Shares of Levi Strauss (NYSE: LEVI) elevated 3.55% in after-hours buying and selling Wednesday after the corporate posted robust earnings and a optimistic outlook, regardless of some financial headwinds.
Numbers: Levi Strauss reported earnings per share of 48 cents, which was higher than the expectation of 37 cents per share. Income shot up 41% to $1.5 billion, which was barely higher than analyst expectations.
Behind the Numbers: The clothes firm stated that each wholesale and direct-to-consumer income elevated within the quarter, nevertheless it was digital gross sales that actually pushed income up.
Feeling Good: Now, Levi Strauss is elevating its steerage and initiating a $200 million share buyback program.
What They’re Saying: President and CEO Chip Bergh stated that the success was achieved “regardless of a harder macro-environment than we anticipated,” largely due to “the dimensions and agility of our provide chain community.” Moreover, CFO Harmit Singh stated the corporate has “pricing energy to mitigate inflationary pressures.”
Closing Ideas: The corporate is financially secure, however can the inventory survive a market correction?
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