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Top related persons:
Levi Strauss - 5 Harmit Singh - 5 Levi - 3 Levi's - 2 Michelle Gass - 2 Chip Bergh - 2 it's - 1 that's - 1
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CNBC - 3 LSEG - 2 Walmart - 2 Target - 2 Woodbury - 1 Levi's - 1 Arkhouse Management - 1 Financial - 1

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☆ Levi Strauss shares surge 18% on raised profit guidance, holiday earnings beat
  + stars: | 2024-04-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +1 min
Shares of Levi Strauss surged 18% on Thursday after the retailer raised its full-year profit guidance and posted holiday earnings that beat expectations. Late Wednesday, Levi's announced its fiscal first quarter earnings and said it expects adjusted earnings per share for fiscal 2024 to be between $1.17 and $1.27, up from a previous range of $1.15 to $1.25. As part of the project, Levi's cut about 12% of its global workforce. It also exited its Denizen business, which comes at a lower margin, and has relied less on aggressive discounting to drive sales. It's also seeing record amounts of sales happening online and through its own shops instead of through department stores like Macy's and Kohl's , which come at a lower margin.
Persons: Levi Strauss, Levi's, it's, that's, It's, Harmit Singh Organizations: Woodbury Locations: Central Valley , New York, U.S
☆ Nearly half of Levi's sales are happening online and in its shops, a shift as department stores fade
  + stars: | 2024-04-03 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +7 min
Excluding one-time costs related to Levi's restructuring, the company reported earnings per share of 26 cents, ahead of Wall Street's estimates. The sales slump was primarily attributed to a shift in Levi's wholesale orders, which boosted profits by about $100 million in the year-ago period. For the last couple of years, Levi's has been moving away from wholesalers and doing more of its sales through its own stores and website. If Macy's store closures or other challenges to department stores affects Levi's business, she expects direct-to-consumer sales will offset those losses. During the quarter, sales of items like denim skirts, dresses and tops were up 19% in Levi's direct-to-consumer channel, said Gass.
Persons: Levi Strauss, Levi's, Macy's, Levi's —, Michelle Gass, Gass, Harmit Singh, Beyoncé, Carter, Post Malone Organizations: Levi's, LSEG, Arkhouse Management, CNBC Locations: U.S, Europe
☆ Levi Strauss cuts annual forecasts as promotions, wholesale weakness weigh
  + stars: | 2023-10-05 | by ( ) edition.cnn.com   time to read: +3 min
Levi Strauss & Co cut its annual forecasts for the second time on Thursday after missing third-quarter sales estimates, reeling from hefty promotions and falling demand at wholesale channels in North America. Levi has struggled with declining sales at its overall wholesale business, particularly in North America, which has a higher exposure to the middle-income consumer. This has impacted Levi’s sales at retail partners such as Walmart and Target, where prices of its Signature and Denizen lines start just below $30. Analysts have said Levi might have to increase promotions and cut prices if wholesale channel sales continue to worsen, which could pressure its margins further. Levi forecast revenue to be flat to up 1% in fiscal 2023, compared with prior estimate of 1.5% to 2.5% growth.
Persons: Levi Strauss, Nordstrom, Levi, Harmit Singh, “, ” Singh, Singh, ”, Michael Ashley Schulman, Schulman Organizations: Financial, Reuters, Walmart, Target, Running Locations: North America, Americas
☆ 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 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
☆ Stocks making the biggest moves premarket: Costco Wholesale, Richardson Electronics, FedEx and more
  + stars: | 2023-04-06 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
Check out the companies making headlines before the bell:Richardson Electronics – Shares rose about 0.7% after Richardson Electronics reported a smaller backlog in its third fiscal quarter than it did in the same quarter a year prior. Comparable sales growth was positive when excluded changes in gasoline prices and the impact of foreign exchange, however, with the fastest growth coming outside the United States. Net sales rose 0.5%. Pinterest – Shares rose 1.2% after Raymond James said it initiated coverage of Pinterest with an outperform rating. The firm said it expects steady user growth, as well as "double-digit long-term revenue growth" from product improvements.
☆ Stocks making the biggest moves midday: Costco, Bed Bath & Beyond, AMC, FedEx and more
  + stars: | 2023-04-06 | by ( Alex Harring | ) www.cnbc.com   time to read: +5 min
Costco — The wholesale retailer's shares dropped 2% after the company announced sales dipped 1.1% year over year in March. Bed Bath & Beyond — The stock tumbled 7% after the retailer proposed a stock split as it attempts to avoid bankruptcy. Analysts covering the stock welcomed the news, with Raymond James upgrading shares to outperform from market perform Thursday morning. Leslie's , Pool — Shares of pool company Leslie's popped 5.4%, while Pool gained 1%, after both names were upgraded by Loop Capital to buy from hold. Craig-Hallum downgraded the stock to hold from buy and Rosenblatt pulled its rating to neutral from buy following the guidance cut.
☆ Finance Chiefs, Facing Another Year of Persistent Inflation, Prioritize Cost Savings
  + stars: | 2023-02-10 | by ( Kristin Broughton | ) www.wsj.com   time to read: +6 min
Finance chiefs are pushing their companies to do more with less as they face another year of rising costs. Obviously, we’re dealing with a very unique environment right now with the unprecedented level of cost inflation. But we’re not in that environment right now. Ideally, we can grow as the demand environment hopefully normalizes. And that’s going to give us more optionality as we better understand our demand for AI over time.
☆ 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.
☆ How to be a smart holiday shopper
  + stars: | 2022-10-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +4 min
New York CNN Business —It’s only October, but holiday shopping promotions are here with retailers bringing out the Christmas trees, turning on the holiday music and dangling sales from now until January. Soon will come way-too-early Black Friday promotions weeks before the actual shopping holiday, then the December-long sales events and post-holiday clearance deals. Shopping smart may feel more challenging in this environment, but retail analysts and researchers have tips for deciding when and what to buy. Many major stores have extended their holiday price match policies to cover a longer time period. So make sure to be a smart shopper even after you buy.
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