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Levi’s 501 blue jeans on display.
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Levi Strauss on Thursday cut its full-year sales forecast, as it missed Wall Street’s quarterly revenue expectations and was dragged down by weaker shopping trends at department stores and big-box retailers across the U.S.
Shares fell slightly in extended trading.
The company’s more cautious outlook comes just three months after it already slashed its full-year profit outlook. It said it now expects net revenues to be flat to up 1% year-over-year compared with a prior range of between 1.5% to 2.5% growth. It said it anticipates adjusted earnings per share to be on the low-end of the previously shared range of $1.10 to $1.20.
In an…
Source cnbc.com
