition to, and not as an alternate for, reported results under GAAP. In addition, these non-GAAP measures may be different from similarly titled measures used by other companies.

(1) During the three months ended March 2025, restructuring and transformation costs included $0.9 million related to streamlining and transferring select production within our internal manufacturing network and $0.4 million related to business optimization activities, recorded to "cost of goods sold", and $11.2 million related to business optimization activities, recorded to "selling, general and administrative expenses." Total restructuring and transformation costs resulted in a corresponding tax impact of $2.9 million for the three months ended March 2025.

During the three months ended June 2025, restructuring and transformation costs included $0.5 million related to streamlining and transferring select production within our internal manufacturing network and $0.4 million related to business optimization activities, recorded to "cost of goods sold", and $6.5 million related to business optimization activities, recorded to "selling, general and administrative expenses." Total restructuring and transformation costs resulted in a corresponding tax impact of $1.6 million for the three months ended June 2025.

During the three months ended September 2025, restructuring and transformation costs included $38.1 million related to the closure of a portion of our manufacturing facilities and $0.4 million related to streamlining and transferring select production within our internal manufacturing network, recorded to "cost of goods sold", and $7.6 million related to business optimization activities, recorded to "selling, general and administrative expenses." Total restructuring and transformation costs resulted in a corresponding tax impact of $11.1 million for the three months ended September 2025.

During the three months ended December 2025, restructuring and transformation costs included $5.7 million related to the closure of a portion of our manufacturing facilities, recorded to "cost of goods sold", and $9.0 million related to business optimization activities, recorded to "selling, general and administrative expenses." Total restructuring and transformation costs resulted in a corresponding tax impact of $2.7 million for the three months ended December 2025.

During the twelve months ended December 2025, restructuring and transformation costs included $43.8 million related to the closure of a portion of our manufacturing facilities, $1.8 million of charges related to streamlining and transferring select production within our internal manufacturing network and $0.8 million related to business optimization activities, recorded to "cost of goods sold", and $34.3 million related to business optimization activities, recorded to "selling, general and administrative expenses." Total restructuring and transformation costs resulted in a corresponding tax impact of $16.0 million for the twelve months ended December 2025.

(2) During the three months ended March 2025, acquisition and integration-related costs included $10.3 million of professional and other fees and $8.9 million of losses related to foreign currency exchange contracts to hedge the purchase price of the Helly Hansen acquisition. Acquisition-related costs resulted in a corresponding tax impact of $4.4 million for the three months ended March 2025.

During the three months ended June 2025, acquisition and integration-related benefits included $33.0 million of gains related to foreign currency exchange contracts to hedge the purchase price of the Helly Hansen acquisition, and $14.0 million of professional and other fees. Total acquisition and integration-related benefits resulted in a corresponding tax impact of $(6.9) million for the three months ended June 2025.

During the three months ended September 2025, acquisition and integration-related costs included $12.0 million of professional and other fees. Total acquisition and integration-related costs resulted in a corresponding tax impact of $2.9 million for the three months ended September 2025.

During the three months ended December 2025, acquisition and integration-related costs included $14.5 million of professional and other fees. Total acquisition and integration-related costs resulted in a corresponding tax impact of $2.7 million for the three months ended December 2025.

During the twelve months ended December 2025, acquisition and integration-related costs included $50.8 million of professional and other fees and $24.1 million of gains related to foreign currency exchange contracts to hedge the purchase price of the Helly Hansen acquisition. Total acquisition and integration-related costs resulted in a corresponding tax impact of $5.3 million for the twelve months ended December 2025.

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