Retail

Levi’s (LEVI) reports Q4 2020 earnings, sales beat

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Levi’s clothes are seen on a store shelf in Miami, Florida.

Joe Raedle | Getty Images

Levi Strauss & Co. reported Wednesday its total holiday-quarter sales dropped 12%, marking an improvement from a more than 20% decline in the prior period, as weak shopper traffic at its stores was partially offset by double-digit growth online.

Shares were recently up more than 1% in after-hours trading after initially falling more than 4%.

Chief Executive Chip Bergh told CNBC that the results for the latest quarter topped the denim maker’s internal expectations, nearly meeting the “best-case scenario” that Levi laid out back when the Covid pandemic first started to hit the United States and disrupt many…



Source cnbc.com

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