×
71 593
Fashion Jobs
NORDSTROM
Retail Stock - Middlesex Commons Rack
Permanent · Burlington
NORDSTROM
Asset Protection Agent - Menlo Park
Permanent · Edison
NORDSTROM
Technical Program Manager 1
Permanent · Seattle
NORDSTROM
Retail Stock - Mayfair Collection Rack
Permanent · Wauwatosa
MACY'S
Asset Protection Officer, Tulsa - Part Time (2840)
Permanent · Owasso
MACY'S
Asset Protection Detective, Fairlane Town Center - Full Time
Permanent · Dearborn
MACY'S
Asset Protection Detective, Maplewood - Full Time
Permanent · Maplewood
MACY'S
Beauty Account Coordinator
Permanent · New York
MACY'S
Asset Protection Detective, Lakeside - Standard Part Time
Permanent · Metairie
MACY'S
Asset Protection Detective, Westland - Full Time
Permanent · Hialeah
ATHLETA
General Manager - Atlantic Station
Permanent · Atlanta
ATHLETA
Assistant General Manager ne - Summit (The)
Permanent · Birmingham
SHISEIDO
Digital Marketing Manager
Permanent · Miami
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Columbus
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Southport
Permanent · Chicago
GILLY HICKS STORES
Gilly Hicks - Manager in Training, Easton Town Center
Permanent · Columbus
COTY
Coordinator, Sales Operations
Permanent · New York
FOOT LOCKER
Atmos Usa Manager in Training(Mit)
Permanent · Arlington
UNIQLO
Loss Prevention Supervisor - Great Mall, Milpitas ca
Permanent · Milpitas
OLD NAVY
Regional HR Manager - Southern California
Permanent · Los Angeles
OLD NAVY
Assistant Manager, Customer Operations - Poyner Place
Permanent · Raleigh
OLD NAVY
Assistant Manager, Customer Operations - Dierbergs-Edwards
Permanent · Edwardsville
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 2022 All rights reserved.