Levi Strauss posted figures for Q1 2021 that came ahead of the consensus
The company had an adjusted EPS
of 34, while the market was looking for earnings of 25 cents. Revenues came in
at $1.31 billion, topping the $1.25 billion touted. On the other hand, its net
income was $142.5 million, lower than $152.7 million reported a year ago.
However, Levi’s stated that its sales could return to the pre-pandemic levels
by Q4.
In the future, Levi’s will open 40
new stores and 200 outlets across the US to increase its direct-to-consumer
services. Moreover, sales are expected to grow as much as 25%, while the EPS is
seen as 42 cents.
Following the news, Levi’s stock
went up more than 5%. Year-to-date, it gained 25%.
Source: cnbc.com
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