logo
US' Kontoor Brands elevates Broyles, Alkire to key leadership roles

US' Kontoor Brands elevates Broyles, Alkire to key leadership roles

Fibre2Fashion5 days ago
Kontoor Brands, Inc. (NYSE: KTB), announced that Jenni Broyles and Joseph Alkire will assume expanded roles on Kontoor's Executive Leadership Team, effective immediately.
'Jenni and Joe have earned these expanded roles through proven performance and strategic leadership, a testament to the depth of talent we are cultivating at Kontoor Brands,' said Kontoor's President, Chief Executive Officer and Chairman, Scott Baxter . 'This leadership team has the vision and expertise to guide Kontoor's strategic evolution as we expand our portfolio of brands, accelerate growth and continue to deliver long-term value for our shareholders.'
Kontoor Brands has elevated Jenni Broyles to EVP, chief commercial officer and global head of brands, and Joseph Alkire to EVP, CFO and global head of operations. Both report to CEO Scott Baxter. Tom Waldron will exit the company after a transition ending September 30. CEO Baxter praised the leadership team's depth and vision for driving long-term growth.
Broyles will assume leadership responsibility for all international and commercial operations for the Lee and Wrangler brands in the role of Executive Vice President, Chief Commercial Officer & Global Head of Brands, reporting to Kontoor's President, Chief Executive Officer and Chairman, Scott Baxter.
Alkire will assume leadership responsibility for Kontoor's supply chain operations in the role of Executive Vice President, Chief Financial Officer & Global Head of Operations, reporting to Kontoor's President, Chief Executive Officer and Chairman, Scott Baxter.
The Helly Hansen business will continue reporting to Scott Baxter.
Tom Waldron, Executive Vice President and Chief Operating Officer, will exit Kontoor Brands after a transition period that will conclude September 30.
'I want to recognize and express my gratitude to Tom for his more than six years of leadership at Kontoor as well as his time at our predecessor company,' said Baxter . 'Tom has played an important role in our company, and we wish him well in his future endeavors.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US' Caleres buys Stuart Weitzman, names Lelonek brand head
US' Caleres buys Stuart Weitzman, names Lelonek brand head

Fibre2Fashion

time12 hours ago

  • Fibre2Fashion

US' Caleres buys Stuart Weitzman, names Lelonek brand head

Caleres (NYSE: CAL) ( a market-leading portfolio of consumer-driven footwear brands, announced it has closed on the acquisition of Stuart Weitzman from Tapestry, Inc. for $120.2 million, which included $11.5 million in cash received at the closing. Excluding cash received at the closing, the net purchase price was $108.7 million. The purchase price is subject to final adjustments for net working capital. The agreement to acquire Stuart Weitzman was originally announced in February 2025. This strategic acquisition further strengthens Caleres' position in the global footwear market and adds a storied name in luxury footwear to its diverse brand portfolio. With its legacy of craftsmanship, innovation and iconic style, Stuart Weitzman furthers Caleres' ambition to lead with brands that have unique meaning and resonance with consumers. Jonathan Lelonek, who joined Stuart Weitzman in 2012 and most recently served as SVP of global wholesale, has been named Stuart Weitzman brand president. Lelonek brings deep industry experience and a strong track record in luxury and contemporary footwear, having previously held senior roles in sales and merchandising at Prada, Salvatore Ferragamo and Paul Frank. Caleres has acquired luxury footwear brand Stuart Weitzman, strengthening its global position and adding to its diverse brand portfolio. Jonathan Lelonek has been appointed brand president. With $220 million in trailing 12-month sales, the brand will now be integrated into Caleres' portfolio, which will account for nearly half of total revenue. 'Stuart Weitzman is one of the most iconic names in luxury footwear, and the brand's original designs have embodied elegance and modernity for decades. We are honored to welcome Stuart Weitzman to Caleres as our newest lead brand and to congratulate Jonathan on his appointment as brand president,' said Jay Schmidt, president and CEO of Caleres . 'With the addition of Stuart Weitzman, our Brand Portfolio segment will represent nearly half of our total revenue going forward. As we integrate this iconic brand, we remain committed to preserving the artistry, quality and renowned fit at the brand's core.' Stuart Weitzman generated trailing 12-month sales of approximately $220 million and maintains a strong presence in North America, Europe and Asia across both wholesale and direct-to-consumer channels. Caleres expects to leverage its capabilities and expertise in footwear to return the brand to profitability after a period of transition and integration through the balance of this fiscal year. The acquisition of Stuart Weitzman was funded through Caleres' revolving credit agreement. BofA Securities served as Caleres' financial advisor on the acquisition and Bryan Cave Leighton Paisner acted as legal counsel. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)

Global market news: US stock market logs biggest percentage gain since May 27; Tesla, NVIDIA, Microsoft shares rise
Global market news: US stock market logs biggest percentage gain since May 27; Tesla, NVIDIA, Microsoft shares rise

Mint

timea day ago

  • Mint

Global market news: US stock market logs biggest percentage gain since May 27; Tesla, NVIDIA, Microsoft shares rise

Global market news: On Monday, all three key benchmark indices of the US stock market — Dow Jones, S&P 500, and NASDAQ — registered their biggest daily percentage increases since May 27, as investors sought bargains after the previous session's selloff and ramped up bets for a September interest rate cut after Friday's weaker-than-expected jobs data. The Dow Jones Industrial Average rallied 585.06 points, or 1.34%, to 44,173.64, while the S&P 500 gained 91.93 points, or 1.47%, at 6,329.94. The Nasdaq Composite closed 403.45 points, or 1.95%, higher at 21,053.58. Among US majors, Tesla share price rose 2.2%, Nvidia stock price surged 3.62%, Microsoft shares rallied 2.20% and Advanced Micro Devices stock gained 2.99%. Joby Aviation shares jumped 18.8 and Blade Air stock price spiked 17.2%. Berkshire Hathaway shares fell 2.7%. However, Berkshire Hathaway share price fell 2.7% as investors took in a $3.8 billion write-down and a dip in quarterly operating profit that the firm disclosed on Saturday. Advancing issues outnumbered decliners by a 4.48-to-1 ratio on the NYSE. There were 136 new highs and 51 new lows on the NYSE. "Today is just a little bit of dip-buying. It does show a pretty healthy sign of folks out there looking for an opportunity to get in," said Mike Dickson, head of research and quantitative strategies at Horizon Investments in Charlotte, North Carolina. "It's a little concerning in the sense the labor market ... definitely appears to be weaker than people expected. A bit of an offset to that is the renewed rate cut expectations. There's a high probability we're getting a September cut." On the Nasdaq, 3,487 stocks rose and 1,090 fell as advancers outnumbered decliners by a 3.2-to-1 ratio. Volume on U.S. exchanges was 15.05 billion shares, compared with the 18.37 billion average for the full session over the last 20 trading days. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Hims & Hers Q2 revenue drop shakes stock—Hims crashes 11% after first-ever revenue decline, is the weight-loss drug hype finally fading?
Hims & Hers Q2 revenue drop shakes stock—Hims crashes 11% after first-ever revenue decline, is the weight-loss drug hype finally fading?

Economic Times

timea day ago

  • Economic Times

Hims & Hers Q2 revenue drop shakes stock—Hims crashes 11% after first-ever revenue decline, is the weight-loss drug hype finally fading?

Hims & Hers Health (NYSE: HIMS) saw its stock plunge over 11% after the company reported its Q2 2025 earnings, marking its first-ever sequential revenue decline. While revenue jumped 73% year-over-year to $544.8 million, it still fell short of Wall Street's expectations of $552 million, and notably dropped from $586 million in Q1. The miss has rattled investor confidence, especially as GLP-1 weight-loss drug sales, a key growth driver, showed signs of slowing amid regulatory pressure and legal setbacks. Synopsis Hims & Hers stock dropped a sharp 11% after the company missed Q2 2025 revenue estimates, raising concerns about its booming weight-loss drug business. While year-over-year sales jumped 73%, revenue fell sequentially for the first time, causing investor worry. The company brought in $544.8 million, short of forecasts, with much of it tied to its GLP-1 obesity drug offerings. Hims & Hers Health (NYSE: HIMS), the fast-growing telehealth company known for its personalized care plans and buzzy entry into the weight-loss market, saw its stock drop by over 11% after reporting second-quarter 2025 earnings. While revenue jumped 73% year-over-year, the company missed Wall Street expectations and posted its first-ever sequential revenue decline, raising questions about the future of its GLP-1 obesity drug business. ADVERTISEMENT Despite its rapid annual growth, Hims & Hers posted Q2 revenue of $544.8 million, missing the analyst estimate of $552 million. The real concern? Revenue dropped from $586 million in Q1, marking the first quarter-over-quarter decline since the company went public. The stock currently trades at $63.35, regaining some ground after hitting an intraday low of $54.82. Despite opening at $64.00, it remains volatile, with an intraday high of $65.54. ALSO READ: Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door? The market reacted sharply to the company's revenue miss—$544.8 million vs. $552 million expected—even though earnings per share beat expectations and subscriber numbers remained strong. Most of the company's revenue stemmed from its GLP-1-based obesity and diabetes treatments, a booming but increasingly scrutinized business segment. ALSO READ: Palantir stock soars after $1B Q2 earnings crush forecasts as AI demand fuels 110% YTD surge—now S&P 500's top performer ADVERTISEMENT With regulatory pressures, lawsuits from Novo Nordisk, and tighter FDA rules on compounded semaglutide, Hims faces headwinds in its fastest-growing segment. However, with a market cap of over $6.5 billion, a P/E ratio of 39.93, and forward-looking confidence via its Zava acquisition, the company is still betting big on growth in both the U.S. and Europe. Current Price : $63.35 : $63.35 Day Range : $54.82 – $65.54 : $54.82 – $65.54 Open : $64.00 : $64.00 Market Cap: $6.56 Billion P/E Ratio : 39.93 : 39.93 Volume: 35.5M Investors were caught off guard, as the slowdown came amid soaring demand for weight-loss drugs like semaglutide, a compound similar to the active ingredient in Wegovy and Ozempic. ADVERTISEMENT On the profit front, Hims reported an adjusted EPS of $0.19, beating the Street's expectation of $0.15. However, the revenue miss overshadowed this earnings win. Investors appeared more concerned about the underlying business momentum, particularly in the obesity treatment space, which has been a major driver of Hims' recent growth. ADVERTISEMENT Hims' biggest growth story in recent quarters has been its expansion into GLP-1 weight-loss treatments, which brought in around $190 million in Q2 alone. However, a few red flags have emerged: Regulatory uncertainty : With the FDA rolling back flexibility on compounded versions of semaglutide, questions are mounting about how long Hims can rely on this segment for revenue. : With the FDA rolling back flexibility on of semaglutide, questions are mounting about how long Hims can rely on this segment for revenue. Legal challenges : The company recently ended its supply relationship with Novo Nordisk , the maker of Wegovy, and is now facing lawsuits over how it marketed compounded alternatives. : The company recently ended its supply relationship with , the maker of Wegovy, and is now facing lawsuits over how it marketed compounded alternatives. Competitive pressure: Big players like Eli Lilly and Novo Nordisk are dominating the branded drug market, making it harder for telehealth companies offering generics to compete on pricing and trust. Despite the Q2 shortfall, Hims & Hers stuck to its full-year outlook. The company reaffirmed its 2025 guidance of $2.3 billion to $2.4 billion in revenue and $295 million to $335 million in adjusted EBITDA. ADVERTISEMENT A big reason? The Zava acquisition, a European telehealth platform, which is expected to contribute around $50 million in new revenue this year. This suggests Hims is betting heavily on international growth to offset some of its domestic uncertainty. One bright spot in the report was Hims' growing subscriber base. The company now serves over 2.4 million active subscribers, with nearly 70% enrolled in personalized treatment plans that span weight loss, hair care, sexual health, and mental wellness. CEO Andrew Dudum emphasized that the company is leaning deeper into its long-term strategy of personalized digital healthcare, aiming to build loyalty and customer lifetime value across multiple product categories. If you're following Hims & Hers stock or investing in telehealth companies focused on the obesity drug boom, here are four key things to monitor: Future of compounded GLP-1s: Regulatory and legal outcomes could limit Hims' ability to sell compounded semaglutide at scale. Profitability trends: Will margins hold up as more competition floods the market and Hims scales its personalized offerings? Subscriber growth and retention: Continued engagement in non-weight loss categories will be key to long-term stability. Zava integration: The success or failure of this acquisition could make or break Hims' international ambitions. Hims & Hers Health has come a long way as a digital-first wellness brand with a bold strategy around weight-loss drugs and personalized healthcare. But the 11% stock drop shows investor sentiment is shifting, especially as its flagship obesity business faces regulatory hurdles and supply uncertainty. For now, the company's strong year-over-year growth and firm 2025 guidance offer some reassurance. But with rising competition, tighter FDA rules, and legal pressure, Hims will need to prove that its success isn't just tied to a single product wave—but a durable, trusted digital care ecosystem. What caused Hims & Hers stock to fall 11% after Q2 earnings? The company missed revenue estimates and saw its first-ever sequential drop in sales. Is the Hims weight-loss drug business facing trouble in 2025? Yes, due to FDA scrutiny and legal issues around compounded semaglutide. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. NEXT STORY

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store