From CNBC: 2024-04-03 16:17:30

Levi’s shifts focus to direct-to-consumer sales, now accounting for 48% of total sales, up from 42% last year. The move boosts profits but raises concerns about impact on wholesale partners like Macy’s and Kohl’s. Levi’s beats Wall Street estimates, with adjusted earnings per share of 26 cents and revenue of $1.56 billion.

In the first fiscal quarter, Levi’s reports a net loss of $10.6 million, down from a net income of $114.7 million in the previous year. Sales fell 8% to $1.56 billion due to a change in wholesale orders. Levi’s expects full-year sales to increase by 1-3% and adjusted earnings per share to be between $1.17 and $1.27.



Read more at CNBC:: Levi Strauss (LEVI) earnings Q1 2024