levi strauss revenue rises in first post-ipo quarterly report
After returning to the public market last month, Levi Strauss & Co announced quarterly revenue growth of 7% on Tuesday, driven by the strategy of jeans manufacturers to invest in retail stores and online businesses.
Shares of the company rose nearly 3% to $22.
Expand trading 25.
Levi\'s has expanded from blue jeans featuring men\'s wear to women\'s T-
In order to cater to changing customer preferences and the rise of the \"sport\" pioneered by lulululemon athleinc, shirts and shirts
These efforts help Li Wei in double
Its women\'s and tops revenue has grown rapidly, while its largest men\'s jeans, pants and shorts business, including the iconic Docker khakis, has also grown by 6%.
However, the company insists on its complete
Projected growth in mid-term revenuesingle digits.
\"There are still a lot of downsides,\" said Chip Bergh, chief executive . \".
\"There will be more doors --
Close with big wholesale customers in USAS.
The EU, Britain\'s exit from the EU is still a problem, and China\'s tariffs are still a question mark.
\"Levi\'s has invested a lot of money in marketing by working with celebrities like Justin Timberlake and super model Haley Bieber, while increasing the number of retail stores and improving the website.
\"Whether it\'s physical stores or e-commerce, retail is serving us.
Business, \"said Bergh.
There are 70 companies in Levi.
At the end of the first quarter, there were more stores than in the same period last year.
Sales of Levi\'s direct-to-
Consumer business including the company
In the first quarter, its own stores and their online channels also increased by 10%.
Mr. Li said the company\'s net income was $146.
6 million, or 37 cents per share, compared with a loss of $19 million, or 5 cents per share, in the same period last year, when the company had a taxrelated charge.
Adjusted net income rose 81% to $0. 151 billion.
\"This is a good set of numbers based on robust strategy and growing brand affinity,\" said Neil Sanders, retail analyst at Global data . \".
Shares of the company soared more than 30% when they returned to the open market in March 21.