Kontoor Brands (KTB) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 26, 2020	Oct. 23, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 26, 2020
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		57,205,370
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001760965
Current Fiscal Year End Date	--12-28

Combined Balance Sheets (Unaudi

Combined Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Current assets
Cash and equivalents	$ 285,251	$ 106,808	$ 40,804
Accounts receivable, net	221,971	228,459	302,582
Inventories	432,280	458,101	545,426
Prepaid expenses and other current assets	81,781	84,235	73,162
Total current assets	1,021,283	877,603	961,974
Property, plant and equipment, net	122,739	132,192	126,963
Operating lease assets	71,075	86,582	96,590
Intangible assets, net	16,458	17,293	17,530
Goodwill	212,637	212,836	212,834
Other assets	224,532	190,650	169,874
TOTAL ASSETS	1,668,724	1,517,156	1,585,765
Current liabilities
Current portion of long-term debt	148	1,070	6,028
Current portion of long-term debt	15,625	0	7,500
Accounts payable	207,564	147,347	149,685
Accrued liabilities	206,521	194,744	190,353
Operating lease liabilities, current	33,065	35,389	35,992
Total current liabilities	462,923	378,550	389,558
Operating lease liabilities, noncurrent	43,023	54,746	64,328
Other liabilities	115,040	101,334	95,701
Long-term debt	1,021,710	913,269	980,607
Commitments and contingencies
Total liabilities	1,642,696	1,447,899	1,530,194
Equity
Preferred Stock, no par value; shares authorized, 90,000,000; no shares outstanding at September 2020, December 2019 and September 2019	0	0	0
Common Stock, no par value; shares authorized, 600,000,000; shares outstanding of 57,070,368 at September 2020; 56,811,198 at December 2019 and 56,726,746 at September 2019	0	0	0
Additional paid-in capital	161,297	150,673	142,340
(Accumulated deficit) retained earnings	(12,472)	(1,718)	2,066
Accumulated other comprehensive loss	(122,797)	(79,698)	(88,835)
Total equity	26,028	69,257	55,571
TOTAL LIABILITIES AND EQUITY	$ 1,668,724	$ 1,517,156	$ 1,585,765

Combined Balance Sheets (Unau_2

Combined Balance Sheets (Unaudited) (Parenthetical) - shares	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Statement of Financial Position [Abstract]
Preferred Stock, shares authorized (in shares)	90,000,000	90,000,000	90,000,000
Preferred Stock, shares outstanding (in shares)	0	0	0
Common Stock, shares authorized (in shares)	600,000,000	600,000,000	600,000,000
Common Stock, shares outstanding (in shares)	57,070,368	56,811,198	56,726,746

Consolidated and Combined State

Consolidated and Combined Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Income Statement [Abstract]
Net revenues	$ 583,222	$ 638,138	$ 1,436,974	$ 1,896,228
Costs and operating expenses
Cost of goods sold	325,512	382,181	854,134	1,157,383
Selling, general and administrative expenses	174,846	192,293	521,935	596,466
Non-cash impairment of intangible asset	0	32,636	0	32,636
Total costs and operating expenses	500,358	607,110	1,376,069	1,786,485
Operating income	82,864	31,028	60,905	109,743
Interest income from former parent, net	0	0	0	3,762
Interest expense	(13,249)	(14,140)	(37,308)	(21,876)
Interest income	283	712	1,255	3,543
Other expense, net	(751)	(1,456)	(1,710)	(3,797)
Income before income taxes	69,147	16,144	23,142	91,375
Income taxes	8,362	1,642	(1,669)	23,474
Net income	$ 60,785	$ 14,502	$ 24,811	$ 67,901
Earnings per common share
Basic (in USD per share)	$ 1.07	$ 0.26	$ 0.44	$ 1.20
Diluted (in USD per share)	$ 1.05	$ 0.25	$ 0.43	$ 1.19
Weighted average shares outstanding
Basic (in shares)	57,007	56,694	56,938	56,663
Diluted (in shares)	57,642	57,401	57,669	56,989

Consolidated and Combined Sta_2

Consolidated and Combined Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 60,785	$ 14,502	$ 24,811	$ 67,901
Foreign currency translation
Gains (losses) arising during the period	7,072	(11,358)	(16,939)	(5,914)
Defined benefit pension plans
Net change in deferred (gains) losses during the period	(67)	297	(55)	283
Derivative financial instruments
Losses arising during the period	(469)	(468)	(24,944)	(2,526)
Reclassification to net income for gains (losses) realized	1,965	(3,618)	(1,161)	(3,980)
Total other comprehensive income (loss), net of related taxes	8,501	(15,147)	(43,099)	(12,137)
Comprehensive income (loss)	$ 69,286	$ (645)	$ (18,288)	$ 55,764

Combined Statements of Cash Flo

Combined Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
OPERATING ACTIVITIES
Net income	$ 24,811	$ 67,901
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	24,384	23,020
Stock-based compensation	9,738	17,798
Provision for doubtful accounts	19,642	5,386
Non-cash impairment of intangible asset	0	32,636
Other	(17,337)	(8,904)
Changes in operating assets and liabilities:
Accounts receivable	(16,250)	(52,525)
Inventories	23,777	(79,534)
Due from former parent	0	548,301
Accounts payable	58,534	34,831
Income taxes	4,406	1,715
Accrued liabilities	3,330	14,278
Due to former parent	0	(16,065)
Other assets and liabilities	(5,352)	(10,457)
Cash provided by operating activities	129,683	578,381
INVESTING ACTIVITIES
Property, plant and equipment expenditures	(16,481)	(11,750)
Capitalized computer software	(30,038)	(898)
Collection of notes receivable from former parent	0	517,940
Proceeds from sales of assets	13,068	2,049
Other	(3,651)	(422)
Cash (used) provided by investing activities	(37,102)	506,919
FINANCING ACTIVITIES
Borrowings under revolving credit facility	512,500	30,000
Repayments under revolving credit facility	(387,500)	(30,000)
Proceeds from issuance of term loans	0	1,050,000
Payment of deferred financing costs	(4,346)	(12,993)
Repayments of term loans	0	(50,000)
Repayment of notes payable to former parent	0	(269,112)
Net transfers to former parent	0	(1,814,682)
Dividends paid	(31,877)	(31,763)
Proceeds from issuance of Common Stock, net of shares withheld for taxes	(2,800)	(514)
Other	(885)	(10,868)
Cash provided (used) by financing activities	85,092	(1,139,932)
Effect of foreign currency rate changes on cash and cash equivalents	770	(1,340)
Net change in cash and cash equivalents	178,443	(55,972)
Cash, cash equivalents and restricted cash – beginning of year	106,808	96,776
Cash, cash equivalents and restricted cash – end of period	$ 285,251	$ 40,804

Consolidated and Combined Sta_3

Consolidated and Combined Statements of (Deficit) Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Former Parent Investment	Former Parent InvestmentCumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance, beginning (in shares) at Dec. 29, 2018			0
Balance, beginning at Dec. 29, 2018	$ 1,723,452	$ (2,713)	$ 0	$ 0	$ 1,868,634	$ (2,713)	$ 0	$ (145,182)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,413				15,413
Foreign currency translation	758							758
Net transfers to former parent	(157,928)				(157,928)
Balance, ending at Mar. 30, 2019	1,578,982		$ 0	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	$ (2,713)	$ 0	0	1,868,634	$ (2,713)	0	(145,182)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67,901
Net transfers to former parent								68,484
Balance, ending at Sep. 28, 2019	$ 55,571		$ 0	142,340	0		2,066	(88,835)
Balance, ending (in shares) at Sep. 28, 2019	56,726,746		56,727,000
Balance, beginning (in shares) at Mar. 30, 2019			0
Balance, beginning at Mar. 30, 2019	$ 1,578,982		$ 0	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	0			132,742	(132,742)
Issuance of Common Stock (in shares)			56,648,000
Issuance of Common Stock	0
Balance, ending at Jun. 29, 2019	82,168		$ 0	134,621	0		21,235	(73,688)
Balance, ending (in shares) at Jun. 29, 2019			56,648,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,502						14,502
Stock-based compensation, net (in shares)			79,000
Stock-based compensation, net	5,811			7,719			(1,908)
Foreign currency translation	(11,358)							(11,358)
Defined benefit pension plans	297							297
Derivative financial instruments	(4,086)							(4,086)
Dividends on Common Stock ($0.56 per share)	(31,763)						(31,763)
Balance, ending at Sep. 28, 2019	$ 55,571		$ 0	142,340	$ 0		2,066	(88,835)
Balance, ending (in shares) at Sep. 28, 2019	56,726,746		56,727,000
Balance, beginning (in shares) at Dec. 28, 2019	56,811,198		56,812,000
Balance, beginning at Dec. 28, 2019	$ 69,257		$ 0	150,673			(1,718)	(79,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(2,712)						(2,712)
Stock-based compensation, net (in shares)			119,000
Stock-based compensation, net	611			3,293			(2,682)
Foreign currency translation	(27,210)							(27,210)
Defined benefit pension plans	29							29
Derivative financial instruments	(26,583)							(26,583)
Dividends on Common Stock ($0.56 per share)	(31,877)						(31,877)
Balance, ending at Mar. 28, 2020	$ (18,485)		$ 0	153,966			(38,989)	(133,462)
Balance, ending (in shares) at Mar. 28, 2020			56,931,000
Balance, beginning (in shares) at Dec. 28, 2019	56,811,198		56,812,000
Balance, beginning at Dec. 28, 2019	$ 69,257		$ 0	150,673			(1,718)	(79,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24,811
Balance, ending at Sep. 26, 2020	$ 26,028		$ 0	161,297			(12,472)	(122,797)
Balance, ending (in shares) at Sep. 26, 2020	57,070,368		57,070,000
Balance, beginning (in shares) at Mar. 28, 2020			56,931,000
Balance, beginning at Mar. 28, 2020	$ (18,485)		$ 0	153,966			(38,989)	(133,462)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(33,262)						(33,262)
Stock-based compensation, net	4,694			4,694
Foreign currency translation	3,199							3,199
Defined benefit pension plans	(17)							(17)
Derivative financial instruments	(1,018)							(1,018)
Balance, ending at Jun. 27, 2020	(44,889)		$ 0	158,660			(72,251)	(131,298)
Balance, ending (in shares) at Jun. 27, 2020			56,931,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	60,785						60,785
Stock-based compensation, net (in shares)			139,000
Stock-based compensation, net	1,631			2,637			(1,006)
Foreign currency translation	7,072							7,072
Defined benefit pension plans	(67)							(67)
Derivative financial instruments	1,496							1,496
Balance, ending at Sep. 26, 2020	$ 26,028		$ 0	$ 161,297			$ (12,472)	$ (122,797)
Balance, ending (in shares) at Sep. 26, 2020	57,070,368		57,070,000

Combined Statements of Equity (

Combined Statements of Equity (Unaudited) Parenthetical - $ / shares	3 Months Ended
	Mar. 28, 2020	Sep. 28, 2019
Statement of Stockholders' Equity [Abstract]
Dividends (in USD per share)	$ 0.56	$ 0.56

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 26, 2020
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 lifestyle 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. 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 third quarter of the Company's fiscal year ending January 2, 2021 ("fiscal 2020"), which is a 53-week fiscal year. For presentation purposes herein, all references to periods ended September 2020, December 2019 and September 2019 correspond to the fiscal periods ended September 26, 2020, December 28, 2019 and September 28, 2019, respectively. Spin-Off Transaction On May 22, 2019, VF Corporation ("VF" or "former parent") completed the spin-off of its Jeanswear business (the "Separation"), which included the Wrangler ® , Lee ® and Rock & Republic ® brands, as well as the VF Outlet ™ business. Kontoor began to trade as a standalone public company (NYSE: KTB) on May 23, 2019. Accordingly, the Company’s financial statements through the Separation date of May 22, 2019 were combined financial statements prepared on a "carve-out" basis as discussed below, and the Company’s financial statements from May 23, 2019 were consolidated financial statements based on the reported results of Kontoor Brands, Inc. as a standalone company. The Company’s unaudited consolidated and combined financial statements for all periods presented are referred to throughout this document as “financial statements.” Impact of COVID-19 During 2020, the novel coronavirus (“COVID-19”) pandemic significantly impacted global economic conditions, as well as the Company's operations. Given the uncertainties of COVID-19 and the associated potential impact on future results of operations and liquidity, the Company implemented strategic actions to reduce expenses and enhance liquidity. These actions included draws on the Revolving Credit Facility (as defined in Note 6 to the Company's financial statements), temporary suspension of the payment of a dividend in the second and third quarters of 2020, targeted reductions in operating expenses and capital expenditures, temporary reduction of certain fees for the Board of Directors, reduction of payroll costs through restructuring, furloughs and temporary salary reductions, and focused management of working capital, including reduction in finished goods received from owned manufacturing and sourced vendors. Additionally, on May 5, 2020, the Company entered into an amendment to the Credit Agreement (as defined in Note 6 to the Company's financial statements) to provide relief for potential financial covenant compliance issues during future reporting periods. As of September 2020, the Company was in compliance with all applicable financial covenants and expects to maintain compliance with the applicable financial covenants for at least one year from the issuance of these financial statements. See Note 6 to the Company's financial statements for additional information. The Company considered the impact of COVID-19 on the assumptions and estimates used when preparing these quarterly financial statements including, but not limited to, our allowance for doubtful accounts, inventory valuations, liabilities for variable consideration, deferred tax valuation allowances, fair value measurements, asset impairment charges, the effectiveness of the Company’s hedging instruments, and expected compliance with all applicable financial covenants in our Credit Agreement. These assumptions and estimates may change as new events occur and additional information is obtained regarding the impact of COVID-19. Such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity. Basis of Presentation - Interim 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 U.S. ("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 a standalone company for all periods presented. Additionally, operating results for the three and nine months ended September 2020 are not necessarily indicative of results that may be expected for any other interim period or for fiscal 2020. The unaudited financial statements should be read in conjunction with the audited consolidated and combined financial statements for the fiscal year ended December 28, 2019 included in the Company's 2019 Annual Report on Form 10-K, as filed with the Securities and Exchange Commission ("SEC") on March 11, 2020 ("2019 Annual Report on Form 10-K"). Basis of Presentation - Carve Out Accounting Through the Separation date in 2019, the Company's combined financial statements were prepared on a carve-out basis under GAAP, which reflected the historical financial position, results of operations and cash flows of the Company as historically managed within VF. The unaudited combined financial statements were derived from the consolidated financial statements and accounting records of VF. The combined statements of operations included costs for certain centralized functions and programs provided and administered by VF that were charged directly to the Company. These centralized functions and programs included, but were not limited to, information technology, human resources, accounting shared services, supply chain, insurance and related benefits associated with those functions. In addition, for purposes of preparing these combined financial statements on a carve-out basis, a portion of VF's total corporate expenses were allocated to the Company. These expense allocations included 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 included the cost of operating VF's corporate headquarters located in Greensboro, North Carolina. Costs were 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 considered the basis on which the expenses were 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. All intracompany transactions were eliminated. All transactions between the Company and VF were included in the combined financial statements. For those transactions between the Company and VF that were historically settled in cash, the Company reflected such balances in the balance sheet within "due from former parent" or "due to former parent." All amounts due to and from former parent were settled in connection with the Separation. The aggregate net effect of transactions between the Company and VF that were not historically settled in cash were reflected in the balance sheet within "former parent investment" and in the statement of cash flows within "net transfers to former parent." Subsequent to the Separation, the Company continued to service commercial arrangements with VF, which included sales of VF-branded products at VF Outlet ™ stores, as well as sales to VF for products manufactured in our plants, use of our transportation fleet and fulfillment of a transition services agreement related to VF’s sale of its Nautica ® brand business in mid-2018. None of these arrangements with VF have continued in 2020. Income Taxes — Prior to the Separation, the Company's operations were included in VF’s U.S. federal consolidated and certain state income tax returns and certain foreign tax returns. For periods prior to the Separation, the income tax expense and deferred tax balances presented in the financial statements were calculated on a carve-out basis, which applied 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 jurisdictions. Reclassifications Certain prior year amounts in the Company's financial statements and related disclosures have been reclassified to conform with the current year presentation. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” and has since issued additional updates to provide further clarification. This guidance requires use of the current expected credit loss ("CECL") model, thus replacing the incurred credit loss model. The CECL model requires an entity to recognize an allowance for credit losses at each reporting period that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. The Company determined this guidance primarily applied to trade accounts receivable from customers and licensees, and adopted it on the first day of fiscal 2020 using the modified retrospective approach. There was no cumulative-effect adjustment to (accumulated deficit) retained earnings required upon adoption. See Note 4 to the Company's financial statements for additional disclosures on credit losses. 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," which modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This guidance was adopted by the Company during the first quarter of 2020 using a prospective approach and did not have a significant impact on the Company's financial statement disclosures. 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," which modifies the disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. This guidance was adopted by the Company during the first quarter of 2020 using a prospective approach and did not have a significant impact on the Company's financial statement disclosures. 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," which 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 was adopted by the Company during the first quarter of 2020 using a prospective approach and did not have a significant impact on the Company's financial statements as the new guidance is generally consistent with the Company's historical accounting policies. In April 2020, the FASB provided interpretive guidance that simplifies accounting for rent concessions, including rent deferrals, that are a direct consequence of COVID-19. In response to temporary store closures related to COVID-19, the Company continues to engage in discussions with landlords regarding potential rent deferrals and other rent concessions. The Company has elected to not evaluate whether a COVID-19 related rent concession constitutes a lease modification and will continue to account for rent deferrals or other rent concessions as lease modifications in accordance with existing Accounting Standards Codification ("ASC") 842 guidance. Lease modifications resulting from COVID-19 did not have a significant impact on the Company's financial statements for the three and nine months ended September 2020. Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which amends and simplifies the accounting for income taxes by removing certain exceptions in existing guidance and providing new guidance to reduce complexity in certain areas. This guidance is effective for the Company beginning in the first quarter of 2021 with early adoption permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its financial statements and related disclosures, which is not expected to be significant. In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting ,” which is intended to provide temporary optional expedients and exceptions for applying GAAP to contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective upon issuance and can be applied anytime from the issuance date through December 31, 2022. The impact of this guidance on the Company's financial statements and related disclosures will continue to be evaluated by the Company through the application period, and is not expected to be significant.

REVENUES

REVENUES	9 Months Ended
	Sep. 26, 2020
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. 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 that do not require disclosure of 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 September 2020, 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 nine months ended September 2020, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not significant. Contract Balances Accounts receivable represent the Company's unconditional right to receive consideration from a customer and are recorded at net invoiced amounts, less estimated allowances. The Company's primary contract assets relate to sales-based royalty arrangements and the Company's primary contract liabilities relate to gift cards, loyalty programs and sales-based royalty arrangements. The following table presents information about contract balances recorded in the Company's balance sheets: (In thousands) September 2020 December 2019 September 2019 Accounts receivable, net $ 221,971 $ 228,459 $ 302,582 Contract assets (a) 4,385 10,679 3,429 Contract liabilities (b) 1,229 1,775 2,514 (a) Included within "prepaid expenses and other current assets" in the Company's balance sheets. (b) Included within "accrued liabilities" in the Company's balance sheets. For the three and nine months ended September 2020, the Company recognized revenue of $0.2 million and $1.4 million, respectively, that was included in contract liabilities as of December 2019. For the three and nine months ended September 2019, the Company recognized revenue of $0.2 million and $1.7 million, respectively, that was included in contract liabilities as of December 2018. The changes in the contract asset and contract liability balances primarily result from timing differences between the Company's satisfaction of performance obligations and the customer's payment. Most of the Company's licensing agreements include minimum guarantees for sales-based royalties. As of September 2020, the Company has contractual rights under its licensing agreements to receive $19.3 million of fixed consideration related to the future minimum guarantees through December 2024. The variable consideration is not disclosed as a remaining performance obligation as the licensing arrangements qualify for the sales-based royalty exemption. Disaggregation of Revenue The following tables present revenues disaggregated 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-operated outlet stores globally. The Branded Direct-to-Consumer channel also includes sales of our branded products in U.S.-based VF Outlet ™ stores and digital sales via www.wrangler.com and www.lee.com. The Other channel primarily includes sales of third-party branded merchandise at VF Outlet™ stores. Sales of Wrangler ® and Lee ® branded products at VF Outlet™ stores are not included in Other and are reported in the Branded Direct-to-Consumer channel discussed above. Prior to 2020, the Other channel also included transactions with VF for pre-Separation activities, none of which continued in 2020. These transactions included sales of VF-branded products at VF Outlet ™ stores, as well as sales to VF for products manufactured in our plants, use of our transportation fleet and fulfillment of a transition services agreement related to VF’s sale of its Nautica ® brand business in mid-2018. Three Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 285,639 $ 105,757 $ 2,259 $ 393,655 Non-U.S. Wholesale 35,724 70,555 1,124 107,403 Branded Direct-to-Consumer 25,266 38,128 8 63,402 Other — — 18,762 18,762 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Geographic revenues U.S. $ 307,512 $ 126,912 $ 21,029 $ 455,453 International 39,117 87,528 1,124 127,769 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Three Months Ended September 2019 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 283,616 $ 93,931 $ 5,970 $ 383,517 Non-U.S. Wholesale 60,523 99,386 340 160,249 Branded Direct-to-Consumer 23,067 38,904 9 61,980 Other — — 32,392 32,392 Total $ 367,206 $ 232,221 $ 38,711 $ 638,138 Geographic revenues U.S. $ 302,819 $ 115,700 $ 38,263 $ 456,782 International 64,387 116,521 448 181,356 Total $ 367,206 $ 232,221 $ 38,711 $ 638,138 Nine Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 739,104 $ 231,529 $ 8,823 $ 979,456 Non-U.S. Wholesale 99,912 157,413 1,428 258,753 Branded Direct-to-Consumer 62,654 94,220 11 156,885 Other — — 41,880 41,880 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974 Geographic revenues U.S. $ 792,662 $ 278,999 $ 50,714 $ 1,122,375 International 109,008 204,163 1,428 314,599 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974 Nine Months Ended September 2019 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 859,481 $ 303,547 $ 17,405 $ 1,180,433 Non-U.S. Wholesale 169,747 257,127 973 427,847 Branded Direct-to-Consumer 71,905 119,986 23 191,914 Other — — 96,034 96,034 Total $ 1,101,133 $ 680,660 $ 114,435 $ 1,896,228 Geographic revenues U.S. $ 914,519 $ 365,615 $ 113,143 $ 1,393,277 International 186,614 315,045 1,292 502,951 Total $ 1,101,133 $ 680,660 $ 114,435 $ 1,896,228

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Sep. 26, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company has two reportable segments: • Wrangler — Wrangler ® branded denim, apparel and accessories. • Lee — Lee ® branded denim, apparel and accessories. The chief operating decision maker allocates resources and assesses performance based on a global brand view which determines the Company's operating segments. Operating segments are the basis for the Company's reportable segments. In addition, we report an "Other" category in order to reconcile segment revenues and segment profit to the Company's operating results, but the Other category is not considered a reportable segment based on evaluation of aggregation criteria. Other includes sales of third-party branded merchandise at VF Outlet ™ stores, sales and licensing of Rock & Republic ® branded apparel, and sales of products manufactured for third parties. Sales of Wrangler ® and Lee ® branded products at VF Outlet ™ stores are not included in Other and are reported in the respective segments discussed above. Prior to 2020, the Other category also included transactions with VF for pre-Separation activities, none of which continued in 2020. These transactions included sales of VF-branded products at VF Outlet ™ stores, as well as sales to VF for products manufactured in our plants, use of our transportation fleet and fulfillment of a transition services agreement related to 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 to the Company's financial statements included in the Company's 2019 Annual Report on Form 10-K, except as noted below. After the Separation, as a standalone public company, the Company has allocated costs for certain centralized functions and programs to the Lee ® and Wrangler ® segments based on appropriate metrics such as usage or production of net revenues. These centralized functions and programs include, but are not limited to, information technology, human resources, supply chain, insurance and related benefit costs associated with those functions. Through the Separation date, the Company's statement of operations included costs for certain centralized functions and programs provided and administered by VF that were charged directly to VF's businesses, including the Company. These centralized functions and programs included, but were not limited to, information technology, human resources, accounting shared services, supply chain, insurance and related benefits associated with those functions. These historical allocations were included in the measurement of segment profit below. In addition, for purposes of preparing these financial statements on a carve-out basis, a portion of VF's total corporate expenses were allocated to the Company. These expense allocations included 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 included the cost of operating VF's corporate headquarters located in Greensboro, North Carolina. These additional allocations were reported as "corporate and other expenses" in the table below. Corporate and other expenses, impairment charges, and interest income and expense are not controlled by segment management and therefore are excluded from the measurement of segment profit. The following table presents financial information for the Company's reportable segments and income before income taxes: Three Months Ended September Nine Months Ended September (In thousands) 2020 2019 2020 2019 Segment revenues: Wrangler $ 346,629 $ 367,206 $ 901,670 $ 1,101,133 Lee 214,440 232,221 483,162 680,660 Total reportable segment revenues 561,069 599,427 1,384,832 1,781,793 Other revenues 22,153 38,711 52,142 114,435 Total net revenues $ 583,222 $ 638,138 $ 1,436,974 $ 1,896,228 Segment profit: Wrangler $ 76,908 $ 61,070 $ 139,709 $ 141,715 Lee 40,968 30,156 23,524 61,536 Total reportable segment profit $ 117,876 $ 91,226 $ 163,233 $ 203,251 Non-cash impairment of intangible asset (1) — (32,636) — (32,636) Corporate and other expenses (31,347) (29,861) (90,917) (64,232) Interest income from former parent, net — — — 3,762 Interest expense (13,249) (14,140) (37,308) (21,876) Interest income 283 712 1,255 3,543 (Loss) profit related to other revenues (4,416) 843 (13,121) (437) Income before income taxes $ 69,147 $ 16,144 $ 23,142 $ 91,375 (1) Represents an impairment charge recorded during the third quarter of 2019 related to the Rock & Republic ® trademark. See Note 7 to the Company's financial statements.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	9 Months Ended
	Sep. 26, 2020
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Allowance for Doubtful Accounts The Company is exposed to credit losses primarily through trade accounts receivable from customers and licensees which are generally short-term in nature. The Company maintains an allowance for doubtful accounts that will result from the inability of customers to make required payments of outstanding balances. In estimating this allowance, accounts receivable are evaluated on a pooled basis at each reporting date and aggregated on the basis of similar risk characteristics, including current and forecasted industry trends and economic conditions, aging status of accounts, and the financial strength and credit standing of customers, including payment and default history. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. Receivables are written off against the allowance when all collection efforts have been exhausted and the likelihood of collection is remote. The Company reviews the estimates used to calculate the allowance for doubtful accounts on a quarterly basis. At September 2020, the Company updated its evaluation of expected losses and related assumptions used in the allowance for doubtful accounts, including the impact of COVID-19. The Company also wrote off accounts receivable against the allowance, primarily due to the bankruptcy of a major U.S. retail customer during the three months ended June 2020. The following table presents a rollforward of the allowance for doubtful accounts: (In thousands) Nine Months Ended September 2020 Balance, December 2019 $ 11,852 Provision for expected credit losses 19,642 Accounts receivable balances written off (8,801) Other (1) 65 Balance, September 2020 $ 22,758 (1) Other primarily includes the impact of foreign currency translation and recoveries of amounts previously written off, none of which were individually significant. Sale of Trade 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, net" in its balance sheet at the time of sale. The Company does not retain any interests in the sold trade accounts receivable but continues to service and collect outstanding trade accounts receivable on behalf of the financial institution. 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 trade accounts receivable but continued to service and collect outstanding trade 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 sheet within "due from former parent." As discussed in Note 15 to the Company's financial statements, all amounts were settled at the Separation date. During the nine months ended September 2020 and September 2019, the Company sold total trade accounts receivable of $700.9 million and $758.0 million, respectively. As of September 2020, December 2019 and September 2019, $195.0 million, $188.1 million and $172.1 million, respectively, of the sold trade accounts receivable had been removed from the Company's balance sheets but remained outstanding with the financial institution.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 26, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The following table presents components of inventories recorded in the Company's balance sheets: (In thousands) September 2020 December 2019 September 2019 Finished products $ 368,976 $ 383,643 $ 480,492 Work-in-process 26,541 34,783 26,493 Raw materials 36,763 39,675 38,441 Total inventories $ 432,280 $ 458,101 $ 545,426

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9 Months Ended
	Sep. 26, 2020
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 "Credit Agreement") under which it incurred $1.05 billion of indebtedness, the proceeds of which were used primarily to finance a cash transfer to VF in connection with the Separation. At inception, this facility consisted of a five seven five The Credit Agreement contained certain affirmative and negative covenants customary for financings of this type, including maintenance of ratios as defined in the Credit Agreement for consolidated earnings before interest, taxes, depreciation and amortization ("EBITDA") to consolidated debt (the "Total Leverage Ratio") of 4.00 to 1.00 and EBITDA to consolidated interest expense (the "Consolidated Interest Coverage Ratio") of 3.00 to 1.00, both as measured over the most recent four consecutive fiscal quarters. On May 5, 2020, given the uncertainties of COVID-19 and the associated impact on future results of operations, the Company entered into an amendment to the Credit Agreement (the “Amendment”) to address potential financial covenant compliance issues during future reporting periods. The Amendment established a temporary relief period for the Company (the "Relief Period") for certain provisions regarding financial covenants including (i) increase of the maximum Total Leverage Ratio, (ii) addition of a minimum liquidity floor of $200.0 million, (iii) addition of a $250.0 million limit on available cash at the time of and immediately after new borrowings, and (iv) imposition of stricter limitations on investments, acquisitions, restricted payments (including dividends) and the incurrence of indebtedness. The Relief Period is effective until the earlier of (i) the date on which a compliance certificate is delivered for the Company's quarter ended June 2021 or (ii) the date on which a compliance certificate is delivered in respect of the most recent f iscal quarter demonstrating that the Company is in full compliance with all financial covenants that were in effect prior to the Amendment and upon the Company's written notification to the administrative agent that the Relief Period should end on such date. For quarterly measurement periods during the Relief Period, the Company is required to maintain a Total Leverage Ratio not to exceed 5.50 to 1.00, 5.50 to 1.00, 5.00 to 1.00 and 4.50 to 1.00 for the periods ended June 2020, September 2020, December 2020 and March 2021, respectively. As of September 2020, the Company was in compliance with all applicable financial covenants and expects to maintain compliance with the applicable financial covenants for at least one year from the issuance of these financial statements. If economic conditions caused by COVID-19 significantly deteriorate for a prolonged period and the Company's operating results and cash flows do not continue to recover as currently estimated by management, this could impact the Company’s ability to maintain compliance with the applicable financial covenants and require the Company to seek additional amendments to the Credit Agreement. If the Company were not able to enter into such amendments, this would lead to an event of default which, if not cured timely, could require the Company to repay its outstanding debt. In that situation, the Company may not be able to generate sufficient liquidity, through new or refinanced debt, equity financing or asset sales, to repay its outstanding debt. Short-term Borrowings At September 2020 , December 2019 and September 2019, the Company had $39.1 million, $47.8 million and $47.5 million, respectively, 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 $0.1 million, $1.1 million and $6.0 million at September 2020, December 2019 and September 2019, respectively, and primarily consist of letters of credit that are non-interest bearing to the Company. Long-term Debt The following table presents the components of long-term debt as recorded in the Company's balance sheet: (In thousands) September 2020 December 2019 September 2019 Revolving Credit Facility $ 125,000 $ — $ — Term Loan A 693,817 695,111 694,833 Term Loan B 218,518 218,158 293,274 Total long-term debt 1,037,335 913,269 988,107 Less: current portion (15,625) — (7,500) Long-term debt, due beyond one year $ 1,021,710 $ 913,269 $ 980,607 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 Company had $475.0 million of outstanding borrowings under the Revolving Credit Facility as of March 2020, primarily resulting from drawdowns taken as a precautionary measure to provide increased financial flexibility, strengthen the Company’s near-term cash position and provide additional funding for working capital in response to COVID-19. The Company repaid $175.0 million in conjunction with the closing of the Amendment in May 2020 to comply with the available cash limitation. The Company made additional discretionary repayments totaling $75.0 million in June 2020 and $100.0 million during the three months ended September 2020. As of September 2020, the Company had $125.0 million of outstanding borrowings under the Revolving Credit Facility and $6.8 million of outstanding standby letters of credit issued on behalf of the Company, leaving $368.2 million available for borrowing against this facility. The interest rate per annum applicable to the Revolving Credit Facility and Term Loan A is either a base rate plus a margin or the applicable LIBOR rate plus a margin, at the Company's election. Outside of the Relief Period, the applicable margins and facility fee are subject to adjustments based on the Company's credit ratings and Total Leverage Ratio. The applicable margin varies from 37.5 to 125 basis points for base rate loans and from 137.5 to 225 basis points for LIBOR loans. The Company is also required to pay a facility fee to the lenders, varying from 20 to 40 basis points of the undrawn amount of the facility. During the Relief Period, the interest rate is either a base rate plus a margin of 225 basis points or the applicable LIBOR rate plus a margin of 325 basis points, at the Company’s election, and the facility fee is equal to 50 basis points of the undrawn amount of the Revolving Credit Facility. Additionally, the interest rate per annum applicable to Term Loan B is either a base rate plus a margin of 325 basis points or the applicable LIBOR rate plus a margin of 425 basis points, at the Company's election. The LIBOR rate for all loans under the Credit Facility is subject to a "floor" of 0%. Interest payments on all loans under the Credit Facility are due at least quarterly, and could be due more frequently based on the Company's interest rate elections. Term Loan A had an outstanding principal amount of $700.0 million at September 2020, December 2019 and September 2019, which is recorded net of unamortized deferred financing costs. As of September 2020, interest expense on Term Loan A was being recorded at an effective annual interest rate of 4.4%, including the amortization of deferred financing costs and the impact of the Company’s interest rate swap agreements. Term Loan B had an outstanding principal amount of $223.0 million at September 2020 and December 2019, and $300.0 million at September 2019, which is recorded net of unamortized original issue discount and deferred financing costs. As of September 2020,

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 26, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Certain assets and liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. 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. Recurring Fair Value Measurements The following tables present 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 September 2020 Financial assets: Cash equivalents: Money market funds $ 197,682 $ 197,682 $ — $ — Time deposits 2,688 2,688 — — Foreign currency exchange contracts 2,768 — 2,768 — Investment securities 54,841 54,841 — — Financial liabilities: Foreign currency exchange contracts 7,245 — 7,245 — Interest rate swap agreements 18,094 — 18,094 — Deferred compensation 55,261 — 55,261 — Fair Value Measurement Using (In thousands) Total Fair Value Level 1 Level 2 Level 3 December 2019 Financial assets: Cash equivalents: Money market funds $ 25,706 $ 25,706 $ — $ — Time deposits 4,788 4,788 — — Foreign currency exchange contracts 5,563 — 5,563 — Investment securities 59,922 56,437 3,485 — Financial liabilities: Foreign currency exchange contracts 2,795 — 2,795 — Interest rate swap agreements 3,089 — 3,089 — Deferred compensation 60,129 — 60,129 — 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 currency exchange contracts and interest rate swap agreements, is determined based on observable market inputs (Level 2), including spot and forward exchange rates for foreign currencies and observable interest rate yield curves for interest rate swap agreements. Investment securities are held in the Company's deferred compensation plans as an economic hedge of the related deferred compensation liabilities. As of September 2020, these investments are comprised of mutual funds that are valued based on quoted prices in active markets (Level 1). During the three months ended June 2020, all Level 2 investments held in the Company's deferred compensation plans were removed and replaced with mutual fund investment options. 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 (Level 2). Additionally, at September 2020, the carrying value of the Company's long-term debt, including the current portion, was $1,037.3 million compared to a fair value of $1,034.2 million. At December 2019, the carrying value of the Company's long-term debt was $913.3 million compared to a fair value of $906.1 million. The fair value of long-term debt, including the current portion, 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, short-term borrowings, accounts payable, and accrued liabilities. At September 2020 and December 2019, their carrying values approximated fair value due to the short-term nature of these instruments. Nonrecurring Fair Value Measurements Certain non-financial assets, primarily property, plant and equipment, computer software, operating lease assets and goodwill and intangible assets, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, these assets are required to be assessed for impairment when events or circumstances indicate that the carrying value may not be recoverable, and at least annually for goodwill and indefinite-lived intangible assets. Management performs its annual impairment testing of goodwill for all reporting units and all indefinite-lived intangible assets as of the beginning of the fourth quarter of each fiscal year. In the event that an impairment is required, the asset is adjusted to fair value, using market-based assumptions. As a result of temporary and expected permanent retail store closures, the Company assessed the related retail store assets for impairment during the first and second quarter of 2020 and recorded impairment charges of $1.8 million during the six months ended June 2020. During the three months ended September 2019, the Company determined that the exclusive domestic wholesale distribution and licensing agreement of the Rock & Republic ® brand would not be extended. This was considered a triggering event that required management to perform a quantitative impairment analysis of the Rock & Republic ® finite-lived trademark intangible asset. Based on this analysis, the Company recorded a $32.6 million non-cash impairment charge which was reflected within "non-cash impairment of intangible asset" in the Company's statement of operations during the three months ended September 2019.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 26, 2020
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. The notional amount of all outstanding foreign currency exchange contracts was $258.6 million at September 2020, $341.6 million at December 2019 and $320.5 million at September 2019, consisting primarily of contracts hedging exposures to the euro, Mexican peso, Canadian dollar, British pound, Polish zloty and Swedish krona. Foreign currency exchange contracts have maturities up to 20 months. On July 24, 2019, the Company entered into "floating to fixed" derivative agreements to mitigate exposure to volatility in LIBOR rates on the Company's future interest payments. The notional amount of the interest rate swap agreements was $400.0 million at September 2020 and $475.0 million at both December 2019 and September 2019. Because these interest rate swap agreements meet the criteria for hedge accounting, all related gains and losses are deferred within accumulated other comprehensive loss ("AOCL") and are being amortized through April 18, 2024. The Company's outstanding derivative financial instruments met the criteria for hedge accounting at the inception of the hedging relationship, although a limited number of foreign currency exchange contracts intended to hedge assets and liabilities are not designated as hedges for accounting purposes. At each reporting period, the Company assesses whether the hedging relationships continue to be highly effective in offsetting changes in cash flows of hedged items. If it was determined that the hedging relationship ceased to be highly effective, the Company would discontinue hedge accounting. All designated hedging relationships were determined to be highly effective as of September 2020. The following table presents the fair value of outstanding derivatives on an individual contract basis: Fair Value of Derivatives Fair Value of Derivatives (In thousands) September 2020 December 2019 September 2019 September 2020 December 2019 September 2019 Derivatives designated as hedging instruments: Foreign currency exchange contracts $ 2,310 $ 5,199 $ 3,463 $ (7,096) $ (2,690) $ (2,603) Interest rate swap agreements — — — (18,094) (3,089) (4,861) Derivatives not designated as hedging instruments: Foreign currency exchange contracts 458 364 41 (149) (105) (110) Total derivatives $ 2,768 $ 5,563 $ 3,504 $ (25,339) $ (5,884) $ (7,574) The Company records and presents the fair value of all derivative assets and liabilities in the Company's balance sheets on a gross basis, even though certain of the derivative contracts are subject to master netting agreements. If the Company were to offset and record the asset and liability balances of its derivative 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. The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances: September 2020 December 2019 September 2019 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Gross amounts presented in the balance sheet $ 2,768 $ (25,339) $ 5,563 $ (5,884) $ 3,504 $ (7,574) Gross amounts not offset in the balance sheet (2,110) 2,110 (1,133) 1,133 (507) 507 Net amounts $ 658 $ (23,229) $ 4,430 $ (4,751) $ 2,997 $ (7,067) The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates: (In thousands) September 2020 December 2019 September 2019 Prepaid expenses and other current assets $ 2,006 $ 4,303 $ 2,900 Accrued liabilities (6,594) (2,058) (2,376) Other assets 762 1,260 604 Other liabilities (18,745) (3,826) (5,198) Cash Flow Hedges The following tables present the effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income (loss): Gain (Loss) on Derivatives Recognized in AOCL (In thousands) Three Months Ended Nine Months Ended Cash Flow Hedging Relationships September 2020 September 2019 September 2020 September 2019 Foreign currency exchange contracts $ (313) $ 3,926 $ (10,407) $ 1,868 Interest rate swap agreements (897) (4,220) (18,220) (4,220) Total $ (1,210) $ (294) $ (28,627) $ (2,352) Gain (Loss) Reclassified from AOCL into Income (In thousands) Three Months Ended Nine Months Ended Location of Gain (Loss) September 2020 September 2019 September 2020 September 2019 Net revenues $ (36) $ (379) $ (588) $ (475) Cost of goods sold (578) 3,486 4,778 3,901 Other expense, net 36 328 173 371 Interest expense (1,636) 642 (3,216) 642 Total $ (2,214) $ 4,077 $ 1,147 $ 4,439 During the three months ended March 2020, the Company determined that, due to a reduction in forecasted sales, it was probable that forecasted transactions of certain foreign currency cash flow hedges would no longer occur as originally expected. Accordingly, $0.4 million of gains related to the ineffective portion of these contracts were reclassified from AOCL into earnings during the three months ended March 2020 and the nine months ended September 2020. Derivative Contracts Not Designated as Hedges The Company uses derivative contracts to manage foreign currency exchange risk on certain accounts receivable and 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. The following table presents a summary of these derivatives included in the Company's statements of operations: (In thousands) Location of Gain (Loss) on Derivatives Recognized in Income Gain (Loss) on Derivatives Recognized in Income Three Months Ended Nine Months Ended Derivatives Not Designated as Hedges September 2020 September 2019 September 2020 September 2019 Foreign currency exchange contracts Net revenues $ 37 $ — $ 43 $ — Cost of goods sold 563 72 (2,559) 15 Other expense, net (18) — (8) — Total $ 582 $ 72 $ (2,524) $ 15 Other Derivative Information At September 2020, AOCL included $10.7 million of pre-tax net deferred losses for foreign currency exchange contracts and interest rate swap agreements that are expected to be reclassified to earnings during the next 12 fiscal months. The amounts ultimately reclassified to earnings will depend on rates in effect when outstanding derivative contracts are settled.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 26, 2020
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The Company's comprehensive (loss) income consists of net income and specified components of other comprehensive (loss) income (“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 (loss) income is presented in the Company's statements of comprehensive income (loss). The following table presents deferred components of AOCL in equity, net of related taxes: (In thousands) September 2020 December 2019 September 2019 Foreign currency translation $ (101,057) $ (84,118) $ (93,199) Defined benefit pension plans (2,356) (2,301) (775) Derivative financial instruments (19,384) 6,721 5,139 Accumulated other comprehensive loss $ (122,797) $ (79,698) $ (88,835) The following tables present changes in AOCL, net of related tax impact: Three Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2020 $ (108,129) $ (2,289) $ (20,880) $ (131,298) Other comprehensive income (loss) before reclassifications 7,072 (77) (469) 6,526 Amounts reclassified from accumulated other comprehensive income (loss) — 10 1,965 1,975 Net other comprehensive income (loss) 7,072 (67) 1,496 8,501 Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) Three Months Ended September 2019 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2019 $ (81,841) $ (1,072) $ 9,225 $ (73,688) Other comprehensive income (loss) before reclassifications (11,358) 297 (468) (11,529) Amounts reclassified from accumulated other comprehensive income (loss) — — (3,618) (3,618) Net other comprehensive income (loss) (11,358) 297 (4,086) (15,147) Balance, September 2019 $ (93,199) $ (775) $ 5,139 $ (88,835) Nine Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, December 2019 $ (84,118) $ (2,301) $ 6,721 $ (79,698) Other comprehensive income (loss) before reclassifications (16,939) (85) (24,944) (41,968) Amounts reclassified from accumulated other comprehensive income (loss) — 30 (1,161) (1,131) Net other comprehensive income (loss) (16,939) (55) (26,105) (43,099) Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) Nine Months Ended September 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 (5,914) 283 (2,526) (8,157) Amounts reclassified from accumulated other comprehensive income (loss) — — (3,980) (3,980) Net other comprehensive income (loss) (5,914) 283 (6,506) (12,137) Amounts transferred from former parent 57,897 (1,058) 11,645 68,484 Balance, September 2019 $ (93,199) $ (775) $ 5,139 $ (88,835) The following table presents reclassifications out of AOCL: (In thousands) Three Months Ended September Nine Months Ended September Details About Accumulated Other Comprehensive Loss Reclassifications Affected Line Item in the Financial Statements 2020 2019 2020 2019 Defined benefit pension plans: Net change in deferred actuarial losses Selling, general and administrative expenses $ (14) $ — $ (42) $ — Total before tax (14) — (42) — Tax benefit Income taxes 4 — 12 — Net of tax (10) — (30) — Gains (losses) on derivative financial instruments: Foreign currency exchange contracts Net revenues $ (36) $ (379) $ (588) $ (475) Foreign currency exchange contracts Cost of goods sold (578) 3,486 4,778 3,901 Foreign currency exchange contracts Other expense, net 36 328 173 371 Interest rate swap agreements Interest expense (1,636) 642 (3,216) 642 Total before tax (2,214) 4,077 1,147 4,439 Income taxes Income taxes (249) 459 (14) 459 Net of tax (1,965) 3,618 1,161 3,980 Total reclassifications for the period, net of tax $ (1,975) $ 3,618 $ 1,131 $ 3,980

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 26, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rate for the nine months ended September 2020 was (7.2)% compared to 25.7% in the 2019 period. The nine months ended September 2020 included a net discrete tax benefit of $6.8 million, primarily comprised of $6.3 million of tax benefit recognized due to the enactment of Swiss tax reform in the canton of Ticino and $0.7 million of tax benefit related to the finalization of U.S. federal, state and foreign tax return filings. The $6.8 million net discrete tax benefit in the nine months ended September 2020 decreased the effective income tax rate by 29.2%. During the three months ended September 2019, the Company recorded a $32.6 million non-cash impairment charge related to the Rock & Republic ® trademark intangible asset which resulted in a tax benefit of $7.4 million. The effective tax rate for the nine months ended September 2019 included a net discrete tax expense of $1.1 million, primarily comprised of $4.5 million of net tax expense related to unrecognized tax benefits and interest and $3.4 million of tax benefit related to stock compensation. The $1.1 million net discrete tax expense in the nine months ended September 2019 increased the effective income tax rate by 1.2%. The effective income tax rate without discrete items for the nine months ended September 2020 was 22.0% compared to 24.5% in the 2019 period. The reduction was primarily due to a higher percentage of income in lower tax rate jurisdictions and a reduction in losses incurred for which no related tax benefit was recognized. The Company files a consolidated U.S. federal income tax return, as well as separate and combined income tax returns in numerous state and international jurisdictions. As of September 2020, the Company had not filed its initial consolidated U.S. federal income tax return and thus had no tax years subject to IRS examinations. However, the Company is currently subject to examination by various U.S. state and international tax authorities. 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. The outcome of any one examination is not expected to have a material impact on the Company’s financial statements. During the nine months ended September 2020, the amount of net unrecognized tax benefits and associated interest increased by $0.5 million to $14.8 million. Management also believes that it is reasonably possible that the amount of unrecognized tax benefits may decrease by $0.9 million within the next 12 fiscal months due to settlement of audits and expiration of statutes of limitations, $0.7 million of which would reduce income tax expense.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 26, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The calculations 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 was utilized for the calculations of basic and diluted earnings per share for all periods presented through the Separation date. After the Separation date, actual outstanding shares were used in the calculations of both basic and diluted weighted average number of common shares outstanding. The following table presents the calculations of basic and diluted EPS: Three Months Ended September Nine Months Ended September (In thousands, except per share amounts) 2020 2019 2020 2019 Net income $ 60,785 $ 14,502 $ 24,811 $ 67,901 Basic weighted average shares outstanding 57,007 56,694 56,938 56,663 Dilutive effect of stock-based awards 635 707 731 326 Diluted weighted average shares outstanding 57,642 57,401 57,669 56,989 Earnings per share: Basic earnings per common share $ 1.07 $ 0.26 $ 0.44 $ 1.20 Diluted earnings per common share $ 1.05 $ 0.25 $ 0.43 $ 1.19 A total of 1.6 million and 1.1 million shares related to stock-based awards were excluded from the diluted earnings per share calculations for the three and nine months ended September 2020, respectively, because the effect of their inclusion would have been anti-dilutive. A total of 0.3 million and 0.2 million shares related to stock-based awards were excluded from the diluted earnings per share calculations for the three and nine months ended September 2019, respectively, because the effect of their inclusion would have been anti-dilutive. For both the three and nine months ended September 2020, a total of 0.4 million shares of performance-based restricted stock units ("PRSUs") were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares. For both the three and nine months ended September 2019, a total of 0.5 million shares of PRSUs were excluded from the calculations of dilutive earnings per share as the units were not considered to be contingent outstanding shares.

LEASES

LEASES	9 Months Ended
	Sep. 26, 2020
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. Most leases have fixed rentals, with many of the real estate leases requiring additional payments for real estate taxes and occupancy-related costs. The following table presents supplemental cash flow and non-cash information related to leases: (In thousands) Nine Months Ended September 2020 Nine Months Ended September 2019 Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 32,016 $ 34,486 Right-of-use assets obtained in exchange for new operating leases - non-cash activity $ 769 $ 38,939

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 26, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company generally incurs restructuring charges related to cost optimization of business activities, which primarily included severance and impairment charges related to COVID-19 and our VF Outlet TM business during the three and nine months ended September 2020. Of the $2.3 million and $13.9 million of restructuring charges recognized during the three and nine months ended September 2020, respectively, $1.9 million and $13.0 million were reflected within "selling, general and administrative expenses" and $0.4 million and $0.9 million were reflected within "cost of goods sold," respectively. Of the $24.6 million of restructuring charges recognized during the nine months ended September 2019, $13.8 million were reflected within "selling, general and administrative expenses" and $10.8 million were reflected within "cost of goods sold." Of the $7.2 million total restructuring accrual reported in the Company's balance sheet at September 2020, $7.0 million is expected to be paid out within the next 12 fiscal months and is classified within "accrued liabilities." The remaining $0.2 million is classified within "other liabilities." All of the $2.2 million total restructuring accrual reported in the Company's balance sheet at December 2019 was classified within "accrued liabilities." The following table presents the components of restructuring charges: Three Months Ended Nine Months Ended (In thousands) September 2020 September 2019 September 2020 September 2019 Severance and employee-related benefits $ 2,314 $ — $ 12,324 $ 14,903 Asset impairments — — 1,579 1,596 Inventory write-downs — — — 4,403 Other — — — 3,660 Total restructuring charges $ 2,314 $ — $ 13,903 $ 24,562 The following table presents the restructuring costs by business segment: Three Months Ended Nine Months Ended (In thousands) September 2020 September 2019 September 2020 September 2019 Wrangler $ — $ — $ 3,656 $ 17,613 Lee — — 3,131 6,685 Corporate and other 2,314 — 7,116 264 Total $ 2,314 $ — $ 13,903 $ 24,562 The following table presents activity in the restructuring accrual for the nine-month period ended September 2020: (In thousands) Total Accrual at December 2019 $ 2,172 Charges 12,324 Cash payments (6,550) Adjustments to accruals (740) Accrual at September 2020 $ 7,206

TRANSACTIONS WITH FORMER PARENT

TRANSACTIONS WITH FORMER PARENT	9 Months Ended
	Sep. 26, 2020
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. Refer to Note 1 to the Company's financial statements for a discussion of the methodology used to allocate corporate-related costs for purposes of preparing these financial statements on a carve-out basis. The following discussion summarizes activity between the Company and VF through the Separation date. Sales and Purchases To and From Former Parent During the nine months ended September 2019, the Compa ny's sales to VF through the Separation date were $14.1 million, which were included within "net revenues" in the Company's statements of operations. During the nine months ended September 2019, the Company's purchases from VF through the Separation date were $0.5 million, which were included within "cost of goods sold" in the Company's statements of operations . At September 2020 , December 2019 and September 2019, the aggregate amount of inventories purchased from VF that remained on the Company's balance sheets was approximately $0.2 million , $0.4 million and $0.5 million, respectively. Notes To and From Former Parent All notes to and from former parent were settled in connection with the Separation and there were no remaining balances as of September 2020, December 2019 or September 2019. During the nine months ended September 2019, the Company recorded net interest income through the Separation date related to these notes of $3.8 million, which was included within "interest income from former parent, net" in the Company's statements of operations. Due To and From Former Parent All amounts due to and from former parent were settled in connection with the Separation and there were no remaining balances as of September 2020, December 2019 or September 2019. Net Transfers To and From VF Net transfers to and from VF are included within "former parent investment" in the statements of equity. The following table presents components of the transfers to and from VF : (In thousands) Nine Months Ended September 2019 (a) General financing activities $ (723,155) Corporate allocations 47,903 Stock-based compensation expense 9,582 Pension benefit (2,246) Purchases from parent 3,193 Sales to parent (13,988) Other income tax 10,863 Transition tax related to the Tax Act 3,937 Cash dividend to former parent (1,032,948) Total net transfers to former parent $ (1,696,859) (a) Activity reflected through the Separation date.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 26, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT Dividend On October 27, 2020, the Board of Directors declared a regular quarterly cash dividend of $0.40 per share of the Company's Common Stock. The cash dividend will be payable on December 18, 2020, to shareholders of record at the close of business on December 10, 2020.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy	Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” and has since issued additional updates to provide further clarification. This guidance requires use of the current expected credit loss ("CECL") model, thus replacing the incurred credit loss model. The CECL model requires an entity to recognize an allowance for credit losses at each reporting period that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. The Company determined this guidance primarily applied to trade accounts receivable from customers and licensees, and adopted it on the first day of fiscal 2020 using the modified retrospective approach. There was no cumulative-effect adjustment to (accumulated deficit) retained earnings required upon adoption. See Note 4 to the Company's financial statements for additional disclosures on credit losses. 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," which modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This guidance was adopted by the Company during the first quarter of 2020 using a prospective approach and did not have a significant impact on the Company's financial statement disclosures. 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," which modifies the disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. This guidance was adopted by the Company during the first quarter of 2020 using a prospective approach and did not have a significant impact on the Company's financial statement disclosures. 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," which 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 was adopted by the Company during the first quarter of 2020 using a prospective approach and did not have a significant impact on the Company's financial statements as the new guidance is generally consistent with the Company's historical accounting policies. In April 2020, the FASB provided interpretive guidance that simplifies accounting for rent concessions, including rent deferrals, that are a direct consequence of COVID-19. In response to temporary store closures related to COVID-19, the Company continues to engage in discussions with landlords regarding potential rent deferrals and other rent concessions. The Company has elected to not evaluate whether a COVID-19 related rent concession constitutes a lease modification and will continue to account for rent deferrals or other rent concessions as lease modifications in accordance with existing Accounting Standards Codification ("ASC") 842 guidance. Lease modifications resulting from COVID-19 did not have a significant impact on the Company's financial statements for the three and nine months ended September 2020. Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which amends and simplifies the accounting for income taxes by removing certain exceptions in existing guidance and providing new guidance to reduce complexity in certain areas. This guidance is effective for the Company beginning in the first quarter of 2021 with early adoption permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its financial statements and related disclosures, which is not expected to be significant. In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting ,” which is intended to provide temporary optional expedients and exceptions for applying GAAP to contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective upon issuance and can be applied anytime from the issuance date through December 31, 2022. The impact of this guidance on the Company's financial statements and related disclosures will continue to be evaluated by the Company through the application period, and is not expected to be significant.
Revenue, Policy	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. Performance Obligations
Fair Value Measurement, Policy	Certain assets and liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. 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.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 26, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table presents information about contract balances recorded in the Company's balance sheets: (In thousands) September 2020 December 2019 September 2019 Accounts receivable, net $ 221,971 $ 228,459 $ 302,582 Contract assets (a) 4,385 10,679 3,429 Contract liabilities (b) 1,229 1,775 2,514 (a) Included within "prepaid expenses and other current assets" in the Company's balance sheets. (b) Included within "accrued liabilities" in the Company's balance sheets.
Disaggregation of Revenue	Three Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 285,639 $ 105,757 $ 2,259 $ 393,655 Non-U.S. Wholesale 35,724 70,555 1,124 107,403 Branded Direct-to-Consumer 25,266 38,128 8 63,402 Other — — 18,762 18,762 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Geographic revenues U.S. $ 307,512 $ 126,912 $ 21,029 $ 455,453 International 39,117 87,528 1,124 127,769 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Three Months Ended September 2019 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 283,616 $ 93,931 $ 5,970 $ 383,517 Non-U.S. Wholesale 60,523 99,386 340 160,249 Branded Direct-to-Consumer 23,067 38,904 9 61,980 Other — — 32,392 32,392 Total $ 367,206 $ 232,221 $ 38,711 $ 638,138 Geographic revenues U.S. $ 302,819 $ 115,700 $ 38,263 $ 456,782 International 64,387 116,521 448 181,356 Total $ 367,206 $ 232,221 $ 38,711 $ 638,138 Nine Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 739,104 $ 231,529 $ 8,823 $ 979,456 Non-U.S. Wholesale 99,912 157,413 1,428 258,753 Branded Direct-to-Consumer 62,654 94,220 11 156,885 Other — — 41,880 41,880 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974 Geographic revenues U.S. $ 792,662 $ 278,999 $ 50,714 $ 1,122,375 International 109,008 204,163 1,428 314,599 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974 Nine Months Ended September 2019 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 859,481 $ 303,547 $ 17,405 $ 1,180,433 Non-U.S. Wholesale 169,747 257,127 973 427,847 Branded Direct-to-Consumer 71,905 119,986 23 191,914 Other — — 96,034 96,034 Total $ 1,101,133 $ 680,660 $ 114,435 $ 1,896,228 Geographic revenues U.S. $ 914,519 $ 365,615 $ 113,143 $ 1,393,277 International 186,614 315,045 1,292 502,951 Total $ 1,101,133 $ 680,660 $ 114,435 $ 1,896,228

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 26, 2020
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following table presents financial information for the Company's reportable segments and income before income taxes: Three Months Ended September Nine Months Ended September (In thousands) 2020 2019 2020 2019 Segment revenues: Wrangler $ 346,629 $ 367,206 $ 901,670 $ 1,101,133 Lee 214,440 232,221 483,162 680,660 Total reportable segment revenues 561,069 599,427 1,384,832 1,781,793 Other revenues 22,153 38,711 52,142 114,435 Total net revenues $ 583,222 $ 638,138 $ 1,436,974 $ 1,896,228 Segment profit: Wrangler $ 76,908 $ 61,070 $ 139,709 $ 141,715 Lee 40,968 30,156 23,524 61,536 Total reportable segment profit $ 117,876 $ 91,226 $ 163,233 $ 203,251 Non-cash impairment of intangible asset (1) — (32,636) — (32,636) Corporate and other expenses (31,347) (29,861) (90,917) (64,232) Interest income from former parent, net — — — 3,762 Interest expense (13,249) (14,140) (37,308) (21,876) Interest income 283 712 1,255 3,543 (Loss) profit related to other revenues (4,416) 843 (13,121) (437) Income before income taxes $ 69,147 $ 16,144 $ 23,142 $ 91,375 (1) Represents an impairment charge recorded during the third quarter of 2019 related to the Rock & Republic ® trademark. See Note 7 to the Company's financial statements.

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	9 Months Ended
	Sep. 26, 2020
Receivables [Abstract]
Allowance Accounts Receivable	The following table presents a rollforward of the allowance for doubtful accounts: (In thousands) Nine Months Ended September 2020 Balance, December 2019 $ 11,852 Provision for expected credit losses 19,642 Accounts receivable balances written off (8,801) Other (1) 65 Balance, September 2020 $ 22,758 (1) Other primarily includes the impact of foreign currency translation and recoveries of amounts previously written off, none of which were individually significant.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 26, 2020
Inventory Disclosure [Abstract]
Inventories	The following table presents components of inventories recorded in the Company's balance sheets: (In thousands) September 2020 December 2019 September 2019 Finished products $ 368,976 $ 383,643 $ 480,492 Work-in-process 26,541 34,783 26,493 Raw materials 36,763 39,675 38,441 Total inventories $ 432,280 $ 458,101 $ 545,426

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 26, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term Debt The following table presents the components of long-term debt as recorded in the Company's balance sheet: (In thousands) September 2020 December 2019 September 2019 Revolving Credit Facility $ 125,000 $ — $ — Term Loan A 693,817 695,111 694,833 Term Loan B 218,518 218,158 293,274 Total long-term debt 1,037,335 913,269 988,107 Less: current portion (15,625) — (7,500) Long-term debt, due beyond one year $ 1,021,710 $ 913,269 $ 980,607

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 26, 2020
Fair Value Disclosures [Abstract]
Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following tables present 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 September 2020 Financial assets: Cash equivalents: Money market funds $ 197,682 $ 197,682 $ — $ — Time deposits 2,688 2,688 — — Foreign currency exchange contracts 2,768 — 2,768 — Investment securities 54,841 54,841 — — Financial liabilities: Foreign currency exchange contracts 7,245 — 7,245 — Interest rate swap agreements 18,094 — 18,094 — Deferred compensation 55,261 — 55,261 — Fair Value Measurement Using (In thousands) Total Fair Value Level 1 Level 2 Level 3 December 2019 Financial assets: Cash equivalents: Money market funds $ 25,706 $ 25,706 $ — $ — Time deposits 4,788 4,788 — — Foreign currency exchange contracts 5,563 — 5,563 — Investment securities 59,922 56,437 3,485 — Financial liabilities: Foreign currency exchange contracts 2,795 — 2,795 — Interest rate swap agreements 3,089 — 3,089 — Deferred compensation 60,129 — 60,129 —

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents the fair value of outstanding derivatives on an individual contract basis: Fair Value of Derivatives Fair Value of Derivatives (In thousands) September 2020 December 2019 September 2019 September 2020 December 2019 September 2019 Derivatives designated as hedging instruments: Foreign currency exchange contracts $ 2,310 $ 5,199 $ 3,463 $ (7,096) $ (2,690) $ (2,603) Interest rate swap agreements — — — (18,094) (3,089) (4,861) Derivatives not designated as hedging instruments: Foreign currency exchange contracts 458 364 41 (149) (105) (110) Total derivatives $ 2,768 $ 5,563 $ 3,504 $ (25,339) $ (5,884) $ (7,574) The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances: September 2020 December 2019 September 2019 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Gross amounts presented in the balance sheet $ 2,768 $ (25,339) $ 5,563 $ (5,884) $ 3,504 $ (7,574) Gross amounts not offset in the balance sheet (2,110) 2,110 (1,133) 1,133 (507) 507 Net amounts $ 658 $ (23,229) $ 4,430 $ (4,751) $ 2,997 $ (7,067) The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates: (In thousands) September 2020 December 2019 September 2019 Prepaid expenses and other current assets $ 2,006 $ 4,303 $ 2,900 Accrued liabilities (6,594) (2,058) (2,376) Other assets 762 1,260 604 Other liabilities (18,745) (3,826) (5,198)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following tables present the effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income (loss): Gain (Loss) on Derivatives Recognized in AOCL (In thousands) Three Months Ended Nine Months Ended Cash Flow Hedging Relationships September 2020 September 2019 September 2020 September 2019 Foreign currency exchange contracts $ (313) $ 3,926 $ (10,407) $ 1,868 Interest rate swap agreements (897) (4,220) (18,220) (4,220) Total $ (1,210) $ (294) $ (28,627) $ (2,352) Gain (Loss) Reclassified from AOCL into Income (In thousands) Three Months Ended Nine Months Ended Location of Gain (Loss) September 2020 September 2019 September 2020 September 2019 Net revenues $ (36) $ (379) $ (588) $ (475) Cost of goods sold (578) 3,486 4,778 3,901 Other expense, net 36 328 173 371 Interest expense (1,636) 642 (3,216) 642 Total $ (2,214) $ 4,077 $ 1,147 $ 4,439
Derivatives Not Designated as Hedging Instruments	The following table presents a summary of these derivatives included in the Company's statements of operations: (In thousands) Location of Gain (Loss) on Derivatives Recognized in Income Gain (Loss) on Derivatives Recognized in Income Three Months Ended Nine Months Ended Derivatives Not Designated as Hedges September 2020 September 2019 September 2020 September 2019 Foreign currency exchange contracts Net revenues $ 37 $ — $ 43 $ — Cost of goods sold 563 72 (2,559) 15 Other expense, net (18) — (8) — Total $ 582 $ 72 $ (2,524) $ 15

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 26, 2020
Equity [Abstract]
Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in Accumulated OCI	The following table presents deferred components of AOCL in equity, net of related taxes: (In thousands) September 2020 December 2019 September 2019 Foreign currency translation $ (101,057) $ (84,118) $ (93,199) Defined benefit pension plans (2,356) (2,301) (775) Derivative financial instruments (19,384) 6,721 5,139 Accumulated other comprehensive loss $ (122,797) $ (79,698) $ (88,835) The following tables present changes in AOCL, net of related tax impact: Three Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2020 $ (108,129) $ (2,289) $ (20,880) $ (131,298) Other comprehensive income (loss) before reclassifications 7,072 (77) (469) 6,526 Amounts reclassified from accumulated other comprehensive income (loss) — 10 1,965 1,975 Net other comprehensive income (loss) 7,072 (67) 1,496 8,501 Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) Three Months Ended September 2019 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2019 $ (81,841) $ (1,072) $ 9,225 $ (73,688) Other comprehensive income (loss) before reclassifications (11,358) 297 (468) (11,529) Amounts reclassified from accumulated other comprehensive income (loss) — — (3,618) (3,618) Net other comprehensive income (loss) (11,358) 297 (4,086) (15,147) Balance, September 2019 $ (93,199) $ (775) $ 5,139 $ (88,835) Nine Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, December 2019 $ (84,118) $ (2,301) $ 6,721 $ (79,698) Other comprehensive income (loss) before reclassifications (16,939) (85) (24,944) (41,968) Amounts reclassified from accumulated other comprehensive income (loss) — 30 (1,161) (1,131) Net other comprehensive income (loss) (16,939) (55) (26,105) (43,099) Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) Nine Months Ended September 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 (5,914) 283 (2,526) (8,157) Amounts reclassified from accumulated other comprehensive income (loss) — — (3,980) (3,980) Net other comprehensive income (loss) (5,914) 283 (6,506) (12,137) Amounts transferred from former parent 57,897 (1,058) 11,645 68,484 Balance, September 2019 $ (93,199) $ (775) $ 5,139 $ (88,835)
Reclassification out of Accumulated Other Comprehensive Income	The following table presents reclassifications out of AOCL: (In thousands) Three Months Ended September Nine Months Ended September Details About Accumulated Other Comprehensive Loss Reclassifications Affected Line Item in the Financial Statements 2020 2019 2020 2019 Defined benefit pension plans: Net change in deferred actuarial losses Selling, general and administrative expenses $ (14) $ — $ (42) $ — Total before tax (14) — (42) — Tax benefit Income taxes 4 — 12 — Net of tax (10) — (30) — Gains (losses) on derivative financial instruments: Foreign currency exchange contracts Net revenues $ (36) $ (379) $ (588) $ (475) Foreign currency exchange contracts Cost of goods sold (578) 3,486 4,778 3,901 Foreign currency exchange contracts Other expense, net 36 328 173 371 Interest rate swap agreements Interest expense (1,636) 642 (3,216) 642 Total before tax (2,214) 4,077 1,147 4,439 Income taxes Income taxes (249) 459 (14) 459 Net of tax (1,965) 3,618 1,161 3,980 Total reclassifications for the period, net of tax $ (1,975) $ 3,618 $ 1,131 $ 3,980

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 26, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table presents the calculations of basic and diluted EPS: Three Months Ended September Nine Months Ended September (In thousands, except per share amounts) 2020 2019 2020 2019 Net income $ 60,785 $ 14,502 $ 24,811 $ 67,901 Basic weighted average shares outstanding 57,007 56,694 56,938 56,663 Dilutive effect of stock-based awards 635 707 731 326 Diluted weighted average shares outstanding 57,642 57,401 57,669 56,989 Earnings per share: Basic earnings per common share $ 1.07 $ 0.26 $ 0.44 $ 1.20 Diluted earnings per common share $ 1.05 $ 0.25 $ 0.43 $ 1.19

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 26, 2020
Leases [Abstract]
Schedule of Lease Costs	The following table presents supplemental cash flow and non-cash information related to leases: (In thousands) Nine Months Ended September 2020 Nine Months Ended September 2019 Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 32,016 $ 34,486 Right-of-use assets obtained in exchange for new operating leases - non-cash activity $ 769 $ 38,939

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Sep. 26, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table presents the components of restructuring charges: Three Months Ended Nine Months Ended (In thousands) September 2020 September 2019 September 2020 September 2019 Severance and employee-related benefits $ 2,314 $ — $ 12,324 $ 14,903 Asset impairments — — 1,579 1,596 Inventory write-downs — — — 4,403 Other — — — 3,660 Total restructuring charges $ 2,314 $ — $ 13,903 $ 24,562 The following table presents the restructuring costs by business segment: Three Months Ended Nine Months Ended (In thousands) September 2020 September 2019 September 2020 September 2019 Wrangler $ — $ — $ 3,656 $ 17,613 Lee — — 3,131 6,685 Corporate and other 2,314 — 7,116 264 Total $ 2,314 $ — $ 13,903 $ 24,562
Activity in Restructuring	The following table presents activity in the restructuring accrual for the nine-month period ended September 2020: (In thousands) Total Accrual at December 2019 $ 2,172 Charges 12,324 Cash payments (6,550) Adjustments to accruals (740) Accrual at September 2020 $ 7,206

TRANSACTIONS WITH FORMER PARE_2

TRANSACTIONS WITH FORMER PARENT (Tables)	9 Months Ended
	Sep. 26, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents components of the transfers to and from VF : (In thousands) Nine Months Ended September 2019 (a) General financing activities $ (723,155) Corporate allocations 47,903 Stock-based compensation expense 9,582 Pension benefit (2,246) Purchases from parent 3,193 Sales to parent (13,988) Other income tax 10,863 Transition tax related to the Tax Act 3,937 Cash dividend to former parent (1,032,948) Total net transfers to former parent $ (1,696,859) (a) Activity reflected through the Separation date.

REVENUES - Remaining Performanc

REVENUES - Remaining Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-09-27 $ in Millions	Sep. 26, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 19.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years 3 months

REVENUES - Contract Assets and

REVENUES - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 221,971	$ 228,459	$ 302,582
Contract assets	4,385	10,679	3,429
Contract liabilities	$ 1,229	$ 1,775	$ 2,514

REVENUES - Additional Informati

REVENUES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 0.2	$ 0.2	$ 1.4	$ 1.7

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 583,222	$ 638,138	$ 1,436,974	$ 1,896,228
U.S.
Disaggregation of Revenue [Line Items]
Revenue	455,453	456,782	1,122,375	1,393,277
International
Disaggregation of Revenue [Line Items]
Revenue	127,769	181,356	314,599	502,951
Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	393,655	383,517	979,456	1,180,433
Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	107,403	160,249	258,753	427,847
Branded Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	63,402	61,980	156,885	191,914
Other
Disaggregation of Revenue [Line Items]
Revenue	18,762	32,392	41,880	96,034
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	561,069	599,427	1,384,832	1,781,793
Operating Segments | Wrangler
Disaggregation of Revenue [Line Items]
Revenue	346,629	367,206	901,670	1,101,133
Operating Segments | Wrangler | U.S.
Disaggregation of Revenue [Line Items]
Revenue	307,512	302,819	792,662	914,519
Operating Segments | Wrangler | International
Disaggregation of Revenue [Line Items]
Revenue	39,117	64,387	109,008	186,614
Operating Segments | Wrangler | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	285,639	283,616	739,104	859,481
Operating Segments | Wrangler | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	35,724	60,523	99,912	169,747
Operating Segments | Wrangler | Branded Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	25,266	23,067	62,654	71,905
Operating Segments | Wrangler | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Operating Segments | Lee
Disaggregation of Revenue [Line Items]
Revenue	214,440	232,221	483,162	680,660
Operating Segments | Lee | U.S.
Disaggregation of Revenue [Line Items]
Revenue	126,912	115,700	278,999	365,615
Operating Segments | Lee | International
Disaggregation of Revenue [Line Items]
Revenue	87,528	116,521	204,163	315,045
Operating Segments | Lee | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	105,757	93,931	231,529	303,547
Operating Segments | Lee | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	70,555	99,386	157,413	257,127
Operating Segments | Lee | Branded Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	38,128	38,904	94,220	119,986
Operating Segments | Lee | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Operating Segments | Other
Disaggregation of Revenue [Line Items]
Revenue	22,153	38,711	52,142	114,435
Other | Other
Disaggregation of Revenue [Line Items]
Revenue	22,153	38,711	52,142	114,435
Other | Other | U.S.
Disaggregation of Revenue [Line Items]
Revenue	21,029	38,263	50,714	113,143
Other | Other | International
Disaggregation of Revenue [Line Items]
Revenue	1,124	448	1,428	1,292
Other | Other | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,259	5,970	8,823	17,405
Other | Other | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	1,124	340	1,428	973
Other | Other | Branded Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	8	9	11	23
Other | Other | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 18,762	$ 32,392	$ 41,880	$ 96,034

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
	Sep. 26, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	2

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Segment Reporting Information [Line Items]
Total net revenues	$ 583,222	$ 638,138	$ 1,436,974	$ 1,896,228
Operating income	82,864	31,028	60,905	109,743
Non-cash impairment of intangible asset	0	(32,636)	0	(32,636)
Interest income from former parent, net	0	0	0	3,762
Interest expense	(13,249)	(14,140)	(37,308)	(21,876)
Interest income	283	712	1,255	3,543
Income before income taxes	69,147	16,144	23,142	91,375
Operating Segments
Segment Reporting Information [Line Items]
Total net revenues	561,069	599,427	1,384,832	1,781,793
Operating income	117,876	91,226	163,233	203,251
Operating Segments | Wrangler
Segment Reporting Information [Line Items]
Total net revenues	346,629	367,206	901,670	1,101,133
Operating income	76,908	61,070	139,709	141,715
Operating Segments | Lee
Segment Reporting Information [Line Items]
Total net revenues	214,440	232,221	483,162	680,660
Operating income	40,968	30,156	23,524	61,536
Operating Segments | Other
Segment Reporting Information [Line Items]
Total net revenues	22,153	38,711	52,142	114,435
Operating income	(4,416)	843	(13,121)	(437)
Corporate and other expenses
Segment Reporting Information [Line Items]
Corporate and other expenses	(31,347)	(29,861)	(90,917)	(64,232)
Interest income from former parent, net	$ 0	$ 0	$ 0	$ 3,762

ACCOUNTS RECEIVABLE Roll-forwar

ACCOUNTS RECEIVABLE Roll-forward of the allowance for doubtful accounts (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
December 2019	$ 11,852
Provision for expected credit losses	19,642	$ 5,386
Accounts receivable balances written off	(8,801)
Other	65
September 2020	$ 22,758

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Receivables [Abstract]
Maximum amount of accounts receivable sold at any point in time (up to)	$ 377.5		$ 377.5
Sale of accounts receivable			700.9	$ 758
Accounts receivable removed related to sale of accounts receivable	195	$ 172.1	195	172.1	$ 188.1
Funding fee	$ 0.5	$ 1.2	$ 1.6	$ 4.1

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Inventory Disclosure [Abstract]
Finished products	$ 368,976	$ 383,643	$ 480,492
Work-in-process	26,541	34,783	26,493
Raw materials	36,763	39,675	38,441
Total inventories	$ 432,280	$ 458,101	$ 545,426

SHORT-TERM BORROWINGS AND LON_3

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Additional Information (Details)	May 17, 2019USD ($)	Jun. 30, 2020USD ($)	May 31, 2020USD ($)	Jul. 02, 2021	Apr. 02, 2021	Jan. 02, 2021	Sep. 26, 2020USD ($)	Sep. 26, 2020USD ($)	Sep. 28, 2019USD ($)	May 05, 2020USD ($)	Mar. 28, 2020USD ($)	Dec. 28, 2019USD ($)
Short-term Debt [Line Items]
Line of credit facility, amount outstanding	$ 1,550,000,000
Proceeds from issuance of term loans	1,050,000,000							$ 0	$ 1,050,000,000
Leverage ratio							5.50	4
Debt instrument, interest coverage ratio								3
Minimum liquidity floor										$ 200,000,000
Debt agreement, available cash threshold										$ 250,000,000
Current portion of long-term debt							$ 148,000	$ 148,000	6,028,000			$ 1,070,000
Long-term debt							1,037,335,000	1,037,335,000	988,107,000			913,269,000
Repayments of debt		$ 75,000,000	$ 175,000,000				100,000,000	0	50,000,000
Remaining borrowing capacity							$ 368,200,000	368,200,000
Unused capacity, commitment fee percentage							0.50%
Interest paid, excluding capitalized interest, operating activities								33,000,000	13,700,000
Letter of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity							$ 75,000,000	75,000,000
Long-term line of credit							6,800,000	$ 6,800,000
Revolving Credit Facility
Short-term Debt [Line Items]
Debt instrument, term								5 years
Maximum borrowing capacity	500,000,000
Long-term debt							125,000,000	$ 125,000,000	0		$ 475,000,000	0
International borrowing arrangements
Short-term Debt [Line Items]
Maximum borrowing capacity							39,100,000	39,100,000	47,500,000			47,800,000
Current portion of long-term debt							100,000	$ 100,000	6,000,000			1,100,000
Term Loan A | Term Loan
Short-term Debt [Line Items]
Debt instrument, term								5 years
Maximum borrowing capacity	750,000,000
Long-term debt							$ 693,817,000	$ 693,817,000	694,833,000			695,111,000
Long-term debt												700,000,000
Effective annual interest rate							4.40%	4.40%
Term Loan B | Term Loan
Short-term Debt [Line Items]
Debt instrument, term								7 years
Maximum borrowing capacity	$ 300,000,000
Long-term debt							$ 218,518,000	$ 218,518,000	293,274,000			218,158,000
Long-term debt							$ 223,000,000	$ 223,000,000	$ 300,000,000			$ 223,000,000
Effective annual interest rate							5.50%	5.50%
Base Rate
Short-term Debt [Line Items]
Basis spread							2.25%
Base Rate | Term Loan B | Term Loan
Short-term Debt [Line Items]
Basis spread								3.25%
London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread							3.25%
London Interbank Offered Rate (LIBOR) | Term Loan B | Term Loan
Short-term Debt [Line Items]
Basis spread								4.25%
Minimum
Short-term Debt [Line Items]
Unused capacity, commitment fee percentage								0.20%
Minimum | Base Rate
Short-term Debt [Line Items]
Basis spread								0.375%
Minimum | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread								1.375%
Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Short-term Debt [Line Items]
Basis spread								0.00%
Maximum
Short-term Debt [Line Items]
Unused capacity, commitment fee percentage								0.40%
Maximum | Base Rate
Short-term Debt [Line Items]
Basis spread								1.25%
Maximum | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread								2.25%
Forecast
Short-term Debt [Line Items]
Leverage ratio				4.50	5	5.50

SHORT-TERM BORROWINGS AND LON_4

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019
Debt Instrument [Line Items]
Total long-term debt	$ 1,037,335		$ 913,269	$ 988,107
Less current portion	(15,625)		0	(7,500)
Long-term debt, due beyond one year	1,021,710		913,269	980,607
Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt	125,000	$ 475,000	0	0
Term Loan A | Term Loan
Debt Instrument [Line Items]
Total long-term debt	693,817		695,111	694,833
Term Loan B | Term Loan
Debt Instrument [Line Items]
Total long-term debt	$ 218,518		$ 218,158	$ 293,274

FAIR VALUE MEASUREMENTS - Measu

FAIR VALUE MEASUREMENTS - Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Cash equivalents:
Money market funds	$ 197,682	$ 25,706
Time deposits	2,688	4,788
Foreign currency exchange contracts	2,768	5,563	$ 3,504
Investment securities	54,841	59,922
Financial liabilities:
Derivative liability	25,339	5,884	$ 7,574
Deferred compensation	55,261	60,129
Level 1
Cash equivalents:
Money market funds	197,682	25,706
Time deposits	2,688	4,788
Investment securities	54,841	56,437
Financial liabilities:
Deferred compensation	0	0
Level 2
Cash equivalents:
Money market funds	0	0
Time deposits	0	0
Investment securities	0	3,485
Financial liabilities:
Deferred compensation	55,261	60,129
Level 3
Cash equivalents:
Money market funds	0	0
Time deposits	0	0
Investment securities	0	0
Financial liabilities:
Deferred compensation	0	0
Foreign currency exchange contracts
Cash equivalents:
Foreign currency exchange contracts	2,768	5,563
Financial liabilities:
Derivative liability	7,245	2,795
Foreign currency exchange contracts | Level 1
Cash equivalents:
Foreign currency exchange contracts	0	0
Financial liabilities:
Derivative liability	0	0
Foreign currency exchange contracts | Level 2
Cash equivalents:
Foreign currency exchange contracts	2,768	5,563
Financial liabilities:
Derivative liability	7,245	2,795
Foreign currency exchange contracts | Level 3
Cash equivalents:
Foreign currency exchange contracts	0	0
Financial liabilities:
Derivative liability	0	0
Interest rate swap agreements
Financial liabilities:
Derivative liability	18,094	3,089
Interest rate swap agreements | Level 1
Financial liabilities:
Derivative liability	0	0
Interest rate swap agreements | Level 2
Financial liabilities:
Derivative liability	18,094	3,089
Interest rate swap agreements | Level 3
Financial liabilities:
Derivative liability	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Jun. 27, 2020	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 1,037,335	$ 988,107		$ 1,037,335	$ 988,107	$ 913,269
Asset impairments	0	0		1,579	1,596
Non-cash impairment of intangible asset	0	$ 32,636		0	$ 32,636
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairments			$ 1,800
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 1,034,200			$ 1,034,200		$ 906,100

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Additional information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 28, 2020	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Derivative [Line Items]
Reclassified from accumulated OCI into income	0.4 million	0.4 million
Cash flow hedge gain (loss) to be reclassified during next 12 months		$ 10.7
Foreign currency exchange contracts
Derivative [Line Items]
Notional amount		$ 258.6	$ 341.6	$ 320.5
Term of contract (up to)		20 months
Interest rate swap agreements
Derivative [Line Items]
Notional amount		$ 400	$ 475	$ 475

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding derivatives on an individual contract basis (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Fair Value of Derivatives with Unrealized Gains
Foreign currency exchange contracts	$ 2,768	$ 5,563	$ 3,504
Fair Value of Derivatives with Unrealized Losses
Foreign currency exchange contracts	(25,339)	(5,884)	(7,574)
Designated as Hedging Instrument | Foreign currency exchange contracts
Fair Value of Derivatives with Unrealized Gains
Foreign currency exchange contracts	2,310	5,199	3,463
Fair Value of Derivatives with Unrealized Losses
Foreign currency exchange contracts	(7,096)	(2,690)	(2,603)
Designated as Hedging Instrument | Interest rate swap agreements
Fair Value of Derivatives with Unrealized Gains
Foreign currency exchange contracts	0	0	0
Fair Value of Derivatives with Unrealized Losses
Foreign currency exchange contracts	(18,094)	(3,089)	(4,861)
Not Designated as Hedging Instrument | Foreign currency exchange contracts
Fair Value of Derivatives with Unrealized Gains
Derivatives not designated as hedging instruments:	458	364	41
Fair Value of Derivatives with Unrealized Losses
Derivatives not designated as hedging instruments:	$ (149)	$ (105)	$ (110)

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Balance sheet (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Derivative Asset
Gross amounts presented in the balance sheet	$ 2,768	$ 5,563	$ 3,504
Gross amounts not offset in the balance sheet	(2,110)	(1,133)	(507)
Derivative Asset	658	4,430	2,997
Derivative Liability
Gross amounts presented in the balance sheet	(25,339)	(5,884)	(7,574)
Gross amounts not offset in the balance sheet	2,110	1,133	507
Derivative Liability	$ (23,229)	$ (4,751)	$ (7,067)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivatives are classified as current or noncurrent (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019	Sep. 28, 2019
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ 2,768	$ 5,563	$ 3,504
Foreign currency exchange contracts	(25,339)	(5,884)	(7,574)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	2,006	4,303	2,900
Accrued liabilities
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	(6,594)	(2,058)	(2,376)
Other assets
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	762	1,260	604
Other liabilities
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ (18,745)	$ (3,826)	$ (5,198)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Cash flows hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	$ (1,210)	$ (294)	$ (28,627)	$ (2,352)
Foreign currency exchange contracts
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(313)	3,926	(10,407)	1,868
Interest rate swap agreements
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	$ (897)	$ (4,220)	$ (18,220)	$ (4,220)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Location of gain (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	$ (2,214)	$ 4,077	$ 1,147	$ 4,439
Net revenues
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	(36)	(379)	(588)	(475)
Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	(578)	3,486	4,778	3,901
Other expense, net
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	36	328	173	371
Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	$ (1,636)	$ 642	$ (3,216)	$ 642

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative contracts not designated as hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 582	$ 72	$ (2,524)	$ 15
Net revenues
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	37	0	43	0
Cost of goods sold
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	563	72	(2,559)	15
Other expense, net
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (18)	$ 0	$ (8)	$ 0

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	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018
Equity [Abstract]
Accumulated other comprehensive loss	$ 26,028	$ (44,889)	$ (18,485)	$ 69,257	$ 55,571	$ 82,168	$ 1,578,982	$ 1,723,452
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	26,028	(44,889)	(18,485)	69,257	55,571	82,168	1,578,982	1,723,452
Foreign Currency Translation
Equity [Abstract]
Accumulated other comprehensive loss	(101,057)	(108,129)		(84,118)	(93,199)	(81,841)		(145,182)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(101,057)	(108,129)		(84,118)	(93,199)	(81,841)		(145,182)
Defined Benefit Pension Plans
Equity [Abstract]
Accumulated other comprehensive loss	(2,356)	(2,289)		(2,301)	(775)	(1,072)		0
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(2,356)	(2,289)		(2,301)	(775)	(1,072)		0
Derivative Financial Instruments
Equity [Abstract]
Accumulated other comprehensive loss	(19,384)	(20,880)		6,721	5,139	9,225		0
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(19,384)	(20,880)		6,721	5,139	9,225		0
Accumulated Other Comprehensive Loss
Equity [Abstract]
Accumulated other comprehensive loss	(122,797)	(131,298)	(133,462)	(79,698)	(88,835)	(73,688)	(144,424)	(145,182)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (122,797)	$ (131,298)	$ (133,462)	$ (79,698)	$ (88,835)	$ (73,688)	$ (144,424)	$ (145,182)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in Accumulated OCI, Net of Related Taxes (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Sep. 26, 2020	Sep. 28, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	$ (44,889)	$ 82,168	$ 1,578,982	$ 1,723,452	$ 69,257	$ 1,723,452
Other comprehensive income (loss) before reclassifications	6,526	(11,529)			(41,968)	(8,157)
Amounts reclassified from accumulated other comprehensive income (loss)	1,975	(3,618)			(1,131)	(3,980)
Net other comprehensive income (loss)	8,501	(15,147)			(43,099)	(12,137)
Amounts transferred from former parent			(1,538,931)	(157,928)
Balance, ending	26,028	55,571	82,168	1,578,982	26,028	55,571
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(108,129)	(81,841)		(145,182)	(84,118)	(145,182)
Other comprehensive income (loss) before reclassifications	7,072	(11,358)			(16,939)	(5,914)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0			0	0
Net other comprehensive income (loss)	7,072	(11,358)			(16,939)	(5,914)
Amounts transferred from former parent						57,897
Balance, ending	(101,057)	(93,199)	(81,841)		(101,057)	(93,199)
Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(2,289)	(1,072)		0	(2,301)	0
Other comprehensive income (loss) before reclassifications	(77)	297			(85)	283
Amounts reclassified from accumulated other comprehensive income (loss)	10	0			30	0
Net other comprehensive income (loss)	(67)	297			(55)	283
Amounts transferred from former parent						(1,058)
Balance, ending	(2,356)	(775)	(1,072)		(2,356)	(775)
Derivative Financial Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(20,880)	9,225		0	6,721	0
Other comprehensive income (loss) before reclassifications	(469)	(468)			(24,944)	(2,526)
Amounts reclassified from accumulated other comprehensive income (loss)	1,965	(3,618)			(1,161)	(3,980)
Net other comprehensive income (loss)	1,496	(4,086)			(26,105)	(6,506)
Amounts transferred from former parent						11,645
Balance, ending	(19,384)	5,139	9,225		(19,384)	5,139
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(131,298)	(73,688)	(144,424)	(145,182)	(79,698)	(145,182)
Amounts transferred from former parent			68,484			68,484
Balance, ending	$ (122,797)	$ (88,835)	$ (73,688)	$ (144,424)	$ (122,797)	$ (88,835)

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassification Out of Accumulated OCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 174,846	$ 192,293	$ 521,935	$ 596,466
Net revenues	583,222	638,138	1,436,974	1,896,228
Other expense, net	(751)	(1,456)	(1,710)	(3,797)
Total before tax	69,147	16,144	23,142	91,375
Income taxes	(8,362)	(1,642)	1,669	(23,474)
Total reclassifications for the period, net of tax	(1,975)	3,618	1,131	3,980
Defined Benefit Pension Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	(10)	0	(30)	0
Defined Benefit Pension Plans | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	(14)	0	(42)	0
Total before tax	(14)	0	(42)	0
Income taxes	4	0	12	0
Total reclassifications for the period, net of tax	(10)	0	(30)	0
Derivative Financial Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	(1,965)	3,618	1,161	3,980
Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(2,214)	4,077	1,147	4,439
Income taxes	(249)	459	(14)	459
Total reclassifications for the period, net of tax	(1,965)	3,618	1,161	3,980
Foreign currency exchange contracts | Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenues	(36)	(379)	(588)	(475)
Cost of goods sold	(578)	3,486	4,778	3,901
Other expense, net	36	328	173	371
Interest rate swap agreements | Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (1,636)	$ 642	$ (3,216)	$ 642

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Operating Loss Carryforwards [Line Items]
Effective income tax rate			(7.20%)	25.70%
Net discrete tax benefits (expense)			$ 6,800	$ (1,100)
Non-cash impairment of intangible asset	$ 0	$ 32,636	$ 0	$ 32,636
Impairment, tax benefit		$ 7,400
Tax increase (reduction) due to discrete items			(29.20%)	1.20%
Realization of unrecognized net tax benefit (expense)				$ (4,500)
Tax benefit related stock compensation				$ 3,400
Income tax rate, excluding discrete items			22.00%	24.50%
Decrease in unrecognized tax benefits and associated interest			$ 500
Net unrecognized tax benefits and interest, if recognized, would reduce the annual effective tax rate	14,800		14,800
Possible decrease in unrecognized income tax benefits	900		900
Amount of unrecorded benefit	$ 700		700
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net discrete tax benefits (expense)			6,300
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net discrete tax benefits (expense)			$ 700

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares	May 22, 2019	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of shares outstanding - basic and diluted (in shares)	56,647,561
Anti-dilutive stock-based awards excluded from diluted calculation (in USD per share)		1,600,000	300,000	1,100,000	200,000
Performance Based Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock-based awards excluded from diluted calculation (in USD per share)		400,000	500,000

EARNINGS PER SHARE - Earnings p

EARNINGS PER SHARE - Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Sep. 26, 2020	Sep. 28, 2019
Earnings Per Share [Abstract]
Net income	$ 60,785	$ (33,262)	$ (2,712)	$ 14,502	$ 37,986	$ 15,413	$ 24,811	$ 67,901
Basic weighted average shares outstanding (in shares)	57,007			56,694			56,938	56,663
Dilutive effect of stock-based awards (in shares)	635			707			731	326
Diluted weighted average shares outstanding (in shares)	57,642			57,401			57,669	56,989
Earnings per share:
Basic earnings per share (in USD per share)	$ 1.07			$ 0.26			$ 0.44	$ 1.20
Diluted earnings per share (in USD per share)	$ 1.05			$ 0.25			$ 0.43	$ 1.19

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows	$ 32,016	$ 34,486
Right-of-use assets obtained in exchange for new operating leases - non-cash activity	$ 769	$ 38,939

RESTRUCTURING - Additional Info

RESTRUCTURING - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,314	$ 0	$ 13,903	$ 24,562
Restructuring reserve	7,206		7,206		$ 2,172
Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Accrued Liabilities	7,000		7,000
Other Accrued Liabilities	200		200
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,900		13,000	13,800
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 400		$ 900	$ 10,800

RESTRUCTURING - Restructuring c

RESTRUCTURING - Restructuring costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Restructuring and Related Activities [Abstract]
Severance and employee-related benefits	$ 2,314	$ 0	$ 12,324	$ 14,903
Asset impairments	0	0	1,579	1,596
Inventory write-downs	0	0	0	4,403
Other	0	0	0	3,660
Total restructuring charges	$ 2,314	$ 0	$ 13,903	$ 24,562

RESTRUCTURING - Restructuring_2

RESTRUCTURING - Restructuring costs by business segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,314	$ 0	$ 13,903	$ 24,562
Operating Segments | Wrangler
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	3,656	17,613
Operating Segments | Lee
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	3,131	6,685
Operating Segments | Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,314	$ 0	$ 7,116	$ 264

RESTRUCTURING - Activity in res

RESTRUCTURING - Activity in restructuring accrual (Details) $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	$ 2,172
Amounts recorded in accrued liabilities. ending	7,206
Total
Restructuring Reserve [Roll Forward]
Charges	12,324
Cash payments	(6,550)
Adjustments to accruals	$ (740)

TRANSACTIONS WITH FORMER PARE_3

TRANSACTIONS WITH FORMER PARENT - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Related Party Transactions [Abstract]
Sales to related party				$ 14,100
Related party transaction, cost of goods sold				500
Related party transaction, remaining inventory purchased from related party	$ 200	$ 500	$ 200	500	$ 400
Interest income from former parent, net	$ 0	$ 0	$ 0	$ 3,762

TRANSACTIONS WITH FORMER PARE_4

TRANSACTIONS WITH FORMER PARENT - Net Transfers To and From VF (Details) $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)
Related Party Transaction [Line Items]
Transfer (To) From Related Party	$ (1,696,859)
General financing activities
Related Party Transaction [Line Items]
Transfer (To) From Related Party	(723,155)
Corporate allocations
Related Party Transaction [Line Items]
Transfer (To) From Related Party	47,903
Stock-based compensation expense
Related Party Transaction [Line Items]
Transfer (To) From Related Party	9,582
Pension benefit
Related Party Transaction [Line Items]
Transfer (To) From Related Party	(2,246)
Purchases from parent
Related Party Transaction [Line Items]
Transfer (To) From Related Party	3,193
Sales to parent
Related Party Transaction [Line Items]
Transfer (To) From Related Party	(13,988)
Other income tax
Related Party Transaction [Line Items]
Transfer (To) From Related Party	10,863
Transition tax related to the Tax Act
Related Party Transaction [Line Items]
Transfer (To) From Related Party	3,937
Cash dividend to former parent
Related Party Transaction [Line Items]
Transfer (To) From Related Party	$ (1,032,948)

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details)	Oct. 27, 2020$ / shares
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Dividends payable (in USD per share)	$ 0.40