Kontoor CEO on Q1 beat
Scott Baxter, Kontoor Brands CEO, joins CNBC's 'The Exchange' to break down growth drivers for Kontoor, DTC strategy, andΒ ...
EVice President & Chief Operating Officer, Kontoor Brands
Search every verified Thomas Waldron interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. Thomas Waldron, Executive Vice President and Chief Operating Officer at Kontoor Brands, was referenced in a September 2024 CNBC interview where CEO Scott Baxter discussed the company's Q1 performance. Baxter attributed the company's record results to the "casualization of what's happening around the world," noting that denim remains acceptable as people return to work. He highlighted the launch of a Lee golf line, which he said performed "exceptionally well out of the gate," and described North America as a strong driver for future growth while noting significant investments in Asia and China. Baxter stated that Kontoor's direct-to-consumer platform, including physical stores and e-commerce, has created a larger opportunity compared to its wholesale-focused past. He said the company plans to build stores in North America and refurbish stores in China, while noting that e-commerce platforms have grown but still have room for expansion. On the consumer outlook, Baxter said the American consumer is "in fairly good shape" and predicted inflation would ease toward the end of 2024 and into 2025, with continued employment and wage inflation setting up a favorable dynamic for 2025.
“It's the casualization of what's happening around the world as we have come back to work and people are casual, denim is acceptable, and we make a great product.”
“We have a strong insights business; for example, our Lee consumer indexes to golf, so we kicked off a whole Lee golf line the past month and it's done exceptionally well out of the gate.”
“North America, our biggest market, will be a strong driver going forward. We're investing significantly in Asia and China as well, positioning that business to do very well.”
“We were more of a wholesale business when we spun out five years ago. Now we have this platform from direct-to-consumer, both physical stores and e-commerce, which creates a bigger opportunity.”
Scott Baxter, Kontoor Brands CEO, joins CNBC's 'The Exchange' to break down growth drivers for Kontoor, DTC strategy, andΒ ...
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