Levi Strauss shares plummet on weak wholesale business in Q2

Reported 9 months ago

Levi Strauss saw a nearly 16% drop in shares due to disappointing second-quarter revenue driven by weak U.S. wholesale business, despite a 12% increase in direct-to-consumer sales. The company attributed the performance to caution among retailers in restocking, leading to lower wholesale revenue and hindering overall growth. Challenges with the Dockers brand were also highlighted. Investors had high expectations, resulting in the stock decline even with a strong quarter. Levi's CEO change and industry comparisons were noted amidst a challenging retail environment.

Source: YAHOO

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