The denim retailer raised its earnings and sales guidance after reporting adjusted EPS of $0.28 and revenue of $1.56 billion.
Levi Strauss reported second-quarter adjusted earnings per share of $0.28, beating expectations of $0.24, while revenue rose to $1.56 billion, up from $1.45 billion a year earlier. The company now expects full-year adjusted EPS between $1.46 and $1.52, above the prior $1.42 to $1.48 range, and raised its sales growth outlook to 7%-7.5% from 5.5%-6.5%.
Net income for the quarter reached $87.3 million, or $0.22 per share, compared with $67 million, or $0.17 per share, in the same period last year. Analysts had anticipated revenue of $1.52 billion and EPS of $0.24, according to LSEG data.
Despite the positive results, Levi’s shares fell more than 5% in extended trading. The company attributed growth to higher prices and increased unit sales, with CEO Michelle Gass noting resilience among core consumers.