Levi Strauss falls after weak US and Europe sales
LEVI•Levi Strauss shares fell 1.3% to $19.25 premarket after the company reported weaker-than-expected sales in the United States and Europe. The company raised its annual profit forecast on Wednesday after benefiting from tariff refunds.
1. Sales and outlook
BTIG said Europe direct-to-consumer sales were pressured by unusually warm weather, though trends improved as temperatures normalized and remained positive into the start of the fourth quarter. The brokerage said Levi Strauss continued to perform well in wholesale, e-commerce and denim market-share metrics, but its Back-to-School campaign was less effective than expected.
