Levi Revenue Beats Expectations as Denim Demand Holds Up
- Direct-to-consumer sales, Europe improvements boost results
- Inventory challenges persist with 58% jump in fourth quarter
Jeans for sale inside a Levi Strauss flagship store in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Levi Strauss & Co. reported quarterly revenue that exceeded expectations, suggesting fears of a denim slowdown were overblown amid strong momentum in the direct-to-consumer business and improving trends in Europe.
Revenue in the fiscal fourth quarter ended Nov. 27 was $1.59 billion, compared with the $1.57 billion average estimate of analysts surveyed by Bloomberg. Earnings of 34 cents a share, excluding some items, also exceeded analyst estimates.