Levi Strauss CEO says warm weather in Europe dampened company traffic in Q3
LEVI•Levi Strauss CEO said warm weather in Europe dampened the company’s third-quarter traffic. Executives said U.S. back-to-school sales underdelivered, products outside denim bottoms drove half of Q3 top-line growth, and the company expects U.S. growth to return in Q4.
1. Q3 trends
Levi Strauss executives said warm weather in Europe dampened the company’s traffic in the third quarter. They also said U.S. back-to-school sales underdelivered because the company relied on loose styles.
2. Growth and outlook
Products outside denim bottoms drove half of the company’s top-line growth in Q3, led by tops. Executives said they expect U.S. growth to return in Q4, driven by improving direct-to-consumer trends.
