Wall Street has high hopes for Levi Strauss & Co. Levi’s, which posted third-quarter earnings results on Wednesday, back-pedaled on its full-year outlook, forecasting a 1 percent net revenue gain versus prior estimates of an increase between 1 percent to 3 percent.
Telsey Advisory Group’s chief investment officer Dana Telsey pointed out that the firm expects revenue and profitability acceleration in the fourth quarter, driven by the core Levi’s brand. Gross margin for the year is expected to expand 270 basis points, up from 180 basis points previously. She also views the challenges as a “near-term” issue, and maintained her “Outperform” rating on the company’s shares.
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