Levi Strauss & Co. Raises Full-Year Guidance Amid Strong Performance

Levi Strauss & Co. witnessed a remarkable 10% surge in its shares this Friday, following an optimistic revision of its full-year outlook. This adjustment comes on the heels of strong second-quarter results, signaling a robust turnaround for the iconic apparel maker.

Revised Forecasts Exceed Expectations

The company now anticipates a 1% to 2% increase in annual revenue, a significant uplift from its earlier prediction of a decline. Additionally, Levi has elevated its adjusted earnings forecast to between $1.25 and $1.30 per share, surpassing analysts' projections. Harmit Singh, the Chief Financial Officer, credited this optimistic revision to the company's stellar performance and its strategic shift towards direct-to-consumer sales.

Market Reaction

By 10:44 am ET, Levi Strauss shares had climbed 10% to $21.70, reflecting investor confidence in the company's revised outlook and future growth potential.