Nearly half of Levi's sales are happening online and in its shops, a shift as department stores fade
Publishing timestamp: 2024-04-04 09:59:16
Summary
Levi Strauss's direct-to-consumer business is booming, accounting for nearly 50% of revenue. The retailer beat Wall Street's earnings and revenue estimates, raised its full-year profit guidance, and is shifting away from wholesalers to focus on its own stores and website. Despite challenges in the retail industry, Levi's is optimistic about its future growth and brand recognition, with Beyoncé even naming a song after the company.
Sentiment: POSITIVE
Keywords: business news, breaking news: earnings, levi strauss & co, dividends, earnings, breaking news: business, kohls corp drn, retail industry, macy's inc, business,
Source: https://www.cnbc.com/2024/04/03/levi-strauss-levi-earnings-q1-2024.html