Retail

Levi Strauss & Co. (LEVI) reports Q2 2021 earnings beat

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Levi Strauss & Co. said Thursday that shoppers are stocking up on jeans in new sizes and styles in the U.S. and China as they emerge from their homes during the pandemic.

The momentum both in stores and online boosted its fiscal second-quarter earnings and revenue ahead of analysts’ expectations. Although sales were still down 3% from 2019, the retailer anticipates fiscal third-quarter sales are on track to top pre-pandemic levels. That was something Levi previously didn’t expect to achieve until the fourth quarter.

Levi’s stock jumped around 3% in extended trading on the news.

While Levi raised its revenue and profit outlook for the rest of the year, the company cautioned it assumes the…



Source cnbc.com

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