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Levi Strauss Reports Q3 Earnings Beat

Levi Strauss Reports Q3 Earnings Beat

Levi Strauss & Co. (NYSE: LEVI) shares were volatile in Tuesday's after-hours session after the apparel company reported a third-quarter earnings beat.

Earnings came in at 31 cents per share, beating estimates by 3 cents. Sales came in at $1.447 billion, beating estimates by $7 million.

The company affirmed its full-year guidance. 

“We delivered strong third-quarter results and remain on-track to achieve our full-year expectations,” President and CEO Chip Bergh said in a statement. 

"Our strategies to diversify to faster-growing, high-opportunity, high gross margin businesses continue to drive momentum, as we again grew revenues double-digits internationally, in our direct-to-consumer business, and in the women’s and tops categories. And our global wholesale business grew two percent in constant-currency, despite U.S. wholesale facing what we expect will be the toughest comparison of the year."

Levi shares were trading up 0.21% at $19 at the time of publication. The stock was down 4.1% at $18.96 in Tuesday's regular session. 

Q3 Highlights

  • Revenue growth of 4%
  • European sales grew 14% year-over-year
  • Global direct-to-consumer grew 10% year-over-year

Posted-In: Apparel Chip Bergh retailEarnings News Guidance After-Hours Center Best of Benzinga


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