Kontoor Brands shares rise following strong Q2 results and stock buyback news

Kontoor Brands, the parent company of Wrangler and Helly Hansen, reported second-quarter 2026 revenue of $584 million, a 19% increase year over year. Adjusted earnings rose 13% to $1.06 per diluted share. The company's Wrangler brand accounted for 76% of total sales, while Helly Hansen contributed 23%.

As part of a strategic restructuring, Kontoor Brands is divesting its Lee brand to Authentic Brands in a deal valued between $750 million and $1 billion. The company intends to use $400 million from this transaction to accelerate its stock buyback program.

Management has raised its full-year adjusted earnings guidance to a midpoint of $5.30 per share, up from the previous guidance of $5.20. Both Wrangler and Helly Hansen are projected to see mid-single-digit sales growth in the second half of the year.