×
104 993
Fashion Jobs
RALPH LAUREN
Associate, Asset Protection
Permanent · Charlotte
RALPH LAUREN
General Manager
Permanent · Lakewood
ADIDAS
Director, Trade Marketing
Permanent · Portland
ADIDAS
Manager Digital Account Acceleration
Permanent · Portland
ADIDAS
Technical Manager Development Apparel - Top Creator
Permanent · Los Angeles
NEW BALANCE
Head of Global Sports Marketing, Basketball
Permanent · Boston
BLOOMINGDALE'S
Outlet Keyholder Selling, Park Lane - Full Time
Permanent · Dallas
ESTÉE LAUDER
Business Manager - Frederick Malle - 37.5 Hrs - Neiman Marcus Northpark - Dallas, tx
Permanent · Dallas
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Marysville
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Concord
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Huber Heights
HOMEGOODS
Tucson - Distribution Center Accuracy Control Supervisor
Permanent · Tucson
HOMEGOODS
Loss Prevention Detective
Permanent · Cincinnati
HOMEGOODS
dc Loss Prevention Specialist
Permanent · Jefferson
MACY'S
Asset Protection Detective, San Francisco Union Square - Full Time
Permanent · San Francisco
MACY'S
Asset Protection Detective, Sherman Oaks Fashion Square - Full Time
Permanent · Los Angeles
MACY'S
Asset Protection Security Guard, Northridge Fashion Center - Part Time
Permanent · Los Angeles
MACY'S
Asset Protection Detective, Puente Hills - Part Time
Permanent · City of Industry
MACY'S
Asset Protection Detective, Beverly Center - Full Time
Permanent · Los Angeles
MACY'S
Asset Protection Captain, Roosevelt - Full Time
Permanent · Philadelphia
MACY'S
Asset Protection Detective, Christiana - Part Time
Permanent · Newark
NORDSTROM
Asset Protection - Security Ambassador - Galleria at Roseville
Permanent · Roseville
Advertisements
By
Reuters API
Published
Oct 7, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Levi Strauss beats quarterly revenue estimates as people refresh wardrobes

By
Reuters API
Published
Oct 7, 2021

Levi Strauss & Co on Wednesday beat third-quarter revenue and profit estimates, boosted by an uptick in demand for jeans from people refreshing their wardrobes as they returned to normal social life following easing pandemic restrictions.


Net revenue rose to $1.50 billion from $1.06 billion - Reuters


Shares of the jeans maker rose 2% in extended trading after the Dockers brand owner said its board had approved a $200 million share repurchase plan. The company has a market capitalization of $49.49 billion, according to Refinitiv data.

With schools and offices reopening and people even going on vacations, as cases of coronavirus infections trend down, many are splurging on new apparel.

Levi, which has been expanding at major retailers including Target Corp and Nordstrom Inc, has also benefited from a reopening of the economy in its European markets and investments in its direct-to-consumer business.

Analysts expect Levi to face less supply pressure than peers due to its minimal reliance on Vietnam, an apparel manufacturing hub that has seen several factories close due to COVID-19 outbreaks and lower usage of the congested West Coast port.

"We have taken pricing actions and believe we have pricing power to mitigate inflationary pressures," Chief Financial Officer Harmit Singh said in a statement.

Net revenue for the company rose to $1.50 billion from $1.06 billion in the third quarter ended Aug. 29. Analysts on average had expected $1.48 billion, according to IBES data from Refinitiv.

Excluding items, Levi earned 48 cents per share, beating estimates of 38 cents per share.

The company said it expects holiday-quarter net revenue growth of 20% to 21% from a year earlier, while analysts were expecting growth of 22%.

Levi also said it expects fourth-quarter earnings per share to be between 38 cents and 40 cents per share, compared with analysts average expectation of 40 cents per share.

© Thomson Reuters 2021 All rights reserved.