Retail

Levi’s (LEVI) reports Q1 2021 earnings

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An employee holds a shopping bag while ringing up a customer at the Levi Strauss & Co. flagship store in San Francisco, March 18, 2019.

David Paul Morris | Bloomberg | Getty Images

Levi Strauss & Co. on Thursday reported a double-digit sales decline for its fiscal first quarter, as ongoing store closures in Europe and lightened foot traffic in the U.S. due to the Covid pandemic weighed on results.

But the denim maker boosted its sales and profit outlook for the first half of the year, assuming the global health crisis doesn’t become worse from here. CFO Harmit Singh said in an interview with CNBC that the company is anticipating sales will return to 2019, pre-pandemic levels by the fourth…



Source cnbc.com

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