Economic news
Levi Strauss posts quarterly revenue miss, maintains annual forecasts
2024.06.26 16:41
(Reuters) -Levi Strauss fell short of market expectations for second-quarter revenue on Wednesday and maintained its annual forecast for profit and revenue, on choppy demand for its denim clothing in the United States.
Shares of the company, which have risen 39% so far this year, were down 11% in extended trading.
The company continues to expect fiscal 2024 revenue growth of 1% to 3%, while analysts on average expected growth of 2.79%, as per LSEG data.
The company reported second-quarter net revenue of $1.44 billion, compared with estimates of $1.45 billion.
