{"id":32522,"date":"2023-07-07T04:54:30","date_gmt":"2023-07-07T08:54:30","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/levi-strauss-stock-falls-5-as-outlook-is-cut-following-inventory-issues\/"},"modified":"2023-07-07T04:54:32","modified_gmt":"2023-07-07T08:54:32","slug":"levi-strauss-stock-falls-5-as-outlook-is-cut-following-inventory-issues","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=32522","title":{"rendered":"Levi Strauss stock falls 5% as outlook is cut following inventory issues"},"content":{"rendered":"
\n

Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street earnings by a penny a share. <\/p>\n

Levi Strauss
\n LEVI,
\n +0.78%<\/bg-quote>
\n shares fell more than 7% after hours, following a 0.8% rise to close the regular session at $14.23. Shares are down 8.3% for the year while the S&P 500 index
\n SPX,
\n -0.79%<\/bg-quote>
\n is up 15%. <\/p>\n

\n

The company said it expects revenue to grow by 1.5% to 2.5% year over year, compared with a previous forecast of 1.5% to 3% growth, with adjusted earnings of $1.10 to $1.20 a share, down from the previous forecast of $1.30 to $1.40 a share. <\/p>\n

The outlook \u201calso assumes no significant worsening of macro-economic pressures on the consumer, inflationary pressures, supply-chain disruptions or currency impacts,\u201d the company said. <\/p>\n

Analysts, on average, were calling for $1.29 a share on revenue of $6.33 billion, or a 2.6% increase. <\/p>\n

Chief Financial Officer Harmit Singh told analysts on a conference call following earnings that peak inventory was behind the company, and that three \u201cfairly equal\u201d factors drove the cut in its outlook.<\/p>\n

\u201cFirst, a slightly lower revenue expectation and the resulting fixed-cost deleverage,\u201d Singh said. \u201cSecond, lower expected H2 gross margin, mainly due to our targeted pricing actions. And third, non-operating FX losses and a higher tax rate for the year in reported dollars.\u201d<\/p>\n

The company reported a second-quarter loss of $1.6 million, or break-even per share, compared with net income of $49.7 million, or 12 cents a share, in the year-ago period. <\/p>\n

Adjusted earnings, which exclude stock-based compensation costs and other items, were 4 cents a share, compared with 29 cents a share in the year-ago period. <\/p>\n

Revenue fell to $1.34 billion from $1.47 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast 3 cents a share on revenue of $1.34 billion.<\/p>\n

Not only have higher inflation and a slowing economy impacted Levi\u2019s wholesale business, inventory issues have restricted production, Chief Executive Chip Bergh told analysts on the call.<\/p>\n

Read from April:<\/strong> Levi\u2019s stock suffers worst day on record as earnings show inventory issues continuing<\/p>\n

\u201cAs we have mentioned for several quarters, our inventory backlog created supply-chain challenges in our U.S.\u00a0distribution centers, resulting in our inability to fulfill all demand,\u201d Bergh said.<\/p>\n

\u201cImportantly, we are not taking price reductions in U.S.\u00a0mainline full-price stores, nor the vast majority of our U.S.\u00a0wholesale assortment, including the\u00a0501\u00a0and women\u2019s fashion fits, which are all less price sensitive,\u201d he said. \u201cFinally, we are not taking any price reductions on our international businesses, where we continue to demonstrate strong pricing power as seen by the results.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street earnings by a penny a share. Levi Strauss LEVI, +0.78% shares fell more than 7% after hours, following a 0.8% rise to close the regular session at $14.23. Shares […]<\/p>\n","protected":false},"author":1,"featured_media":32523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-32522","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nLevi Strauss stock falls 5% as outlook is cut following inventory issues | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=32522\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Levi Strauss stock falls 5% as outlook is cut following inventory issues | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=32522\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-07T08:54:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-07T08:54:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1688720071_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=32522#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=32522\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Levi Strauss stock falls 5% as outlook is cut following inventory issues\",\"datePublished\":\"2023-07-07T08:54:30+00:00\",\"dateModified\":\"2023-07-07T08:54:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=32522\"},\"wordCount\":440,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=32522#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=32522\",\"url\":\"https:\/\/ifintechworld.com\/?p=32522\",\"name\":\"Levi Strauss stock falls 5% as outlook is cut following inventory issues | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-07-07T08:54:30+00:00\",\"dateModified\":\"2023-07-07T08:54:32+00:00\",\"description\":\"Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=32522#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=32522\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=32522#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Levi Strauss stock falls 5% as outlook is cut following inventory issues\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Levi Strauss stock falls 5% as outlook is cut following inventory issues | iFintechWorld","description":"Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=32522","og_locale":"en_US","og_type":"article","og_title":"Levi Strauss stock falls 5% as outlook is cut following inventory issues | iFintechWorld","og_description":"Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street","og_url":"https:\/\/ifintechworld.com\/?p=32522","og_site_name":"iFintechWorld","article_published_time":"2023-07-07T08:54:30+00:00","article_modified_time":"2023-07-07T08:54:32+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1688720071_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=32522#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=32522"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Levi Strauss stock falls 5% as outlook is cut following inventory issues","datePublished":"2023-07-07T08:54:30+00:00","dateModified":"2023-07-07T08:54:32+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=32522"},"wordCount":440,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=32522#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=32522","url":"https:\/\/ifintechworld.com\/?p=32522","name":"Levi Strauss stock falls 5% as outlook is cut following inventory issues | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-07-07T08:54:30+00:00","dateModified":"2023-07-07T08:54:32+00:00","description":"Levi Strauss & Co. shares fell in the extended session Thursday after the jeans maker cut its forecast for the year while topping the Wall Street","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=32522#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=32522"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=32522#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Levi Strauss stock falls 5% as outlook is cut following inventory issues"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/32522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32522"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/32522\/revisions"}],"predecessor-version":[{"id":32524,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/32522\/revisions\/32524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/32523"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}