Levi's shares drop 15% after weakness in wholesale business sinks quarterly revenue
Levi Strauss & (LEVI) New York Post·2024-06-28 01:08
Levi Strauss’ shares tumbled more than 15% on Thursday after weakness in the denim maker’s wholesale business led to downbeat second-quarter revenue.Despite denim dominating the latest trends in fashion — including the resurgence of early 2000s jorts — the San Francisco-based company said wholesale revenue fell by a mid-single digit percentage in the quarter ended May 26.The company reporting revenue growth of 8%.“It was a good quarter but expectations were high with category tailwinds expected to drive str ...