From Dow Jones & Company:

Levi Strauss & Co. is launching new pants in 2024 to combat a rough 2023. These include lightweight denim, versatile women’s pants, and a “tech pant” for men with moisture control. The company also aims to expand Performance Cool pants to keep wearers cool. As Levi’s reduces costs, introduces new leadership, and focuses on e-commerce, analysts are waiting for signs of growth. The company plans to lay off 10-15% of its global corporate staff to save $100 million. Levi’s direct-to-consumer sales saw an 11% jump during the fourth quarter, with operating margins higher. Despite challenges, the company is looking to grow internationally and make its online and in-store sales a priority. Levi’s stock rebounded 1.3% on Friday but has decreased by 10.3% in the past year. Sales from retailers buying Levi’s products dropped by 2%, but the company is cautiously optimistic about its future.



Read more: Levi’s is moving into ‘tech pants’ and other new offerings this year