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Levi Strauss exceeds quarterly earnings estimates due to recovery in apparel demand – News


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July 9, 2021

Levi Strauss & Co outperformed Thursday’s quarterly earnings estimate because it benefited from elevated demand for denims, tops and jackets from clients who returned to their regular routine after COVID-19 vaccination.

Second-quarter internet gross sales elevated from $ 497.5 million within the year-ago quarter to $ 1.28 billion-Levi Strauss

Companions equivalent to American Eagle and Abercrombie & Fitch all present gross sales progress as clients abandon their pajamas and telecommuting out of doors clothes loungewear.

Levi additionally forecasts gross sales within the second half of 2021 to extend 28% to 29% year-over-year. We additionally forecast gross sales within the second half to exceed pre-pandemic ranges.

Second-quarter internet gross sales elevated from $ 497.5 million within the year-ago quarter to $ 1.28 billion.

Analysts anticipated a mean of $ 1.21 billion in income, in keeping with Refinitiv’s IBES knowledge.

© Thomson Reuters 2021 All rights reserved.

Levi Strauss exceeds quarterly earnings estimates because of restoration in attire demand

Source link Levi Strauss exceeds quarterly earnings estimates because of restoration in attire demand

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