Levi Strauss beats estimates, offers upbeat guidance for fiscal year
Publishing timestamp: 2023-01-25 16:27:26
Summary
Levi Strauss posted earnings and revenue that beat Wall Street's expectations, and the company offered an upbeat sales outlook for the new fiscal year. The company saw a 2% drop in direct to consumer sales due to store closures in Russia, but digital sales were down 7% year-over-year. Levi plans to open around 100 stores across Europe and expects revenues between $6.3 billion and $6.4 billion for fiscal 2023. The company also announced that its CFO, Harmit Singh, will become the Chief Growth Officer, focusing on expanding the company's growth into direct-to-consumer, women's apparel, and other brands.
Sentiment: POSITIVE
Tickers: LEVI,
Keywords: breaking news: business, levi strauss & co, apparel retail, business news, earnings, breaking news: earnings, retail industry, business,
Source: https://www.cnbc.com/2023/01/25/levi-strauss-co-levi-q4-earnings-2022.html