On Tuesday, the world’s largest manufacturer of jeans and casual wear, Levi Strauss, announced better than expected results of its 3rd financial quarter, which ended on August 23.<\/p>\n
The company reported the profits of $ 27 million, after the loss of $ 364 million in the second quarter, when Levi was forced to cut 15% of its staff.<\/p>\n
Levi’s the third quarter showed the significant improvements, although the figures are still far from last year, and the management still notes a decrease in store traffic.<\/p>\n
Levi reported earnings per share of $ 0.08, which is $ 0.30 more than analysts estimate a loss of $ 0.22 per share.<\/p>\n
Total revenue was $ 1.06 billion, which is 27% lower than last year, but higher than the analytical forecast of $ 822.24 million.<\/p>\n
The company said it had the positive cash flow this quarter, “reflecting the company’s focus on the financial discipline, cost control, cash and working capital.”<\/p>\n
Despite the lower revenue in the third quarter compared to the last year, Levi’s management was pleased with the current results, noting a 50% increase in digital sales, as the result, their share in the company’s total sales was about 24% – twice as much as a year earlier.<\/p>\n
Levi also noted the increase in the sales and the share of women’s goods, which today rose to 37% in total sales. The company stated that its long-term goal for the women’s category is 50% of the total sales.<\/p>\n
Levi’s management told the investors that it predicts the decline in the revenue in the fourth quarter by 14-15%, if the conditions of the pandemic do not worsen significantly, while analysts expect the average decline of 19.62%.<\/p>\n
The company’s forecast for earnings per share is from $ 0.14 to $ 0.16, which corresponds to the average estimates of the analysts.<\/p>\n","protected":false},"featured_media":123744,"menu_order":0,"template":"","newscat":[9],"newstag":[29401,26509,26508,28903,28901],"issues":[],"class_list":["post-123743","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-digital-sales","newstag-levi","newstag-levi-strauss","newstag-czyfrovi-prodazhi","newstag-czyfrove-prodazhy"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/123743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/123744"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=123743"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=123743"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=123743"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=123743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}