Levi Strauss surges on profit forecast raise as direct customer sales, cost cuts pay off [Reuters]
Levi Strauss & Co Class A (LEVI)
Last levi strauss & co class a earnings: 4/7 04:15 pm
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Source: Reuters
April 4 (Reuters) - Shares of Levi Strauss & Co (LEVI.N) , opens new tab jumped 20% to a more than two-year high on Thursday as the jeans maker raised its annual profit forecast, powered by new CEO's cost-cutting initiatives and a focus on direct-to-customer (DTC) sales. The company has turned to own stores and its website to drive sales as some of its wholesale partners such as department store chains Macy's (M.N) , opens new tab and Kohl's (KSS.N) , opens new tab struggle to attract customers. The DTC channel accounted for nearly half of the total revenue in the first quarter ended Feb. 25, up from 42% in the prior quarter. CEO Michelle Gass, the former top boss at Kohl's who took charge in January, has cut jobs to rein in costs against the backdrop of a pressured wholesale channel and unpredictable consumer demand. "The jeans category has stabilized in the U.S., now flat to prior year, after several years of volatility," Gass said on Wednesday. The latest earnings drew p
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News
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- LEVI'S® BOLSTERS ITS RETAIL REACH IN INDIA, UNVEILS ITS LARGEST MALL STORE TO DATE IN NEXUS MALL, KORAMANGALA IN BENGALURUPR Web
- LEVI'S® BOLSTERS ITS RETAIL REACH IN INDIA, UNVEILS ITS LARGEST MALL STORE TO DATE IN NEXUS MALL, KORAMANGALA IN BENGALURU [Yahoo! Finance]Yahoo! Finance
LEVI
Earnings
- 4/3/24 - Beat
LEVI
Sec Filings
- 5/3/24 - Form 4
- 5/2/24 - Form 144
- 5/2/24 - Form 144/A
- LEVI's page on the SEC website