Levi Strauss swings to profit in its first earnings release since IPO

Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world's biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month.

"Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off," said Chip Bergh, its president and CEO in a press release. Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years.

Jeans always grow in a depression.

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