Updated version 1 - Levi Strauss raises annual profit forecast, boosted by tariff rebates and holiday season demand
路透社2026/10/07 20:51The second paragraph has been supplemented with Levi Strauss's stock performance, the fourth bullet point includes additional analyst comments, and the sixth bullet point incorporates updated earnings forecasts. Reuters, October 7 — Levi Strauss (LEVI.N) raised its annual profit forecast on Wednesday after benefiting from tariff rebates and betting that its premium jeans will see strong demand during the holiday season. The company’s shares dropped 1.3% in after-hours trading, reversing a brief 7% rise following the earnings release. Details are as follows: The apparel brand received a $79 million tariff rebate in the third quarter ended August 30 under the International Emergency Economic Powers Act, and plans to reinvest about $60 million of that amount in promotions this year. Direct-to-consumer comparable sales were flat in the third quarter. CEO Michelle Gass stated that sales in the US market declined due to heightened inflationary pressures faced by consumers, leading to a weaker-than-expected performance in this segment. However, the jeans maker’s women’s collection was a significant highlight, thanks to increased demand for loose-fitting jeans and a strategic expansion of the product line beyond jeans to tops, skirts, and dresses. Independent retail consultant Bruce Winder commented that direct-to-consumer business underperformed expectations this quarter, adding that high fuel prices continue to present challenges in the US market. Levi Strauss raised its forecast for full-year organic revenue growth to 6%, hitting the upper end of the previous 5.5%–6% range. The company increased its full-year adjusted earnings per share forecast from the prior range of $1.46–$1.52 to $1.54–$1.56. According to data compiled by LSEG, net revenue for the quarter ended August 30 grew by 4% to $1.61 billion, in line with the expected $1.62 billion. Adjusted earnings per share for the quarter were $0.48, compared with analysts’ prior forecast of approximately $0.36 per share.
Added stock price movement in paragraph 2, added analyst comments in key point 4, and added earnings forecast in key point 6
Reuters, October 7 - Levi Strauss (LEVI.N) raised its annual profit outlook on Wednesday, after the company benefited from tariff refunds and bet on strong demand for its premium jeans during the holiday season.
The company's shares fell 1.3% in after-hours trading, reversing a brief 7% gain following the earnings release.
Details are as follows:
The apparel brand received $79 million in tariff refunds under the International Emergency Economic Powers Act for the quarter ended August 30, and plans to reinvest about $60 million of that in promotions this year
Same-store sales of its direct-to-consumer business were flat in the third quarter. CEO Michelle Gass said U.S. market sales dropped as consumers faced higher inflationary pressures, leading the business to underperform expectations
However, the jeans maker's women's line was a highlight, thanks to demand for loose-fit jeans and a strategic expansion of its product line from jeans to tops, skirts, and dresses
Independent retail consultant Bruce Winder commented that the direct-to-consumer business underperformed this quarter, adding that persistently high fuel prices mean the U.S. market still faces challenges
Levi Strauss raised its full-year organic revenue growth outlook to 6%, reaching the high end of its earlier forecast range of 5.5% to 6%
The company raised its full-year adjusted earnings per share outlook to $1.54 to $1.56, up from its previous forecast of $1.46 to $1.52
According to data compiled by LSEG, net revenue for the quarter ended August 30 rose 4% to $1.61 billion, broadly in line with expectations of $1.62 billion
The company reported adjusted earnings per share of $0.48 for the quarter, compared with analyst expectations of about $0.36 per share
(To facilitate non-English speakers, Reuters has automated the translation of its reports into several other languages. Because automated translation may contain errors or may not include the required context, Reuters does not guarantee the accuracy of these texts and provides them only for the convenience of readers. Reuters accepts no responsibility for any damage or loss arising from the use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dan Ives reveals top tech stock picks for 2027! Nvidia, Microsoft, Apple, and three other stocks make the list, Tesla selected as “disruptive tech top pick”
Former Wedbush tech analyst Dan Ives released his top picks for the technology sector in 2027 on Wednesday, listing Nvidia, Microsoft, Palantir, Apple, and CrowdStrike as his five top technology choices.
US Midterm Elections Become a "Touchstone" for Defense Stocks: Trillion-Dollar Defense Budget Expansion Faces Congress Test
The U.S. midterm elections are becoming a crucial test of investors' sentiment towards the rapidly growing defense sector.
Samsung Electronics Q3 Profit Hits Another Record but Falls Slightly Short of Expectations; AI Memory Boom Drives Growth, Yet High Stock Prices and Cyclical Concerns Persist
Preliminary data released by Samsung Electronics on Thursday showed that its operating profit for the third quarter ending in September amounted to approximately KRW 107.4 trillion (about USD 80.1 billions), more than eight times higher than the same period last year, setting a new record mainly driven by demand for high-bandwidth memory (HBM).
