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Levi Strauss Hikes Dividend as Second-Quarter Earnings Exceed Expectations

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Levi Strauss second quarter earnings topped analyst estimates.

The retailer did track mid-single-digit declines from a year ago at its two value denim brands, which sell at Target, Walmart and Amazon and make up a small percentage of the company's overall business, Bergh said.

Sales grew by 17% in the Americas, 3% in Europe and 16% in Asia compared to 2021. Levi's other brands, Dockers and Beyond Yoga, saw an increase of 56% compared to last year. For the quarter, the company reported a net income of $49.7 million, or 12 cents a share, compared $64.7 million, or 16 cents a share, in the year-ago period. On an adjusted basis, the company said it earned 29 cents a share in the most recent quarter, which was more than the 23 cents per share Wall Street expected.

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