Kontoor Brands (KTB) 10-Q 13 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 29, 2019	Jul. 27, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2019
Entity Transition Report	false
Entity File Number	001-38854
Entity Registrant Name	KONTOOR BRANDS, INC.
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	83-2680248
Entity Address, Address Line One	400 N. Elm Street
Entity Address, City or Town	Greensboro
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27401
City Area Code	336
Local Phone Number	332-3400
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	KTB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		56,879,295
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001760965
Current Fiscal Year End Date	--12-28

Combined Balance Sheets (Unaudi

Combined Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Current assets
Cash and equivalents	$ 76,687	$ 96,776	$ 86,356
Accounts receivable, less allowance for doubtful accounts of $11,102 at June 2019, $10,549 at December 2018 and $7,345 at June 2018	254,049	252,966	262,525
Due from former parent, current	0	547,690	553,976
Notes receivable from former parent	0	517,940	546,740
Inventories	538,168	473,812	491,836
Other current assets	79,397	52,014	45,202
Total current assets	948,301	1,941,198	1,986,635
Due from former parent, noncurrent	0	611	0
Property, plant and equipment, net	131,727	138,449	142,263
Operating lease assets	90,416	0	0
Intangible assets, net	50,953	53,059	55,263
Goodwill	213,761	214,516	216,080
Other assets	153,044	110,632	120,439
TOTAL ASSETS	1,588,202	2,458,465	2,520,680
Current liabilities
Short-term borrowings	2,829	3,215	5,062
Current portion of long-term debt	7,500	0	0
Accounts payable	159,214	134,129	136,620
Due to former parent, current	0	16,140	59,424
Notes payable to former parent	0	269,112	269,112
Accrued liabilities	177,582	194,228	166,881
Operating lease liabilities, current	34,439	0	0
Total current liabilities	381,564	616,824	637,099
Operating lease liabilities, noncurrent	58,594	0	0
Other liabilities	86,189	118,189	115,894
Long-term debt, due beyond one year	979,687	0	0
Commitments and contingencies
Total liabilities	1,506,034	735,013	752,993
Equity
Common stock, no par value	0	0	0
Additional paid-in capital	134,621	0	0
Former parent investment	0	1,868,634	1,908,986
Retained earnings	21,235	0	0
Accumulated other comprehensive loss	(73,688)	(145,182)	(141,299)
Total equity	82,168	1,723,452	1,767,687
TOTAL LIABILITIES AND EQUITY	$ 1,588,202	$ 2,458,465	$ 2,520,680

Combined Balance Sheets (Unau_2

Combined Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 11,102	$ 10,549	$ 7,345

Combined Statements of Income (

Combined Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net revenues	$ 609,746	$ 663,856	$ 1,258,090	$ 1,333,519
Costs and operating expenses
Cost of goods sold	374,177	396,785	775,202	779,206
Selling, general and administrative expenses	182,049	191,337	404,173	386,171
Total costs and operating expenses	556,226	588,122	1,179,375	1,165,377
Operating income	53,520	75,734	78,715	168,142
Interest income from former parent, net	1,423	1,660	3,762	3,311
Interest expense	(7,638)	(416)	(7,736)	(781)
Interest income	1,408	1,386	2,831	2,668
Other expense, net	(1,370)	(1,241)	(2,341)	(2,438)
Income before income taxes	47,343	77,123	75,231	170,902
Income taxes	9,357	16,665	21,832	30,748
Net income	$ 37,986	$ 60,458	$ 53,399	$ 140,154
Earnings per common share
Basic (in USD per share)	$ 0.67	$ 1.07	$ 0.94	$ 2.47
Diluted (in USD per share)	$ 0.67	$ 1.07	$ 0.94	$ 2.47
Weighted average shares outstanding
Basic (in shares)	56,648	56,648	56,648	56,648
Diluted (in shares)	56,920	56,648	56,779	56,648

Consolidated and Combined State

Consolidated and Combined Statements of Income (Unaudited) Combined Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 609,746	$ 663,856	$ 1,258,090	$ 1,333,519
Affiliated Entity
Disaggregation of Revenue [Line Items]
Revenue	3,377	12,133	13,988	25,612
Related parties amount in cost of sales	$ 231	$ 392	$ 487	$ 1,219

Combined Statements of Comprehe

Combined Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 37,986	$ 60,458	$ 53,399	$ 140,154
Foreign currency translation
Gains (losses) arising during the period	4,686	(28,518)	5,444	(18,817)
Defined benefit pension plans
Gains (losses) arising during the period	(14)	0	(14)	0
Derivative financial instruments
Gains (losses) arising during the period	(2,058)	0	(2,058)	0
Reclassification to net income for (gains) losses realized	(362)	0	(362)	0
Total other comprehensive income (loss), net of taxes	2,252	(28,518)	3,010	(18,817)
Comprehensive income	$ 40,238	$ 31,940	$ 56,409	$ 121,337

Combined Statements of Cash Flo

Combined Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net income	$ 53,399	$ 140,154
Adjustments to reconcile net income to cash provided (used) by operating activities:
Depreciation and amortization	16,025	16,089
Stock-based compensation	11,473	5,552
Provision for doubtful accounts	2,985	375
Other	(1,068)	(1,594)
Changes in operating assets and liabilities:
Accounts receivable	4,355	(17,425)
Inventories	(69,655)	(60,721)
Due from former parent	548,301	(332,361)
Accounts payable	43,331	(36,564)
Income taxes	5,692	(4,286)
Accrued liabilities	230	20,009
Due to former parent	(16,065)	21,393
Other assets and liabilities	(18,852)	(15,619)
Cash provided (used) by operating activities	580,151	(264,998)
INVESTING ACTIVITIES
Capital expenditures	(9,300)	(13,035)
Repayments of notes receivable from former parent	517,940	1,000
Other, net	1,081	5,050
Cash provided (used) by investing activities	509,721	(6,985)
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	1,050,000	0
Debt issuance costs	(12,993)	0
Principal payments of long-term debt	(50,000)	0
Repayment of notes payable from former parent	(269,112)	0
Net transfers (to) from former parent	(1,814,682)	279,859
Other, net	(14,169)	675
Cash (used) provided by financing activities	(1,110,956)	280,534
Effect of foreign currency rate changes on cash and cash equivalents	995	(3,006)
Net change in cash and cash equivalents	(20,089)	5,545
Cash, cash equivalents and restricted cash – beginning of year	96,776	80,811
Cash, cash equivalents and restricted cash – end of period	$ 76,687	$ 86,356

Combined Statements of Equity (

Combined Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Former Parent Investment	Retained Earnings	Accumulated Other Comprehensive Loss
Balance, beginning (in shares) at Dec. 30, 2017		0
Balance, beginning at Dec. 30, 2017	$ 1,357,893		$ 0	$ 1,480,375	$ 0	$ (122,482)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	79,696			79,696
Foreign currency translation	9,701					9,701
Net transfers to former parent	113,445			113,445
Balance, ending at Mar. 31, 2018	1,563,782		0	1,676,563	0	(112,781)
Balance, ending (in shares) at Mar. 31, 2018		0
Balance, beginning (in shares) at Dec. 30, 2017		0
Balance, beginning at Dec. 30, 2017	1,357,893		0	1,480,375	0	(122,482)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	140,154
Balance, ending at Jun. 30, 2018	1,767,687		0	1,908,986	0	(141,299)
Balance, ending (in shares) at Jun. 30, 2018		0
Balance, beginning (in shares) at Mar. 31, 2018		0
Balance, beginning at Mar. 31, 2018	1,563,782		0	1,676,563	0	(112,781)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	60,458			60,458
Foreign currency translation	(28,518)					(28,518)
Net transfers to former parent	171,965			171,965
Balance, ending at Jun. 30, 2018	1,767,687		0	1,908,986	0	(141,299)
Balance, ending (in shares) at Jun. 30, 2018		0
Balance, beginning (in shares) at Dec. 29, 2018		0
Balance, beginning at Dec. 29, 2018	1,723,452		0	1,868,634	0	(145,182)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,413			15,413	0
Foreign currency translation	758					758
Net transfers to former parent	(157,928)			(157,928)
Balance, ending at Mar. 30, 2019	1,578,982		0	1,723,406	0	(144,424)
Balance, ending (in shares) at Mar. 30, 2019		0
Balance, beginning (in shares) at Dec. 29, 2018		0
Balance, beginning at Dec. 29, 2018	1,723,452		0	1,868,634	0	(145,182)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	53,399
Net transfers to former parent						68,484
Balance, ending at Jun. 29, 2019	82,168		134,621	0	21,235	(73,688)
Balance, ending (in shares) at Jun. 29, 2019		56,648
Balance, beginning (in shares) at Mar. 30, 2019		0
Balance, beginning at Mar. 30, 2019	1,578,982		0	1,723,406	0	(144,424)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37,986			16,751	21,235
Stock-based compensation, net	1,879		1,879
Foreign currency translation	4,686					4,686
Defined benefit pension plans	(14)					(14)
Derivative financial instruments	(2,420)					(2,420)
Net transfers to former parent	(1,538,931)			(1,607,415)		68,484
Transfer of former parent investment to additional paid-in capital			132,742	(132,742)
Issuance of common stock (in shares)		56,648
Balance, ending at Jun. 29, 2019	$ 82,168		$ 134,621	$ 0	$ 21,235	$ (73,688)
Balance, ending (in shares) at Jun. 29, 2019		56,648

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Description of Business Kontoor Brands, Inc. ("Kontoor," the "Company," "we," "us" or "our") is a global denim and casual apparel company headquartered in the United States ("U.S."). The Company designs, produces, procures, markets and distributes apparel primarily under the brand names Wrangler ® and Lee ® . The Company's products are sold in the U.S. through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores and online. The Company's products are also sold internationally, primarily in Europe and Asia, through department, specialty, company-operated, concession retail and independently operated partnership stores and online. VF Outlet™ stores carry Wrangler ® and Lee ® branded products, as well as merchandise that is specifically purchased for sale in these stores. Spin-Off Transaction On May 22, 2019, VF Corporation ("VF" or "former parent") completed the spin-off of its Jeans business, which included the Wrangler ® , Lee ® and Rock & Republic ® brands, as well as the VF Outlet TM business. The spin-off transaction (the "Separation") was effected through a pro-rata distribution to VF shareholders of one share of Kontoor common stock for every seven shares of VF common stock held on the record date of May 10, 2019. Kontoor began to trade as a separate public company (NYSE: KTB) on May 23, 2019. The Company incurred $1.05 billion of indebtedness under a newly structured third-party debt issuance, the proceeds of which were used primarily to finance a cash transfer to VF in connection with the Separation. The Company entered into several agreements with VF that govern the relationship of the parties following the Separation, including the Separation and Distribution Agreement, the Tax Matters Agreement, the Transition Services Agreement, the Kontoor Intellectual Property License Agreement, the VF Intellectual Property License Agreement and the Employee Matters Agreement. Under the terms of the Transition Services Agreement, the Company and VF agreed to provide each other certain transitional services including information technology, information management, human resources, employee benefits administration, supply chain, facilities, and other limited finance and accounting related services for periods up to 18 months. The Company has also entered into certain commercial arrangements with VF. Revenues, expenses and operating expense reimbursements under these agreements are recorded within the reportable segments or within the corporate and other expenses line item, in the reconciliation of segment profit in Note 12, based on the nature of the arrangements. Fiscal Year The Company operates and reports using a 52/53 week fiscal year ending on the Saturday closest to December 31 of each year. Accordingly, this Form 10-Q presents the second quarter of the Company's fiscal year ended December 28, 2019 ("fiscal 2019"). For presentation purposes herein, all references to periods ended June 2019 , December 2018 and June 2018 correspond to the fiscal periods ended June 29, 2019 , December 29, 2018 and June 30, 2018 , respectively. Basis of Presentation - Unaudited Consolidated and Combined Financial Statements The Company’s financial statements for periods through the Separation date of May 22, 2019 are combined financial statements prepared on a carve-out basis as discussed below. The Company’s financial statements for the period from May 23, 2019 through June 29, 2019 are consolidated financial statements based on the reported results of Kontoor Brands, Inc. as a standalone company. Accordingly, the second quarter of 2019 included consolidated and combined financial statements, whereas all prior periods included combined financial statements. The Company’s unaudited consolidated and combined financial statements for all periods presented are referred to throughout this document as “financial statements.” The accompanying unaudited interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. In the opinion of management, the accompanying financial statements contain all normal and recurring adjustments necessary to fairly state the financial position, results of operations and cash flows of the Company for the interim periods presented. The financial statements may not be indicative of the Company's future performance and do not necessarily reflect what the financial position, results of operations, and cash flows would have been had it operated as an independent company for all periods presented. Additionally, operating results for the three and six months ended June 2019 are not necessarily indicative of results that may be expected for any other interim period or for fiscal 2019. The unaudited financial statements should be read in conjunction with the audited combined financial statements for the fiscal year ended December 29, 2018 included in our Registration Statement on Form 10, as amended and filed with the Securities and Exchange Commission on April 30, 2019 ("2018 Form 10"). Basis of Presentation - Prior to the Separation Through the Separation date, the Company's combined financial statements are prepared on a "carve-out" basis. These accompanying unaudited combined financial statements reflect the historical financial position, results of operations and cash flows of the Company for the periods presented, through the Separation date, as historically managed within VF. The unaudited combined financial statements have been derived from the consolidated financial statements and accounting records of VF. The combined statements of income include costs for certain centralized functions and programs provided and administered by VF that are charged directly to the Company. These centralized functions and programs include, but are not limited to, information technology, human resources, accounting shared services, supply chain and insurance. In addition, for purposes of preparing these combined financial statements on a "carve-out" basis under U.S. GAAP, a portion of VF's total corporate expenses are allocated to the Company. These expense allocations include the cost of corporate functions and resources provided by or administered by VF including, but not limited to, executive management, finance, accounting, legal, human resources, and related benefit costs associated with such functions, such as stock-based compensation and pension. Allocations also include the cost of operating VF's corporate headquarters located in Greensboro, North Carolina. Costs are allocated to the Company based on direct usage when identifiable or, when not directly identifiable, on the basis of proportional revenues, cost of goods sold or square footage, as applicable. Management considers the basis on which the expenses have been allocated to reasonably reflect the utilization of services provided to, or benefit received by, the Company during the periods presented. However, the allocations may not reflect the expenses that would have been incurred if the Company had been a standalone company for the periods presented. Actual costs that may have been incurred if the Company had been a standalone company would depend on a number of factors, including the organizational structure, whether functions were outsourced or performed by employees, and strategic decisions made in areas such as information technology and infrastructure. The combined financial statements include certain assets and liabilities that have historically been held at the VF corporate level but are specifically identifiable or otherwise attributable to the Company. VF's third-party long-term debt and the related interest expense have not been allocated to the Company for any of the periods presented as the Company was not the legal obligor of such debt. All intracompany transactions are eliminated. All transactions between the Company and VF are included in these financial statements. For those transactions between the Company and VF that were historically settled in cash, the Company has reflected such balances in the balance sheets as "due from former parent" or "due to former parent." The aggregate net effect of transactions between the Company and VF that were not historically settled in cash are reflected in the balance sheets within "former parent investment" and in the statements of cash flows within "net transfers to former parent."

RECENTLY ADOPTED AND ISSUED ACC

RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS	6 Months Ended
	Jun. 29, 2019
Accounting Changes and Error Corrections [Abstract]
RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS	RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842),” an update that requires entities to record most leased assets and liabilities on the balance sheet, and also retains a dual model approach for assessing lease classification and recognizing expense. The FASB subsequently issued updates to provide clarification on specific topics, including adoption guidance, practical expedients and interim transition disclosure requirements. This guidance was adopted by the Company during the first quarter of fiscal 2019 utilizing the optional transition method, which resulted in a $2.7 million cumulative effect adjustment to beginning retained earnings for fiscal 2019. The adoption of these standards did not have a significant impact on the Company's statement of income and statement of cash flows. Refer to Note 3 of the Company's financial statements for additional information. In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities," an update that amends and simplifies certain aspects of hedge accounting rules to better portray the economic results of risk management activities in the financial statements. The FASB has subsequently issued updates to the standard to provide additional guidance on specific topics. This guidance was adopted by the Company during the first quarter of fiscal 2019 and did not have a significant impact on the Company's financial statements. In February 2018, the FASB issued ASU 2018-02, " Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, " an update that addresses the effect of the change in the U.S. federal corporate income tax rate due to the enactment of the Tax Act on items within accumulated other comprehensive income (loss). This guidance was adopted by the Company during the first quarter of fiscal 2019 and did not have a significant impact on the Company's financial statements. In July 2018, the FASB issued ASU 2018-09, "Codification Improvements," an update that provides technical corrections, clarifications and other improvements across a variety of accounting topics. The transition and effective date guidance is based on the facts and circumstances of each update; however, many of them became effective for the Company at the beginning of fiscal 2019. The adoption of this guidance did not have a significant impact on the Company's financial statements. Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on the consolidated and combined financial statements. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement," an update that modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its financial statement disclosures. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans," an update that modifies the disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its financial statement disclosures. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," an update that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on the consolidated and combined financial statements. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements.

LEASES

LEASES	6 Months Ended
	Jun. 29, 2019
Leases [Abstract]
LEASES	LEASES The Company enters into operating leases for offices, operational facilities, retail locations, vehicles and other assets that expire at various dates through 2031. Leases for real estate typically have initial terms ranging from 3 to 15 years, generally with renewal options. Leases for equipment typically have initial terms ranging from 2 to 7 years. Most leases have fixed rentals, with many of the real estate leases requiring additional payments for real estate taxes and occupancy-related costs. These lease terms may include optional renewals, terminations or purchases, which are considered in the Company’s assessments when such options are reasonably certain to be exercised. For retail real estate leases, the Company does not typically include renewal options in the underlying lease term. For non-retail real estate leases, when renewal options are reasonably certain to be exercised, the Company includes the renewal options in the underlying lease term, up to a maximum of ten years. Renewals for all other leases are determined on a lease-by-lease basis. Upon adoption of ASU 2016-02, the Company elected the package of practical expedients permitted under the new lease standard, which allows the Company to not reassess whether a contract contains a lease, how the lease is classified, and if initial direct costs can be capitalized. The Company elected to combine non-lease components with the related lease components for real estate, vehicles and other significant asset arrangements. The Company treats the combined items as a single lease component for accounting purposes. Lastly, the Company elected not to recognize a right-of-use asset and related lease liability for leases with a lease term of 12 months or less for all classes of underlying assets. Certain of the Company’s leases contain fixed, indexed, or market-based escalation clauses which impact future payments. Certain arrangements contain variable payment provisions, such as payments based on sales volumes or amounts and mileage, or excess mileage. The Company’s leases typically contain customary covenants and restrictions. The Company determines whether a contract is a lease at inception. This typically requires more judgment in storage and service arrangements where the Company must determine whether its rights to specific physical or production capacity may represent substantially all of the available capacity. The Company measures right-of-use assets and related lease liabilities based on the present value of remaining lease payments, including in-substance fixed payments, the current payment amount when payments depend on an index or rate (e.g., inflation adjustments, market renewals), and the amount the Company believes is probable to be paid to the lessor under residual value guarantees, when applicable. Lease contracts may include fixed payments for non-lease components, such as maintenance, which are included in the measurement of lease liabilities for certain asset classes based on the Company’s election to combine lease and non-lease components. As applicable borrowing rates are not typically implied within our lease arrangements, the Company discounts lease payments based on its estimated incremental borrowing rate at lease commencement, or modification, which is based on the Company’s estimated credit rating, the lease term at commencement and the contract currency of the lease arrangement. The following table presents the lease-related assets and liabilities recorded in the Company's balance sheet: (in thousands) June 2019 Assets Operating lease assets, noncurrent $ 90,416 Total lease assets $ 90,416 Liabilities Operating lease liabilities, current $ 34,439 Operating lease liabilities, noncurrent 58,594 Total lease liabilities $ 93,033 Weighted-average remaining lease term (in years) Operating leases 4.08 Weighted-average discount rate Operating leases 2.46 % Lease costs The following table presents certain information related to the lease costs for operating leases: (in thousands) Three Months Ended June 2019 Six Months Ended June 2019 Operating lease cost $ 11,343 $ 18,956 Short-term lease cost (excluding leases of one month or less) 1,015 1,506 Variable lease cost 735 3,551 Total lease costs $ 13,093 $ 24,013 Rent expense associated with operating leases for the three and six months ended June 2018 totaled approximately $10.6 million and $21.2 million , respectively. Other information The following table presents supplemental cash flow information related to leases: (in thousands) Six Months Ended June 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows impact - operating leases $ 22,950 Right-of-use assets obtained in exchange for new operating leases $ 23,446 The following table reconciles maturities of operating lease liabilities as of June 2019 to the lease liabilities reflected in the Company's balance sheet: (in thousands) Lease Obligations 2019 (excluding the six months ended June 2019) $ 29,732 2020 29,141 2021 17,358 2022 8,285 2023 5,379 Thereafter 9,647 Total future minimum lease payments 99,542 Less: amounts related to imputed interest (6,509 ) Present value of future minimum lease payments 93,033 Less: operating lease liabilities, current (34,439 ) Operating lease liabilities, noncurrent $ 58,594 As of June 2019 , the Company has entered into approximately $1.3 million of operating lease arrangements, on an undiscounted basis, that have not yet commenced. The Company continuously monitors and may negotiate contract amendments that include extensions or modifications to existing leases. The following table presents the future minimum lease payments during the noncancelable lease terms as presented under ASC 840: (in thousands) December 2018 2019 $ 33,562 2020 29,246 2021 17,810 2022 7,932 2023 4,353 Thereafter 4,582 Total future minimum lease payments $ 97,485

REVENUES

REVENUES	6 Months Ended
	Jun. 29, 2019
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The Company recognizes revenue when performance obligations under the terms of a contract with the customer are satisfied based on the transfer of control of promised goods or services. The transfer of control typically occurs at a point in time based on consideration of when the customer has (i) an obligation to pay for, (ii) physical possession of, (iii) legal title to, (iv) risks and rewards of ownership of and (v) accepted the goods or services. The timing of revenue recognition within the wholesale channels occurs either on shipment or delivery of goods based on contractual terms with the customer. The timing of revenue recognition in the direct-to-consumer channels generally occurs at the point of sale within Company-operated or concession retail stores and either on shipment or delivery of goods for e-commerce transactions based on contractual terms with the customer. For finished products shipped directly to customers from our suppliers, the Company’s promise to the customer is a performance obligation to provide the specified goods and the Company has discretion in establishing pricing, and thus the Company is the principal in the arrangement and revenue is recognized on a gross basis at the transaction price. The duration of contractual arrangements with our customers in the wholesale and direct-to-consumer channels is typically less than one year. Payment terms with customers are generally between 30 and 60 days. The Company does not adjust the promised amount of consideration for the effects of a significant financing component as it is expected, at contract inception, that the period between the transfer of the promised good or service to the customer and the customer payment for the good or service will be one year or less. The amount of revenue recognized in the wholesale and direct-to-consumer channels reflects the expected consideration to be received for providing the goods or services to the customer, which includes estimates for variable consideration. Variable consideration includes allowances for trade terms, sales incentive programs, discounts, markdowns, chargebacks and product returns. Estimates of variable consideration are determined at contract inception and reassessed at each reporting date, at a minimum, to reflect any changes in facts and circumstances. The Company utilizes the expected value method in determining its estimates of variable consideration, based on evaluations of specific product and customer circumstances, historical and anticipated trends and current economic conditions. Revenue from the sale of gift cards is deferred and recorded as a contract liability until the gift card is redeemed by the customer, factoring in breakage as appropriate, which considers whether the Company has a legal obligation to remit the value of the unredeemed gift card to any jurisdiction under unclaimed property regulations. The VF Outlet™ stores maintain customer loyalty programs where customers earn rewards from qualifying purchases, which are redeemable for discounts on future purchases or other rewards. For its customer loyalty programs, the Company estimates the standalone selling price of the loyalty rewards and allocates a portion of the consideration for the sale of products to the loyalty points earned. The deferred amount is recorded as a contract liability, and is recognized as revenue when the points are redeemed or when the likelihood of redemption is remote. The Company has elected to treat all shipping and handling activities as fulfillment costs and recognize the costs as "selling, general and administrative expenses" at the time the related revenue is recognized. Shipping and handling costs billed to customers are included in "net revenues." Sales taxes and value added taxes collected from customers and remitted directly to governmental authorities are excluded from the transaction price. The Company has licensing agreements for its symbolic intellectual property, most of which include minimum guaranteed royalties. Royalty income is recognized as earned over the respective license term based on the greater of minimum guarantees or the licensees’ sales of licensed products at rates specified in the licensing contracts. Royalty income related to the minimum guarantees is recognized using a measure of progress with variable amounts recognized only when the cumulative earned royalty exceeds the minimum guarantees. As of June 2019 , the Company expects to recognize $77.4 million of fixed consideration related to the future minimum guarantees in effect under its licensing agreements and expects such amounts to be recognized over time through December 2029 . The variable consideration is not disclosed as a remaining performance obligation as the licensing arrangements qualify for the sales-based royalty exemption. The Company has applied the practical expedient to recognize incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that otherwise would have been recognized is one year or less. Performance Obligations Disclosure is required for the aggregate transaction price allocated to performance obligations that are unsatisfied at the end of a reporting period, unless the optional practical expedients are applicable. The Company elected the practical expedients to not disclose the transaction price allocated to remaining performance obligations for i) variable consideration related to sales-based royalty arrangements and ii) contracts with an original expected duration of one year or less. As of June 2019 , there were no arrangements with transaction price allocated to remaining performance obligations other than (i) contracts for which the Company has applied the practical expedients discussed above and (ii) fixed consideration related to future minimum guarantees. For the three and six months ended June 2019 , revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not material. Contract Balances Accounts receivable represent the Company's unconditional right to receive consideration from a customer and are recorded at net invoiced amounts, less an estimated allowance for doubtful accounts. Contract assets are rights to consideration in exchange for goods or services that have been transferred to a customer when that right is conditional on something other than the passage of time. Once the Company has an unconditional right to consideration under a contract, amounts are invoiced and contract assets are reclassified to "accounts receivable." The Company's primary contract assets relate to sales-based royalty arrangements. Contract liabilities are recorded when a customer pays consideration, or the Company has a right to an amount of consideration that is unconditional, before the transfer of a good or service to the customer, and thus represent the Company's obligation to transfer the good or service to the customer at a future date. The Company's primary contract liabilities relate to gift cards, loyalty programs and sales-based royalty arrangements. The following table provides information about accounts receivable, contract assets and contract liabilities recorded in the Company's balance sheets: (in thousands) June 2019 December 2018 June 2018 Accounts receivable, net $ 254,049 $ 252,966 $ 262,525 Contract assets (a) 2,529 2,841 1,387 Contract liabilities (b) 2,787 2,311 3,215 (a) Included in "other current assets" in the Company's balance sheets. (b) Included in "accrued liabilities" in the Company's balance sheets. The Company recognized revenue that was previously included in the contract liability balances of $0.2 million and $1.5 million for the three and six months ended June 2019 , respectively, and $0.3 million and $1.5 million for the three and six months ended June 2018 , respectively. The changes in the contract asset and contract liability balances primarily result from the timing differences between the Company's satisfaction of performance obligations and the customer's payment. Disaggregation of Revenue The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors. Revenues from licensing arrangements have been included within the U.S. or Non-U.S. Wholesale channels, based on the respective region covered by the agreement. Branded Direct-to-Consumer revenues include the distribution of our products via concession retail locations internationally, Wrangler ® and Lee ® branded full-price stores globally and Company-owned outlet stores globally. The Branded Direct-to-Consumer channel also includes our branded products sold in our U.S.-based VF Outlet™ stores and our products that are marketed and distributed online via www.wrangler.com and www.lee.com. The Other channel includes (i) sales of VF-branded and third-party branded merchandise in our VF Outlet™ stores, (ii) sales to VF for products manufactured in our plants and use of our transportation fleet and (iii) revenues from fulfilling a transition services agreement related to VF's sale of its Nautica ® brand business in mid-2018. Three Months Ended June 2019 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 299,040 $ 108,757 $ 4,710 $ 412,507 Non-U.S. Wholesale 40,569 56,845 633 98,047 Branded Direct-To-Consumer 24,383 41,306 14 65,703 Other — — 33,489 33,489 Total $ 363,992 $ 206,908 $ 38,846 $ 609,746 Geographic revenues U.S. $ 317,831 $ 130,795 $ 38,002 $ 486,628 International 46,161 76,113 844 123,118 Total $ 363,992 $ 206,908 $ 38,846 $ 609,746 Three Months Ended June 2018 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 311,222 $ 100,674 $ 7,094 $ 418,990 Non-U.S. Wholesale 59,624 73,076 26 132,726 Branded Direct-To-Consumer 26,899 44,023 27 70,949 Other — — 41,191 41,191 Total $ 397,745 $ 217,773 $ 48,338 $ 663,856 Geographic revenues U.S. $ 329,166 $ 122,655 $ 48,312 $ 500,133 International 68,579 95,118 26 163,723 Total $ 397,745 $ 217,773 $ 48,338 $ 663,856 Six Months Ended June 2019 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 575,865 $ 209,616 $ 11,435 $ 796,916 Non-U.S. Wholesale 109,224 157,741 633 267,598 Branded Direct-To-Consumer 48,838 81,082 14 129,934 Other — — 63,642 63,642 Total $ 733,927 $ 448,439 $ 75,724 $ 1,258,090 Geographic revenues U.S. $ 611,700 $ 249,915 $ 74,880 $ 936,495 International 122,227 198,524 844 321,595 Total $ 733,927 $ 448,439 $ 75,724 $ 1,258,090 Six Months Ended June 2018 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 575,008 $ 210,933 $ 14,658 $ 800,599 Non-U.S. Wholesale 135,630 180,937 26 316,593 Branded Direct-To-Consumer 52,090 87,864 27 139,981 Other — — 76,346 76,346 Total $ 762,728 $ 479,734 $ 91,057 $ 1,333,519 Geographic revenues U.S. $ 608,806 $ 251,619 $ 91,031 $ 951,456 International 153,922 228,115 26 382,063 Total $ 762,728 $ 479,734 $ 91,057 $ 1,333,519

SALE OF ACCOUNTS RECEIVABLE

SALE OF ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 29, 2019
Receivables [Abstract]
SALE OF ACCOUNTS RECEIVABLE	SALE OF ACCOUNTS RECEIVABLE On April 1, 2019, the Company entered into an agreement with a financial institution to sell selected trade accounts receivable on a recurring, nonrecourse basis. Under this agreement, up to $377.5 million of the Company’s trade accounts receivable may be sold to the financial institution and remain outstanding at any point in time. The Company removes the sold balances from "accounts receivable" in its balance sheets at the time of sale. The Company does not retain any interests in the sold accounts receivable. Prior to April 1, 2019, the Company had a separate agreement with VF, pursuant to which the Company’s trade accounts receivable were sold as part of VF’s agreement with a financial institution. Under this agreement, the Company did not retain any interests in the sold accounts receivable but continued to service and collect outstanding accounts receivable on behalf of VF. Prior to the Separation, the amount due from VF for these sales was separately reflected in the Company's balance sheets within "due from former parent." Refer to Note 15 of the financial statements for additional information. During the six months ended June 2019 and 2018 , the Company sold total trade accounts receivable of $518.7 million and $526.6 million , respectively. As of June 2019 , $188.2 million of the sold accounts receivable had been removed from the Company's balance sheets but remained outstanding with the financial institution. As of December 2018 and June 2018 , $544.9 million and $553.4 million , respectively, of the sold trade accounts receivable had been removed from "accounts receivable" and reflected in the Company's balance sheets within "due from former parent." The funding fees charged by the financial institution for these programs are reflected in the Company's statements of income within "other expense, net" and were $1.5 million and $2.9 million for the three and six months ended June 2019 , respectively, and $1.4 million and $2.4 million for the three and six months ended June 2018

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 29, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES (in thousands) June 2019 December 2018 June 2018 Finished products $ 457,508 $ 396,345 $ 412,365 Work-in-process 35,680 37,466 40,642 Raw materials 44,980 40,001 38,829 Total inventories $ 538,168 $ 473,812 $ 491,836

SHORT-TERM BORROWINGS AND DEBT

SHORT-TERM BORROWINGS AND DEBT	6 Months Ended
	Jun. 29, 2019
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	SHORT-TERM BORROWINGS AND LONG-TERM DEBT Credit Facilities On May 17, 2019, the Company entered into a $1.55 billion senior secured credit facility, the proceeds of which were used primarily to finance a cash transfer to VF in connection with the Separation. This facility consists of a five -year $750 million term loan A facility (“Term Loan A”), a seven -year $300 million term loan B facility (“Term Loan B”) and a five -year $500 million revolving credit facility (the “Revolving Credit Facility”) (collectively, the “Credit Facilities”) with the lenders and agents party thereto. The Credit Facilities are subject to certain affirmative and negative covenants customary for financings of this type, including maintenance of a consolidated earnings before interest, taxes, depreciation and amortization to consolidated interest ratio. If the Company fails in the performance of any covenants, the lenders may terminate their obligation to make advances and declare any outstanding obligations to be immediately due and payable. As of June 2019 , the Company was in compliance with all covenants. Short-term borrowings (in thousands) June 2019 December 2018 June 2018 International borrowing arrangements $ 2,829 $ 3,215 $ 5,062 Revolving Credit Facility — — — Short-term borrowings $ 2,829 $ 3,215 $ 5,062 The Company has $49.0 million of international lines of credit with various banks, which are uncommitted and may be terminated at any time by either the Company or the banks. Total outstanding balances under these arrangements were $2.8 million , $3.2 million and $5.1 million at June 2019 , December 2018 and June 2018 , respectively. Borrowings under the Revolving Credit Facility are priced at a credit spread of 175 basis points over the appropriate LIBOR benchmark for each currency, or 75 basis points over the base rate for each currency, at the Company's election. The Company is also required to pay a facility fee to the lenders, currently equal to 30 basis points of the undrawn amount of the facility. The credit spread and facility fee are subject to adjustments based on the Company's credit ratings. The Revolving Credit Facility may be used to borrow funds in both U.S. dollar and certain non-U.S. dollar currencies, and has a $75.0 million letter of credit sublimit. The Revolving Credit Facility had $1.3 million of outstanding standby letters of credit issued on behalf of the Company as of June 2019 , leaving $498.7 million available for borrowing against this facility. We expect to utilize the borrowing capacity under the Revolving Credit Facility from time to time to provide working capital and funds for general corporate purposes. Long-term Debt (in thousands) June 2019 Term Loan A $ 694,166 Term Loan B 293,021 Total long-term debt 987,187 Less current portion 7,500 Long-term debt, due beyond one year $ 979,687 The interest rate per annum applicable to Term Loan A is either 75 basis points over the base rate or 175 basis points over the applicable LIBOR benchmark, at the Company's election. Additionally, the interest rate per annum applicable to Term Loan B is either a base rate plus margin of 3.25% or LIBOR plus a margin of 4.25% , at the Company's election. The LIBOR rate for both loans is subject to a "floor" of 0.0% . Interest payments are due quarterly on both Term Loan A and Term Loan B. Term Loan A and Term Loan B balances will begin amortizing in escalating quarterly installments in the third quarter of fiscal 2019. Additionally, the Company has the option to repay these loans at its discretion, and repaid $50 million of Term Loan A during the quarter ended June 2019 . Term Loan A had an outstanding principal amount of $700.0 million at June 2019 and is recorded net of unamortized debt issuance costs. Interest expense on this facility is recorded at an effective annual interest rate of 4.3% , including original issue discount and debt issuance costs. Term Loan B had an outstanding principal amount of $300.0 million at June 2019 and is recorded net of unamortized original issue discount and debt issuance costs. Interest expense on this facility is recorded at an effective annual interest rate of 6.8% , including original issue discount and debt issuance costs.

PENSION PLANS

PENSION PLANS	6 Months Ended
	Jun. 29, 2019
Retirement Benefits [Abstract]
PENSION PLANS	PENSION PLANS Prior to the Separation, certain Company employees participated in U.S. and international defined benefit pension plans sponsored by VF (the "Shared Plans"), which included participants of other VF operations. The Company accounted for its participation in the Shared Plans as a multi-employer benefit plan. Accordingly, net pension costs specifically related to Company employees were reflected in the Company's statements of income and the Company did not record an asset or liability in relation to the funded or unfunded status of the Shared Plans. At the Separation, approximately $11.0 million of net pension obligations related to international employees were transferred to the Company, along with $1.1 million of related other comprehensive loss. The net pension costs for these plans are included in the table below. The Company recognized the following net pension costs: Three Months Ended June Six Months Ended June (in thousands) 2019 2018 2019 2018 Service cost $ 681 $ 1,701 $ 1,017 $ 3,067 Non-service components (2,201 ) (266 ) (3,166 ) (2,361 ) Curtailment losses — 3,502 — 3,502 Settlement losses — 67 — 67 Net pension (benefit) costs $ (1,520 ) $ 5,004 $ (2,149 ) $ 4,275 The service cost component of net pension costs is reflected in the Company's statements of income within "cost of goods sold" and "selling, general and administrative expenses." The non-service components of net pension cost are reflected in the Company's statements of income within "selling, general and administrative expenses."

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 29, 2019
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The Company's comprehensive income consists of net income and specified components of other comprehensive loss (“OCL”), which relate to changes in assets and liabilities that are not included in net income but are instead deferred and accumulated within a separate component of equity in the Company's balance sheets. The Company's comprehensive income is presented in the Company's statements of comprehensive income. The deferred components of OCL are reported, net of related taxes, in accumulated OCL in equity, as follows: (in thousands) June 2019 December 2018 June 2018 Foreign currency translation $ (81,841 ) $ (145,182 ) $ (141,299 ) Defined benefit pension plans (1,072 ) — — Derivative financial instruments 9,225 — — Accumulated other comprehensive income (loss) $ (73,688 ) $ (145,182 ) $ (141,299 ) The changes in accumulated OCL, net of related taxes, were as follows: Three Months Ended June 2019 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, March 2019 $ (144,424 ) $ — $ — $ (144,424 ) Other comprehensive income (loss) before reclassifications 4,686 (14 ) (2,058 ) 2,614 Amounts reclassified from accumulated other comprehensive income (loss) — — (362 ) (362 ) Net other comprehensive income (loss) 4,686 (14 ) (2,420 ) 2,252 Net transfers to former parent 57,897 (1,058 ) 11,645 68,484 Balance, June 2019 $ (81,841 ) $ (1,072 ) $ 9,225 $ (73,688 ) Three Months Ended June 2018 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, March 2018 $ (112,781 ) $ — $ — $ (112,781 ) Other comprehensive income (loss) before reclassifications (28,518 ) — — (28,518 ) Amounts reclassified from accumulated other comprehensive income (loss) — — — — Net other comprehensive income (loss) (28,518 ) — — (28,518 ) Balance, June 2018 $ (141,299 ) $ — $ — $ (141,299 ) Six Months Ended June 2019 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, December 2018 $ (145,182 ) $ — $ — $ (145,182 ) Other comprehensive income (loss) before reclassifications 5,444 (14 ) (2,058 ) 3,372 Amounts reclassified from accumulated other comprehensive income (loss) — — (362 ) (362 ) Net other comprehensive income (loss) 5,444 (14 ) (2,420 ) 3,010 Net transfers to former parent 57,897 (1,058 ) 11,645 68,484 Balance, June 2019 $ (81,841 ) $ (1,072 ) $ 9,225 $ (73,688 ) Six Months Ended June 2018 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, December 2017 $ (122,482 ) $ — $ — $ (122,482 ) Other comprehensive income (loss) before reclassifications (18,817 ) — — (18,817 ) Amounts reclassified from accumulated other comprehensive income (loss) — — — — Net other comprehensive income (loss) (18,817 ) — — (18,817 ) Balance, June 2018 $ (141,299 ) $ — $ — $ (141,299 ) Reclassifications out of accumulated OCL are as follows: Three Months Ended June Six Months Ended June (in thousands) Details About Accumulated Other Comprehensive Income (Income) Components Affected Line Item in the 2019 2018 2019 2018 Gains (losses) on derivative financial instruments: Foreign exchange contracts Net sales $ (96 ) $ — $ (96 ) $ — Foreign exchange contracts Cost of goods sold 415 — 415 — Foreign exchange contracts Other income (expense), net 43 — 43 — Total before tax 362 — 362 — Tax benefit — — — — Net of tax 362 — 362 — Total reclassifications for the period, net of tax $ 362 $ — $ 362 $ —

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 29, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Prior to the Separation, certain Company employees participated in the VF amended and restated 1996 Stock Compensation Plan. At the Separation date, certain VF share-based awards were converted to approximately 2.4 million of the Company’s options, performance and non-performance based restricted stock units and restricted stock awards. Unamortized expense for these awards was approximately $7.7 million

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 29, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Prior to the Separation, our operations were historically included in VF’s U.S. combined federal and state income tax returns. For the periods prior to the Separation, the income tax expense and deferred tax balances that are presented in these financial statements were calculated on a carve-out basis, which applied the accounting guidance as if the Company filed its own tax returns in each jurisdiction and included tax losses and tax credits that may not reflect tax positions taken by VF. Certain tax attributes reported by the Company on a carve-out basis were not transferred to the Company as part of the Separation. These attributes primarily related to losses in certain Central America and South America ("CASA") jurisdictions. The effective income tax rate for the six months ended June 2019 was 29.0% compared to 18.0% in the 2018 period. Effective with the Separation, the Company established a corporate legal entity structure that is subject to U.S. corporate income tax on a standalone basis. Tax expense for the six-month period is based on five months of combined financial statements prepared on a carve-out basis using VF information and one month of the consolidated results of the Company on a standalone basis. The six months ended June 2019 included a net discrete tax expense of $0.7 million , comprised of $3.8 million of net tax expense primarily related to an increase in unrecognized tax benefits and interest and $3.1 million of tax benefit related to stock compensation. The $0.7 million net discrete tax expense in the six months ended June 2019 increased the effective income tax rate by 0.9% . The effective tax rate for the six months ended June 2018 included a net discrete tax benefit of $6.5 million , which included $5.1 million of net tax benefits related to the realization of previously unrecognized tax benefits and interest and $1.4 million of tax benefit related to stock compensation. The $6.5 million net discrete tax benefit in the 2018 period decreased the effective income tax rate by 3.8% . Without discrete items, the effective income tax rate for the six months ended June 2019 increased by 6.3% compared with the 2018 period primarily due to losses incurred in the periods prior to the Separation for certain CASA jurisdictions for which no related tax benefit was recognized. The Company will file a consolidated U.S. federal income tax return, as well as separate and combined income tax returns in numerous state and international jurisdictions. The Company has not filed its initial consolidated U.S. federal income tax return and therefore there are no open IRS examinations. However, the Company is currently subject to examination by various U.S. state and international tax authorities where existing legal entities were transferred to the Company as part of the Separation. Management regularly assesses the potential outcomes of both ongoing and future examinations for the current and prior years and has concluded that the Company’s provision for income taxes is adequate. Management does not anticipate that ongoing audits or negotiations will conclude during the next 12 months. During the six months ended June 2019 , the amount of net unrecognized tax benefits and associated interest decreased by $39.0 million to $12.3 million . The decrease in net unrecognized tax benefits was primarily related to reserves that were presented in the prior periods on a carve-out basis but were not transferred to the Company as part of the Separation. Management believes that it is reasonably possible that the amount of unrecognized income tax benefits and interest may decrease during the next 12 months by approximately $0.5 million related to the completion of examinations and other settlements with tax authorities and the expiration of statutes of limitations, which would reduce income tax expense. The Company accounts for interest and penalties related to unrecognized tax benefits as a component of tax expense.

REPORTABLE SEGMENT INFORMATION

REPORTABLE SEGMENT INFORMATION	6 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
REPORTABLE SEGMENT INFORMATION	REPORTABLE SEGMENT INFORMATION The chief operating decision maker allocates resources and assesses performance based on a global brand view which determines the Company's operating segments. These operating segments are the basis for the Company's reportable segments, as described below: • Wrangler — Wrangler ® branded denim, apparel and accessories. • Lee — Lee ® branded denim, apparel and accessories. In addition, we report an "Other" category for purposes of reconciliation of revenues and profit, but the Other category is not considered a reportable segment. Other includes sales (i) of VF-branded products and third-party branded merchandise at VF Outlet™ stores, (ii) of Rock and Republic ® branded apparel, (iii) to VF for products manufactured in our plants and use of our transportation fleet and, (iv) from fulfillment of a transition services agreement associated with VF's sale of its Nautica ® brand business in mid-2018. Accounting policies utilized for internal management reporting at the individual segments are consistent with those included in Note 1 of the combined financial statements of our 2018 Form 10, except as noted below. The Company's statements of income include costs for certain centralized functions and programs provided and administered by VF that are charged directly to VF's businesses, including the Company. These centralized functions and programs include, but are not limited to, information technology, human resources, accounting shared services, supply chain, insurance, and the related benefits. These historical allocations have been included in the measurement of segment profit below. In addition, for purposes of preparing these financial statements on a "carve-out" basis, we have allocated a portion of VF's total corporate expenses to the Company. These expense allocations include the cost of corporate functions and resources provided by or administered by VF including, but not limited to, executive management, finance, accounting, legal, human resources, and related benefit costs associated with such functions. Allocations also include the cost of operating VF's corporate headquarters located in Greensboro, North Carolina. These additional allocations are reported as corporate and other expenses in the table below. Corporate and other expenses, net interest income from former parent, interest income, and interest expense are not controlled by segment management and therefore are excluded from the measurement of segment profit. Financial information for the Company's reportable segments is as follows: Three Months Ended June Six Months Ended June (in thousands) 2019 2018 2019 2018 Segment revenues: Wrangler $ 363,992 $ 397,745 $ 733,927 $ 762,728 Lee 206,908 217,773 448,439 479,734 Other 38,846 48,338 75,724 91,057 Total segment revenues $ 609,746 $ 663,856 $ 1,258,090 $ 1,333,519 Segment profit: Wrangler $ 56,980 $ 67,670 $ 80,645 $ 130,616 Lee 13,747 18,065 31,380 54,054 Other 1,805 1,363 (1,280 ) (387 ) Total segment profit $ 72,532 $ 87,098 $ 110,745 $ 184,283 Corporate and other expenses (20,382 ) (12,605 ) (34,371 ) (18,579 ) Interest income from former parent, net 1,423 1,660 3,762 3,311 Interest expense (7,638 ) (416 ) (7,736 ) (781 ) Interest income 1,408 1,386 2,831 2,668 Income before income taxes $ 47,343 $ 77,123 $ 75,231 $ 170,902

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 29, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities or (iii) information derived from or corroborated by observable market data. • Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be the Company's own data and judgments about assumptions that market participants would use in pricing the asset or liability. The following table summarizes financial assets and financial liabilities that are measured and recorded in the Company's financial statements at fair value on a recurring basis: Fair Value Measurement Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 June 2019 Financial assets: Cash equivalents: Money market funds $ 5,385 $ 5,385 $ — $ — Time deposits 3,391 3,391 — — Derivative financial instruments 855 — 855 — Investment securities 61,799 58,343 3,456 — Financial liabilities: Derivative financial instruments 3,972 — 3,972 — Deferred compensation 61,799 — 61,799 — Fair Value Measurement Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 December 2018 Financial assets: Cash equivalents: Money market funds $ 21,687 $ 21,687 $ — $ — Time deposits 2,518 2,518 — — Investment securities 46,666 46,666 — — Financial liabilities: Deferred compensation 46,666 — 46,666 — The Company's cash equivalents include money market funds and short-term time deposits that approximate fair value based on Level 1 measurements. The fair value of derivative financial instruments, which consist of foreign exchange forward contracts, is determined based on observable market inputs (Level 2). Investment securities are held in the Company's deferred compensation plans as an economic hedge of the related deferred compensation liabilities. These investments are primarily comprised of mutual funds (Level 1) that are valued based on quoted prices in active markets. Liabilities related to the Company's deferred compensation plans are recorded at amounts due to participants, based on the fair value of the participants’ selection of hypothetical investments. Additionally, at June 2019 , the carrying value of the Company's long-term debt, inclusive of the current portion, was $987.2 million compared to a fair value of $990.6 million . The fair value of long-term debt is a Level 2 estimate based on quoted market prices or values of comparable borrowings. All other financial assets and financial liabilities are recorded in the Company's financial statements at cost. These other financial assets and financial liabilities include cash held as demand deposits, accounts receivable, due from former parent, notes receivable from former parent, short-term borrowings, accounts payable, due to former parent, notes payable to former parent and accrued liabilities. At June 2019 and December 2018 , carrying value approximated fair value for the aforementioned financial assets and liabilities due to the short-term nature of these instruments. The Company did not transfer any assets or liabilities among the levels of the fair value hierarchy during the six months ended June 2019 or the fiscal year ended December 2018 .

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Jun. 29, 2019
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING T he Company typically incurs restructuring charges related to cost optimization of business activities. Of the $1.7 million and $24.6 million of restructuring charges recognized during the three and six months ended June 2019 , respectively, the Company recognized $1.7 million and $13.8 million in "selling, general and administrative expenses" during the three and six months ended June 2019 , respectively, and $10.8 million in "cost of goods sold" during the six months ended June 2019 . The Company did not incur significant incremental costs related to the previously approved initiatives during the three and six months ended June 2019 . All of the $12.8 million total restructuring accrual reported in the Company's balance sheet at June 2019 is expected to be paid out within the next 12 months and is classified within "accrued liabilities." The components of the restructuring charges are as follows: (in thousands) Three Months Ended June 2019 Six Months Ended June 2019 Severance and employee-related benefits $ 1,746 $ 14,903 Asset impairments — 1,596 Inventory write-downs — 4,403 Other — 3,660 Total restructuring charges $ 1,746 $ 24,562 Restructuring costs by business segment are as follows: (in thousands) Three Months Ended June 2019 Six Months Ended June 2019 Wrangler $ 1,191 $ 17,613 Lee 461 6,685 Other 94 264 Total $ 1,746 $ 24,562 The activity in the restructuring accrual for the six -month period ended June 2019 is as follows: (in thousands) Severance Other Total Accrual at December 2018 $ 23,249 $ — $ 23,249 Charges 14,903 3,660 18,563 Cash payments (18,951 ) (839 ) (19,790 ) Adjustments to accruals 83 — 83 Currency translation (58 ) (197 ) (255 ) Adjustment at Separation (6,384 ) (2,624 ) (9,008 ) Accrual at June 2019 $ 12,842 $ — $ 12,842

TRANSACTIONS WITH FORMER PARENT

TRANSACTIONS WITH FORMER PARENT	6 Months Ended
	Jun. 29, 2019
Related Party Transactions [Abstract]
TRANSACTIONS WITH FORMER PARENT	TRANSACTIONS WITH FORMER PARENT Prior to the Separation, the Company's financial statements were prepared on a carve-out basis and were derived from the consolidated financial statements and accounting records of VF. The following discussion summarizes activity between the Company and VF. Allocation of General Corporate Expenses Prior to the Separation, the Company's statements of income included expenses for certain centralized functions and other programs provided and administered by VF that were charged directly to the Company. In addition, for purposes of preparing these financial statements on a carve-out basis, the Company was allocated a portion of VF's total corporate expenses. See Note 1 in the Company's 2018 Form 10 for a discussion of the methodology used to allocate corporate-related costs for purposes of preparing these financial statements on a carve-out basis. Sales and Purchases To and From Former Parent During the first two months of the second quarter of fiscal year 2019 and the first five months of fiscal year 2019 through the Separation date, the Compa ny's sales to VF totaled $3.4 million and $14.1 million , respectively, and $12.1 million and $25.6 million for the three and six months ended June 2018 , respectively, which are included in "net revenues" in the Company's statements of income. The Company's cost of goods sold includes items purchased from VF totaling $0.2 million and $0.5 million for the first two months of the second quarter of fiscal year 2019 and the first five months of fiscal year 2019 through the Separation date, respectively, and $0.4 million and $1.2 million for the three and six months ended June 2018 , respectively. At June 2019 , December 2018 and June 2018 , the aggregate amount of inventories purchased from VF that remained on the Company's balance sheets were approximately $1.0 million , $0.8 million and $2.3 million , respectively. Notes To and From Former Parent All notes to and from former parent were settled in connection with the Separation. At December 2018 and June 2018 , the Company had notes receivable from former parent of $517.9 million and $546.7 million , respectively, with VF as the counterparty. The weighted-average interest rate for these notes was approximately 3.4% and 2.4% at December 2018 and June 2018 , respectively. At December 2018 and June 2018 , the Co mpany had notes payable to former parent of $269.1 million and $269.1 million , respectively, with VF as the counterparty. The weighted-average interest rate for these notes was approximately 3.4% an d 2.3% a t December 2018 and June 2018 , respectively. The Company recorded net interest income related to these notes for the first two months of the second quarter of fiscal year 2019 and the first five months of fiscal year 2019 through the Separation date of $1.4 million and $3.8 million , respectively, and $1.7 million and $3.3 million for the three and six months ended June 2018 , respectively, which is reflected in "interest income from former parent, net" within the Company's statements of income. Due To and From Former Parent All amounts due to and from former parent were settled in connection with the Separation. Balances that were in due to and from former parent were generated by (i) the sale of trade accounts receivable to VF, as discussed in Note 5 to the Company's financial statements , (ii) hedging agreements with VF, and (iii) sourcing payable to VF. Prior to the Separation, the Company did not enter into derivative contracts. However, VF entered into derivative contracts with external counterparties to hedge certain foreign currency transactions with exposure to the euro, Mexican peso, Polish zloty, Canadian dollar, and other currencies. The Company entered into offsetting internal contracts with VF with maturities up to 20 months, and cash settled with VF on any asset or liability that arose under these contracts. Due from former parent, current consists of the following: (in thousands) December 2018 June 2018 Sale of trade accounts receivable $ 544,858 $ 553,355 Hedging agreements with VF 2,832 621 $ 547,690 $ 553,976 As discussed in Note 5 to the financial statements, the Company sold certain of its trade accounts receivable to VF, who then sold them to a financial institution and periodically remitted cash back to the Company. Due from former parent, noncurrent consists of the following: (in thousands) December 2018 June 2018 Hedging agreements with VF $ 611 $ — Due to former parent, current consists of the following: (in thousands) December 2018 June 2018 Sourcing payable $ 16,140 $ 59,424 Net Transfers To and From VF Net transfers to and from VF are included in "former parent investment" within the statements of equity. The components of the transfers to and from VF are as follows: Six Months Ended June (in thousands) 2019 (a) 2018 General financing activities $ (723,155 ) $ 203,402 Corporate allocations 47,903 61,465 Stock-based compensation expense 9,582 5,552 Pension (benefit) costs (2,246 ) 4,275 Purchases from parent 3,193 1,644 Sales to parent (13,988 ) (25,612 ) Other income tax 10,863 34,684 Transition tax related to the Tax Act 3,937 — Cash dividend to former parent (1,032,948 ) — Total net transfers (to) from former parent $ (1,696,859 ) $ 285,410 (a) Activity reflected through the Separation date

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The computation of basic and diluted earnings per share ("EPS") is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively. On May 22, 2019, the Separation from VF was effected through a pro-rata distribution of one share of the Company's common stock for every seven shares of VF common stock held at the close of business on the record date of May 10, 2019. As a result, on May 23, 2019, the Company had 56,647,561 shares of common stock outstanding. This share amount is being utilized for the calculation of basic and diluted earnings per share for all periods presented through the Separation date. After the Separation date, actual outstanding shares are used to calculate both basic and diluted weighted average number of common shares outstanding. The following table sets forth the computation of basic and diluted EPS: Three Months Ended June Six Months Ended June (in thousands, except per share amounts) 2019 2018 2019 2018 Net income $ 37,986 $ 60,458 $ 53,399 $ 140,154 Basic weighted average shares outstanding 56,648 56,648 56,648 56,648 Dilutive effect of stock-based awards 272 — 131 — Diluted weighted average shares outstanding 56,920 56,648 56,779 56,648 Earnings per share: Basic earnings per share $ 0.67 $ 1.07 $ 0.94 $ 2.47 Diluted earnings per share 0.67 1.07 0.94 2.47

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Summary of Derivative Financial Instruments On April 24, 2019, the Company began entering into derivative contracts with external counterparties to hedge certain foreign currency transactions. All of the Company's outstanding derivative financial instruments are foreign exchange forward contracts. Although derivatives meet the criteria for hedge accounting at the inception of the hedging relationship, a limited number of derivative contracts intended to hedge assets and liabilities are not designated as hedges for accounting purposes. The notional amount of all outstanding derivative contracts was $326.7 million at June 2019 , consisting primarily of contracts hedging exposures to the Mexican peso, euro, Canadian dollar, British pound, Swedish krona and Polish zloty. Derivative contracts have maturities up to 20 months. The following table presents outstanding derivatives on an individual contract basis: Fair Value of Derivatives with Unrealized Gains Fair Value of Derivatives with Unrealized Losses (in thousands) June 2019 June 2019 Foreign currency exchange contracts designated as hedging instruments $ 852 $ (3,916 ) Foreign currency exchange contracts not designated as hedging instruments 3 (56 ) Total derivatives $ 855 $ (3,972 ) The Company records and presents the fair value of all of its derivative assets and liabilities in the Company's balance sheets on a gross basis, even though they are subject to master netting agreements. If the Company were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Company's balance sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table: June 2019 (in thousands) Derivative Asset Derivative Liability Gross amounts presented in the balance sheet $ 855 $ (3,972 ) Gross amounts not offset in the balance sheet (5 ) 5 Net amounts $ 850 $ (3,967 ) Derivatives are classified as current or noncurrent based on maturity dates, as follows: (in thousands) June 2019 Other current assets $ 741 Accrued liabilities (3,263 ) Other assets 114 Other liabilities (709 ) Cash Flow Hedges The Company uses derivative contracts primarily to hedge a portion of the exchange risk for its forecasted sales, purchases, intercompany service fees and royalties. The effects of cash flows hedging included in the Company's statements of income and statements of comprehensive income are summarized as follows: (in thousands) Gain (Loss) on Derivatives Recognized in OCI Gain (Loss) on Derivatives Recognized in OCI Cash Flow Hedging Relationships 2019 2019 Foreign currency exchange $ (2,058 ) $ (2,058 ) (in thousands) Gain (Loss) Reclassified from Accumulated OCI into Income Gain (Loss) Reclassified from Accumulated OCI into Income Location of Gain (Loss) 2019 2019 Net sales $ (96 ) $ (96 ) Cost of goods sold 415 415 Other income (expense), net 43 43 Total $ 362 $ 362 Derivative Contracts Not Designated as Hedges The Company uses derivative contracts to manage foreign currency exchange risk on third-party accounts payable. These contracts are not designated as hedges and are recorded at fair value in the Company's balance sheets. Changes in the fair values of these instruments are recognized directly in earnings. Gains or losses on these contracts largely offset the net transaction gains or losses on the related assets and liabilities. Following is a summary of these derivatives included in the Company's statements of income: (in thousands) Location of Gain (Loss) Gain (Loss) on Derivatives Gain (Loss) on Derivatives Derivatives Not Designated as Hedges 2019 2019 Foreign currency exchange Cost of goods sold $ (57 ) $ (57 ) $ (57 ) $ (57 ) Other Derivative Information There were no significant amounts recognized in earnings for the ineffective portion of any hedging relationships during the three or six months ended June 2019 . In connection with the Separation, VF transferred $11.6 million of unrecognized gains on foreign currency exchange contracts related to the Jeanswear business. These gains were deferred in accumulated OCI and are being reclassified to earnings as the Company recognizes the underlying transactions in revenue. At June 2019 , accumulated OCI included $8.4 million

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 29, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Dividend On July 23, 2019 , the Board of Directors declared the first regular quarterly dividend of $0.56 per share of the Company's common stock. The cash dividend will be payable on September 20, 2019 , to shareholders of record at the close of business on September 10, 2019 . Interest Rate Swap On July 24, 2019, the Company entered into a ‘floating to fixed’ interest rate swap to mitigate the risk of changes in LIBOR rates on the Company's future interest payments. Because this derivative contract meets the criteria for hedge accounting, the related gains and losses will be accumulated through OCI and amortized through the April 18, 2024 maturity date. Tax Matter Switzerland voted to approve the Federal Act on Tax Reform and AHV Financing (“Swiss Tax Act”) on May 19, 2019, and the federal legislative process was completed and published in the official register on August 6, 2019. It is anticipated that the federal enactment of the Swiss Tax Act will not have a significant impact on the Company's financial statements. The related cantonal legislative process is expected to be completed by the end of the year. The associated tax effects, which could be significant to the Company's financial statements, will be reflected in the Company's quarterly results in the period in which the cantonal components of the Swiss Tax Act are enacted. Stock-based Compensation On July 23, 2019, the Board of Directors approved the grant of equity awards to the Company's employees and directors under the Kontoor Brands, Inc. 2019 Stock Compensation Plan. Approximately $24.0 million of stock-based compensation awards will be granted in August 2019 in the form of performance-based and time-based restricted stock units.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy	Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842),” an update that requires entities to record most leased assets and liabilities on the balance sheet, and also retains a dual model approach for assessing lease classification and recognizing expense. The FASB subsequently issued updates to provide clarification on specific topics, including adoption guidance, practical expedients and interim transition disclosure requirements. This guidance was adopted by the Company during the first quarter of fiscal 2019 utilizing the optional transition method, which resulted in a $2.7 million cumulative effect adjustment to beginning retained earnings for fiscal 2019. The adoption of these standards did not have a significant impact on the Company's statement of income and statement of cash flows. Refer to Note 3 of the Company's financial statements for additional information. In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities," an update that amends and simplifies certain aspects of hedge accounting rules to better portray the economic results of risk management activities in the financial statements. The FASB has subsequently issued updates to the standard to provide additional guidance on specific topics. This guidance was adopted by the Company during the first quarter of fiscal 2019 and did not have a significant impact on the Company's financial statements. In February 2018, the FASB issued ASU 2018-02, " Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, " an update that addresses the effect of the change in the U.S. federal corporate income tax rate due to the enactment of the Tax Act on items within accumulated other comprehensive income (loss). This guidance was adopted by the Company during the first quarter of fiscal 2019 and did not have a significant impact on the Company's financial statements. In July 2018, the FASB issued ASU 2018-09, "Codification Improvements," an update that provides technical corrections, clarifications and other improvements across a variety of accounting topics. The transition and effective date guidance is based on the facts and circumstances of each update; however, many of them became effective for the Company at the beginning of fiscal 2019. The adoption of this guidance did not have a significant impact on the Company's financial statements. Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on the consolidated and combined financial statements. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement," an update that modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its financial statement disclosures. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans," an update that modifies the disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its financial statement disclosures. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," an update that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance will be effective for the Company beginning in fiscal 2020. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on the consolidated and combined financial statements. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements.
Fair Value Measurement, Policy	Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities or (iii) information derived from or corroborated by observable market data. • Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be the Company's own data and judgments about assumptions that market participants would use in pricing the asset or liability.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 29, 2019
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	The following table presents the lease-related assets and liabilities recorded in the Company's balance sheet: (in thousands) June 2019 Assets Operating lease assets, noncurrent $ 90,416 Total lease assets $ 90,416 Liabilities Operating lease liabilities, current $ 34,439 Operating lease liabilities, noncurrent 58,594 Total lease liabilities $ 93,033 Weighted-average remaining lease term (in years) Operating leases 4.08 Weighted-average discount rate Operating leases 2.46 %
Schedule of Lease Costs	The following table presents certain information related to the lease costs for operating leases: (in thousands) Three Months Ended June 2019 Six Months Ended June 2019 Operating lease cost $ 11,343 $ 18,956 Short-term lease cost (excluding leases of one month or less) 1,015 1,506 Variable lease cost 735 3,551 Total lease costs $ 13,093 $ 24,013 The following table presents supplemental cash flow information related to leases: (in thousands) Six Months Ended June 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows impact - operating leases $ 22,950 Right-of-use assets obtained in exchange for new operating leases $ 23,446
Schedule of Maturities of Operating Leases	The following table reconciles maturities of operating lease liabilities as of June 2019 to the lease liabilities reflected in the Company's balance sheet: (in thousands) Lease Obligations 2019 (excluding the six months ended June 2019) $ 29,732 2020 29,141 2021 17,358 2022 8,285 2023 5,379 Thereafter 9,647 Total future minimum lease payments 99,542 Less: amounts related to imputed interest (6,509 ) Present value of future minimum lease payments 93,033 Less: operating lease liabilities, current (34,439 ) Operating lease liabilities, noncurrent $ 58,594
Schedule of Future Minimum Rental Payments Under Previous Accounting Standard	The following table presents the future minimum lease payments during the noncancelable lease terms as presented under ASC 840: (in thousands) December 2018 2019 $ 33,562 2020 29,246 2021 17,810 2022 7,932 2023 4,353 Thereafter 4,582 Total future minimum lease payments $ 97,485

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 29, 2019
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table provides information about accounts receivable, contract assets and contract liabilities recorded in the Company's balance sheets: (in thousands) June 2019 December 2018 June 2018 Accounts receivable, net $ 254,049 $ 252,966 $ 262,525 Contract assets (a) 2,529 2,841 1,387 Contract liabilities (b) 2,787 2,311 3,215 (a) Included in "other current assets" in the Company's balance sheets. (b) Included in "accrued liabilities" in the Company's balance sheets.
Disaggregation of Revenue	The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors. Revenues from licensing arrangements have been included within the U.S. or Non-U.S. Wholesale channels, based on the respective region covered by the agreement. Branded Direct-to-Consumer revenues include the distribution of our products via concession retail locations internationally, Wrangler ® and Lee ® branded full-price stores globally and Company-owned outlet stores globally. The Branded Direct-to-Consumer channel also includes our branded products sold in our U.S.-based VF Outlet™ stores and our products that are marketed and distributed online via www.wrangler.com and www.lee.com. The Other channel includes (i) sales of VF-branded and third-party branded merchandise in our VF Outlet™ stores, (ii) sales to VF for products manufactured in our plants and use of our transportation fleet and (iii) revenues from fulfilling a transition services agreement related to VF's sale of its Nautica ® brand business in mid-2018. Three Months Ended June 2019 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 299,040 $ 108,757 $ 4,710 $ 412,507 Non-U.S. Wholesale 40,569 56,845 633 98,047 Branded Direct-To-Consumer 24,383 41,306 14 65,703 Other — — 33,489 33,489 Total $ 363,992 $ 206,908 $ 38,846 $ 609,746 Geographic revenues U.S. $ 317,831 $ 130,795 $ 38,002 $ 486,628 International 46,161 76,113 844 123,118 Total $ 363,992 $ 206,908 $ 38,846 $ 609,746 Three Months Ended June 2018 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 311,222 $ 100,674 $ 7,094 $ 418,990 Non-U.S. Wholesale 59,624 73,076 26 132,726 Branded Direct-To-Consumer 26,899 44,023 27 70,949 Other — — 41,191 41,191 Total $ 397,745 $ 217,773 $ 48,338 $ 663,856 Geographic revenues U.S. $ 329,166 $ 122,655 $ 48,312 $ 500,133 International 68,579 95,118 26 163,723 Total $ 397,745 $ 217,773 $ 48,338 $ 663,856 Six Months Ended June 2019 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 575,865 $ 209,616 $ 11,435 $ 796,916 Non-U.S. Wholesale 109,224 157,741 633 267,598 Branded Direct-To-Consumer 48,838 81,082 14 129,934 Other — — 63,642 63,642 Total $ 733,927 $ 448,439 $ 75,724 $ 1,258,090 Geographic revenues U.S. $ 611,700 $ 249,915 $ 74,880 $ 936,495 International 122,227 198,524 844 321,595 Total $ 733,927 $ 448,439 $ 75,724 $ 1,258,090 Six Months Ended June 2018 (in thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 575,008 $ 210,933 $ 14,658 $ 800,599 Non-U.S. Wholesale 135,630 180,937 26 316,593 Branded Direct-To-Consumer 52,090 87,864 27 139,981 Other — — 76,346 76,346 Total $ 762,728 $ 479,734 $ 91,057 $ 1,333,519 Geographic revenues U.S. $ 608,806 $ 251,619 $ 91,031 $ 951,456 International 153,922 228,115 26 382,063 Total $ 762,728 $ 479,734 $ 91,057 $ 1,333,519

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 29, 2019
Inventory Disclosure [Abstract]
Inventories	(in thousands) June 2019 December 2018 June 2018 Finished products $ 457,508 $ 396,345 $ 412,365 Work-in-process 35,680 37,466 40,642 Raw materials 44,980 40,001 38,829 Total inventories $ 538,168 $ 473,812 $ 491,836

SHORT-TERM BORROWINGS AND DEBT

SHORT-TERM BORROWINGS AND DEBT (Tables)	6 Months Ended
	Jun. 29, 2019
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Short-term borrowings (in thousands) June 2019 December 2018 June 2018 International borrowing arrangements $ 2,829 $ 3,215 $ 5,062 Revolving Credit Facility — — — Short-term borrowings $ 2,829 $ 3,215 $ 5,062
Schedule of Long-term Debt Instruments	Long-term Debt (in thousands) June 2019 Term Loan A $ 694,166 Term Loan B 293,021 Total long-term debt 987,187 Less current portion 7,500 Long-term debt, due beyond one year $ 979,687

PENSION PLANS (Tables)

PENSION PLANS (Tables)	6 Months Ended
	Jun. 29, 2019
Retirement Benefits [Abstract]
Components of Pension Cost	The Company recognized the following net pension costs: Three Months Ended June Six Months Ended June (in thousands) 2019 2018 2019 2018 Service cost $ 681 $ 1,701 $ 1,017 $ 3,067 Non-service components (2,201 ) (266 ) (3,166 ) (2,361 ) Curtailment losses — 3,502 — 3,502 Settlement losses — 67 — 67 Net pension (benefit) costs $ (1,520 ) $ 5,004 $ (2,149 ) $ 4,275

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 29, 2019
Equity [Abstract]
Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in Accumulated OCI	The changes in accumulated OCL, net of related taxes, were as follows: Three Months Ended June 2019 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, March 2019 $ (144,424 ) $ — $ — $ (144,424 ) Other comprehensive income (loss) before reclassifications 4,686 (14 ) (2,058 ) 2,614 Amounts reclassified from accumulated other comprehensive income (loss) — — (362 ) (362 ) Net other comprehensive income (loss) 4,686 (14 ) (2,420 ) 2,252 Net transfers to former parent 57,897 (1,058 ) 11,645 68,484 Balance, June 2019 $ (81,841 ) $ (1,072 ) $ 9,225 $ (73,688 ) Three Months Ended June 2018 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, March 2018 $ (112,781 ) $ — $ — $ (112,781 ) Other comprehensive income (loss) before reclassifications (28,518 ) — — (28,518 ) Amounts reclassified from accumulated other comprehensive income (loss) — — — — Net other comprehensive income (loss) (28,518 ) — — (28,518 ) Balance, June 2018 $ (141,299 ) $ — $ — $ (141,299 ) Six Months Ended June 2019 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, December 2018 $ (145,182 ) $ — $ — $ (145,182 ) Other comprehensive income (loss) before reclassifications 5,444 (14 ) (2,058 ) 3,372 Amounts reclassified from accumulated other comprehensive income (loss) — — (362 ) (362 ) Net other comprehensive income (loss) 5,444 (14 ) (2,420 ) 3,010 Net transfers to former parent 57,897 (1,058 ) 11,645 68,484 Balance, June 2019 $ (81,841 ) $ (1,072 ) $ 9,225 $ (73,688 ) Six Months Ended June 2018 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (in thousands) Total Balance, December 2017 $ (122,482 ) $ — $ — $ (122,482 ) Other comprehensive income (loss) before reclassifications (18,817 ) — — (18,817 ) Amounts reclassified from accumulated other comprehensive income (loss) — — — — Net other comprehensive income (loss) (18,817 ) — — (18,817 ) Balance, June 2018 $ (141,299 ) $ — $ — $ (141,299 ) (in thousands) June 2019 December 2018 June 2018 Foreign currency translation $ (81,841 ) $ (145,182 ) $ (141,299 ) Defined benefit pension plans (1,072 ) — — Derivative financial instruments 9,225 — — Accumulated other comprehensive income (loss) $ (73,688 ) $ (145,182 ) $ (141,299 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Reclassifications out of accumulated OCL are as follows: Three Months Ended June Six Months Ended June (in thousands) Details About Accumulated Other Comprehensive Income (Income) Components Affected Line Item in the 2019 2018 2019 2018 Gains (losses) on derivative financial instruments: Foreign exchange contracts Net sales $ (96 ) $ — $ (96 ) $ — Foreign exchange contracts Cost of goods sold 415 — 415 — Foreign exchange contracts Other income (expense), net 43 — 43 — Total before tax 362 — 362 — Tax benefit — — — — Net of tax 362 — 362 — Total reclassifications for the period, net of tax $ 362 $ — $ 362 $ —

REPORTABLE SEGMENT INFORMATION

REPORTABLE SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
Financial Information for Reportable Segments	Financial information for the Company's reportable segments is as follows: Three Months Ended June Six Months Ended June (in thousands) 2019 2018 2019 2018 Segment revenues: Wrangler $ 363,992 $ 397,745 $ 733,927 $ 762,728 Lee 206,908 217,773 448,439 479,734 Other 38,846 48,338 75,724 91,057 Total segment revenues $ 609,746 $ 663,856 $ 1,258,090 $ 1,333,519 Segment profit: Wrangler $ 56,980 $ 67,670 $ 80,645 $ 130,616 Lee 13,747 18,065 31,380 54,054 Other 1,805 1,363 (1,280 ) (387 ) Total segment profit $ 72,532 $ 87,098 $ 110,745 $ 184,283 Corporate and other expenses (20,382 ) (12,605 ) (34,371 ) (18,579 ) Interest income from former parent, net 1,423 1,660 3,762 3,311 Interest expense (7,638 ) (416 ) (7,736 ) (781 ) Interest income 1,408 1,386 2,831 2,668 Income before income taxes $ 47,343 $ 77,123 $ 75,231 $ 170,902

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 29, 2019
Fair Value Disclosures [Abstract]
Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following table summarizes financial assets and financial liabilities that are measured and recorded in the Company's financial statements at fair value on a recurring basis: Fair Value Measurement Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 June 2019 Financial assets: Cash equivalents: Money market funds $ 5,385 $ 5,385 $ — $ — Time deposits 3,391 3,391 — — Derivative financial instruments 855 — 855 — Investment securities 61,799 58,343 3,456 — Financial liabilities: Derivative financial instruments 3,972 — 3,972 — Deferred compensation 61,799 — 61,799 — Fair Value Measurement Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 December 2018 Financial assets: Cash equivalents: Money market funds $ 21,687 $ 21,687 $ — $ — Time deposits 2,518 2,518 — — Investment securities 46,666 46,666 — — Financial liabilities: Deferred compensation 46,666 — 46,666 —

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended
	Jun. 29, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The components of the restructuring charges are as follows: (in thousands) Three Months Ended June 2019 Six Months Ended June 2019 Severance and employee-related benefits $ 1,746 $ 14,903 Asset impairments — 1,596 Inventory write-downs — 4,403 Other — 3,660 Total restructuring charges $ 1,746 $ 24,562 Restructuring costs by business segment are as follows: (in thousands) Three Months Ended June 2019 Six Months Ended June 2019 Wrangler $ 1,191 $ 17,613 Lee 461 6,685 Other 94 264 Total $ 1,746 $ 24,562
Activity in Restructuring	The activity in the restructuring accrual for the six -month period ended June 2019 is as follows: (in thousands) Severance Other Total Accrual at December 2018 $ 23,249 $ — $ 23,249 Charges 14,903 3,660 18,563 Cash payments (18,951 ) (839 ) (19,790 ) Adjustments to accruals 83 — 83 Currency translation (58 ) (197 ) (255 ) Adjustment at Separation (6,384 ) (2,624 ) (9,008 ) Accrual at June 2019 $ 12,842 $ — $ 12,842

TRANSACTIONS WITH FORMER PARE_2

TRANSACTIONS WITH FORMER PARENT (Tables)	6 Months Ended
	Jun. 29, 2019
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The components of the transfers to and from VF are as follows: Six Months Ended June (in thousands) 2019 (a) 2018 General financing activities $ (723,155 ) $ 203,402 Corporate allocations 47,903 61,465 Stock-based compensation expense 9,582 5,552 Pension (benefit) costs (2,246 ) 4,275 Purchases from parent 3,193 1,644 Sales to parent (13,988 ) (25,612 ) Other income tax 10,863 34,684 Transition tax related to the Tax Act 3,937 — Cash dividend to former parent (1,032,948 ) — Total net transfers (to) from former parent $ (1,696,859 ) $ 285,410 (a) Activity reflected through the Separation date Due from former parent, current consists of the following: (in thousands) December 2018 June 2018 Sale of trade accounts receivable $ 544,858 $ 553,355 Hedging agreements with VF 2,832 621 $ 547,690 $ 553,976 Due from former parent, noncurrent consists of the following: (in thousands) December 2018 June 2018 Hedging agreements with VF $ 611 $ — Due to former parent, current consists of the following: (in thousands) December 2018 June 2018 Sourcing payable $ 16,140 $ 59,424

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended June Six Months Ended June (in thousands, except per share amounts) 2019 2018 2019 2018 Net income $ 37,986 $ 60,458 $ 53,399 $ 140,154 Basic weighted average shares outstanding 56,648 56,648 56,648 56,648 Dilutive effect of stock-based awards 272 — 131 — Diluted weighted average shares outstanding 56,920 56,648 56,779 56,648 Earnings per share: Basic earnings per share $ 0.67 $ 1.07 $ 0.94 $ 2.47 Diluted earnings per share 0.67 1.07 0.94 2.47

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Exchange Contracts, Statement of Financial Position	The Company records and presents the fair value of all of its derivative assets and liabilities in the Company's balance sheets on a gross basis, even though they are subject to master netting agreements. If the Company were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Company's balance sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table: June 2019 (in thousands) Derivative Asset Derivative Liability Gross amounts presented in the balance sheet $ 855 $ (3,972 ) Gross amounts not offset in the balance sheet (5 ) 5 Net amounts $ 850 $ (3,967 ) Derivatives are classified as current or noncurrent based on maturity dates, as follows: (in thousands) June 2019 Other current assets $ 741 Accrued liabilities (3,263 ) Other assets 114 Other liabilities (709 ) The following table presents outstanding derivatives on an individual contract basis: Fair Value of Derivatives with Unrealized Gains Fair Value of Derivatives with Unrealized Losses (in thousands) June 2019 June 2019 Foreign currency exchange contracts designated as hedging instruments $ 852 $ (3,916 ) Foreign currency exchange contracts not designated as hedging instruments 3 (56 ) Total derivatives $ 855 $ (3,972 )
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The Company uses derivative contracts primarily to hedge a portion of the exchange risk for its forecasted sales, purchases, intercompany service fees and royalties. The effects of cash flows hedging included in the Company's statements of income and statements of comprehensive income are summarized as follows: (in thousands) Gain (Loss) on Derivatives Recognized in OCI Gain (Loss) on Derivatives Recognized in OCI Cash Flow Hedging Relationships 2019 2019 Foreign currency exchange $ (2,058 ) $ (2,058 ) (in thousands) Gain (Loss) Reclassified from Accumulated OCI into Income Gain (Loss) Reclassified from Accumulated OCI into Income Location of Gain (Loss) 2019 2019 Net sales $ (96 ) $ (96 ) Cost of goods sold 415 415 Other income (expense), net 43 43 Total $ 362 $ 362
Derivatives Not Designated as Hedging Instruments	Following is a summary of these derivatives included in the Company's statements of income: (in thousands) Location of Gain (Loss) Gain (Loss) on Derivatives Gain (Loss) on Derivatives Derivatives Not Designated as Hedges 2019 2019 Foreign currency exchange Cost of goods sold $ (57 ) $ (57 ) $ (57 ) $ (57 )

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Thousands	May 22, 2019	May 17, 2019USD ($)	Jun. 29, 2019USD ($)	Jun. 30, 2018USD ($)
Accounting Policies [Abstract]
Spinoff transaction, conversion ratio	0.1428571429
Transfer to related party		$ (1,050,000)	$ 1,696,859	$ (285,410)

RECENTLY ADOPTED AND ISSUED A_2

RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS - (Details) - USD ($) $ in Thousands	Dec. 30, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting standard	$ 2,713	$ (3,047)
Former Parent Investment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting standard	$ 2,713	$ (3,047)

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($) $ in Millions	Jun. 29, 2019	Jun. 30, 2018	Jun. 30, 2018
Lessee, Lease, Description [Line Items]
Short term lease, excluded from recognition	12 months
Rent expense		$ 10.6	$ 21.2
Lease not yet commenced	$ 1.3
Real Estate | Minimum
Lessee, Lease, Description [Line Items]
Term of contract	3 years
Real Estate | Maximum
Lessee, Lease, Description [Line Items]
Term of contract	15 years
Equipment | Minimum
Lessee, Lease, Description [Line Items]
Term of contract	2 years
Equipment | Maximum
Lessee, Lease, Description [Line Items]
Term of contract	7 years

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Assets
Operating lease assets, noncurrent	$ 90,416	$ 0	$ 0
Liabilities
Operating lease liabilities, current	34,439	0	0
Operating lease liabilities, noncurrent	58,594	$ 0	$ 0
Total lease liabilities	$ 93,033
Weighted-average remaining lease term (in years)
Operating leases	4 years 29 days
Weighted-average discount rate
Operating leases	2.46%

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Leases [Abstract]
Operating lease cost	$ 11,343	$ 18,956
Short-term lease cost (excluding leases of one month or less)	1,015	1,506
Variable lease cost	735	3,551
Total lease costs	$ 13,093	24,013
Operating cash flows impact - operating leases		22,950
Right-of-use assets obtained in exchange for new operating leases		$ 23,446

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Leases (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Leases [Abstract]
2019 (excluding the six months ended June 2019)	$ 29,732
2020	29,141
2021	17,358
2022	8,285
2023	5,379
Thereafter	9,647
Total future minimum lease payments	99,542
Less: amounts related to imputed interest	(6,509)
Total lease liabilities	93,033
Less: operating lease liabilities, current	(34,439)	$ 0	$ 0
Operating lease liabilities, noncurrent	$ 58,594	$ 0	$ 0

LEASES - Future Minimum Rental

LEASES - Future Minimum Rental Payments Under Previous Accounting Standard (Details) $ in Thousands	Dec. 29, 2018USD ($)
Leases [Abstract]
2019	$ 33,562
2020	29,246
2021	17,810
2022	7,932
2023	4,353
Thereafter	4,582
Total future minimum lease payments	$ 97,485

REVENUES - Remaining Performanc

REVENUES - Remaining Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01 $ in Millions	Jun. 29, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 77.4
Expected timing of satisfaction	9 years 6 months

REVENUES - Contract Assets and

REVENUES - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 254,049	$ 252,966	$ 262,525
Contract assets	2,529	2,841	1,387
Contract liabilities	$ 2,787	$ 2,311	$ 3,215

REVENUES - Additional Informati

REVENUES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 0.2	$ 0.3	$ 1.5	$ 1.5

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 609,746	$ 663,856	$ 1,258,090	$ 1,333,519
U.S.
Disaggregation of Revenue [Line Items]
Revenue	486,628	500,133	936,495	951,456
International
Disaggregation of Revenue [Line Items]
Revenue	123,118	163,723	321,595	382,063
Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	412,507	418,990	796,916	800,599
Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	98,047	132,726	267,598	316,593
Branded Direct-To-Consumer
Disaggregation of Revenue [Line Items]
Revenue	65,703	70,949	129,934	139,981
Other
Disaggregation of Revenue [Line Items]
Revenue	33,489	41,191	63,642	76,346
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	609,746	663,856	1,258,090	1,333,519
Operating Segments | Wrangler
Disaggregation of Revenue [Line Items]
Revenue	363,992	397,745	733,927	762,728
Operating Segments | Wrangler | U.S.
Disaggregation of Revenue [Line Items]
Revenue	317,831	329,166	611,700	608,806
Operating Segments | Wrangler | International
Disaggregation of Revenue [Line Items]
Revenue	46,161	68,579	122,227	153,922
Operating Segments | Wrangler | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	299,040	311,222	575,865	575,008
Operating Segments | Wrangler | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	40,569	59,624	109,224	135,630
Operating Segments | Wrangler | Branded Direct-To-Consumer
Disaggregation of Revenue [Line Items]
Revenue	24,383	26,899	48,838	52,090
Operating Segments | Wrangler | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Operating Segments | Lee
Disaggregation of Revenue [Line Items]
Revenue	206,908	217,773	448,439	479,734
Operating Segments | Lee | U.S.
Disaggregation of Revenue [Line Items]
Revenue	130,795	122,655	249,915	251,619
Operating Segments | Lee | International
Disaggregation of Revenue [Line Items]
Revenue	76,113	95,118	198,524	228,115
Operating Segments | Lee | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	108,757	100,674	209,616	210,933
Operating Segments | Lee | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	56,845	73,076	157,741	180,937
Operating Segments | Lee | Branded Direct-To-Consumer
Disaggregation of Revenue [Line Items]
Revenue	41,306	44,023	81,082	87,864
Operating Segments | Lee | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Operating Segments | Other
Disaggregation of Revenue [Line Items]
Revenue	38,846	48,338	75,724	91,057
Other | Other
Disaggregation of Revenue [Line Items]
Revenue	38,846	48,338	75,724	91,057
Other | Other | U.S.
Disaggregation of Revenue [Line Items]
Revenue	38,002	48,312	74,880	91,031
Other | Other | International
Disaggregation of Revenue [Line Items]
Revenue	844	26	844	26
Other | Other | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	4,710	7,094	11,435	14,658
Other | Other | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	633	26	633	26
Other | Other | Branded Direct-To-Consumer
Disaggregation of Revenue [Line Items]
Revenue	14	27	14	27
Other | Other | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 33,489	$ 41,191	$ 63,642	$ 76,346

SALE OF ACCOUNTS RECEIVABLE (De

SALE OF ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Dec. 29, 2018
Receivables [Abstract]
Maximum amount of accounts receivable sold at any point in time (up to)	$ 377.5		$ 377.5
Sale of accounts receivable			518.7	$ 526.6
Accounts receivable removed related to sale of accounts receivable	188.2	$ 553.4	188.2	553.4	$ 544.9
Funding fee	$ 1.5	$ 1.4	$ 2.9	$ 2.4

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Inventory Disclosure [Abstract]
Finished products	$ 457,508	$ 396,345	$ 412,365
Work-in-process	35,680	37,466	40,642
Raw materials	44,980	40,001	38,829
Total inventories	$ 538,168	$ 473,812	$ 491,836

SHORT-TERM BORROWINGS AND DEB_2

SHORT-TERM BORROWINGS AND DEBT - Additional Information (Details) - USD ($)	May 17, 2019	Jun. 29, 2019	Jun. 29, 2019	Jun. 30, 2018	Dec. 29, 2018
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 1,550,000,000
Short-term borrowings		$ 2,829,000	$ 2,829,000	$ 5,062,000	$ 3,215,000
Commitment fee			0.075%
Commitment fee percentage			0.30%
Repayments of term loan		50,000,000	$ 50,000,000	0
Revolving Credit Facility
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 500,000,000
Debt instrument, term	5 years
Remaining borrowing capacity		498,700,000	498,700,000
Short-term borrowings		0	0	0	0
Letter of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity		75,000,000	75,000,000
Long-term line of credit		1,300,000	1,300,000
International borrowing arrangements
Short-term Debt [Line Items]
Maximum borrowing capacity		49,000,000	49,000,000
Short-term borrowings		2,829,000	2,829,000	$ 5,062,000	$ 3,215,000
Term Loan A facility | Term Loan
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 750,000,000
Debt instrument, term	5 years
Long-term debt		$ 700,000,000	$ 700,000,000
Effective annual interest rate		4.30%	4.30%
Term Loan B facility | Term Loan
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 300,000,000
Debt instrument, term	7 years
Long-term debt		$ 300,000,000	$ 300,000,000
Effective annual interest rate		6.80%	6.80%
Base Rate | Term Loan A facility | Term Loan
Short-term Debt [Line Items]
Basis spread			1.75%
Base Rate | Term Loan B facility | Term Loan
Short-term Debt [Line Items]
Basis spread			3.25%
London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread			1.75%
London Interbank Offered Rate (LIBOR) | Term Loan A facility | Term Loan
Short-term Debt [Line Items]
Basis spread			0.75%
London Interbank Offered Rate (LIBOR) | Term Loan B facility | Term Loan
Short-term Debt [Line Items]
Basis spread			4.25%
Minimum | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread			0.00%

SHORT-TERM BORROWINGS AND DEB_3

SHORT-TERM BORROWINGS AND DEBT - Short-term borrowings (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Short-term Debt [Line Items]
Short-term borrowings	$ 2,829	$ 3,215	$ 5,062
International borrowing arrangements
Short-term Debt [Line Items]
Short-term borrowings	2,829	3,215	5,062
Revolving Credit Facility
Short-term Debt [Line Items]
Short-term borrowings	$ 0	$ 0	$ 0

SHORT-TERM BORROWINGS AND DEB_4

SHORT-TERM BORROWINGS AND DEBT - Debt (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Debt Instrument [Line Items]
Total long-term debt	$ 987,187
Less current portion	7,500	$ 0	$ 0
Long-term debt, due beyond one year	979,687	$ 0	$ 0
Term Loan A facility | Term Loan
Debt Instrument [Line Items]
Total long-term debt	694,166
Term Loan B facility | Term Loan
Debt Instrument [Line Items]
Total long-term debt	$ 293,021

PENSION PLANS - Components of P

PENSION PLANS - Components of Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Retirement Benefits [Abstract]
Service cost	$ 681	$ 1,701	$ 1,017	$ 3,067
Non-service components	(2,201)	(266)	(3,166)	(2,361)
Curtailment losses	0	3,502		3,502
Settlement losses	0	67		67
Net pension (benefit) costs	$ (1,520)	$ 5,004	$ (2,149)	$ 4,275

PENSION PLANS - Additional Info

PENSION PLANS - Additional Information (Details) $ in Millions	May 17, 2019USD ($)
Compensation Related Costs [Abstract]
Increase in obligation	$ 11
Prior Service cost, OCI	$ 1.1

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Equity [Abstract]
Foreign currency translation	$ (81,841)	$ (145,182)	$ (141,299)
Defined benefit pension plans	(1,072)	0	0
Derivative financial instruments	9,225	0	0
Accumulated other comprehensive income (loss)	$ (73,688)	$ (145,182)	$ (141,299)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in Accumulated OCI, Net of Related Taxes (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 29, 2019	Jun. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	$ 1,578,982	$ 1,723,452	$ 1,563,782	$ 1,357,893	$ 1,723,452	$ 1,357,893
Other comprehensive income (loss) before reclassifications	2,614		(28,518)		3,372	(18,817)
Amounts reclassified from accumulated other comprehensive income (loss)	(362)		0		(362)	0
Net other comprehensive income (loss)	2,252		(28,518)		3,010	(18,817)
Net transfers to former parent	(1,538,931)	(157,928)	171,965	113,445
Balance, ending	82,168	1,578,982	1,767,687	1,563,782	82,168	1,767,687
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(144,424)	(145,182)	(112,781)	(122,482)	(145,182)	(122,482)
Other comprehensive income (loss) before reclassifications	4,686		(28,518)		5,444	(18,817)
Amounts reclassified from accumulated other comprehensive income (loss)	0		0		0	0
Net other comprehensive income (loss)	4,686		(28,518)		5,444	(18,817)
Net transfers to former parent	57,897				57,897
Balance, ending	(81,841)	(144,424)	(141,299)	(112,781)	(81,841)	(141,299)
Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	0	0	0	0	0	0
Other comprehensive income (loss) before reclassifications	(14)		0		(14)	0
Amounts reclassified from accumulated other comprehensive income (loss)	0		0		0	0
Net other comprehensive income (loss)	(14)		0		(14)	0
Net transfers to former parent	(1,058)				(1,058)
Balance, ending	(1,072)	0	0	0	(1,072)	0
Derivative Financial Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	0	0	0	0	0	0
Other comprehensive income (loss) before reclassifications	(2,058)		0		(2,058)	0
Amounts reclassified from accumulated other comprehensive income (loss)	(362)		0		(362)	0
Net other comprehensive income (loss)	(2,420)		0		(2,420)	0
Net transfers to former parent	11,645				11,645
Balance, ending	9,225	0	0	0	9,225	0
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(144,424)	(145,182)	(112,781)	(122,482)	(145,182)	(122,482)
Net transfers to former parent	68,484				68,484
Balance, ending	$ (73,688)	$ (144,424)	$ (141,299)	$ (112,781)	$ (73,688)	$ (141,299)

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassification Out of Accumulated OCI (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 29, 2019	Jun. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenues	$ 609,746		$ 663,856		$ 1,258,090	$ 1,333,519
Other income (expense), net	(1,370)		(1,241)		(2,341)	(2,438)
Total before tax	47,343		77,123		75,231	170,902
Income taxes	9,357		16,665		21,832	30,748
Net of tax	37,986	$ 15,413	60,458	$ 79,696	53,399	140,154
Total reclassifications for the period, net of tax	362		0		362	0
Derivative Financial Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	362		0		362	0
Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	362		0		362	0
Income taxes	0		0		0	0
Net of tax	362		0		362	0
Foreign exchange contracts | Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenues	(96)		0		(96)	0
Cost of goods sold	415		0		415	0
Other income (expense), net	$ 43		$ 0		$ 43	$ 0

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	May 17, 2019	Jun. 29, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares converted in period (in shares)	2.4
Compensation cost not yet recognized		$ 7.7

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	29.00%	18.00%
Net discrete tax benefits	$ 0.7	$ 6.5
Tax benefit related stock compensation	3.1	1.4
Realization of unrecognized net tax benefit (expense)	$ 3.8	$ 5.1
Tax increase (reduction) due to discrete items	0.90%	(3.80%)
Change in effective income tax rate without discrete items	6.30%
Decrease in unrecognized tax benefits and associated interest	$ 39
Net unrecognized tax benefits and interest, if recognized, would reduce the annual effective tax rate	12.3
Possible decrease in unrecognized income tax benefits	$ 0.5

REPORTABLE SEGMENT INFORMATIO_2

REPORTABLE SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	May 30, 2019	Jun. 29, 2019	Jun. 30, 2018	May 30, 2019	Jun. 29, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Total segment revenues		$ 609,746	$ 663,856		$ 1,258,090	$ 1,333,519
Operating income		53,520	75,734		78,715	168,142
Interest income from former parent, net	$ 1,400	1,423	1,660	$ 3,800	3,762	3,311
Interest expense		(7,638)	(416)		(7,736)	(781)
Interest income		1,408	1,386		2,831	2,668
Income before income taxes		47,343	77,123		75,231	170,902
Operating Segments
Segment Reporting Information [Line Items]
Total segment revenues		609,746	663,856		1,258,090	1,333,519
Operating income		72,532	87,098		110,745	184,283
Operating Segments | Wrangler
Segment Reporting Information [Line Items]
Total segment revenues		363,992	397,745		733,927	762,728
Operating income		56,980	67,670		80,645	130,616
Operating Segments | Lee
Segment Reporting Information [Line Items]
Total segment revenues		206,908	217,773		448,439	479,734
Operating income		13,747	18,065		31,380	54,054
Operating Segments | Other
Segment Reporting Information [Line Items]
Total segment revenues		38,846	48,338		75,724	91,057
Operating income		1,805	1,363		(1,280)	(387)
Corporate and other expenses
Segment Reporting Information [Line Items]
Corporate and other expenses		(20,382)	(12,605)		(34,371)	(18,579)
Interest income from former parent, net		1,423	1,660		3,762	3,311
Other | Other
Segment Reporting Information [Line Items]
Total segment revenues		$ 38,846	$ 48,338		$ 75,724	$ 91,057

FAIR VALUE MEASUREMENTS - Measu

FAIR VALUE MEASUREMENTS - Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Financial assets:
Money market funds	$ 5,385	$ 21,687
Time deposits	3,391	2,518
Derivative financial instruments	855
Investment securities	61,799	46,666
Financial liabilities:
Derivative financial instruments	3,972
Deferred compensation	61,799	46,666
Level 1
Financial assets:
Money market funds	5,385	21,687
Time deposits	3,391	2,518
Derivative financial instruments	0
Investment securities	58,343	46,666
Financial liabilities:
Derivative financial instruments	0
Deferred compensation	0	0
Level 2
Financial assets:
Money market funds	0	0
Time deposits	0	0
Derivative financial instruments	855
Investment securities	3,456	0
Financial liabilities:
Derivative financial instruments	3,972
Deferred compensation	61,799	46,666
Level 3
Financial assets:
Money market funds	0	0
Time deposits	0	0
Derivative financial instruments	0
Investment securities	0	0
Financial liabilities:
Derivative financial instruments	0
Deferred compensation	$ 0	$ 0

FAIR VALUE MEASUREMENTS -Additi

FAIR VALUE MEASUREMENTS -Additional Information (Details) $ in Thousands	Jun. 29, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 987,187
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 990,600

RESTRUCTURING - Additional Info

RESTRUCTURING - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019	Dec. 29, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,746	$ 24,562
Restructuring reserve	12,842	12,842	$ 23,249
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,700	13,800
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 10,800

RESTRUCTURING - Restructuring c

RESTRUCTURING - Restructuring costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Restructuring and Related Activities [Abstract]
Severance and employee-related benefits	$ 1,746	$ 14,903
Asset impairments	0	1,596
Inventory write-downs	0	4,403
Other	0	3,660
Total restructuring charges	$ 1,746	$ 24,562

RESTRUCTURING - Restructuring_2

RESTRUCTURING - Restructuring costs by business segment (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,746	$ 24,562
Operating Segments | Wrangler
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,191	17,613
Operating Segments | Lee
Restructuring Cost and Reserve [Line Items]
Restructuring charges	461	6,685
Operating Segments | Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 94	$ 264

RESTRUCTURING - Activity in res

RESTRUCTURING - Activity in restructuring accrual (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	$ 23,249
Charges	18,563
Cash payments	(19,790)
Adjustments to accruals	83
Currency translation	(255)
Adjustment at Separation	(9,008)
Amounts recorded in accrued liabilities. ending	12,842
Severance
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	23,249
Charges	14,903
Cash payments	(18,951)
Adjustments to accruals	83
Currency translation	(58)
Adjustment at Separation	(6,384)
Amounts recorded in accrued liabilities. ending	12,842
Other
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	0
Charges	3,660
Cash payments	(839)
Adjustments to accruals	0
Currency translation	(197)
Adjustment at Separation	(2,624)
Amounts recorded in accrued liabilities. ending	$ 0

TRANSACTIONS WITH FORMER PARE_3

TRANSACTIONS WITH FORMER PARENT - Additional Information (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	May 30, 2019	Jun. 29, 2019	Jun. 30, 2018	May 30, 2019	Jun. 29, 2019	Jun. 30, 2018	Dec. 29, 2018
Related Party Transactions [Abstract]
Sales to related party	$ 3,400		$ 12,100	$ 14,100		$ 25,600
Related party transaction, cost of goods sold	200		400	500		1,200
Related party transaction, remaining inventory purchased from related party		$ 1,000	2,300		$ 1,000	2,300	$ 800
Notes receivable from former parent		0	$ 546,740		0	$ 546,740	$ 517,940
Related party transaction, weighted average note receivable rate			2.40%			2.40%	3.40%
Notes payable to former parent		0	$ 269,112		0	$ 269,112	$ 269,112
Related party transaction, weighted average note payable rate			2.30%			2.30%	3.40%
Interest income from former parent, net	$ 1,400	$ 1,423	$ 1,660	$ 3,800	$ 3,762	$ 3,311

TRANSACTIONS WITH FORMER PARE_4

TRANSACTIONS WITH FORMER PARENT - Due from related parties, current (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Related Party Transaction [Line Items]
Due from former parent, current	$ 0	$ 547,690	$ 553,976
Sale of trade accounts receivable
Related Party Transaction [Line Items]
Due from former parent, current		544,858	553,355
Hedging agreements with VF
Related Party Transaction [Line Items]
Due from former parent, current		$ 2,832	$ 621

TRANSACTIONS WITH FORMER PARE_5

TRANSACTIONS WITH FORMER PARENT - Due from related parties, noncurrent (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Related Party Transaction [Line Items]
Due from former parent, noncurrent	$ 0	$ 611	$ 0
Hedging agreements with VF
Related Party Transaction [Line Items]
Due from former parent, noncurrent		$ 611	$ 0

TRANSACTIONS WITH FORMER PARE_6

TRANSACTIONS WITH FORMER PARENT - Due to related parties, current (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018
Related Party Transaction [Line Items]
Due to former parent, current	$ 0	$ 16,140	$ 59,424
Sourcing payable
Related Party Transaction [Line Items]
Due to former parent, current		$ 16,140	$ 59,424

TRANSACTIONS WITH FORMER PARE_7

TRANSACTIONS WITH FORMER PARENT - Net Transfers To and From VF (Details) - USD ($) $ in Thousands	May 17, 2019	Jun. 29, 2019	Jun. 30, 2018
Related Party Transaction [Line Items]
Transfer (To) From Related Party	$ 1,050,000	$ (1,696,859)	$ 285,410
General financing activities
Related Party Transaction [Line Items]
Transfer (To) From Related Party		(723,155)	203,402
Corporate allocations
Related Party Transaction [Line Items]
Transfer (To) From Related Party		47,903	61,465
Stock-based compensation expense
Related Party Transaction [Line Items]
Transfer (To) From Related Party		9,582	5,552
Pension (benefit) costs
Related Party Transaction [Line Items]
Transfer (To) From Related Party		(2,246)	4,275
Purchases from parent
Related Party Transaction [Line Items]
Transfer (To) From Related Party		3,193	1,644
Sales to parent
Related Party Transaction [Line Items]
Transfer (To) From Related Party		(13,988)	(25,612)
Other income tax
Related Party Transaction [Line Items]
Transfer (To) From Related Party		10,863	34,684
Transition tax related to the Tax Act
Related Party Transaction [Line Items]
Transfer (To) From Related Party		3,937	0
Cash dividend to former parent
Related Party Transaction [Line Items]
Transfer (To) From Related Party		$ (1,032,948)	$ 0

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details)	May 22, 2019shares
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic and diluted (in shares)	56,647,561

EARNINGS PER SHARE - Earnings p

EARNINGS PER SHARE - Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 29, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 37,986	$ 15,413	$ 60,458	$ 79,696	$ 53,399	$ 140,154
Basic weighted average shares outstanding (in shares)	56,648		56,648		56,648	56,648
Dilutive effect of stock-based awards (in shares)	272		0		131	0
Diluted weighted average shares outstanding (in shares)	56,920		56,648		56,779	56,648
Earnings per share:
Basic earnings per share (in USD per share)	$ 0.67		$ 1.07		$ 0.94	$ 2.47
Diluted earnings per share (in USD per share)	$ 0.67		$ 1.07		$ 0.94	$ 2.47

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Additional information (Details) - USD ($) $ in Millions	May 17, 2019	Jun. 29, 2019
Derivative [Line Items]
Derivatives		$ 326.7
Foreign currency hedge gain (loss) to be reclassified during next 12 months		$ 8.4
Foreign exchange contracts
Derivative [Line Items]
Derivative instruments, estimated net amount to be transferred	$ 11.6

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding derivatives on an individual contract basis (Details) $ in Thousands	Jun. 29, 2019USD ($)
Fair Value of Derivatives with Unrealized Gains
Foreign currency exchange contracts designated as hedging instruments	$ 852
Foreign currency exchange contracts not designated as hedging instruments	3
Foreign currency exchange contracts	855
Fair Value of Derivatives with Unrealized Losses
Foreign currency exchange contracts designated as hedging instruments	(3,916)
Foreign currency exchange contracts not designated as hedging instruments	(56)
Foreign currency exchange contracts	$ (3,972)

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Balance sheet (Details) $ in Thousands	Jun. 29, 2019USD ($)
Derivative Asset
Gross amounts presented in the balance sheet	$ 855
Gross amounts not offset in the balance sheet	(5)
Derivative Asset	850
Derivative Liability
Gross amounts presented in the balance sheet	(3,972)
Gross amounts not offset in the balance sheet	5
Derivative Liability	$ (3,967)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivatives are classified as current or noncurrent (Details) $ in Thousands	Jun. 29, 2019USD ($)
Derivatives, Fair Value [Line Items]
Derivative asset	$ 855
Derivative financial instruments	3,972
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	741
Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative financial instruments	(3,263)
Other assets
Derivatives, Fair Value [Line Items]
Derivative asset	114
Other liabilities
Derivatives, Fair Value [Line Items]
Derivative financial instruments	$ (709)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Cash flows hedges (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (Loss) on Derivatives Recognized in OCI	$ (2,058)	$ (2,058)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Location of gain (loss) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	$ 362	$ 362
Net sales
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	(96)	(96)
Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	415	415
Other income (expense), net
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	$ 43	$ 43

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative contracts not designated as hedges (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Derivative [Line Items]
Foreign currency exchange	$ (57)	$ (57)
Cost of goods sold
Derivative [Line Items]
Foreign currency exchange	$ (57)	$ (57)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 23, 2019	Aug. 31, 2019
Subsequent Event
Subsequent Event [Line Items]
Dividends (in USD per share)	$ 0.56
Restricted Stock Units (RSUs) [Member] | Scenario, Forecast
Subsequent Event [Line Items]
RSU, grants in period		$ 24