Levi Strauss earnings beat as new denim styles drive sales growth, retailer raises outlook

Production facilities there have been hard hit by periodic shutdowns"Our supply chain really is a source of competitive advantage," Chief Executive Chip Bergh told CNBC. "We can move product around with a lot of agility. ... We've been running the business against different scenarios for the last 18 months."

Revenue rose 41% to $1.5 billion from $1.06 billion a year earlier. That slightly topped estimates of $1.48 billion.Wholesale revenue grew 45% year over year, driven by strong demand in the U.S. and Europe, the company said. Direct-to-consumer sales rose 34% from 2020 levels, and climbed 3% on a two-year basis, as more shoppers visited Levi's own brick-and-mortar stores for denim and lounge wear.

The lingering health crisis is still shuttering stores around the world. Levi said roughly 10% of its company-operated stores were closed during the latest quarter, primarily in Asia. Roughly 4% remain shut, it said.

Levi's are still around XD They're SO 80s! XD

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

UK stocks drop over 1% as inflation worries weigh; Tesco jumpsLondon's blue-chip stocks fell on Wednesday pressured by fears of higher inflation, while supermarket retailer Tesco topped the index on raising annual outlook and strong first-half results.
Источник: Reuters - 🏆 2. / 97 Прочитайте больше »

Constellation Brands earnings fall on Canopy Growth lossesConstellation Brands Inc. undefined said Wednesday its second-quarter earnings fell to $1.5 million, or a penny a share, from $512.1 million, or $2.62 a...
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

Dow aims to add $3 bln to core earnings by 2030 with new net-zero unitDow unveiled on Wednesday plans to boost its core earnings by $3 billion a year over the next decade, with investments that include building a new net-zero carbon emissions ethylene and derivatives facility in Alberta, Canada.
Источник: Reuters - 🏆 2. / 97 Прочитайте больше »