Levi's shares drop 10% as denim maker's sales disappoint
Levi Strauss & (LEVI) CNBC·2024-06-27 04:15
Denim is having a moment with consumers, but it hasn't led to a major sales boost at Levi Strauss. The jeans creator on Wednesday posted fiscal second quarter revenue that fell just short of Wall Street's expectations at a time when shoppers are stocking their wardrobes with denim dresses, skirts and ultra-low-rise baggy pants. Levi's posted better-than-expected earnings as its direct sales to consumers and cost cutting continue to bear fruit. The company raised its dividend by 8% to 13 cents per share, its ...