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☆ Macy's proxy fight is over, but the battle for the department store's future wages on
▼ + stars: | 2024-04-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Arkhouse then launched its proxy fight and put forward nine nominees to Macy's 15-person board. Turning the tideOther department store chains have faced challenges from activists in recent years, and even when those efforts fall short, the pressure can bring about sweeping changes. That includes Macy's locations with stronger sales as well as its two chains that have outperformed the namesake brand, higher-end department store chain Bloomingdale's and beauty chain Bluemercury. Arkhouse claims Macy's refused to engage with it, and Macy's rebuffed Arkhouse saying it didn't have the financing for the takeover it proposed. Arkhouse, for its part, has said it plans to keep Macy's stores open.

Persons: Bing Guan, Tony Spring, Arkhouse, Neil Saunders, Macy's, Michelle Gass, Levi Strauss, Chip Bergh, Ben Hider, —, GlobalData's Saunders, It'll, Gavriel Kahane, Kahane, it's Organizations: Macy's Inc, National Retail Federation, Bloomberg, Getty, Arkhouse Management, Capital Management, American, Brigade, Levi, Herald, Sears, CNBC, Macy's, Fortress Investment Group, One Investment Management Locations: Herald, New York, Macy's, New York City

☆ Cramer says the growing popularity of weight loss drugs brings new investing opportunities
▼ + stars: | 2023-12-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday said the increasing popularity of GLP-1 drugs — medications used to treat diabetes and obesity — has created some new investing opportunities. "Because if you really believe tons of people will take these weight loss medications, to the point where it'll have a transformational impact on the economy, well that's going to create lots of winners, too." Cramer said GLP-1 drugs can cause patients to lose muscle as well as fat, so doctors are encouraging them to consume more protein. Cramer said he also sees potential in the apparel space, with consumers likely to need new clothes to accommodate their weight loss. "When the market was ugly, everyone was worried about how much money the food companies would lose from these GLP-1 weight loss drugs," he said.

Persons: CNBC's Jim Cramer, Monday, —, Cramer, Wall, Eli Lilly, Tyson, GLP, Chip Bergh, we're Organizations: Novo Nordisk —, Tyson Foods, Jacobs

☆ Levi's CEO says he washes his jeans by wearing them into the shower — never in the washing machine
▼ + stars: | 2023-10-10 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +2 min

Levi Strauss CEO Chip Bergh once said that he completely keeps his jeans out of the washing machine. He recently told CNBC that if his jeans get "really gross" he washes them on his body in the shower. "What true denim heads, people that really love their denim, will tell you is to never put your denim into a washing machine. Levi Strauss & Co. CEO Chip Bergh isn't a fan of tossing his jeans in the washing machine. "Half of it is growing the cotton, and then the other half is the consumer throwing their jeans in the washing machine."

Persons: Levi Strauss, Chip Bergh, —, Bergh, I've, Levi Organizations: CNBC, Service

☆ Jim Cramer talks Levi's Q3 earnings with CEO Chip Bergh
▼ + stars: | 2023-10-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Jim Cramer talks Levi's Q3 earnings with CEO Chip BerghLevi Strauss CEO Chip Bergh joins 'Mad Money' host Jim Cramer to talk quarterly earnings, consumer trends, revenue guidance and more.

Persons: Jim Cramer, Chip Bergh Levi Strauss, Chip Bergh

☆ Levi's CEO says historically hot summer contributed to soft denim sales
▼ + stars: | 2023-10-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Levi Strauss CEO Chip Bergh told CNBC's Jim Cramer on Thursday that a historically hot summer affected his company's denim wholesale figures. 2023 saw the hottest summer on record, and Bergh said Levi's wholesale customers have a narrow assortment of the brand's products, so they weren't able to properly adapt to the weather changes. In its Thursday earnings report, Levi's cut its profit outlook for the rest of the year after a steep drop off in wholesale revenues. Bergh said Levi's is "cautiously optimistic" going into the holiday season, but emphasized that a tough economic macro environment has been impacting business. He said Levi's value businesses, largely sold in stores like Walmart and Target, were down this quarter.

Persons: Levi Strauss, Chip Bergh, CNBC's Jim Cramer, Bergh, jean, Levi's, We've, we've Organizations: Walmart, Target

☆ Levi Strauss cuts full-year sales forecast again, as inflation takes a toll
▼ + stars: | 2023-10-05 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

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. Those retailers, which buy wholesale items from Levi to carry on their stores and websites, have seen weaker discretionary sales. For Levi, direct sales and international sales have been the stronger parts of its business. Like Nike , Levi has tried to control its own destiny by driving more of its overall sales through its own stores and website. Along with driving more direct sales, Levi is looking to expand in international markets.

Persons: LEVI, Sean Gallup, Levi Strauss, Chip Bergh, Harmit Singh, Levi —, Levi, Bergh, Denizen, Michelle Gass, Chip Bergh Levi Strauss Organizations: Getty, U.S, CNBC, LSEG, Walmart, Target, Nike Locations: U.S, Target, Asia, America, North America, Europe, Mexico, India, Macy's

☆ Levi's CEO: About 40% of consumers had a waist size change coming out of the pandemic
▼ + stars: | 2023-10-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLevi's CEO: About 40% of consumers had a waist size change coming out of the pandemicLevi Strauss CEO Chip Bergh joins 'Mad Money' host Jim Cramer to talk quarterly earnings, consumer trends, revenue guidance and more.

Persons: Levi Strauss, Chip Bergh, Jim Cramer

☆ Levi's CEO fired more than half of his execs during his first 18 months in the role and regrets not letting go of some staff more quickly
▼ + stars: | 2023-09-27 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Bergh became CEO of Levi's in 2011 at a time when sales and brand loyalty were faltering. "The easiest way to change the culture is to change the people," Bergh told CNBC in an interview. Bergh became president and CEO of the company in 2011 when sales were faltering and brand loyalty was fading. Although he had a tough stance on firing, Bergh said that there were still times when he didn't act quickly enough to remove people who weren't the right fit. When asked about his biggest regrets, Bergh replied: "This is a corny saying and it gets said a lot, but probably not exiting people soon enough when I knew that there was something not right."

Persons: Charles Bergh, Bergh, —, Levi Strauss, Chip Bergh, CNBC's Christine Tan, Tan, " Bergh, it's, Michelle Gass Organizations: CNBC, Service

☆ Levi's 501 jeans are our 'No. 1 seller' in Asia, says CEO
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLevi's 501 jeans are our 'No. 1 seller' in Asia, says CEOChip Bergh, CEO of Levi Strauss, tells CNBC's Christine Tan what makes the Levi's 501 jeans iconic and how the brand is evolving to stay connected with Gen Z consumers.

Persons: Chip Bergh, Levi Strauss, Christine Tan Organizations: Gen Locations: Asia

☆ My biggest mistake was not firing the wrong people fast enough, says Levi Strauss CEO
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMy biggest mistake was not firing the wrong people fast enough, says Levi Strauss CEOChip Bergh, CEO of Levi Strauss, tells CNBC's Christine Tan that it's ultimately "a people game."

Persons: Levi Strauss, Chip Bergh, Christine Tan, it's

That has made it tricky to predict consumer spending. The swirl of confusing trends tees up a closely watched retail earnings season that could offer more clarity about consumers and the economy. As inflation cools, the growth of average hourly earnings has begun to outpace the rise in the consumer price index. He called low unemployment "the big offset that's helped consumer spending hang in." "I thought with all of the revenge travel that's been happening, that would impact consumer spending on goods," she said.

Persons: Aditya Bhave, that's, Andrew Garthwaite, That's, Levi Strauss, Chip Bergh, Michael Baker, Davidson, splurge, Baker, Taylor Swift, Davidson's Baker, Nikki Baird, she's, I'm, Corie Barry, headboards Organizations: Getty, Bank of America, Target, Walmart, JPMorgan, Wall, Federal Reserve, Credit Suisse, U.S, of Labor Statistics, CNBC, . Bureau, Labor, D.A, New York Federal Reserve, Federal Reserve Board Locations: Waterbury , Connecticut, U.S, Italy

☆ Here's what CEOs are saying about consumers this earnings season
▼ + stars: | 2023-08-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Consumers have more cash on hand now than before the pandemic, according to a July analysis from the JPMorgan Chase Institute. So, what do corporate earnings reveal about the health of the consumer? “The consumer is in good financial shape, particularly the premium consumer base that we target,” Ed Bastian, chief executive of Delta Air Lines (DAL), said last month. “Both the lower-income consumer and our higher-income consumers are showing really good strength,” said Brian Niccol, chief executive of Chipotle, during the company’s post-earnings call. “The macro effects of higher inflation and a slowing US economy have put increased pressure on the price-sensitive consumer,” said Chip Bergh, chief executive of Levi Strauss.

Persons: Taylor Swift’s, ” Ed Bastian, ”, Robert Jordan, “ We’re, Laxman Narasimhan, Chipotle, Brian Niccol, Levi Strauss, LEVI, Chip Bergh, “, Tarang Amin, Zachary Kirkhorn, Peter Valdes, Kirkhorn, Tesla, Elon Musk’s, Vaibhav, Read, Jennifer Korn, it’s, Google Organizations: CNN, JPMorgan Chase Institute, Airlines, Consumers, Delta Air Lines, DAL, Southwest Airlines, Papa Johns, Apparel, Tesla, Google Locations: United States, Pacific, Papa Johns ’ North, bitcoin

[1/2] The Levi Strauss & Co. label is seen on clothes in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Shares of the company fell about 6% in extended trading, as it joined peer American Eagle Outfitters (AEO.N) in predicting a weak outlook for consumer spending. Levi’s net revenues for the second quarter that ended May 28 declined by 9%, its steepest quarterly drop since the first quarter of 2021, according to Refinitiv data. The annual reported net revenue is expected to increase 1.5% to 2.5% from a year earlier, the apparel maker said, narrowing its previous forecast range of 1.5% to 3%. The apparel maker posted a net loss of $1.6 million for the second quarter, compared with a net income of $49.7 million a year earlier.

Persons: Levi Strauss, Andrew Kelly, Levi's, Chip Bergh, Bergh, Michael Ashley Schulman, Granth, Kate Masters, Shweta Agarwal, Muralikumar Organizations: Woodbury, REUTERS, American Eagle Outfitters, Nordstrom, Revenue, Running, Capital Advisors, Thomson Locations: Central Valley , New York, U.S, North America, Bergh, Levi's U.S, Europe, Americas, Bengaluru, New York

☆ Our China business is back, says Levi Strauss CEO Chip Bergh
▼ + stars: | 2023-07-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur China business is back, says Levi Strauss CEO Chip BerghLevi Strauss CEO Chip Bergh joins 'Mad Money' host Jim Cramer to talk the state of retail, consumer trends, and more.

Persons: Levi Strauss, Chip Bergh Levi Strauss, Chip Bergh, Jim Cramer Locations: China

☆ Levi's CEO calls Asia a 'bright spot' this quarter and is optimistic about business in China
▼ + stars: | 2023-07-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Levi's CEO Chip Bergh told CNBC's Jim Cramer he is optimistic about the company's business in Asia, especially China, where he business is ramping up as consumers return after Covid lockdowns. "Asia is a bright spot this quarter for sure, and that is definitely helped by China," Bergh said. However, according to Bergh, the company is optimistic about its international business, especially in China. "We are seeing the post-lockdown spending spree as consumers come back, and that is definitely lifting our business and contributing to the strength that we're seeing in China," Bergh said. "So we're very optimistic about China and about Asia overall, and yeah, we're putting our chips on the table in these markets that are really growing."

Persons: Chip Bergh, CNBC's Jim Cramer, Covid, Bergh, Levi's, Wall Locations: Asia, China, Bergh

☆ Levi Strauss slashes guidance as wholesale revenue drops
▼ + stars: | 2023-07-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Levi Strauss on Thursday drastically cut its profit outlook for the year after the apparel retailer reported a steep drop off in wholesale revenues and soft sales in the U.S., its largest market. During the quarter, Levi reported adjusted earnings of 4 cents per share. It now expects adjusted earnings per share of $1.10 to $1.20, compared to a previous range of $1.30 to $1.40. The retailer now expects sales to grow between 1.5% to 2.5% compared to a prior range of 1.5% to 3%. "Just in light of the recent performance, and the current macro headwinds, and just the consumer dynamics in this market."

Persons: Levi Strauss, jean, Levi, Harmit Singh, we're, Chip Bergh Organizations: Refinitiv, CNBC Locations: U.S, China

☆ Levi Strauss CEO Chip Bergh goes one-on-one with Jim Cramer
▼ + stars: | 2023-07-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Levi Strauss CEO Chip Bergh goes one-on-one with Jim CramerLevi Strauss CEO Chip Bergh joins 'Mad Money' host Jim Cramer to talk the state of retail, consumer trends, and more.

Persons: Levi Strauss, Chip Bergh, Jim Cramer Levi Strauss, Jim Cramer

☆ We're seeing a bifurcation between low-end and high-end consumers: Levi Strauss CEO
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're seeing a bifurcation between low-end and high-end consumers: Levi Strauss CEOChip Bergh, Levi Strauss CEO, joins 'Squawk on the Street' to discuss Bergh's outlook for consumer demand, why the company's stock have faced recent pressures and why the company maintained its guidance.

☆ Jim Cramer's top 10 things to watch in the stock market Monday
▼ + stars: | 2023-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Pioneer Natural Resources (PXD) is the biggest independent oil exploration and production (E & P) play. Club holding Constellation Brands (STZ) reported an excellent quarter last week and gave you an 11% dividend increase. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Levi's CEO Chip Bergh speaks with Jim Cramer on sales environment and most recent quarter
▼ + stars: | 2023-04-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Levi's CEO Chip Bergh speaks with Jim Cramer on sales environment and most recent quarterLevi's CEO Chip Bergh speaks with "Mad Money" host Jim Cramer about the denim company's most recent quarter.

☆ Skinny jeans still a great fit in shrinking economy, Levi CEO says
▼ + stars: | 2023-01-26 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/2] The Levi Strauss & Co. label is seen on jeans in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew KellyJan 26 (Reuters) - Reports on the death of skinny jeans have been greatly exaggerated. At least that's what Levi Strauss & Co (LEVI.N) boss Chip Bergh wants everyone to believe. Once a wardrobe staple, skinny jean has recently lost favor among shoppers, especially after the pandemic accelerated a shift toward comfortable clothing like baggy jeans among young consumers. "The skinny jean is not going anywhere anytime soon," Bergh said.

☆ Skinny jeans aren't dead. Actually, they're Levi's top seller.
▼ + stars: | 2023-01-26 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Skinny jeans were Levi's top seller during the fourth quarter, CEO Chip Bergh said. That's despite trend forecasters and Gen Z heralding the end of skinny jeans for nearly two years. "I've been known to say skinny jeans will never die." Stylists and trend forecasters have heralded the end of skinny jeans for the past two years. Still, he said: "The skinny jean is not going anywhere anytime soon."

☆ Levi Strauss beats estimates, offers upbeat guidance for fiscal year
▼ + stars: | 2023-01-25 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

Levi Strauss on Wednesday posted earnings and revenue that topped Wall Street's expectations. Shares of the company rose in after-hours trading as the company also offered upbeat sales guidance for its new fiscal year. Levi has been grappling with a slowdown in discretionary spending and a reduced demand for denim, leading some analysts to downgrade the stock. Europe will remain a strong focus for Levi in the coming fiscal quarter, Bergh said. Wall Street is estimating $6.27 billion in sales and $1.35 earnings per share.

☆ Michelle Gass' lengthy retail experience is why she'll be CEO at Levi Strauss, says current CEO
▼ + stars: | 2022-11-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMichelle Gass' lengthy retail experience is why she'll be CEO at Levi Strauss, says current CEOChip Bergh, current Levi Strauss CEO, joins 'Closing Bell' to discuss Michelle Gass leaving Kohl's and stepping into Levi Strauss, what he would tell investors about Gass's potential success at Levi Strauss and more.

☆ Kohl's CEO Gass to leave for top job at Levi Strauss
▼ + stars: | 2022-11-08 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - Kohl's Corp (KSS.N) Chief Executive Michelle Gass will step down and take the helm at Levi Strauss & Co (LEVI.N) amid renewed calls from activist investors for management and board reshuffles at the struggling department store chain. Gass came under renewed pressure from hedge funds Macellum Advisors and Ancora Holdings after Kohl's decided in July to remain independent after exploring a sale. The former Starbucks (SBUX.O) executive, who became Kohl's CEO in 2018, will leave in December to become president at Levi's early next year before taking over from long-time boss Chip Bergh within 18 months. At Levi's, Gass faces the challenge of helping the denim maker navigate out of an inflationary environment that has caused a slump in discretionary spending and hit earnings. Kohl's said Tom Kingsbury, a director nominated by Macellum and Ancora last year, will serve as interim CEO from Dec. 2.

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