Levi Strauss & Co. (LEVI) lowered its full-year sales guidance. The apparel company reported mixed third quarter results, with revenue coming in just shy of estimates. The company cited challenges in its wholesale channels like department stores and big box retailers for the weakness. However, Levi Strauss CFO Harmit Singh noted they saw growth in other areas like direct-to-consumer and e-commerce operations. Singh says the consumer has been 'resilient,' but U.S. consumers earnings between $50,000 and $100,000 are feeling some pressure. 'Consumers still shop and love brands they can trust,' Singh tells Yahoo Finance, adding: 'they love brands that offer consumer experience, they love brands that bring newness and relevance, and brands that offer price value.' While acknowledging missed expectations, the CFO said Levi's remains 'cautiously optimistic' that through new ideas and resilient consumer demand, the denim brand can get back to growth. Click here to watch the full interview with Levi Staruss CFO Harmit Singh on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.
) lowered its full-year sales guidance. The apparel company reported mixed third quarter results, with revenue coming in just shy of estimates. The company cited challenges in its wholesale channels like department stores and big box retailers for the weakness. However, Levi Strauss CFO Harmit Singh noted they saw growth in other areas like direct-to-consumer and e-commerce operations. Singh says the consumer has been"resilient," but U.S.
Bears like JPMorgan and bulls like Fundstrat remain split on what looms for markets in October, with some strategists eyeing a rebound in earnings.Popular Mobile Games You Must Play In 2023 America is now paying more in interest on its record $33 trillion debt than on national defense — here's who holds the IOUs
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Levi Strauss cuts annual forecasts as promotions, wholesale weakness weighGloomy consumer spending has hit retailers like Macy's and Nordstrom as high prices and borrowing rates squeeze budgets, denting demand for its denims bottoms, tops and cargo pants. Levi has struggled with declining sales at its overall wholesale business, particularly in North America, which has a higher exposure to the middle-income consumer. Its margins were also hit by price cuts on certain denim bottoms sold to wholesale retailers like Macy's and Nordstrom in a bid to boost sales among more price-sensitive shoppers.
Lire la suite »
Levi Strauss cuts annual forecasts as promotions, wholesale weakness weighExplore stories from Atlantic Canada.
Lire la suite »
Levi's cuts full-year sales guidance, Q3 revenue misses estimatesLevi Strauss & Co. (LEVI) reported third quarter adjusted earnings of $0.28 per share, slightly better than the $0.27 analysts had expected. Revenue, however, fell short, $1.51 billion compared to the $1.54 billion that was expected. The company also cut its full-year sales guidance, citing weakness in its wholesale channel. Yahoo Finance Live breaks down the apparel company's results. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Lire la suite »
Hot September jobs report, Levi's earnings, Tesla price cuts: The RundownThe September jobs report was released Friday morning showing 336,000 jobs were added last month, much more than the expected 170,000. It's the largest gain since January. The unemployment rate, however, remained unchanged at 3.8%. Levi Strauss (LEVI) had to cut its annual sales forecast a second time after missing sales estimates, citing a more cautious consumer and warmer weather. Tesla (TSLA) is cutting the price on their Model 3 and Model Y EVs, which will put further pressure on the company's margins. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Lire la suite »
Levi’s Shares Fall as Sales Weakness Sparks Downbeat Outlook(Bloomberg) -- Levi Strauss & Co. reported quarterly revenue that missed expectations as performance at retailers including department stores dragged down results, leading the company to cut its full-year sales outlook. Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpOzempic Is Making People Buy Less Food, Walmart SaysOnly an Equities Crash Can Rescue the Bond Market, Barclays SaysThe Moral Case for No Longer Engaging With Elon Musk’s XIt's Done. The Future
Lire la suite »
Codelco Loses CFO in Latest Blow to World’s Top Copper Miner - BNN BloombergCodelco is losing its chief financial officer in the latest setback to Chile’s state-owned copper behemoth, as slumping output erodes profit and pushes up debt levels.
Lire la suite »