– Levi Strauss shares dropped 4% after the apparel firm known for its denim jeans reported its fiscal fourth quarter results, and reaffirmed its annual revenue and per-share earnings guidance.
CFO Harmit Singh said the annual guidance reflects "a cautious outlook on the macro-environment." Otherwise, Levi Strauss beat expectations on the top and bottom lines, reporting earnings of 34 cents per share on revenue of $1.69 billion. Analysts polled by Refinitiv forecasted earnings of 32 cents per share on revenue of $1.62 billion.
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