Levi Strauss, a renowned Berkeley institution, reported $1.4 billion in net revenue for Q2, reflecting an 8% year-over-year growth. Despite this growth, the company missed its quarterly revenue estimates, leading to a 16% drop in its stock price. The company's direct-to-consumer (DTC) growth accelerated during the quarter, and wholesale performance also improved. Additionally, the rising popularity of Western wear has resulted in a doubling of sales for Levi's denim skirts. Levi Strauss executives noted that the trend of consumers opting for top-to-bottom denim looks is contributing to this boom.
Western wear is booming as consumers opt for top-to-bottom denim looks, Levi Strauss executives say. https://t.co/BsuVeocGGe
Levi & Strauss recorded $1.4 billion in net revenue for Q2, with earnings facing challenges from consumer denim interest. https://t.co/lW0A5B28Bg #ecommerce #retail #onlineretail #earnings #revenue
Western clothing craze means sales of Levi's denim skirts have doubled #retail https://t.co/nhvlPFVhFa
🇺🇸 Levi’s DTC growth speeds up in Q2 as wholesale improves https://t.co/CKUuHWRDoN
👖Levi Strauss, a Berkeley institution, takes a hit after missing quarterly revenue estimates. Despite 8% year-over-year revenue growth, the stock is down 16%. But with a solid balance sheet and a beloved brand, Levi's might be a buy on this dip. Rebel's Edge 🏴☠️ 1pm @jonnajarian… https://t.co/mLHQvhaKcc