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Levi Strauss & Co. has higher expectations for this year, following strong revenue growth in the second quarter. The jeans brand is increasingly focusing on premium denim and higher-income consumers. A successful strategy, so it appears.
Focus on the premium segment
In the second quarter, which ended on May 31, Levi Strauss’s net revenue rose 8% to $1.56 billion (€1.45 billion). Since this exceeds expectations, the company is revising its full-year net revenue forecast to growth of 7.0 to 7.5%, up from the previous forecast of 5.5 to 6.5%. The denim brand also raised its adjusted earnings per share forecast to $1.46 to $1.52 (€1.35 to €1.41), up from the previous range of $1.42 to $1.48 (€1.31 to €1.37).
