Why Kontoor Brands Is Jumping 17% Higher This Week
Shares of Kontoor Brands (NYSE: KTB) are soaring 17.5% higher this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence, after the denim maker reported fourth-quarter earnings results that beat Wall Street forecasts on the top and bottom lines.
Kontoor Brands said it earned $0.88 per share for the period on $732 million in revenue compared to analyst expectations of profits of $0.67 per share on sales of $669 million. The company is the owner of the Wrangler and Lee jeans brands.
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Source Fool.com
