Why Levi Strauss Stock Was Soaring Today [Yahoo! Finance]
Levi Strauss & Co Class A (LEVI)
Last levi strauss & co class a earnings: 4/7 04:15 pm
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Source: Yahoo! Finance
As of 10:21 a.m. ET, the stock was up 17.5% on the news. Levi hops over a low bar Levi Strauss said revenue in the quarter was down 8% to $1.56 billion, but that was slightly ahead of the consensus at $1.55 billion. Revenue was down in part due to one-time events including the shift of wholesale payments from Q1 to Q2 due to a new enterprise resource planning (ERP) implementation, which negatively impacted revenue by 6%. Adjusting for that and the exit of the Denizen business and Russia, revenue would have been flat in the quarter. Levi continues to shift its business to the direct-to-consumer (DTC) channel, which was up 7% globally in the quarter and 10% in the U.S. Wholesale revenue was down 9%, adjusting for the ERP implementation. The shift to DTC helped lift gross margin by 240 basis points, rising to 58.2% due to falling product cost and a favorable mix shift. It also reduced inventories by 14%. On the bottom line, adjusted earnings per share (EPS) fell from $0.34 t
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News
- Global Denim Jeans Market Outlook 2024-2029: Consumer Demand for Sustainable Fashion, Innovations in Denim Technology, Rise of DTC and E-commerce [Yahoo! Finance]Yahoo! Finance
- Levi Strauss & Co., Lyft, and SHOWTIME/MTV Entertainment Studios Announce New National Campaign To Close The Community College Student Voting Gap [Yahoo! Finance]Yahoo! Finance
- Highwire PR Announces Appointment of Two Independent Board Members [Yahoo! Finance]Yahoo! Finance
- 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