Levi Strauss slumps on second-quarter revenue miss as wholesale business remains weak

FILE PHOTO: Levi Strauss & Co. store at the Woodbury Common Premium Outlets in Central Valley, New York

"It was a good quarter but expectations were high with category tailwinds expected to drive strong results," said Citi Research analyst Paul Lejuez, adding that the wholesale business is still holding the company back. Levi Strauss' median price-to-earnings multiple for the next 12 months, a common benchmark for valuing stocks, is 16.8, above the industry median of 14.2, according to LSEG data.

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Stocks close in the green, Micron, Levi Strauss earnings: Market Domination OvertimeAll three of the market averages (^GSPC, ^DJI, ^IXIC) closed Wednesday in the green, the Nasdaq Composite moving half of a percent higher after facing some...
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