Reported about 1 year ago
Levi Strauss reported a second-quarter revenue miss due to fluctuating wholesale demand in the United States, resulting in a 14% drop in pre-market trading. The company also announced it would uphold its annual profit and revenue predictions despite challenges from foreign exchange rates and increased marketing expenses. Levi is refocusing on direct-to-consumer operations and more profitable products following last year's inventory surplus and subsequent lower wholesale demand. Despite challenges, the company saw resilient consumer activity, especially in denim sales, driven by full-price purchases in women's apparel.
Source: YAHOO