Key Takeaways Levi Strauss saw international markets reach 60% of revenues in the first half of fiscal 2026.Mexico grew 15%, while Brazil, the Andes and Colombia posted double-digit growth in the quarter.Levi Strauss raised organic net revenue growth expectations to 5.5-6% for fiscal 2026. Levi Strauss & Co. (LEVI - Free Report) continues to gain traction in the international markets, strengthening its position as a global denim lifestyle brand. International markets represented approximately 60% of the company’s revenues in the first half of fiscal 2026, up from 57% a year ago. In the second quarter of fiscal 2026, international revenues increased 6% organically, led by double-digit growth in Asia and Latin America.
Asia remained a key growth engine, with second-quarter revenues increasing 12% organically. Growth was broad-based across direct-to-consumer (DTC) and wholesale channels, while the operating margin expanded 350 basis points to 15%. Turkey, Japan and India led growth across the region. Meanwhile, China showed early signs of recovery, supported by new leadership and improvements in product and execution, with management encouraged by a return to growth.
Latin America continued to build momentum. Mexico, Levi Strauss’ second-largest market globally, delivered 15% growth in the quarter. Across Latin America, Brazil, the Andes and Colombia posted double-digit growth. Management sees additional opportunities to build on this momentum through store openings, e-commerce and wholesale expansion.
Europe’s reported revenues increased 4%, while organic revenues declined 1% due entirely to the impacts of last year’s distribution-center transition. Underlying trends remained healthy, with DTC revenues increasing 7% and strength in Germany and the U.K. The completed European distribution-network remap is already supporting operational efficiency, distribution expense leverage and profitability. Management is encouraged by high-single-digit wholesale pre-order growth for the second half.
Levi Strauss’ expanding international footprint provides meaningful runway for future growth, particularly as several markets remain in the early stages of development. Management’s confidence is reflected in its raised fiscal 2026 outlook, with organic net revenues expected to increase 5.5-6% compared with the previous 4.5-5.5%. Higher DTC penetration, continued international expansion and broader lifestyle offerings are expected to support the company’s growth trajectory.
LEVI’s Price Performance, Valuation & EstimatesShares of Levi Strauss have gained 3.3% in the year-to-date period against the industry’s 13.4% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, LEVI trades at a trailing price-to-sales ratio of 1.18X, below the industry’s average of 1.63X. It has a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Levi Strauss’ fiscal 2026 earnings implies year-over-year growth of 14.9%, while the same for fiscal 2027 indicates an uptick of 11.3%. Estimates for fiscal 2026 and 2027 have been revised upward by 4 cents each over the past 60 days.
Image Source: Zacks Investment Research
Levi Strauss currently carries a Zacks Rank #3 (Hold).
Better-Ranked PicksFIGS, Inc. (FIGS - Free Report) is an apparel company focused on the healthcare industry. Its offerings include lab coats, jackets, footwear, bags, socks and other accessories used by healthcare professionals. The company carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for FIGS’s current financial-year earnings and sales suggests growth of 89.5% and 18.2%, respectively, from the year-ago actuals. FIGS delivered a trailing four-quarter average earnings surprise of 201.8%.
Boot Barn Holdings, Inc. (BOOT - Free Report) is the largest lifestyle retailer in the United States, specializing in western and work-related footwear, apparel and accessories. The company has a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Boot Barn’s current fiscal-year earnings and sales suggests growth of 22.6% and 15.7%, respectively, from the year-ago actuals. BOOT delivered a trailing four-quarter average earnings surprise of 11.4%.
American Eagle Outfitters Inc. (AEO - Free Report) is a specialty retailer of casual apparel, accessories and footwear. It carries a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for American Eagle's current fiscal-year earnings and sales suggests growth of 17.3% and 5.7%, respectively, from the year-ago actuals. AEO delivered a trailing four-quarter average earnings surprise of 48.5%.
Key Takeaways Levi Strauss' DTC revenues grew 8% organically, marking its 17th straight quarter of comparable sales growth.E-commerce revenues rose 17% organically, fueled by higher traffic, conversion, UPT and AUR.LEVI raised fiscal 2026 revenues and adjusted EPS guidance on stronger DTC execution and digital gains. Levi Strauss & Co. (LEVI - Free Report) is strengthening its direct-to-consumer (DTC) business as continued investments in retail execution, digital capabilities and customer engagement drive growth. During the second quarter of fiscal 2026, DTC revenues increased 8% organically, while comparable sales rose 6%, marking the company's 17th consecutive quarter of comparable sales growth. The DTC business accounted for 51% of total company revenues, reinforcing its role as Levi Strauss' primary growth engine.
Levi Strauss continued to build momentum across physical stores and digital channels. Management highlighted stronger retail execution, with improvements in key performance indicators such as units per transaction (UPT) and average unit retail (AUR). E-commerce revenues grew 17% organically, supported by higher traffic, improved conversion rates, higher UPT and AUR, and lower promotional activity. Despite growing nearly 60% over the past three years, e-commerce still represents only about 12% of total company revenues, providing significant runway for future expansion.
Customer engagement continued to improve during the quarter. Levi Strauss added approximately three million new loyalty members, taking its global membership base to nearly 50 million. The company is enhancing the program through more personalized experiences and greater use of customer data to deliver more relevant interactions, supporting stronger long-term relationships with consumers.
Alongside customer-facing initiatives, Levi Strauss is investing in infrastructure to support its DTC-first transformation. During the second quarter, the company completed the remapping of its European distribution network into an omnichannel model and consolidated e-commerce fulfillment into distribution centers in Germany and the United Kingdom. Management expects these initiatives, together with its ongoing global ERP rollout, to improve operational efficiency, inventory management and profitability while creating a stronger foundation for future growth.
The company's solid DTC execution is reflected in its improved outlook. Levi Strauss raised its fiscal 2026 reported revenue growth guidance to 7-7.5% from 5.5-6.5% previously and increased its organic revenue growth outlook to 5.5-6% from 4.5-5.5%. It raised adjusted EPS guidance to $1.46-$1.52 from $1.42-$1.48. The higher guidance underscores management's confidence that its DTC-first strategy and continued digital investments will support sustained growth and profitability.
LEVI’s Price Performance, Valuation & EstimatesShares of Levi Strauss have gained 11.8% in the year-to-date period compared with the industry’s 1.9% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, LEVI trades at a trailing price-to-sales ratio of 1.34X, below the industry’s average of 1.60X. It has a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Levi Strauss’ fiscal 2026 earnings implies year-over-year growth of 14.9%, while the same for fiscal 2027 indicates an uptick of 11.3%. Estimates for fiscal 2026 and 2027 have been revised upward by 4 cents each over the past 60 days.
Image Source: Zacks Investment Research
Levi Strauss currently carries a Zacks Rank #3 (Hold).
Key PicksFIGS, Inc. (FIGS - Free Report) is an apparel company focused on the healthcare industry. Its offerings include lab coats, jackets, footwear, bags, socks and other accessories used by healthcare professionals. The company carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for FIGS’ current financial-year earnings and sales suggests growth of 57.9% and 18.2%, respectively, from the year-ago actuals. FIGS delivered a trailing four-quarter average earnings surprise of 201.8%.
Boot Barn Holdings, Inc. (BOOT - Free Report) is the largest lifestyle retailer in the United States, specializing in western and work-related footwear, apparel and accessories. The company also holds a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Boot Barn’s current fiscal-year earnings and sales suggests growth of 22.6% and 15.7%, respectively, from the year-ago actuals. BOOT delivered a trailing four-quarter average earnings surprise of 11.4%.
The Gap, Inc. (GAP - Free Report) is a premier international specialty retailer offering a diverse range of clothing, accessories and personal care products. It also carries a Zacks Rank #2.
The Zacks Consensus Estimate for Gap’s current fiscal-year earnings and sales suggests growth of 9.9% and 1.1%, respectively, from the year-ago actuals. GAP delivered a trailing four-quarter average earnings surprise of 2%.
Levi Strauss & Co. has disclosed that an unauthorized third party accessed company files through a social engineering scam, according to the company’s Friday (Aug. 7) filing with the Securities and Exchange Commission.
The jeans and apparel company said in the filing that it recently detected that it “experienced a cybersecurity incident in which an unauthorized third party gained access to Company files through social engineering techniques that enabled unauthorized access to three employees’ Company-issued computers.”
Following its detection of the incident, Levi Strauss & Co. initiated response protocols, implemented containment measures, launched an investigation, engaged the services of third-party cybersecurity experts and notified affected parties and applicable regulators, according to the filing.
Based on preliminary findings from its investigation, Levi Strauss & Co. believes some corporate information was accessed and exfiltrated during the incident. The company said it believes that it terminated the unauthorized access, that no consumer data was impacted, and that the incident is unlikely to have a material impact on its business.
“The Company has not experienced any interruption in business operations as a result of the incident,” Levi Strauss & Co. said in the filing.
The Federal Bureau of Investigation (FBI) said in an April2024 public service announcement that cyber criminals were targeting individuals and businesses with social engineering techniques.
These techniques include impersonating employees to update employee login information and gain access to a company’s network; contacting a victim’s mobile carrier and convincing the carrier to transfer the victim’s mobile number to the cybercriminal’s device and then using that number to bypass multi-factor authentication; and posing as a trusted institution or as the employer’s VPN portal to solicit the victim’s information and login credentials, according to the announcement.
Google Threat Intelligence Group (GTIG) said in a Thursday (Aug. 6) blog post that several threat actors are targeting enterprise employees through voice phishing (vishing), often via the employees’ personal mobile devices, and posing as IT helpdesk staff facilitating what they say are mandatory, urgent security migrations.
The threat actors then lure victims to spoofed login portals, intercept the victims’ credentials and multi-factor authentication, and deploy automated scripts for data exfiltration from enterprise cloud environments.
Verizon said in May that social engineering played a role in 16% of the 22,000 confirmed data breaches across 145 countries that it analyzed in a recent report.
Aug 6, 2026; Santa Clara, CA, USA; A detail view of Levi’s Stadium signage during training camp at SAP Performance Facility. Mandatory Credit: Sergio Estrada-Imagn Images Purchase Licensing Rights, opens new tab
CompaniesAug 7 (Reuters) - Levi Strauss (LEVI.N), opens new tab on Friday disclosed a recent cybersecurity incident in which an unauthorized third party gained access to the company's systems through a social engineering attack targeting three employees.
The apparel maker joins a growing list of major firms worldwide that are facing a rise in cyberattacks and ransomware incidents that steal sensitive data and disrupt operations.
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Here are some more details:
Levi Strauss said in a regulatory filing, opens new tab that it has implemented containment measures and launched an investigation, the preliminary findings of which showed that certain corporate information was accessed and extracted.
The incident has not disrupted business operations and the company does not expect a material impact on its operations or financial results, it said.
Google and internet intelligence data reviewed by Reuters showed that ransom-seeking hackers who use phone calls to compromise victims targeted dozens of prominent U.S. financial institutions and other businesses over the past month. The data indicated cybercriminals created digital traps for more than 200 companies in the past five weeks, including Levi Strauss.
Levi's had raised its annual net sales forecast last month, betting that demand for its premium denim products would remain resilient among higher-income consumers.
Reporting by Neil J Kanatt in Bengaluru; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Doug Bergeron, a beneficial owner of 5.0% of the outstanding common stock of Ethan Allen Interiors Inc. (âEthan Allenâ or the âCompanyâ) (NYSE: ETD), to
Key Takeaways Levi Strauss raised fiscal 2026 revenue growth and adjusted EPS guidance after strong Q2 results.LEVI generated nearly 60% higher adjusted free cash flow and increased its quarterly dividend by 14%.Levi Strauss cited tariffs, foreign exchange and higher costs as key factors to watch going forward. Levi Strauss & Co. (LEVI - Free Report) has given investors more to consider after its recent rally, including stronger earnings, a higher fiscal 2026 outlook and improving cash generation.
The operating story has improved, but the stock’s valuation, tariff exposure and execution risks make the investment case less straightforward after the move.
LEVI Delivers a Broad Earnings BeatLevi Strauss reported adjusted earnings of 28 cents per share in the second quarter of fiscal 2026, beating the Zacks Consensus Estimate of 24 cents by 16.7%. The result also increased from 22 cents in the year-ago quarter.
Revenues rose 8% year over year to $1.56 billion and surpassed the consensus mark by 2.5%. Organic revenues advanced 5.7%, reflecting balanced growth across regions, channels and product categories.
Momentum was not concentrated in one area. DTC, wholesale, U.S. and international markets, women’s and men’s products, and tops and bottoms all contributed to the quarter’s performance.
Levi Strauss Raises Its Fiscal OutlookManagement raised fiscal 2026 reported revenue-growth guidance to 7%-7.5%, up from the prior 5.5%-6.5% view. Organic revenue growth is now expected at 5.5%-6%, compared with the earlier 4.5%-5.5% range.
Adjusted earnings per share guidance increased to $1.46-$1.52 from $1.42-$1.48. The updated outlook includes an estimated 4-cent headwind from a higher tax rate.
Levi Strauss also expects an adjusted EBIT margin of 12% for fiscal 2026. The company continues to plan 50-60 net new store openings during the year, with most planned for the second half.
LEVI Supports Returns With Cash FlowCash flow strengthens the shareholder-return story. Adjusted free cash flow increased nearly 60% year over year to roughly $231 million, helped by stronger earnings and disciplined inventory management.
Levi Strauss ended the quarter with $849.3 million in cash and cash equivalents and about $1.8 billion in total liquidity. Inventories declined 7% year over year.
The company increased its quarterly dividend 14% to 16 cents per share. It also had about $240 million remaining under its existing share-repurchase authorization.
Levi Strauss Faces a Fuller ValuationValuation is the main counterweight after the rally. LEVI shares have risen 17.4% in the past three months and 27.8% over the past year.
The stock trades at 15.45X forward 12-month earnings, above its five-year median of 13.26X and slightly ahead of the Zacks sub-industry’s 14.51X. It remains below the Zacks Retail-Wholesale sector’s 22.09X and the S&P 500’s 20.22X.
The $27 price target, based on 16.38X forward 12-month earnings, supports a balanced view. It suggests that Levi Strauss’ stronger operating progress may already be partly reflected in the shares.
American Eagle Outfitters, Inc. (AEO - Free Report) is a relevant apparel comparison because it operates American Eagle and Aerie as youth-focused lifestyle brands. Abercrombie & Fitch Co. (ANF - Free Report) also offers a useful comparison as a global omnichannel specialty retailer of apparel and accessories.
Image Source: Zacks Investment Research
LEVI’s Risk Factors Limit Near-Term UpsideTariffs and foreign exchange remain pressure points. Tariffs and currency already weighed on second-quarter gross margin, while management’s fiscal 2026 outlook assumes current tariff levels remain in place.
Foreign exchange is expected to create an approximately 70-basis-point gross-margin headwind in the third quarter. Higher taxes and currency are also projected to reduce earnings per share by 2-3 cents.
Expenses are another watch item. Reported SG&A increased to $843 million from $791 million a year earlier, while duplicate distribution costs tied to the U.S. distribution-network transition could persist until consolidation is completed. Expansion into more fashion-sensitive categories also raises execution risk.
LEVI’s Neutral Signal Favors PatienceThe bottom line is that Levi Strauss has a stronger fundamental profile, but the stock no longer looks as inexpensive after its rally. Earnings momentum, guidance and cash flow support investor interest, while valuation and cost risks argue against chasing the shares.
The stock currently carries a Zacks Rank #3 (Hold), which aligns with a balanced near-term investment case rather than a clear buying opportunity. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LEVI has a Value Score of B, a favorable composite style signal that combines value, growth and momentum characteristics.
Key Takeaways Levi Strauss grew e-commerce 17% organically as traffic, conversion and pricing improved digital sales.LEVI added nearly 3 million loyalty members, lifting global enrollment to almost 50 million.Levi Strauss is modernizing core systems to improve inventory visibility and support AI-driven operations. Levi Strauss & Co. (LEVI - Free Report) is reshaping its operating model through digital commerce, loyalty data, technology modernization and automation.
These initiatives support faster decision-making, better inventory visibility and more personalized consumer engagement. Over time, they could also strengthen margin potential as Levi Strauss expands its direct-to-consumer business.
LEVI Turns E-Commerce Into a Growth DriverLevi Strauss’ e-commerce business increased 17% organically in the second quarter of fiscal 2026. The gain was supported by stronger traffic, better conversion, higher units per transaction and average unit retail growth.
The quality of that growth is important. Levi Strauss reduced promotional activity on its site, indicating that digital momentum was not dependent on heavier discounting.
That gives the company a stronger base for profitable digital expansion. A more productive e-commerce channel can help LEVI control pricing, improve merchandising and deepen consumer data across owned channels.
Levi Strauss Builds a Data-Rich Consumer BaseLevi Strauss added nearly 3 million loyalty members in the quarter, bringing global enrollment to almost 50 million.
A larger first-party customer base can support more personalized communication, better product recommendations and stronger retention. It also gives Levi Strauss more direct insight into shopping behavior across stores and online channels.
This matters in a competitive apparel market. American Eagle Outfitters, Inc. (AEO - Free Report) sells men’s and women’s jeans, tops, bottoms, activewear and related apparel through its American Eagle platform, making it relevant to LEVI’s digital and denim-led strategy. Abercrombie & Fitch Co. (ANF - Free Report) is a global omnichannel specialty retailer of apparel and accessories, making it another useful comparison for lifestyle-brand execution.
LEVI Modernizes Its Global Technology PlatformLevi Strauss is upgrading its enterprise resource planning platform, a core system used to manage business data and operations. Asia and Beyond Yoga have migrated to the new platform, following North America.
Europe and the remaining Latin American markets are expected to move to the platform by mid-2027. Once completed, Levi Strauss should operate with a more unified global system.
That can reduce complexity across regions and channels. It can also improve reporting, planning and execution as the company grows across direct-to-consumer, wholesale and international markets.
Levi Strauss Lays the Groundwork for AIThe global enterprise resource planning platform is intended to improve inventory visibility and speed up decision-making. Those capabilities matter as Levi Strauss manages demand across product categories, stores, regions and digital channels.
Management also sees the platform as a foundation for broader artificial intelligence and automation initiatives. These tools can support faster allocation, improved inventory management and more efficient operations.
For a DTC-first retailer, better data is strategic. It can help Levi Strauss match inventory with demand, improve fulfillment and create more relevant consumer engagement.
LEVI Streamlines Its Distribution NetworkLevi Strauss completed its European omni-channel distribution-network transition, consolidating e-commerce fulfillment into distribution centers in Germany.
The company is also shifting its U.S. distribution network to Maersk. The goal is to improve service levels and eventually eliminate duplicated costs.
The transition is not without friction. The U.S. process has taken longer than originally planned, requiring parallel operations and duplicate expenses until consolidation is completed.
Image Source: Zacks Investment Research
LEVI’s Trend Exposure Carries Mixed SignalsThe bottom line is that digital growth, loyalty data, enterprise resource planning modernization and automation are becoming central to Levi Strauss’ next phase. These investments can support a faster, more responsive and more profitable operating model over time.
The stock currently carries a Zacks Rank #3 (Hold), which points to a balanced near-term setup. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
LEVI’s Value Score of B is a favorable composite signal across value, growth and momentum characteristics, but the company still needs to turn technology and digital progress into durable earnings gains.
Key Takeaways Levi Strauss generated 51% of quarterly revenue from DTC, with organic DTC sales up 8% in Q2.LEVI grew e-commerce 17% organically as higher traffic, conversion and pricing boosted digital sales.Levi Strauss expanded beyond denim as women's apparel, shorts and tops contributed to growth. Levi Strauss & Co. (LEVI - Free Report) is reshaping its business from a denim-bottoms specialist into a broader direct-to-consumer lifestyle company.
The shift is built around stronger digital engagement, wider product categories and international expansion. Together, those priorities could support higher-quality revenue by giving Levi Strauss more direct control over pricing, merchandising and customer relationships.
LEVI’s DTC Engine Gains ScaleLevi Strauss’ direct-to-consumer channel remains central to its growth plan. Organic DTC revenues rose 8% in the second quarter of fiscal 2026, while comparable sales increased 6%.
The channel accounted for 51% of quarterly revenues, showing how much the business has moved toward owned retail and digital channels. That mix gives Levi Strauss better visibility into consumer behavior and more control over the brand experience.
The quality of that growth also matters. Higher store productivity helped lift results, while reduced online promotions supported average unit retail and made the digital sales gain more durable.
Levi Strauss Finds More Digital RunwayE-commerce increased 17% organically in the quarter, supported by higher traffic, better conversion, higher units per transaction and average unit retail growth.
Digital commerce has grown nearly 60% over the past three years. Even after that expansion, it still represents only about 12% of total revenues.
That leaves Levi Strauss with room to deepen penetration as its DTC-first model matures. For a global apparel brand, a larger digital base can improve personalization, repeat purchasing and margin potential over time.
LEVI Broadens Its Lifestyle PortfolioLevi Strauss is also expanding its addressable market by selling more than denim bottoms. Categories outside traditional denim bottoms generated roughly one-third of quarterly revenue growth.
Women’s apparel rose 11%, shorts increased 11% and tops advanced 5% on a reported basis. Seasonal products also performed well, including white denim, which surged 70%.
The premium Blue Tab collection adds another growth layer. It is helping Levi Strauss reach new consumers and gain traction in a premium segment where the company remains underpenetrated.
American Eagle Outfitters, Inc. (AEO - Free Report) is a relevant comparison because it operates in specialty apparel through the American Eagle and Aerie brands, with youth-focused lifestyle positioning. Abercrombie & Fitch Co. (ANF - Free Report) is another useful peer because it is a global omnichannel specialty retailer of apparel and accessories across multiple brands.
Levi Strauss Expands Its Global ReachInternational growth gives Levi Strauss another runway. Asia increased 12% organically in the second quarter, while Mexico, the company’s second-largest market globally, grew 15%.
Parts of Latin America also delivered double-digit gains, including Brazil, Colombia and the Andes region. These results show that Levi Strauss is not relying only on the U.S. market for growth.
The company has several levers abroad. Store openings, e-commerce expansion and wholesale distribution can each help Levi Strauss build scale in markets that are still early in their growth cycle.
Image Source: Zacks Investment Research
LEVI’s Growth Case Meets a Neutral SignalThe bottom line is that Levi Strauss is making visible progress toward a faster-growing lifestyle model. DTC scale, digital momentum, broader assortments and international growth all support a stronger long-term revenue profile.
The stock currently carries a Zacks Rank #3 (Hold), which points to a balanced near-term setup rather than a clear buying opportunity. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Value Score of B is a favorable composite style signal, suggesting that LEVI has constructive combined value, growth and momentum characteristics. That does not remove the need for execution. Levi Strauss still has to convert its strategic progress into sustained earnings growth while managing costs, tariffs and competitive pressure.
Levi Strauss is poised for continued outperformance, driven by robust sales momentum and a compelling valuation. LEVI's Q2 beat-and-raise, fueled by accelerated marketing and strong comparable sales growth, underpins my reiterated buy rating. The company's focus on its core brand, high-teens growth in value-oriented segments, and ~60% gross margins support a bullish thesis.
Allspring Global Investments Holdings LLC increased its stake in Levi Strauss & Co. (NYSE:LEVI – Free Report) by 12.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,325,256 shares of the blue-jean maker’s stock after buying an additional 148,067 shares during the period. Allspring Global Investments Holdings LLC owned 0.34% of Levi Strauss & Co. worth $25,180,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEVI. Vanguard Group Inc. boosted its stake in Levi Strauss & Co. by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,320,747 shares of the blue-jean maker’s stock worth $193,312,000 after purchasing an additional 342,009 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Levi Strauss & Co. by 462.4% during the first quarter. Bank of New York Mellon Corp now owns 4,839,861 shares of the blue-jean maker’s stock valued at $89,489,000 after buying an additional 3,979,223 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Levi Strauss & Co. by 44.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,243,680 shares of the blue-jean maker’s stock valued at $88,014,000 after acquiring an additional 1,296,474 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Levi Strauss & Co. by 9.3% during the third quarter. Balyasny Asset Management L.P. now owns 3,457,702 shares of the blue-jean maker’s stock valued at $80,564,000 after acquiring an additional 294,053 shares in the last quarter. Finally, GW&K Investment Management LLC raised its holdings in Levi Strauss & Co. by 31.5% in the 4th quarter. GW&K Investment Management LLC now owns 2,219,599 shares of the blue-jean maker’s stock worth $46,034,000 after acquiring an additional 531,963 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.
Insider Buying and Selling at Levi Strauss & Co. In other news, major shareholder Margaret E. Haas sold 47,721 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.01, for a total transaction of $1,145,781.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.01, for a total transaction of $3,497,344.62. Following the completion of the transaction, the insider owned 145,662 shares in the company, valued at $3,497,344.62. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,236,803 shares of company stock worth $28,742,192 in the last three months. 1.08% of the stock is currently owned by company insiders.
Levi Strauss & Co. Price Performance Shares of LEVI opened at $23.98 on Tuesday. The firm has a market cap of $9.23 billion, a PE ratio of 14.81, a P/E/G ratio of 1.61 and a beta of 1.33. The company has a current ratio of 1.60, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $23.33 and a two-hundred day simple moving average of $21.78. Levi Strauss & Co. has a 1-year low of $17.72 and a 1-year high of $25.58.
Levi Strauss & Co. (NYSE:LEVI – Get Free Report) last released its quarterly earnings results on Wednesday, July 8th. The blue-jean maker reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Levi Strauss & Co. had a return on equity of 25.79% and a net margin of 9.66%.The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. Levi Strauss & Co. has set its FY 2026 guidance at 1.460-1.520 EPS. On average, equities analysts anticipate that Levi Strauss & Co. will post 1.54 EPS for the current year.
Levi Strauss & Co. Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 22nd will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Levi Strauss & Co.’s previous quarterly dividend of $0.14. Levi Strauss & Co.’s dividend payout ratio is presently 34.57%.
Wall Street Analysts Forecast Growth LEVI has been the topic of several analyst reports. Raymond James Financial upped their price objective on Levi Strauss & Co. from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. UBS Group reissued a “buy” rating and issued a $34.00 target price on shares of Levi Strauss & Co. in a report on Thursday, July 9th. Barclays boosted their price target on Levi Strauss & Co. from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Wall Street Zen raised Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Levi Strauss & Co. in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Levi Strauss & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $27.46.
View Our Latest Stock Analysis on Levi Strauss & Co.
About Levi Strauss & Co. (Free Report)
Levi Strauss & Co is a global apparel company best known for its denim jeans and casual wear. Founded in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the company pioneered the modern blue jean with the introduction of rivet-reinforced work pants. Over its more than 160-year history, Levi Strauss has evolved into a lifestyle brand, offering a broad portfolio that includes denim for men, women and children, as well as tops, outerwear, footwear and accessories.
The company’s flagship label, Levi’s®, is recognized worldwide for its iconic styles such as the 501® Original Fit Jeans, while additional brands, including Dockers®, Target core metric, and Denizen® by Levi’s, cater to diverse price points and consumer segments.
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On Thursday, July 16, during the broadcast of Mad Money , Jim Cramer pushed back on the market's punishment of several blue-chip companies that just posted strong quarters.
SummaryIn this article series, I summarize dividend announcements of the past week. Eight dividend growth stocks announced increases, with PNC delivering the largest raise of 17.6%.MRSH stands out for high quality and a safe 37% payout ratio, while the stock trades 11% below fair value.FAST extended its 28-year dividend growth streak with an 8.3% increase but trades at a 13% premium to fair value.EPD and LEVI offer high yields and growth but have concerning payout and safety metrics, warranting caution. Jonathan Kitchen/DigitalVision via Getty Images
I monitor dividend announcements for 700+ dividend growth stocks in my database and report on them in this weekly article series.
Celebrating increases for the stocks I own is satisfying, but a dividend increase carries
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Why Levi's Digital Strategy Is Paying Off in a Big WayLevi Strauss & Co. NYSE: LEVI reported stronger-than-expected fiscal second-quarter results and raised its full-year outlook, citing broad-based growth across channels, geographies, genders and product categories.
President and CEO Michelle Gass said the quarter showed that the company’s strategy to become a “DTC-first lifestyle company” is gaining traction. On an organic basis, net revenue rose 6% in the quarter, with direct-to-consumer revenue up 8% and comparable sales up 6%. Gass said the quarter marked the company’s 17th consecutive quarter of comparable sales growth.
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Levi Strauss Gains as DTC Continues to Fuel Revenue Growth“Quarter after quarter, our results demonstrate that our strategies are working and momentum is building,” Gass said.
Revenue Growth Led by DTC, Asia and Women’s The company said international markets continued to show momentum, with Asia revenue up 12% and the U.S. up 6%. Global wholesale increased 3%, led by strength in the U.S. wholesale channel.
Calvin Klein's Parent May Be the Market's Best BargainWomen’s remained a standout category, with revenue up 11% in the quarter. Gass said Levi’s gained market share in both men’s and women’s bottoms, supported by brand strength, marketing and product innovation.
Gass said the company’s push beyond denim bottoms contributed roughly one-third of top-line growth in the quarter. Bottoms revenue increased 6%, while tops were up 5%, or 7% excluding the impact of last year’s European distribution center transition. Shorts rose 11%, and white denim in women’s grew 70%.
The company highlighted continued demand for looser silhouettes, including the 501 ’90s for women and 501 Loose for men, while noting that core fits such as skinny, slim, boot cut and straight still make up the majority of the bottoms business.
Margins Improve Despite Tariff and Currency Pressure Chief Financial and Growth Officer Harmit Singh said reported net revenue increased 8%, while organic revenue rose 6%, despite a two-point drag tied to last year’s European distribution center transition. Gross margin expanded 10 basis points to 62.7%, helped by lower product costs and pricing actions, while tariffs and foreign exchange were headwinds.
Adjusted SG&A increased 6.5%, primarily due to higher selling expenses and unfavorable foreign exchange, but leveraged 80 basis points as a percentage of revenue. Adjusted EBIT margin expanded 70 basis points to 9%, while adjusted EBIT dollars grew 18%. Adjusted diluted earnings per share were $0.28, up 27% from a year earlier and ahead of guidance.
Inventory ended the quarter down 7%, and adjusted free cash flow increased nearly 60% year over year to $231 million. Singh said the company is increasing its third-quarter dividend by $0.02 to $0.16 per share.
Full-Year Outlook Raised for Second Consecutive Quarter Levi Strauss raised its fiscal 2026 outlook, with Singh saying the company is “passing the entire Q2 beat” into full-year guidance. The company now expects reported net revenue to increase 7% to 7.5% and organic net revenue to rise 5.5% to 6%.
The company raised its adjusted diluted EPS outlook to a range of approximately $1.46 to $1.52, up from its prior range of $1.42 to $1.48. Gross margin is expected to expand approximately 10 basis points for the full year, while adjusted EBIT margin is expected to be 12%.
The guidance assumes incremental U.S. tariffs of 30% on imports from China and 20% on imports from the rest of the world. Singh said the guidance does not include any potential benefit from tariff refunds, which total approximately $80 million paid to date.
For the third quarter, the company expects reported and organic net revenue to increase 4% to 5%, with adjusted diluted EPS of approximately $0.34 to $0.36.
Regional Performance and Infrastructure Updates By segment, the Americas delivered 7% growth, with the U.S. up 5% on momentum in both DTC and wholesale. Europe declined 1% in the quarter due to last year’s distribution center transition, but first-half revenue grew mid-single digits. Singh said Europe’s DTC business grew 7%, and the company is encouraged by high single-digit wholesale pre-order growth for the second half.
Asia revenue increased 12%, with double-digit growth in both DTC and wholesale. Singh said performance was strong across markets, and Gass noted progress in China under new leadership.
The company also provided updates on operational initiatives. Singh said Levi Strauss completed the remap of Europe to an omnichannel distribution network, consolidating e-commerce fulfillment into distribution centers in Germany and the U.K. In the U.S., the company remains on track to transition its Hebron distribution center to Maersk by the beginning of the fourth quarter.
Levi Strauss also migrated Asia and Beyond Yoga onto its new global ERP platform, following North America. Europe and the remaining Latin American countries are expected to move to the platform by mid-2027. Singh said the ERP system is intended to unlock better data access, faster decision-making and the ability to scale AI and automation.
Management Cites Brand Momentum and Consumer Resilience During the call, Gass emphasized marketing initiatives including the company’s “Behind Every Original” campaign and collaborations tied to music, sports and fashion. She also discussed the company’s soccer-related product collaborations and a viral marketing moment involving Levi’s Stadium, which she said generated approximately 1 billion press impressions.
Beyond Yoga revenue rose 16%, led by e-commerce. Gass said the brand is expanding beyond traditional activewear into lifestyle categories such as casual pants, travelwear, linen, tops, sweaters and dresses. She said the company has fewer than 20 Beyond Yoga stores and is still learning from that format.
In response to analyst questions, management said the consumer remains resilient across value, core and premium price points. Signature, the company’s value-focused brand, grew at a low single-digit rate in the quarter and 9% in the first half. Gass said the company expects Signature to accelerate in the second half.
Singh said two-thirds of second-quarter revenue growth came from units and one-third from average unit retail, with the company expecting a more balanced contribution for the full year. He cited full-price selling, DTC growth, premium offerings such as Blue Tab and women’s category expansion as factors supporting average unit retail growth.
Gass said the company remains optimistic about the denim category and its broader move into head-to-toe denim lifestyle offerings. “We have more ways to win than we’ve ever had,” she said.
About Levi Strauss & Co. NYSE: LEVILevi Strauss & Co is a global apparel company best known for its denim jeans and casual wear. Founded in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the company pioneered the modern blue jean with the introduction of rivet-reinforced work pants. Over its more than 160-year history, Levi Strauss has evolved into a lifestyle brand, offering a broad portfolio that includes denim for men, women and children, as well as tops, outerwear, footwear and accessories.
The company's flagship label, Levi's®, is recognized worldwide for its iconic styles such as the 501® Original Fit Jeans, while additional brands, including Dockers®, Target core metric, and Denizen® by Levi's, cater to diverse price points and consumer segments.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Key Takeaways Levi Strauss exceeded Q2 earnings and revenue estimates and raised its fiscal 2026 outlook.LEVI grew DTC revenues 11%, with e-commerce up 19% and broad-based international momentum.Levi Strauss expanded adjusted EBIT margin, reduced inventories 7% and increased its dividend 14%. Levi Strauss & Co. (LEVI - Free Report) reported strong second-quarter fiscal 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The denim apparel maker continued to benefit from healthy consumer demand, robust Direct-to-Consumer (DTC) momentum, broad-based international growth and improving profitability. Management raised its fiscal 2026 revenue and earnings outlook.
The global denim leader reported adjusted earnings of 28 cents per share, which beat the Zacks Consensus Estimate of 24 cents by 16.7%. The bottom line also increased 27.3% from the 22 cents reported in the year-ago quarter.
Quarterly net revenues increased 8% year over year to $1.56 billion, surpassing the Zacks Consensus Estimate of $1.52 billion by 2.5%. Organic revenues advanced 5.7%, reflecting balanced growth across regions, channels and product categories.
Despite the earnings beat and higher full-year guidance, LEVI shares declined 5.5% following the earnings release. While management reaffirmed confidence in the business and highlighted broad-based growth, the company also noted that tariff and foreign exchange pressures remained headwinds and were embedded in its updated fiscal 2026 outlook.
LEVI's Quarterly Performance: Key Metrics & InsightsLevi Strauss' DTC business remained the primary growth engine during the quarter. DTC revenues increased 10.8% on a reported basis and 8.4% organically, benefiting from higher store productivity and strong digital momentum. E-commerce revenues climbed 19% on a reported basis and 17% organically, while DTC comparable sales advanced 6%. The DTC channel accounted for 51% of total company revenues during the second quarter.
Wholesale revenues grew 5.3% on a reported basis and 3.1% organically, reflecting healthy demand across retail partners. Beyond Yoga also performed strongly, with revenues increasing 15.8% year over year.
The Zacks Consensus Estimate for the DTC and wholesale channels was pegged at $805 million and $734 million, respectively, for the fiscal second quarter.
Management emphasized that the company's balanced growth strategy continued to generate momentum across wholesale and DTC, U.S. and international markets, women's and men's businesses, as well as tops and bottoms. Categories beyond denim bottoms contributed roughly one-third of quarterly revenue growth, highlighting Levi Strauss' transformation into a broader denim lifestyle company.
LEVI’s Regional Performance Stays BroadThe Americas generated revenues of $815.5 million, increasing 9% on a reported basis and 6.8% organically. Within the region, the U.S. business grew 5%, supported by continued strength across both DTC and wholesale channels.
Europe reported revenues of $420.2 million, up 4.2% on a reported basis but down 0.8% organically due to the timing impact of last year's distribution center transition. Excluding this temporary disruption, underlying demand remained healthy, supported by strong DTC performance across key markets.
Asia continued to outperform, with revenues increasing 10.1% on a reported basis and 11.9% organically to $283.7 million, reflecting double-digit growth across both DTC and wholesale channels. Management also highlighted strong performances across Turkey, Japan and India, while noting early signs of improvement in China. Mexico remained another standout market with 15% growth and Latin America also delivered double-digit gains across Brazil, Colombia and the Andes region.
Levi Strauss’ Brand & Category MomentumThe Levi's brand generated $1.46 billion in revenues during the quarter, increasing 8.1% on a reported basis and 5.6% organically. Total Levi's Brands revenues rose 7.8% on a reported basis and 5.5% organically, while Levi Strauss Signature posted modest growth.
Women's revenues advanced 11%, supported by continued demand across seasonal assortments and an expanding lifestyle offering. Bottoms revenues increased 6%, driven by core fits and looser silhouettes, while shorts grew 11%. Tops revenues increased 5%, or 7% excluding the European distribution center transition, benefiting from strength in blouses, wovens, sweaters and polos. Per management, encouraging traction in its premium Blue Tab collection as Levi Strauss expanded beyond its traditional denim franchise.
The company added nearly 3 million new loyalty members during the quarter, bringing total global membership to almost 50 million. Meanwhile, e-commerce represents about 12% of company revenues despite growing nearly 60% over the past three years, highlighting a significant long-term growth opportunity.
LEVI's Margins & ExpensesGross profit increased to $979.1 million from $905.8 million in the year-ago quarter. Gross margin expanded 10 basis points to 62.7%, backed by the lower product costs and pricing actions, partly offset by tariffs and foreign exchange headwinds.
Selling, general and administrative expenses were $843.4 million compared with $791 million in the prior-year quarter. Adjusted SG&A increased 6.5% to $837.9 million, mainly due to higher selling expenses and unfavorable foreign exchange impacts. The adjusted SG&A margin declined 80 basis points year over year to 53.6% in the second quarter. Disciplined cost management helped adjusted EBIT margin expand 70 basis points to 9%.
Levi Strauss' Financial SnapshotsLEVI ended the second quarter with $849.3 million in cash and cash equivalents and total liquidity of approximately $1.8 billion, providing ample financial flexibility. Total inventories declined 7% year over year, reflecting disciplined inventory management.
Levi Strauss returned $53.9 million to shareholders through dividends during the quarter and continues to have $240 million available under its share repurchase authorization. Adjusted free cash flow increased nearly 60% year over year to $230.9 million. The company announced a quarterly dividend of 16 cents per share, representing a 14% increase from the prior year.
LEVI’s Q3 GuidanceThe company expects continued business momentum in the third quarter, with reported and organic net revenues projected to increase 4%-5% year over year, despite no anticipated benefit from foreign exchange.
Gross margin is expected to expand by approximately 10 basis points to 61.8%, even with an estimated 70-basis-point foreign exchange headwind. Adjusted EBIT margin is projected to improve to 11.9%, reflecting continued operating leverage and disciplined cost management.
Adjusted EPS is expected to be in the range of 34-36 cents, including a 2-3 cents per share headwind from a higher tax rate and the impact of foreign exchange on gross margin. Management expects margin expansion to continue through the second half, with a more meaningful improvement anticipated in the fourth quarter.
What to Expect From LEVI in FY’26?Following its strong first-half performance, Levi Strauss raised its fiscal 2026 outlook. Management said the company is taking into account the entire second-quarter beat into its updated guidance, reflecting confidence in continued business momentum.
The company now expects reported revenue growth of 7%-7.5%, up from the previous 5.5%-6.5% forecast. Organic revenue growth is projected at 5.5%-6%, compared with the earlier 4.5%-5.5% range.
Gross margin is expected to expand by approximately 10 basis points, supported by a favorable sales mix, including higher DTC sales, continued growth in the women's category, stronger international performance, lower promotional activity and ongoing cost-efficiency initiatives. The company expects an adjusted EBIT margin of 12% for the full year.
Adjusted EPS guidance was raised to $1.46-$1.52 from the previous $1.42-$1.48 range, despite incorporating an estimated 4-cent-per-share headwind from a higher tax rate. The outlook assumes current tariff levels remain in place and does not anticipate any significant deterioration in macroeconomic conditions, inflation, supply-chain disruptions or currency movements.
The company continues to expect 50-60 net new store openings during fiscal 2026, with most openings planned for the second half. Management reaffirmed confidence in achieving its long-term objectives of $10 billion in annual revenues and a 15% operating margin, supported by profitable growth and disciplined execution.
LEVI Stock Past Three-Month Performance
Image Source: Zacks Investment Research
Shares of this Zacks Rank #2 (Buy) company have risen 7.8% over the past three months against the industry’s 1.2% decline.
Other Solid Picks in RetailGenesco Inc. (GCO - Free Report) is a Nashville-based specialty retail and branded company. It sells footwear and accessories in retail stores. The company flaunts a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Genesco’s current fiscal-year earnings indicates growth of 55.2% from the year-ago actuals. GCO delivered a trailing four-quarter average earnings surprise of 3.8%.
Designer Brands Inc. (DBI - Free Report) designs, produces and retails footwear and accessories. It offers shoes, boots, sandals, sneakers, socks, handbags and accessories. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Designer Brands’ current fiscal-year earnings and sales suggests growth of 137.5% and 0.5%, respectively, from the year-ago actuals. DBI delivered a trailing four-quarter average earnings surprise of 112.8%.
Tapestry, Inc. (TPR - Free Report) is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company carries a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Tapestry’s current fiscal-year earnings and sales indicates growth of 36.5% and 13.9%, respectively, from the year-ago actuals. TPR delivered a trailing four-quarter average earnings surprise of 15.6%.
Levi’s NYSE: LEVI turnaround story is one that could be written about in books. The company, an endearing, entrenched, iconic legacy brand, has embraced the modern era, delved deeply into technological advancement, and is now experiencing a virtuous cycle tied to AI.
Levi Strauss & Co. Today
LEVI
Levi Strauss & Co.
$24.61 +0.24 (+0.98%)
As of 01:13 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$17.72▼
$25.58Dividend Yield2.27%
P/E Ratio15.70
Price Target$27.21
Indeed, Levi’s is now a retail AI story, as its direct-to-consumer (DTC) shift not only improved sales and margins but also enabled proprietary data, driven by a solid eCommerce presence, and data is what AI is all about.
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Now, Levi’s is capitalizing on its growing data set, strengthening its network as it leans into higher-margin business, loyalty membership, and comp store growth.
To fully comprehend the change, investors must consider where Levi’s was. Struggling with in-store merchandising and an obvious wholesaling failure, Levi's made the DTC shift, which unlocked a retail bottleneck.
Consumers who wanted Levi’s products couldn’t easily find them at 3rd-party retailers; DTC solved the issue.
With control over its stores, Levi’s can ensure product and merchandising quality while also realizing higher retail margins. Within that, digitalization enabled not only data collection but also full-scale merchandising—consumers no longer have to dig through a pile of messy, picked-through jeans to find the style and size they need; they are now within easy reach. And the impact on the business has been staggering.
Levi Strauss Accelerates Turnaround With Beat-and-Raise QuarterLevi Strauss posted a solid Q2, with revenue up 8% to $1.56 billion. This was an acceleration over the prior year, outperforming consensus by more than 540 basis points (bps) on strength across all markets, channels, and categories. DTC grew by 11%, underpinned by eCommerce, while wholesale grew at a more modest pace. Worth more than 50% of the revenue, DTC's growth was driven by a 6% comp and a 19% increase in eCommerce. Regionally, the Americas were strongest at up 9%, underpinned by a 5% gain in the U.S., while Asia grew by 10% and Europe by 4%.
Margin was another strength driven by the DTC business. The company posted improvements at the gross and operating levels, driving a 35 bps improvement in operating margin and a 70 bps gain in adjusted earnings before interest and taxes (EBIT). Bottom-line results reflect strength, with adjusted earnings per share (EPS) up 27% year over year (YOY) to 28 cents, 4 cents above MarketBeat’s reported analyst consensus.
As good as the Q2 results were, it is the guidance that will keep Levi’s market advancing this year. The company increased its targets for revenue, margin, and earnings, lifting the high ends and tightening the ranges.
Levi’s guidance aligns with consensus forecasts, affirming confidence, and is likely to be cautious. CEO Michelle Gass says the company is in the earliest phases of its DTC growth and has more ways to win than ever, including a larger addressable market.
Levi’s Raises Dividend, Signaling Confidence in OutlookLevi’s solid Q2 report was accompanied by a 14% increase in the dividend distribution. While the increase was not unexpected, the size was above average, signaling confidence in the outlook. Investors should consider distribution safety, which ranks well with a payout ratio below 40% and a robust growth trajectory. Future increases may not be as large but are likely, as are share buybacks. Q2 activity, including the impact of an accelerated share repurchase authorization, reduced the count by an average of 2.35%.
Overall MarketRank™94th Percentile
Analyst RatingModerate Buy
Upside/Downside9.6% Upside
Short Interest LevelHealthy
Dividend StrengthModerate
News Sentiment0.27 Insider TradingSelling Shares
Proj. Earnings Growth11.26%
See Full Analysis
Analysts responded optimistically but noted that the guidance failed to impress. Although solid in light of past results, analysts had hoped for more, setting the stage for a stock price correction. In this scenario, Levi’s may see a post-release stock price pullback, potentially moving as low as $22, but in the longer term, the forecasts remain very bullish.
The consensus of 16 analysts tracked by MarketBeat is a Moderate Buy, with an 81% Buy-side bias; no Sell ratings are tracked, and price targets have been rising. Consensus, which was up 35% YOY ahead of the release, forecasts a modest double-digit increase relative to the pre-release closing price, with the high end pointing to a fresh all-time high.
Institutional activity suggests the downside risks are limited as of early July. While the trailing 12-month activity includes significant selling in prior quarters, the balance reverted to accumulation in Q2 and has sustained a robustly bullish pace in early Q3, suggesting the Q2 strength was anticipated. The likely outcome is that any post-release price pullback will trigger more buying, underpinning technical support for this market. Levi’s biggest risks include tariff uncertainty and foreign exchange headwinds, but the company appears to be navigating the environment well.
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Shares of Salesforce (CRM) can't seem to catch a break, with Diane King Hall pointing to a downgrade from Keybanc pressuring the stock as it struggles to break free from a downtrend. On the earnings front, PepsiCo (PEP) showed international growth though price action fizzled on the report.
Levi Strauss & Co (NYSE:LEVI) reported second quarter results that topped Wall Street expectations, driven by higher revenue and earnings, while raising its full-year revenue and earnings guidance and increasing its quarterly dividend.
The apparel company reported adjusted earnings of $0.28 per diluted share for the quarter ended May 31, ahead of analysts' expectations of $0.24.
Revenue rose 8% year over year to $1.56 billion, exceeding the consensus estimate of $1.52 billion. On an organic basis, net revenue increased 6%.
Operating margin improved to 7.8% from the prior year, while adjusted EBIT margin expanded 70 basis points to 9.0%. Diluted earnings per share from continuing operations increased 20% year over year to $0.24, and adjusted diluted EPS rose 27% to $0.28.
Levi’s CEO Michelle Gass said the brand continued to gain traction with consumers as the company executed its strategy to expand its direct-to-consumer business and broader lifestyle offerings.
“While we are pleased with the progress, we are still in the early stages of our long-term growth journey, with more ways to win than ever before,” Gass said.
During the quarter, direct-to-consumer revenue increased 11% on a reported basis, with e-commerce sales rising 19%. DTC represented 51% of total net revenue in the quarter. Wholesale revenue increased 5%.
By region, revenue increased 9% in the Americas, 4% in Europe on a reported basis, and 10% in Asia. Beyond Yoga revenue grew 16%.
Following its first-half performance, Levi Strauss raised its fiscal 2026 outlook. The company now expects reported net revenue growth of 7.0% to 7.5%, up from its previous forecast of 5.5% to 6.5%, and organic revenue growth of 5.5% to 6%, compared with prior guidance of 4.5% to 5.5%.
The company also increased its adjusted diluted EPS forecast to a range of $1.46 to $1.52 from its previous outlook of $1.42 to $1.48.
It now expects gross margin to improve by up to 10 basis points year over year while maintaining its expectation for an adjusted EBIT margin of approximately 12%.
Levi Strauss said its guidance assumes US tariffs on imports from China remain at 30% and tariffs on imports from the rest of the world remain at 20%.
Shares of Levi Strauss were up 1% following the report.
Listen below or on the go via Apple Podcasts and Spotify
Levi beat on revenue and profit. (00:13) Shares fell anyway. Monster sets the date for a 2-for-1 split. (01:33) Burry bets on betting. (02:05)
This is an abridged transcript.
Shares of Levi Strauss & Co. (LEVI) are under pressure.
LEVI reported a top- and bottom-line beat in the second quarter but it was overshadowed by the company’s conservative outlook for the fiscal year that continued to reflect significant headwinds from import tariffs.
As the company pivots to a direct-to-consumer-focused business model, an 11% increase in DTC sales and solid gains in U.S., Europe, and Asian sales contributed to $1.56B in total revenue, an increase of 7.6% year-over-year and $80M better than expected. Wholesale sales were up 5%.
The company’s bottom-line improved as well, with adjusted net income increasing 24% to $110M, or $0.28 per share, 4 cents above expectations.
Looking ahead to the remainder of 2026, Levi’s (LEVI) outlook left investors disappointed that Q2 results did not lead to a larger upward revision. In addition, the company warned that 2026 guidance assumes U.S. tariffs on imports from China remain at 30% and 20% for rest-of-world.
Shares are down 6% in early trading.
Monster Beverage (MNST) announced that its board of directors has approved and declared a 2-for-1 split of its common stock.
Each stockholder of record on July 24, 2026 will receive a dividend of one additional share of common stock for each then-held share, to be distributed after close of trading on August 10, 2026.
Monster anticipates its common stock to begin trading at the split-adjusted price on August 11, 2026.
MNST closed the day Wednesday at $95.15.
Shares of DraftKings (DKNG) and Flutter (FLUT) both moved higher after Michael Burry disclosed a new stake in both online betting platforms in a Substack post.
Burry posted that, “DraftKings is inflecting as an operating business, and the value is in the transition I foresee in the near future.” He goes on to say, “Flutter has been hurt by capital misallocation in the past but is fundamentally a very good operating business with terrific scale.”
While Burry acknowledges the threat from prediction markets and their impact on the share price of DraftKings (DKNG) and Flutter (FLUT), he says prediction markets like Kalshi (KALSHI) and Polymarket (POLYMARKET) will eventually be “subsumed into regulation and taxation.”
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1. AZN Sinks as Heart Drug Fails Test Target AstraZeneca (AZN 1.92%) fell over 8% ahead of the opening bell after a late-stage clinical trial for its heart disease drug Wainua failed to meet its target, with the stock down on the potential impact it could have on profitability.
Wainua "did not provide a statistically significant benefit": The drug is designed to help a condition that affects between 300,000 and 500,000 people globally, and marks the second recent setback for the Team Rule Breakers recommendation following the approval delay from U.S. regulators for a new cancer treatment back in May. The drugmaker reported 16 positive late-stage trial results last year: In November, Fool analysts including Asit Sharma, Karl Thiel, and Jason Moser explained the business "wants to get even further ahead," and said there's the "potential for quantum computing and other technological innovation to have a massive positive impact on drug development." 2. Diverging Earnings Reaction From LEVI, PSMT, and AZZ Levi Strauss (LEVI 1.18%) dropped around 6% before the market opened despite quarterly revenue and earnings beating expectations, as the full-year revenue guidance increase didn't impress investors enough, with some concern around tariffs and costs going forward. PriceSmart (PSMT 1.48%) was little changed ahead of the opening bell following a mixed bag of results. Earnings per share missed consensus, but investor sentiment was boosted with plans for global expansion into Chile. AZZ (AZZ 0.31%) popped almost 8% in pre-market trading thanks to results showing high industrial demand for metal coatings. The Team Hidden Gems recommendation also raised the full-year outlook.
3. Fed Minutes Unveil Rate Divisions
The Federal Reserve's June meeting minutes revealed policymakers entertained different scenarios for interest rates going forward, although ambiguity around the competing views meant the immediate impact on the stock market was muted.
"Participants noted that their future policy actions would depend on incoming information": Voting members noted the risks of higher inflation, but balanced this with the need to monitor the impact of the situation in the Middle East for any easing in energy price disruption. 14-page meeting summary shorter than typical release: In line with new Fed Chair Warsh's statement that Fed officials should communicate less about future policy intentions, the meeting minutes were balanced without providing more guidance than previously offered. 4. SK Hynix Draws Giant U.S. ADR Demand Bloomberg reports the U.S. listing for Korean memory chipmaker SK Hynix is more than seven times oversubscribed, as the offering could be set to rank among the largest ever debuts by a foreign company.
High institutional demand noted: The listing, via American depositary receipts (ADRs), has attracted a lot of interest from sovereign wealth funds and more traditional asset managers who will be able to get exposure more easily in a U.S. marketplace. The offering could raise about $24.5 billion: Based on Bloomberg calculations, the share equivalent of the ADR means the funds raised would rank second only to the $25 billion raised by Alibaba (BABA +10.96%) back in 2014. 5. Today's Take: Credit Where It's Due
I like how Carol Tomé, the CEO of UPS (UPS 1.80%), thinks about it. She has said she wants her legacy judged by the leadership team she leaves behind when she retires. Valuations and market cycles are largely outside a CEO's control. The people and culture they build are not.-- Anthony Schiavone
The founder who is responsible for the company's product, brand, and vision is immensely responsible for success. A CEO who creates a new vision and turns a company around is a massive contributor. But there are also cases where a business thrives or survives in spite of its leadership, simply because the product is so important or because the environment is easy to navigate.-- Alicia Alfiere Team Rule Breakers
6. Your Take Which, if any, positions have you sold all or some of from your portfolio in the last month, and why?
Share with friends and family, or become a member to hear what your fellow Fools are saying!
This image and article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends AstraZeneca Plc, Azz, and United Parcel Service. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy.
U.S. stock futures were mixed this morning, with the Dow futures falling around 0.1% on Thursday.
Shares of Levi Strauss & Co (NYSE:LEVI) fell sharply in pre-market trading following second-quarter results.
The company reported quarterly earnings of 28 cents per share, which beat the analyst consensus estimate of 24 cents per share. The company reported quarterly sales of $1.562 billion, which beat the analyst consensus estimate of $1.520 billion.
Levi Strauss shares dipped 6.1% to $22.89 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
Photo via Shutterstock
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Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) has identified extensive copper mineralisation within the historical waste dump at its Nifty Copper Complex in Western Australia, pointing to a potential new feed source for the company’s phased copper cathode restart strategy.
The copper developer said a recent reverse circulation drilling program had targeted visible copper mineralisation in the waste dump next to the historical oxide open pit, with metallurgical test work now planned to assess mineralisation characteristics and leaching performance.
Strong shallow copper hits Drilling returned multiple shallow oxide copper intersections from surface, including 9 metres at 1.00% copper from 0 metres, including 4 metres at 1.83% copper from 2 metres in hole 26NFLG050.
Other key results included 7 metres at 1.11% copper from surface, including 3 metres at 1.55% copper from 2 metres in 26NFLG060; 9 metres at 0.80% copper from surface, including 2 metres at 1.56% copper from 5 metres in 26NFLG021; and 7 metres at 1.03% copper from surface, including 3 metres at 1.71% copper from 1 metre in 26NFLG049.
The main mineralised zone has so far been defined over an area of 750 metres by 250 metres, with Cyprium expecting extensions to the mineralisation. Further drilling will be required to define and infill the zone, while scout drilling has also identified oxide copper intersections requiring follow-up across the broader waste dump.
Main mineralised zone within the Nifty waste dump with key intersections.
Potential feed source for Nifty restart The results are significant because the waste dump sits around 1.2 kilometres from existing heap leach pads via existing haul roads, giving Cyprium a potential above-ground, low-cost oxide copper feed source for the refurbished heap leach and solvent extraction-electrowinning, or SXEW, plant.
The Nifty open pit operated between 1993 and 2003, when material was processed through heap leach and SXEW at copper prices below US$1 per pound. Cyprium said historical mining records are largely absent, but visible copper mineralisation is apparent across large sections of the waste dump.
A total of 133 RC holes for 2,697 metres were drilled in the central waste dump area, with holes completed on a 40-metre by 40-metre grid and infilled to 20 metres by 20 metres in the central area. The program intersected extensive copper oxide mineralisation throughout.
Near surface oxides and mineralised zones within the waste dump have potential to support additional cathode production capacity.
Management sees value in historical material Cyprium executive chairman Matt Fifield said defining mineralised zones within the historical waste dump was “another great example” of the positive outcomes emerging as site work advanced.
“What was set aside in the 1990s as being waste or low grade is now potentially economic – no different to our open pit that has a 0.9% Reserve grade or nearly twice what is often being advanced in greenfield developments today,” Fifield said.
“We’re bringing 2026 market conditions, mechanical horsepower and technology to 1993 geology. Those combinations are helping to build the foundation of Australia’s next great copper company.”
What’s ahead Cyprium will now focus on further drilling in the core waste dump area, where the limits of mineralisation remain undefined, as well as follow-up drilling around mineralisation identified in scout holes.
The company also plans to engage an external technical consultant to prepare a maiden Mineral Resource Estimate for the waste dump mineralised zones, while initial metallurgical test work will assess ore sorting and acid leachability.
About Cyprium and Nifty Cyprium is focused on the phased restart of the Nifty Copper Complex in WA’s Paterson province, about 350 kilometres southeast of Port Hedland. Its Phase 1 Cathode Restart involves re-leaching existing above-ground heap leach pads and refurbishing the SXEW plant to support an initial production capacity of about 6,000 tonnes per annum of copper cathode.
The company is also evaluating opportunities to expand cathode production, including shallow oxide material in the open pit, mineralised zones within the waste dump and the potential to recover copper from existing pads at a higher rate.
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has reported further high-grade gold results from near-mine drilling at the Björkdal Gold Mine in Sweden, with new intercepts extending mineralisation at depth and supporting the company’s push to grow resources and mine life.
The latest program comprised 29 growth and infill diamond drill holes for 15,568 metres, focused on the Eastern and Northern extensions of the underground mine.
The work has improved confidence in vein geometry, grade continuity and the structural controls that influence mineralisation.
Alkane has ended FY2026 in the top half of production guidance after delivering 42,491 gold-equivalent ounces in the June quarter and lifting closing cash by $104 million to $432 million.
High-grade hits support extension potential The strongest result came from the Eastern Extension, where drill hole MU25-030 returned 86.1 g/t gold over 1.25 metres, with an estimated true width of 0.80 metres. Other Eastern Extension highlights included 81.3 g/t gold over 4.40 metres, 78.3 g/t gold over 0.30 metres and 39.3 g/t gold over 0.50 metres.
Core tray photograph from MU25-030, where the highest-grade interval of the drill program was intersected.
In the Northern Extension, notable assays included 31.5 g/t gold over 0.85 metres, 25.2 g/t gold over 0.60 metres, 17.1 g/t gold over 0.80 metres and 15.4 g/t gold over 4.00 metres.
Alkane said the drilling had supported grade continuity across both target areas, with high-grade intercepts in the Eastern Extension pushing known mineralisation to 762 metres below surface — the deepest yet recorded in the field.
Eastern Extension delivers deepest intercept Thirteen holes were completed along the eastern flank of the mine for 6,304 metres, targeting strike and depth extensions of Main Zone veining within the underground mine.
The company identified 169 ore-grade intercepts in the target zone, including the standout 86.1 g/t gold result in MU25-030. The program also delivered Björkdal’s deepest intercept to date, with MU25-021 returning 3.5 g/t gold over 3.20 metres at -762 metres elevation.
Northern Extension confirms vein swarms At the Northern Extension, Alkane completed 16 holes for 9,264 metres, with an average hole depth of 580 metres. The program was designed to improve the company’s understanding of vein morphology and structural controls, while testing northern and western extensions of known veining.
Drilling confirmed previously identified vein swarms and strengthened the geological model for the area. A total of 68 ore-grade intercepts were reported, with mineralised veins confirmed up to about 600 metres from existing underground development.
Confidence grows at long-life Swedish asset Managing director and CEO Nic Earner said the results reinforced Alkane’s confidence in Björkdal’s ongoing potential.
“We are encouraged by the results coming from our near mine extension programs at Björkdal. The positive results indicate that the mineral system is still strong and open at depth. These results, together with the new resource at Storheden, support our confidence in the potential to increase production in addition to the longevity of the operation,” Earner said.
Björkdal is in northern Sweden, about 28 kilometres northwest of Skellefteå, and has produced around 1.69 million ounces of gold since mining began in 1988. The operation has a 1.4-million-tonne-per-annum processing plant and is now wholly owned by Alkane following its merger with Mandalay Resources in August 2025.
Alkane said mineralisation remains open at depth and along strike in both the Eastern and Northern extension areas.
In FY27, underground drilling will continue through staged infill and extension programs aimed at improving geological confidence and testing mineralisation continuity. At the Northern Extension, drilling will be supported by a dedicated underground drill platform, while Eastern Extension work will focus on step-out testing to assess the continuity of known vein swarms and refine structural controls.
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For the quarter ended May 2026, Levi Strauss (LEVI - Free Report) reported revenue of $1.56 billion, up 8% over the same period last year. EPS came in at $0.28, compared to $0.22 in the year-ago quarter.
The reported revenue represents a surprise of +2.52% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $0.24, the EPS surprise was +16.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Levi Strauss performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenues- Americas: $815 million versus $785.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +9% change.Geographic Revenues- Beyond Yoga: $43 million compared to the $39.46 million average estimate based on four analysts.Geographic Revenues- Asia: $284 million versus the four-analyst average estimate of $275.26 million. The reported number represents a year-over-year change of +10.1%.Geographic Revenues- Europe: $420 million compared to the $423.58 million average estimate based on four analysts. The reported number represents a change of +4.2% year over year.Total Levi?s Brands Net Revenues: $1.52 billion versus $1.48 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.8% change.View all Key Company Metrics for Levi Strauss here>>>
Shares of Levi Strauss have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
SAN FRANCISCO--(BUSINESS WIRE)--Levi Strauss & Co. (NYSE: LEVI) today announced financial results for the second quarter ended May 31, 2026.
“The Levi’s® brand is connecting with consumers around the world in more powerful ways than ever before, and our Q2 results are another proof point that our strategies are working and our team is executing,” said Michelle Gass, President and CEO of Levi Strauss & Co. “Our evolution into a DTC-first, denim lifestyle company—with a much larger addressable market—is translating to faster growth and higher profitability. While we are pleased with the progress, we are still in the early stages of our long-term growth journey, with more ways to win than ever before.”
“We delivered another strong quarter driven by broad-based growth across markets, channels and categories,” said Harmit Singh, Chief Financial and Growth Officer of Levi Strauss & Co. “That growth translated into higher profitability through gross margin expansion and disciplined SG&A leverage, demonstrating the strength and scalability of our operating model. Given our strong first-half results, we are passing through our full Q2 beat and raising our full-year guidance. We are also increasing our dividend, reflecting confidence in the strength of our business, our cash flow generation and our ability to create long-term shareholder value.”
Financial Highlights for the Second Quarter
Net Revenues of $1.6 billion increased 8% on a reported basis and 6% on an organic basis versus Q2 2025. In the Americas, net revenues increased 9% on a reported basis and increased 7% on an organic basis. Within the Americas, the U.S. increased 5% on a reported basis. In Europe, net revenues increased 4% on a reported basis and decreased 1% on an organic basis entirely due to the impact of the company’s distribution center transition last year which resulted in a shift of shipments from Q1 2025 into Q2 2025. H1 2026 net revenues increased 14% on a reported basis and 5% on an organic basis. In Asia, net revenues increased 10% on a reported basis and 12% on an organic basis. Beyond Yoga® increased 16% on a reported and organic basis. DTC (Direct-to-Consumer) net revenues increased 11% on a reported basis and 8% on an organic basis. DTC growth on a reported basis reflected a 5% increase in the U.S., a 12% increase in Europe and a 12% increase in Asia. DTC growth on an organic basis reflected a 7% increase in Europe and a 12% increase in Asia. Net revenues from e-commerce grew 19% on a reported basis and 17% on an organic basis. DTC comparable sales growth was 6%. DTC comprised 51% of total net revenues in the second quarter. Wholesale net revenues increased 5% on a reported basis and 3% on an organic basis. Net Revenues
Operating Income (loss)
Three Months Ended
Increase
(Decrease)
As
Reported
Increase
(Decrease)
Organic
Net Revenues
Three Months Ended
Increase
(Decrease)
As
Reported
($ millions)
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
Americas
$
815
$
748
9
%
7
%
$
164
$
153
7
%
Europe
$
420
$
403
4
%
(1
)%
$
89
$
69
28
%
Asia
$
284
$
258
10
%
12
%
$
43
$
30
44
%
Beyond Yoga®
$
43
$
37
16
%
16
%
$
(2
)
$
(4
)
47
%
___________
Operating margin was 7.8% in Q2 2026 compared to 7.5% in Q2 2025. Adjusted EBIT margin was 9.0% in Q2 2026 compared to 8.3% in Q2 2025. Gross margin expanded 10 basis points to 62.7%, driven by lower product costs and pricing actions. Tariffs and foreign exchange were a headwind in the quarter. Selling, general and administrative expenses (SG&A) were $843 million compared to $791 million in Q2 2025. Adjusted SG&A was up 6.5% to $838 million compared to $787 million last year primarily due to higher selling expenses and foreign exchange. Interest and other income (expense), net, which includes foreign exchange gains and losses, were zero in the aggregate in Q2 2026 and expenses of $6 million in the aggregate in Q2 2025. The effective income tax rate was 22.4%, compared to 22.3% in Q2 2025. Net income from continuing operations was $95 million compared to $80 million in Q2 2025. Adjusted net income was $110 million compared to $89 million in Q2 2025. Diluted earnings per share from continuing operations was $0.24 compared to $0.20 in Q2 2025. Adjusted diluted earnings per share was $0.28 compared to $0.22 in Q2 2025. Highlights include:
Three Months Ended
% Increase
As
Reported
% Increase
Organic
Net Revenues
Six Months Ended
% Increase
As
Reported
% Increase
Organic
Net Revenues
($ millions)
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
Net revenues
$
1,562
$
1,446
8%
6%
$
3,305
$
2,973
11%
8%
DTC Comparable Sales Growth
6%
+
*
*
*
*
*
*
Three Months Ended
Increase
As
Reported
Increase
(Decrease)
Constant
Currency
Six Months Ended
Increase
As
Reported
Increase
(Decrease)
Constant
Currency
($ millions, except per-share amounts)
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
Net income from continuing operations
$
95
$
80
19%
*
$
272
$
220
24%
*
Adjusted net income
$
110
$
89
24%
21%
$
277
$
239
16%
12%
Adjusted EBIT
$
141
$
119
18%
13%
$
359
$
323
11%
4%
Diluted earnings per share from continuing operations
$
0.24
$
0.20
4 ¢
*
$
0.69
$
0.55
14 ¢
*
Adjusted diluted earnings per share
$
0.28
$
0.22
6 ¢
5 ¢
$
0.70
$
0.60
10 ¢
8 ¢
Additional information regarding DTC Comparable sales growth, a key metric, is provided at the end of this press release.
Additional information regarding Adjusted SG&A, Adjusted EBIT, Adjusted EBIT margin, Adjusted net income, Adjusted diluted earnings per share, Adjusted free cash flow, as well as amounts presented on an organic net revenues basis and constant currency basis, all of which are non-GAAP financial measures, is provided at the end of this press release.
Balance Sheet Review as of May 31, 2026
Cash and cash equivalents were $849 million, while total liquidity was approximately $1.8 billion. Total inventories decreased 7% on a dollar basis compared to Q2 2025. Shareholder Returns
In the second quarter, the company returned $53.9 million in the form of dividends to shareholders, a 5% increase over prior year, representing a dividend of $0.14 per share. The $200 million accelerated share repurchase program launched in the first quarter of 2026 is expected to be settled in the third quarter.
As of May 31, 2026, the company had $240 million remaining under its current share repurchase authorization, which has no expiration date.
The company declared a dividend of $0.16 per share, a 14% increase over prior year, totaling approximately $62 million, payable in cash on August 5, 2026 to the holders of record of Class A common stock and Class B common stock at the close of business on July 22, 2026.
Fiscal 2026 Guidance
Guidance for 2026 is based on continuing operations, reflecting the Dockers® business being reported in discontinued operations. Guidance assumes U.S. tariffs on imports from China remain at 30% and Rest-of-World at 20%.
The following guidance is provided for the year ending November 29, 2026:
Metric
Updated FY 2026 Guidance
Previous FY 2026 Guidance
Reported net revenues growth
Raised to 7.0% to 7.5%
5.5% to 6.5%
Organic net revenues growth
Raised to 5.5% to 6.0%
4.5% to 5.5%
Gross margin
Raised to up 10 basis points to prior year
Flat to slightly up to prior year
Adjusted EBIT margin
Expanding to 12%, up 60 basis points to prior year
Expanding to approximately 12%
Tax rate
Approximately 23%, 2 points higher than prior year
Approximately 23%, 2 points higher than prior year
Adjusted diluted EPS
Raised to $1.46 to $1.52
This includes an approximate $0.04 headwind from a higher tax rate
$1.42 to $1.48
This includes an approximate $0.04 headwind from a higher tax rate
This outlook also assumes no significant worsening of macro-economic pressures on the consumer, inflationary pressures, supply chain disruptions, potential tariffs or currency fluctuations. A reconciliation of non-GAAP forward looking information to the corresponding GAAP measures cannot be provided without unreasonable efforts due to the challenge in quantifying various items including but not limited to, the effects of foreign currency fluctuations, taxes, potential tariffs and rebates, and any future restructuring, restructuring-related, severance and other charges.
Investor Conference Call
To access the conference call, please pre-register on https://register-conf.media-server.com/register/BIaa579b9dc68f4e8b85f3a07e93aae5b8 and you will receive confirmation with dial-in details. A live webcast of the event can be accessed on https://edge.media-server.com/mmc/p/kopa6vxc.
A replay of the webcast will be available on http://investors.levistrauss.com starting approximately two hours after the event and archived on the site for one quarter.
About Levi Strauss & Co.
Levi Strauss & Co. (LS&Co.) is one of the world's largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Levi Strauss Signature™, and Beyond Yoga® brands. Its products are sold in approximately 120 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,300 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2025 net revenues were $6.3 billion. For more information, go to http://levistrauss.com, and for financial news and announcements go to http://investors.levistrauss.com.
Forward-Looking Statements
This press release and related conference call contains, in addition to historical information, forward-looking statements, including statements related to: future financial results, including the company’s expectations for the full fiscal year 2026 net revenues (both reported and on an organic net revenues basis), gross margin, adjusted EBIT margins, adjusted SG&A, adjusted diluted earnings per share and effective tax rate; business and market outlook; consumer preferences; progress against strategic priorities; the ongoing restructuring of our operations and our ability to achieve any anticipated cost savings associated with such restructuring; trajectory of direct-to-consumer business; macroeconomic conditions, including impacts of and uncertainties around U.S. tariffs and potential rebates and any additional retaliatory measures by impacted exporting countries; impacts of foreign currency exchange; capital expenditures; pricing initiatives; inventory growth; new store openings; investments in high growth initiatives; future dividend payments and share repurchases; and efforts to diversify product categories and distribution channels, and the related revenue projections. The company has based these forward-looking statements on its current reasonable assumptions, expectations and projections about future events. Words such as, but not limited to, “believe,” “will,” “may,” “so we can,” “when,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “could” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessary estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties, some of which are beyond our control, that could cause actual results to differ materially from those suggested by the forward-looking statements. Investors should consider the information contained in the company's filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for fiscal 2025, especially in the “Management's Discussion and Analysis of Financial Condition and Results of Operations”, “Summary of Risk Factors” and “Risk Factors” sections, and its Quarterly Report on Form 10-Q for the quarter ended May 31, 2026, especially in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, section. Other unknown or unpredictable factors also could have material adverse effects on future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release and related conference call may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this press release and related conference call. The company is not under any obligation and does not intend to update or revise any of the forward-looking statements contained in this press release and related conference call to reflect circumstances existing after the date of this press release and related conference call or to reflect the occurrence of future events, even if such circumstances or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.
Key Metrics
DTC Comparable sales growth is used by management to evaluate the performance of our existing Levi’s® brand company owned and operated mainline and outlet store base and owned digital channels by measuring year‑over‑year changes in net revenues for stores open for at least 12 full fiscal months, excluding the effects of changes in our store portfolio and other events that materially affect comparability such as significant relocations, or expansions and remodels. In fiscal years with 53 weeks, the impact of the additional week is excluded, and prior‑year periods are adjusted as necessary to align comparable weeks. DTC Comparable sales growth is presented on a constant currency basis and is intended as a supplemental operating metric, which may not be comparable to similarly titled measures used by other companies.
Non-GAAP Financial Measures
The company reports its financial results in accordance with generally accepted accounting principles in the United States (GAAP) and the rules of the SEC. To supplement its financial statements prepared and presented in accordance with GAAP, the company uses certain non-GAAP financial measures, such as Adjusted SG&A, Adjusted SG&A margin, Adjusted EBIT (both reported and on a constant-currency basis), Adjusted EBIT margin (both reported and on a constant-currency basis), Adjusted EBITDA, Adjusted net income (both reported and on a constant-currency basis), Adjusted diluted earnings per share (both reported and on a constant-currency basis), organic net revenues, Adjusted free cash flow, and return on invested capital to provide investors with additional useful information about its financial performance, to enhance the overall understanding of its past performance and future prospects and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. The tables found below present Adjusted SG&A, Adjusted SG&A margin, Adjusted EBIT (both reported and on a constant-currency basis), Adjusted EBIT margin (both reported and on a constant-currency basis), Adjusted EBITDA, Adjusted net income (both reported and on a constant-currency basis), Adjusted diluted earnings per share (both reported and on a constant-currency basis), organic net revenues, Adjusted free cash flow, and return on invested capital and corresponding reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP. Non-GAAP financial measures have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Certain items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the company’s financial position, results of operations and cash flows and should therefore be considered in assessing the company’s actual financial condition and performance. Non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgment by management in determining how they are formulated. Some specific limitations include but are not limited to, the fact that such non-GAAP financial measures: (a) do not reflect cash outlays for capital expenditures, contractual commitments or liabilities including pension obligations, post-retirement health benefit obligations and income tax liabilities; (b) do not reflect changes in, or cash requirements for, working capital requirements; and (c) do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on indebtedness. In addition, non-GAAP financial measures may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies. As a result, non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the company's financial results prepared in accordance with GAAP. The company urges investors to review the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures included in this press release, and not to rely on any single financial measure to evaluate its business. See “RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES” below for reconciliation to the most comparable GAAP financial measures. A reconciliation of non-GAAP forward-looking information to the corresponding GAAP measures cannot be provided without unreasonable efforts due to the challenge in quantifying various items including but not limited to, the effects of foreign currency fluctuations, taxes, and any future restructuring, restructuring-related, severance and other charges.
Organic Net Revenues and Constant-Currency
The company reports net revenues in accordance with GAAP, as well as on an organic net revenues basis in order to facilitate period-to-period comparisons of our revenues which excludes the impact of fluctuating foreign currency exchange rates from the change in reported net revenues, net revenues derived from business acquisitions, divestitures or wind downs impacting the comparable reporting date and the estimated impact of any 53rd week. The company reports certain operating results in accordance with GAAP, as well as on a constant-currency basis in order to facilitate period-to-period comparisons of its results without regard to the impact of fluctuating foreign currency exchange rates. These measures exclude the results of our Dockers® business, which is classified as discontinued operations.
The term foreign currency exchange rates refers to the exchange rates used to translate the company's operating results for all countries where the functional currency is not the U.S. Dollar into U.S. Dollars. Because the company is a global company, foreign currency exchange rates used for translation may have a significant effect on its reported results. In general, the company's financial results are affected positively by a weaker U.S. Dollar and are affected negatively by a stronger U.S. Dollar as compared to the foreign currencies in which it conducts its business. References to operating results on a constant-currency basis mean operating results without the impact of foreign currency translation fluctuations.
The company calculates constant-currency amounts by translating local currency amounts in the prior-year period at actual foreign currency exchange rates for the current period. Constant-currency results do not eliminate the transaction currency impact, which primarily includes the realized and unrealized gains and losses recognized from the measurement and remeasurement of purchases and sales of products in a currency other than the functional currency and of forward foreign exchange contracts.
The company believes disclosure of organic net revenues and Adjusted EBIT constant-currency, Adjusted EBIT Margin constant-currency and Adjusted Net Income constant-currency results is helpful to investors because it facilitates period-to-period comparisons of its results by increasing the transparency of the underlying performance by excluding the impact of fluctuating foreign currency exchange rates. However, organic net revenues and constant-currency results are non-GAAP financial measures and are not meant to be considered in isolation or as a substitute for comparable measures prepared in accordance with GAAP. Organic net revenues and constant-currency results have no standardized meaning prescribed by GAAP, are not prepared under any comprehensive set of accounting rules or principles and should be read in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. Organic net revenues and constant-currency results have limitations in their usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
Source: Levi Strauss & Co. Investor Relations
LEVI STRAUSS & CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
May 31,
2026
November 30,
2025
(Dollars in millions)
ASSETS
Current Assets:
Cash and cash equivalents
$
849.3
$
757.9
Short-term investments in marketable securities
128.5
90.9
Trade receivables, net
586.2
774.7
Inventories
1,157.6
1,237.7
Other current assets
245.3
238.5
Current assets held for sale
—
54.0
Total current assets
2,966.9
3,153.7
Property, plant and equipment, net
659.8
681.8
Goodwill
282.0
280.6
Other intangible assets, net
192.8
194.4
Deferred tax assets, net
839.9
830.1
Operating lease right-of-use assets, net
1,141.3
1,148.2
Other non-current assets
544.8
538.7
Non-current assets held for sale
—
21.3
Total assets
$
6,627.5
$
6,848.8
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable
$
598.5
$
597.6
Accrued salaries, wages and employee benefits
192.9
244.7
Accrued sales returns and allowances
190.8
226.1
Short-term operating lease liabilities
268.3
260.7
Other accrued liabilities
602.7
703.4
Total current liabilities
1,853.2
2,032.5
Long-term debt
1,043.0
1,039.2
Long-term operating lease liabilities
984.3
1,005.6
Long-term employee related benefits
244.3
252.7
Other long-term liabilities
230.3
240.2
Total liabilities
4,355.1
4,570.2
Commitments and contingencies
Stockholders’ Equity:
Common stock — $0.001 par value; 1,200,000,000 Class A shares authorized, 99,130,650 shares and 103,620,225 shares issued and outstanding as of May 31, 2026 and November 30, 2025, respectively; and 422,000,000 Class B shares authorized, 285,717,276 shares and 286,756,831 shares issued and outstanding, as of May 31, 2026 and November 30, 2025, respectively
0.4
0.4
Additional paid-in capital
754.9
788.1
Retained earnings
1,896.8
1,897.3
Accumulated other comprehensive loss
(379.7
)
(407.2
)
Total stockholders’ equity
2,272.4
2,278.6
Total liabilities and stockholders’ equity
$
6,627.5
$
6,848.8
The notes accompanying our consolidated financial statements in our Form 10-Q for the second quarter of fiscal 2026 are an integral part of these consolidated financial statements.
LEVI STRAUSS & CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
(Dollars in millions, except per share amounts)
(Unaudited)
Net revenues
$
1,562.0
$
1,446.0
$
3,304.5
$
2,972.8
Cost of goods sold
582.9
540.2
1,247.1
1,119.4
Gross profit
979.1
905.8
2,057.4
1,853.4
Selling, general and administrative expenses
843.4
791.0
1,715.1
1,540.3
Restructuring charges, net
13.5
6.8
21.4
13.5
Operating income
122.2
108.0
320.9
299.6
Interest expense
(12.9
)
(11.8
)
(26.0
)
(22.7
)
Other income (expense), net
12.9
6.3
55.5
2.2
Income from continuing operations before income taxes
122.2
102.5
350.4
279.1
Income tax expense
27.4
22.9
78.5
59.3
Net income from continuing operations
94.8
79.6
271.9
219.8
Net loss from discontinued operations, net of taxes
(7.5
)
(12.6
)
(8.8
)
(17.8
)
Net income
$
87.3
$
67.0
$
263.1
$
202.0
Earnings (loss) per common share:
Continuing operations - Basic
$
0.25
$
0.20
$
0.70
$
0.55
Discontinued operations - Basic
(0.02
)
(0.03
)
(0.02
)
(0.04
)
Net income - Basic
$
0.23
$
0.17
$
0.68
$
0.51
Continuing operations - Diluted
$
0.24
$
0.20
$
0.69
$
0.55
Discontinued operations - Diluted
(0.02
)
(0.03
)
(0.02
)
(0.04
)
Net income - Diluted
$
0.22
$
0.17
$
0.67
$
0.51
Weighted-average common shares outstanding:
Basic
385,982,038
396,411,904
387,976,602
396,498,984
Diluted
389,629,216
399,048,949
392,300,262
400,106,225
The notes accompanying our consolidated financial statements in our Form 10-Q for the second quarter of fiscal 2026 are an integral part of these consolidated financial statements.
LEVI STRAUSS & CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Ended
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Cash Flows from Operating Activities:
Net income
$
263.1
$
202.0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
112.8
99.6
Property, plant, equipment impairment, and early lease terminations, net
0.9
14.8
Gain on sale of business, prior to costs to sell
(33.6
)
—
Gain on sale of assets
—
(8.5
)
Stock-based compensation
40.1
44.2
Deferred income taxes
(2.0
)
(17.2
)
Other, net
(7.3
)
7.6
Net change in operating assets and liabilities
108.3
(104.5
)
Net cash provided by operating activities
482.3
238.0
Cash Flows from Investing Activities:
Proceeds from sale of business
96.3
—
Purchases of property, plant and equipment
(99.3
)
(106.1
)
Net proceeds from sales of assets
—
22.3
(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net
(5.1
)
36.6
Payments to acquire short-term investments
(87.6
)
(83.5
)
Proceeds from sale, maturity and collection of short-term investments
50.6
1.0
Other investing activities, net
(6.4
)
—
Net cash used for investing activities
(51.5
)
(129.7
)
Cash Flows from Financing Activities:
Accelerated share repurchase, including excise tax
(201.0
)
—
Repurchase of common stock
—
(30.5
)
Tax withholdings on equity awards
(31.7
)
(18.5
)
Dividends to stockholders
(107.7
)
(102.8
)
Other financing activities, net
(0.5
)
(0.6
)
Net cash used for financing activities
(340.9
)
(152.4
)
Effect of exchange rate changes on cash and cash equivalents and restricted cash
1.5
7.7
Net increase (decrease) in cash and cash equivalents and restricted cash
91.4
(36.4
)
Beginning cash and cash equivalents
757.9
690.0
Ending cash and cash equivalents
$
849.3
$
653.6
Noncash Investing Activity:
Property, plant and equipment acquired and not yet paid at end of period
$
37.9
$
50.5
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes during the period, net of refunds
$
105.0
$
84.4
____________
Consolidated statements of cash flows include the cash flows from continuing and discontinued operations.
The notes accompanying our consolidated financial statements in our Form 10-Q for the second quarter of fiscal 2026 are an integral part of these consolidated financial statements.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
FOR THE SECOND QUARTER AND FISCAL YEAR 2026
The following information relates to non-GAAP financial measures, and should be read in conjunction with the investor call held on July 8, 2026, discussing the company’s financial condition and results of operations as of and for the quarter ended May 31, 2026. Because the results of our Dockers® business are classified as discontinued operations, those results are not reflected in our non-GAAP measures.
In the table below, we define the following non-GAAP measures:
Most comparable GAAP measure
Non-GAAP measure
Non-GAAP measure definition
Selling, general and administrative expenses (“SG&A”)
Adjusted SG&A
SG&A excluding goodwill impairment charges and restructuring related charges and other, net
SG&A margin
Adjusted SG&A margin
Adjusted SG&A as a percentage of net revenues
Net income from continuing operations
Adjusted EBIT
Net income from continuing operations excluding income tax expense, interest expense, other (income) expense, net, goodwill impairment charges, restructuring charges, net, and restructuring related charges and other, net
Net income margin from continuing operations
Adjusted EBIT margin
Adjusted EBIT as a percentage of net revenues
Net income from continuing operations
Adjusted EBITDA
Adjusted EBIT excluding depreciation and amortization expense
Net income from continuing operations
Adjusted net income
Net income from continuing operations excluding goodwill impairment charges, restructuring charges, net, restructuring related charges and other, net, and gain on legal settlement adjusted to give effect to the income tax impact of such adjustments
Net income margin from continuing operations
Adjusted net income margin
Adjusted net income as a percentage of net revenues
Diluted earnings per share from continuing operations
Adjusted diluted earnings per share
Adjusted net income per weighted-average number of diluted common shares outstanding
Adjusted SG&A:
The following table presents a reconciliation of SG&A, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted SG&A for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Most comparable GAAP measure:
Selling, general and administrative expenses
$
843.4
$
791.0
$
1,715.1
$
1,540.3
Non-GAAP measure:
Selling, general and administrative expenses
$
843.4
$
791.0
$
1,715.1
$
1,540.3
Goodwill impairment charges(1)
—
—
—
(2.5
)
Restructuring related charges and other, net(2)
(5.5
)
(4.5
)
(16.7
)
(7.7
)
Adjusted SG&A
$
837.9
$
786.5
$
1,698.4
$
1,530.1
SG&A margin
54.0
%
54.7
%
51.9
%
51.8
%
Adjusted SG&A margin
53.6
%
54.4
%
51.4
%
51.5
%
_____________
(1)
For the six-month period ended June 1, 2025, goodwill impairment charges includes the recognition of a $2.5 million goodwill impairment charge related to our business in Bolivia.
(2)
For the three-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, and other expenses. For the six-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, attorney fees related to a gain on legal settlements of $10.0 million, and other expenses.
For the three-month and six-month periods ended June 1, 2025, restructuring related charges and other, net primarily relates to consulting costs associated with our restructuring initiative of $3.6 million and $5.7 million, respectively.
Adjusted EBIT and Adjusted EBITDA:
The following table presents a reconciliation of net income from continuing operations, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted EBIT and Adjusted EBITDA for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Most comparable GAAP measure:
Net income from continuing operations
$
94.8
$
79.6
$
271.9
$
219.8
Non-GAAP measure:
Net income from continuing operations
$
94.8
$
79.6
$
271.9
$
219.8
Income tax expense
27.4
22.9
78.5
59.3
Interest expense
12.9
11.8
26.0
22.7
Other (income) expense, net
(12.9
)
(6.3
)
(55.5
)
(2.2
)
Goodwill impairment charges(1)
—
—
—
2.5
Restructuring charges, net(2)
13.5
6.8
21.4
13.5
Restructuring related charges and other, net(3)
5.5
4.5
16.7
7.7
Adjusted EBIT
$
141.2
$
119.3
$
359.0
$
323.3
Depreciation and amortization
57.1
50.3
112.4
99.5
Adjusted EBITDA
$
198.3
$
169.6
$
471.4
$
422.8
Net income margin from continuing operations
6.1
%
5.5
%
8.2
%
7.4
%
Adjusted EBIT margin
9.0
%
8.3
%
10.9
%
10.9
%
____________
(1)
For the six-month period ended June 1, 2025, goodwill impairment charges includes the recognition of a $2.5 million goodwill impairment charge related to our business in Bolivia.
(2)
For the three-month and six-month periods ended May 31, 2026, restructuring charges, net consists primarily of $10.1 million and $18.4 million of severance and post-employment benefit charges, respectively, as well as asset impairment charges related to decision to discontinue certain technology projects, and contract termination costs.
For the three-month period ended June 1, 2025, restructuring charges, net includes $6.8 million in connection with Project Fuel consisting of $7.2 million of asset impairment in connection with the closures of distribution centers, $6.8 million of severance and other post-employment benefit charges, and $2.1 million of contract terminations and other costs, partially offset by a $9.3 million gain on the sale of a previously closed distribution center.
For the six-month period ended June 1, 2025, restructuring charges, net includes $13.5 million in connection with Project Fuel consisting of $9.2 million of asset impairment in connection with the closures of distribution centers, $9.7 million of severance and other post-employment benefit charges, and $3.9 million of contract terminations and other costs, partially offset by a $9.3 million gain on the sale of a previously closed distribution center.
(3)
For the three-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, and other expenses. For the six-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, attorney fees related to a gain on legal settlements of $10.0 million, and other expenses.
For the three-month and six-month periods ended June 1, 2025, restructuring related charges and other, net primarily relates to consulting costs associated with our restructuring initiative of $3.6 million and $5.7 million, respectively.
Adjusted Net Income:
The following table presents a reconciliation of net income from continuing operations, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted net income for each of the periods presented.
Three Months Ended
Six Months Ended
Twelve Months Ended
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Most comparable GAAP measure:
Net income from continuing operations
$
94.8
$
79.6
$
271.9
$
219.8
$
554.1
$
422.8
Non-GAAP measure:
Net income from continuing operations
$
94.8
$
79.6
$
271.9
$
219.8
$
554.1
$
422.8
Property, plant and equipment impairment
—
—
—
—
—
11.1
Goodwill and other intangible asset impairment charges(1)
—
—
—
2.5
—
113.9
Restructuring charges, net(2)
13.5
6.8
21.4
13.5
32.4
30.9
Restructuring related charges and other, net(3)
5.8
4.5
17.2
7.7
25.2
43.4
Loss on early extinguishment of debt
—
—
—
—
1.5
—
Gain on legal settlement
—
—
(33.0
)
—
(33.0
)
—
Tax impact of adjustments(4)
(4.3
)
(2.4
)
(1.0
)
(5.0
)
(5.1
)
(50.0
)
Adjusted net income
$
109.8
$
88.5
$
276.5
$
238.5
$
575.1
$
572.1
Net income margin from continuing operations
6.1
%
5.5
%
8.2
%
7.4
%
Adjusted net income margin
7.0
%
6.1
%
8.4
%
8.0
%
_____________
(1)
For the six-month period ended June 1, 2025, goodwill impairment charges includes the recognition of a $2.5 million goodwill impairment charge related to our business in Bolivia.
(2)
For the three-month and six-month periods ended May 31, 2026, restructuring charges, net consists primarily of $10.1 million and $18.4 million of severance and post-employment benefit charges, respectively, as well as asset impairment charges related to decision to discontinue certain technology projects, and contract termination costs.
For the three-month period ended June 1, 2025, restructuring charges, net includes $6.8 million in connection with Project Fuel consisting of $7.2 million of asset impairment in connection with the closures of distribution centers, $6.8 million of severance and other post-employment benefit charges, and $2.1 million of contract terminations and other costs, partially offset by a $9.3 million gain on the sale of a previously closed distribution center.
For the six-month period ended June 1, 2025, restructuring charges, net includes $13.5 million in connection with Project Fuel consisting of $9.2 million of asset impairment in connection with the closures of distribution centers, $9.7 million of severance and other post-employment benefit charges, and $3.9 million of contract terminations and other costs, partially offset by a $9.3 million gain on the sale of a previously closed distribution center.
(3)
For the three-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, and other expenses. For the six-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, attorney fees related to a gain on legal settlements of $10.0 million, and other expenses.
For the three-month and six-month periods ended June 1, 2025, restructuring related charges and other, net primarily relates to consulting costs associated with our restructuring initiative of $3.6 million and $5.7 million, respectively.
(4)
Tax impact calculated using the annual effective tax rate, excluding discrete costs and benefits.
Adjusted Diluted Earnings per Share:
The following table presents a reconciliation of diluted earnings per share from continuing operations, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted diluted earnings per share for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
(Unaudited)
Most comparable GAAP measure:
Diluted earnings per share from continuing operations
$
0.24
$
0.20
$
0.69
$
0.55
Non-GAAP measure:
Diluted earnings per share from continuing operations
$
0.24
$
0.20
$
0.69
$
0.55
Goodwill impairment charges(1)
—
—
—
0.01
Restructuring charges, net(2)
0.03
0.02
0.05
0.03
Restructuring related charges and other, net(3)
0.02
0.01
0.04
0.02
Gain on legal settlement
—
—
(0.08
)
—
Tax impact of adjustments(4)
(0.01
)
(0.01
)
—
(0.01
)
Adjusted diluted earnings per share
$
0.28
$
0.22
$
0.70
$
0.60
_____________
(1)
For the six-month period ended June 1, 2025, goodwill impairment charges includes the recognition of a $2.5 million goodwill impairment charge related to our business in Bolivia.
(2)
For the three-month and six-month periods ended May 31, 2026, restructuring charges, net consists primarily of $10.1 million and $18.4 million of severance and post-employment benefit charges, respectively, as well as asset impairment charges related to decision to discontinue certain technology projects, and contract termination costs.
For the three-month period ended June 1, 2025, restructuring charges, net includes $6.8 million in connection with Project Fuel consisting of $7.2 million of asset impairment in connection with the closures of distribution centers, $6.8 million of severance and other post-employment benefit charges, and $2.1 million of contract terminations and other costs, partially offset by a $9.3 million gain on the sale of a previously closed distribution center.
For the six-month period ended June 1, 2025, restructuring charges, net includes $13.5 million in connection with Project Fuel consisting of $9.2 million of asset impairment in connection with the closures of distribution centers, $9.7 million of severance and other post-employment benefit charges, and $3.9 million of contract terminations and other costs, partially offset by a $9.3 million gain on the sale of a previously closed distribution center.
(3)
For the three-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, and other expenses. For the six-month period ended May 31, 2026, restructuring related charges and other, net consists primarily of consulting fees associated with our restructuring activities, legal claims, attorney fees related to a gain on legal settlements of $10.0 million, and other expenses.
For the three-month and six-month periods ended June 1, 2025, restructuring related charges and other, net primarily relates to consulting costs associated with our restructuring initiative of $3.6 million and $5.7 million, respectively.
(4)
Tax impact calculated using the annual effective tax rate, excluding discrete costs and benefits.
Adjusted Free Cash Flow:
Adjusted free cash flow, a non-GAAP financial measure, includes net cash flow from operating activities less purchases of property, plant and equipment from continuing and discontinued operations. This measure therefore includes the results of our Dockers® business, which is classified as discontinued operations. We believe Adjusted free cash flow is an important liquidity measure of the cash that is available after capital expenditures for operational expenses and investment in our business. We believe Adjusted free cash flow is useful to investors because it measures our ability to generate or use cash. Once our business needs and obligations are met, cash can be used to maintain a strong balance sheet, invest in future growth and return capital to stockholders.
The following table presents a reconciliation of net cash flow from operating activities, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted free cash flow for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Most comparable GAAP measure:
Net cash provided by operating activities
$
270.8
$
185.5
$
482.3
$
238.0
Net cash used for investing activities
(77.8
)
(58.6
)
(51.5
)
(129.7
)
Net cash used for financing activities
(56.8
)
(54.9
)
(340.9
)
(152.4
)
Non-GAAP measure:
Net cash provided by operating activities
$
270.8
$
185.5
$
482.3
$
238.0
Purchases of property, plant and equipment
(39.9
)
(39.5
)
(99.3
)
(106.1
)
Adjusted free cash flow
$
230.9
$
146.0
$
383.0
$
131.9
Return on Invested Capital:
We define Return on invested capital (“ROIC”) as the trailing four quarters of Adjusted net income before interest and after taxes divided by the average trailing five quarters of total invested capital. We define total invested capital as total debt plus shareholders' equity less cash and short-term investments. We believe ROIC is useful to investors as it quantifies how efficiently we generated operating income relative to the capital we have invested in the business.
Our calculation of ROIC is considered a non-GAAP financial measure because we calculate ROIC using the non-GAAP metric Adjusted net income. Although ROIC is a standard financial metric, numerous methods exist for calculating a company's ROIC. As a result, the method we use to calculate our ROIC may differ from the methods used by other companies. This metric is not defined by GAAP and should not be considered as an alternative to earnings measures defined by GAAP.
The table below sets forth the calculation of ROIC for each of the periods presented.
Trailing Four Quarters
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Net income from continuing operations
$
554.1
$
422.8
Numerator
Adjusted net income(1)
$
575.1
$
572.1
Interest expense
51.8
44.3
Adjusted income tax expense
156.2
124.4
Adjusted net income before interest and taxes
783.1
740.8
Income tax adjustment(2)
(167.2
)
(132.3
)
Adjusted net income before interest and after taxes
$
615.9
$
608.5
Average Trailing Five Quarters
May 31,
2026
June 1,
2025
(Dollars in millions)
(Unaudited)
Denominator
Total debt, including operating lease liabilities
$
2,365.1
$
2,193.2
Shareholders' equity
2,154.7
1,867.0
Cash and short-term investments
(718.0
)
(627.3
)
Total invested Capital
$
3,801.8
$
3,432.9
Net income to total invested capital
14.6
%
12.3
%
Return on invested capital
16.2
%
17.7
%
Organic Net Revenues:
The table below sets forth the calculation of net revenues by segment on an organic net revenues basis for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
% Increase
(Decrease)
May 31,
2026
June 1,
2025
% Increase
(Decrease)
(Dollars in millions)
(Unaudited)
Total net revenues(1)
As reported
$
1,562.0
$
1,446.0
8.0
%
$
3,304.5
$
2,972.8
11.2
%
Impact of foreign currency exchange rates
—
31.6
—
102.4
Net revenues from Denizen® wind down(2)
—
—
—
(2.3
)
Organic net revenues
$
1,562.0
$
1,477.6
5.7
%
$
3,304.5
$
3,072.9
7.5
%
Americas
As reported
$
815.5
$
748.4
9.0
%
$
1,671.2
$
1,531.4
9.1
%
Impact of foreign currency exchange rates
—
15.5
—
33.9
Net revenues from Denizen® wind down(2)
—
—
—
(2.3
)
Organic net revenues - Americas
$
815.5
$
763.9
6.8
%
$
1,671.2
$
1,563.0
6.9
%
Europe
As reported
$
420.2
$
403.1
4.2
%
$
916.2
$
803.6
14.0
%
Impact of foreign currency exchange rates
—
20.3
—
71.6
Organic net revenues - Europe
$
420.2
$
423.4
(0.8
)%
$
916.2
$
875.2
4.7
%
Asia
As reported
$
283.7
$
257.7
10.1
%
$
631.2
$
565.8
11.6
%
Impact of foreign currency exchange rates
—
(4.2
)
—
(3.1
)
Organic net revenues - Asia
$
283.7
$
253.5
11.9
%
$
631.2
$
562.7
12.2
%
Beyond Yoga®
As reported
$
42.6
$
36.8
15.8
%
$
85.9
$
72.0
19.3
%
Organic net revenues - Beyond Yoga®
$
42.6
$
36.8
15.8
%
$
85.9
$
72.0
19.3
%
The table below sets forth the calculation of net revenues by channel on an organic net revenues basis for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
% Increase
(Decrease)
May 31,
2026
June 1,
2025
% Increase
(Decrease)
(Dollars in millions)
(Unaudited)
Total net revenues(1)
As reported
$
1,562.0
$
1,446.0
8.0
%
$
3,304.5
$
2,972.8
11.2
%
Impact of foreign currency exchange rates
—
31.6
—
102.4
Net revenues from Denizen® wind down(2)
—
—
—
(2.3
)
Organic net revenues
$
1,562.0
$
1,477.6
5.7
%
$
3,304.5
$
3,072.9
7.5
%
Wholesale
As reported
$
768.4
$
729.9
5.3
%
$
1,599.4
$
1,469.2
8.9
%
Impact of foreign currency exchange rates
—
15.6
—
45.1
Net revenues from Denizen® wind down(2)
—
—
—
(2.3
)
Organic net revenues - Wholesale
$
768.4
$
745.5
3.1
%
$
1,599.4
$
1,512.0
5.8
%
DTC
As reported
$
793.6
$
716.1
10.8
%
$
1,705.1
$
1,503.6
13.4
%
Impact of foreign currency exchange rates
—
16.0
—
57.3
Organic net revenues - DTC
$
793.6
$
732.1
8.4
%
$
1,705.1
$
1,560.9
9.2
%
The table below sets forth the calculation of net revenues by brand on an organic net revenues basis for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
% Increase
(Decrease)
May 31,
2026
June 1,
2025
% Increase
(Decrease)
(Dollars in millions)
(Unaudited)
Total Levi’s Brands net revenues
As reported
$
1,519.4
$
1,409.2
7.8
%
$
3,218.6
$
2,900.8
11.0
%
Impact of foreign currency exchange rates
—
31.6
—
102.4
Net revenues from Denizen® wind down(1)
—
—
—
(2.3
)
Organic net revenues
$
1,519.4
$
1,440.8
5.5
%
$
3,218.6
$
3,000.9
7.3
%
Levi’s®
As reported
$
1,462.1
$
1,352.8
8.1
%
$
3,095.6
$
2,785.6
11.1
%
Impact of foreign currency exchange rates
—
31.4
—
102.0
Organic net revenues - Levi’s®
$
1,462.1
$
1,384.2
5.6
%
$
3,095.6
$
2,887.6
7.2
%
Levi Strauss SignatureTM
As reported
$
57.3
$
56.4
1.6
%
$
123.0
$
112.9
8.9
%
Impact of foreign currency exchange rates
—
0.2
—
0.4
Organic net revenues - Levi Strauss SignatureTM
$
57.3
$
56.6
1.2
%
$
123.0
$
113.3
8.6
%
Constant-Currency Adjusted EBIT and Constant-Currency Adjusted EBIT margin:
The table below sets forth the calculation of Adjusted EBIT and Adjusted EBIT margin on a constant-currency basis for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
% Increase (Decrease)
May 31,
2026
June 1,
2025
% Increase (Decrease)
(Dollars in millions)
(Unaudited)
Adjusted EBIT(1)
$
141.2
$
119.3
18.4
%
$
359.0
$
323.3
11.0
%
Impact of foreign currency exchange rates
—
5.6
*
—
22.9
*
Constant-currency Adjusted EBIT
$
141.2
$
124.9
13.1
%
$
359.0
$
346.2
3.7
%
Adjusted EBIT margin
9.0
%
8.3
%
8.4
%
10.9
%
10.9
%
—
%
Impact of foreign currency exchange rates
—
0.2
*
—
0.4
*
Constant-currency Adjusted EBIT margin(2)
9.0
%
8.5
%
5.9
%
10.9
%
11.3
%
(3.5
)%
Constant-Currency Adjusted Net Income and Constant-Currency Adjusted Diluted Earnings per Share:
The table below sets forth the calculation of Adjusted net income and Adjusted diluted earnings per share on a constant-currency basis for each of the periods presented.
Three Months Ended
Six Months Ended
May 31,
2026
June 1,
2025
% Increase (Decrease)
May 31,
2026
June 1,
2025
% Increase (Decrease)
(Dollars in millions, except per share amounts)
(Unaudited)
Adjusted net income(1)
$
109.8
$
88.5
24.1
%
$
276.5
$
238.5
15.9
%
Impact of foreign currency exchange rates
—
2.2
*
—
8.2
*
Constant-currency Adjusted net income
$
109.8
$
90.7
21.1
%
$
276.5
$
246.7
12.1
%
Constant-currency Adjusted net income margin(2)
7.0
%
6.1
%
8.4
%
8.0
%
Adjusted diluted earnings per share
$
0.28
$
0.22
27.3
%
$
0.70
$
0.60
16.7
%
Impact of foreign currency exchange rates
—
0.01
*
—
0.02
*
Constant-currency Adjusted diluted earnings per share
Levi Strauss beat Wall Street's quarterly expectations on the top and bottom lines on Wednesday, leading the retailer to increase its guidance and its dividend.
The denim maker is now expecting full-year adjusted earnings per share to be between $1.46 and $1.52, up from a prior range of between $1.42 and $1.48. At the high end, that's ahead of expectations of $1.50 per share, according to LSEG.
Levi also raised its top-line outlook and is now expecting full-year sales to rise between 7% and 7.5%, compared with a prior range of between 5.5% and 6.5%. That's ahead of expectations of 6.6%, according to LSEG. About half of that growth is expected to come from higher prices and the other half is expected to come from unit sales, said finance chief Harmit Singh.
Here's how Levi did in its second fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
Earnings per share: 28 cents adjusted vs. 24 cents expectedRevenue: $1.56 billion vs. $1.52 billion expectedDespite the results, Levi's shares dropped more than 5% in extended trading.
The company's reported net income for the three-month period that ended May 31 was $87.3 million, or 22 cents per share, compared with $67 million, or 17 cents per share, a year earlier.
Sales rose to $1.56 billion, up about 8% from $1.45 billion a year earlier.
In an interview with CNBC, CEO Michelle Gass said the company's core consumer is proving to be resilient — even in the face of higher gas prices. She said about two-thirds of the quarter's sales growth came from units — not just higher prices — giving the company the confidence to raise guidance and its dividend.
"Our demand remains healthy," Gass said. "We're seeing strength across our key segments of consumers, so we have our core Levi's, but we're also seeing strength in signature, as well as our new premium blue tab."
The apparel company again raised its full-year guidance after posting higher second-quarter sales as it continues efforts to broaden its offerings and focus on its direct-to-consumer business.
Levi Strauss (LEVI) shares recently tapped highs not seen since January 2022, but as Rick Ducat points out, bulls recently struggled to break above a key resistance level. He walks investors through his technical analysis in Levi ahead of earnings and offers an example options trade for the staple clothing brand.
Wall Street enters the week with investors focused on the start of the second-quarter earnings season, the Federal Reserve's latest meeting minutes and a handful of economic releases that could offer fresh insight into the outlook for interest rates, economic growth and the artificial intelligence-driven rally that has powered US equities.
The week's key events include Wednesday's release of the minutes from the Federal Open Market Committee's June meeting, the ISM services purchasing managers index, earnings from companies including PepsiCo Inc (NASDAQ:PEP, XETRA:PEP) and Levi Strauss & Co (NYSE:LEVI), as well as several developments in the semiconductor industry that could influence sentiment toward AI-related stocks.
Kathleen Brooks, research director at XTB, said the Fed minutes will be one of the week's main catalysts as investors look for evidence of how policymakers are weighing persistent inflation risks against signs of a slowing labor market. She said the minutes could shed more light on the divide between officials focused on inflation and those increasingly concerned about employment.
Brooks also said Treasury markets will remain in focus after yields rose last week, noting investors will be watching whether bond markets reverse course as trading resumes following the July 4 holiday.
Technology stocks are expected to remain under close scrutiny after volatility emerged in the semiconductor sector. Brooks said last week's selloff raised questions about whether the rapid pace of AI infrastructure spending is beginning to slow, citing reports that Apple could source memory chips from China and Meta's decision to begin selling AI computing capacity.
However, she said the recent weakness appears to be a pullback rather than a broader reversal, pointing out that semiconductor stocks have posted substantial gains this year. Brooks added that earnings and forward guidance from Samsung Electronics (KRX:005930) this week will be closely watched, as strong demand forecasts from one of Nvidia Corp (NASDAQ:NVDA, XETRA:NVD)'s key suppliers could help restore confidence in the AI investment cycle.
Outside the technology sector, Brooks said investors will also be monitoring the ISM services index for signs of how the broader US economy is performing beyond the AI-driven investment boom. She said particular attention will be paid to the employment and new orders components, with weaker readings potentially reinforcing concerns about slowing economic activity.
Ipek Ozkardeskaya, senior analyst at Swissquote, also expects technology valuations to remain a central market theme this week. She said investors will continue debating whether the sector's strong gains remain supported by fundamentals or whether valuations are becoming stretched.
She pointed to SpaceX Corp (NASDAQ:SPCX)'s addition to the Nasdaq-100 index as another event likely to attract investor attention, saying the company's inclusion and the start of Wall Street research coverage following the end of its quiet period could increase volatility in the index. Ozkardeskaya said SpaceX's high valuation, concentrated ownership structure and relatively limited public float may fuel further debate about the composition of major US equity benchmarks.
Alongside the Fed minutes, investors will also hear from several Federal Reserve officials during the week. According to Deutsche Bank economists, speeches from Governor Christopher Waller, New York Fed President John Williams and Dallas Fed President Lorie Logan will be monitored for clues on how policymakers are interpreting recent economic data and whether Chair Kevin Warsh's preference for less forward guidance is leading to a more restrained approach to Fed communications.
Deutsche Bank said the relatively light economic calendar means monetary policy messaging could have an outsized influence on markets, with investors looking for any indication of how officials' views on inflation, growth and the labor market are evolving heading into the second half of the year.
Key Takeaways Levi Strauss likely benefited from omnichannel initiatives, brand strength and growth in its DTC business. LEVI expected Q2 reported revenue growth of 4-5% and adjusted EBIT margin of 8-9%. Levi Strauss continued to face supply-chain, inflation and foreign exchange pressures on profitability. Levi Strauss & Co. (LEVI - Free Report) is likely to register top and-bottom line growth when it reports second-quarter fiscal 2026 earnings on July 8, before market open. The Zacks Consensus Estimate for revenues is $1.52 billion, which indicates a rise of 4.8% from the year-ago quarter’s level.
The consensus estimate for quarterly earnings has been stable over the past 30 days at 24 cents per share and indicates a rise of 9.1% from the year-earlier quarter’s tally.
The company has an average trailing four-quarter earnings surprise of 21.4%. It delivered an earnings surprise of 13.5% in the last reported quarter.
Factors Likely to Influence LEVI’s Q2 ResultsLevi Strauss’ quarterly performance is likely to have benefited from omnichannel initiatives and brand strength, including jeanswear. The company has been strengthening its omni capabilities, including Buy Online, Pick-up in Store, line-queuing, same-day delivery, mobile checkout and return capabilities, including contactless returns. This ensures a seamless shopping experience for customers across online and offline channels.
The company is expanding its premium product offerings to attract higher-income consumers while maintaining value-oriented options for price-conscious shoppers. At the same time, Levi Strauss is streamlining its brand portfolio by placing greater emphasis on its flagship Levi's brand and other high-growth categories. The company continues to elevate its brands, invest in digital capabilities and diversify across geographies, product categories and distribution channels. These strategic initiatives, coupled with the strength of its direct-to-consumer business, are likely to have supported its quarterly performance. Such strengths, along with its solid direct-to-consumer business, are likely to have bolstered the quarterly performance.
On its last earnings call, management had expected reported revenues to grow in the range of 4-5% for the second quarter and organic growth of 3-4%. The company’s mitigation efforts are likely to have fully offset the tariff impacts. It had anticipated an adjusted EBIT margin in the range of 8-9%, with EPS of 22-24 cents.
The Zacks Consensus Estimate for quarterly revenues is currently pegged at $785 million for Americas, $424 million for Europe and $275 million for Asia, indicating respective increases of 4.9%, 5.2% and 6.6% year over year.
However, a challenging operating backdrop, including supply-chain disruptions, inflationary pressures and foreign currency translations, is likely to have been a concern. These headwinds, coupled with deleveraged selling, general and administrative costs, are expected to have somewhat weighed on the company’s profitability. Management had earlier projected the gross margin to be slightly down owing to unfavorable foreign exchange.
What the Zacks Model PredictsOur proven model doesn’t conclusively predict an earnings beat for Levi Strauss this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Levi Strauss has an Earnings ESP of -3.36% and a Zacks Rank of 2.
Valuation Picture of LEVI StockWith a forward 12-month price-to-earnings ratio of 15.30x, which is below the five-year high of 22.86x but above the Retail - Apparel and Shoes industry’s average of 14.33x, the stock is trading slightly higher than its industry. Additionally, the stock has a Value Score of B.
The recent market movements show that Levi’s shares have gained 14.6% in the past six months against the industry's 10% decline.
Stocks With The Favorable CombinationHere are a few companies, which according to our model, have the right combination of elements to come up with an earnings beat this reporting cycle:
Tapestry, Inc. (TPR - Free Report) has an Earnings ESP of +3.42% and a Zacks Rank of 1. TPR is likely to register a top and bottom-line increase when it reports fourth-quarter fiscal 2026 numbers. The Zacks Consensus Estimate for quarterly EPS of $1.23 suggests an increase of 18.3% from the year-ago fiscal quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for quarterly revenues is pegged at $1.87 billion, suggesting growth of 8.3% from the prior-year fiscal quarter’s reported figure. TPR has a trailing four-quarter earnings surprise of 15.6%, on average.
Wingstop Inc. (WING - Free Report) currently has an Earnings ESP of +0.23% and a Zacks Rank of 3. WING is likely to register a bottom-line increase when it reports fourth-quarter 2026 numbers. The Zacks Consensus Estimate for quarterly EPS of $1.02 suggests an increase of 2% from the year-ago fiscal quarter’s reported number.
WING’s top line is expected to have improved from the prior-year fiscal quarter’s reported number. The consensus estimate for quarterly revenues is pegged at $190.3 million, suggesting growth of 9.1% from the prior-year fiscal quarter’s reported figure. WING has a trailing four-quarter earnings surprise of 17%, on average.
Designer Brands Inc. (DBI - Free Report) currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The company is expected to have registered a top-line increase when it reports second-quarter fiscal 2026 results. The consensus mark for revenues is pegged at $743 million, indicating a rise of 0.4% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for quarterly EPS of 25 cents suggests a drop of 26.5% from the year-ago quarter. DBI has a trailing four-quarter earnings surprise of 112.8%, on average.
Iconic apparel brands that have historically been more popular with men are turning to women to help drive a new leg of growth.
The CEOs of Timberland owner VF Corp., Levi's, and Columbia Sportswear have all recently highlighted women as a key focus as they look to boost revenues and broaden their customer bases.
The opportunity is sizable. Needham analyst Tom Nikic estimates the U.S. women's apparel market is roughly 70% larger than the men's apparel market. In other words, women spend substantially more on clothing than men.
"If you're skewing very heavily towards men, then you're essentially leaving behind half the population," Nikic told CNBC.
The efforts at VF Corp., Levi's, and Columbia reflect a broader trend across the apparel industry as brands search for growth in an increasingly competitive market, according to analysts. While these companies have sold women's clothes and shoes for decades, executives are increasingly treating female consumers as a strategic priority rather than simply another customer segment.
For investors, the appeal is straightforward. Winning over more female shoppers allows brands to expand their addressable market without having to embark on a radical pivot.
"There was no good structural reason why some of these brands should skew as heavily male as they did," Nikic said. "If they can successfully grow with women while maintaining strength with men, that's a significant opportunity."
VF Corp. CEO Bracken Darrell, who took over three years ago to reinvigorate the company after a period of declining sales, described women as a major "unlock" for several of its brands, including Vans, The North Face, Timberland, and shoe maker Altra Running.
Darrell said the opportunity stems from both women's growing purchasing power and their influence on broader consumer trends.
"Women have influenced men's choices in a bigger way than a lot of us who ran predominantly men's brands gave credit for," Darrell said in an interview. "We always had opportunities across all our brands that were bigger for us if we tried to get in with women."
VF is incorporating that focus into more product development across its portfolio. Vans, a hallmark of skateboard culture, has introduced more women's apparel, pearlized footwear and shoe jewelry. Known for its iconic yellow boot, Timberland has expanded its lineup with products such as its Stone Street platform boots and other women's-focused silhouettes, leaning into elevated designs as it looks to broaden its appeal among female shoppers.
At The North Face, the company has collaborated with Kim Kardashian's Skims and other fashion brands, while also expanding its offerings for female outdoor enthusiasts. Its Advanced Mountain Kit line, one of the brand's premium performance collections, now includes a full women's assortment.
The North Face is the company's "single biggest opportunity with women," Darrell said. It's also the company's largest brand by revenue, accounting for roughly 42% of its $9.6 billion in fiscal 2026 sales.
"We believe North Face can double from $4 billion to $8 billion over some time frame," he said, estimating that women could account for more than $2 billion of that potential growth.
The focus on women could also play a role in helping Vans return to sustainable growth, according to Jefferies analyst Blake Anderson. He said younger women can act as "strong brand advocates and trendsetters," helping drive awareness through social media and online shopping channels.
Vans brand has struggled for years, predating Darrell's arrival. But revenue trends are improving. Sales on a constant-currency basis fell 11% in VF's fiscal year ended in March, compared with 15% and 27% in fiscal 2025 and 2024, respectively. For 2027, the company projects a mid-single decline.
In fiscal 2026, VF broke a streak of three consecutive years of declining companywide sales, with The North Face and Timberland both growing 5% on a constant-currency basis. It's guided for another year of growth in fiscal 2027.
So far in Darrell's tenure, shares of VF are down roughly 7%, when including dividends. That trails State Street's popular retail ETF known as the XRT, which is up 38% in that timeframe. Over the past year, though, the stock has trounced the XRT, returning almost 36% versus roughly 10%.
Levi's has emerged as one of the clearest examples of how expanding into women's apparel can translate into growth.
Former Kohl's CEO Michelle Gass became Levi's chief executive in January 2024 after a year as president. She was tasked with accelerating growth and advancing the company's transition to a direct-to-consumer-first business.
As part of that strategy, Gass made attracting female shoppers a key priority through the company's "Win With Her" initiative, which first launched in Europe and has since expanded more broadly throughout the business. On CNBC's "Mad Money" earlier this year, Gass told Jim Cramer that women's apparel now accounts for 38% of Levi's business, up from roughly a third in 2022. She is targeting a 50-50 revenue split between men and women.
"Women's was up 11% for [2025], and we have a long way to go between 38% and 50%, and that's incremental business for us," Gass said.
On the company's 2026 first-quarter earnings call, Gass said women's apparel grew 13% in the quarter, compared with 7% growth in men's. In its 2025 annual report, Levi's described the category as a "powerful growth engine," and noted that it carries higher gross margins while remaining underpenetrated.
The company has expanded beyond denim into dresses, skirts, tops and lifestyle apparel. It's also increased its marketing efforts, including its high-profile partnership with Beyoncé in 2024.
Levi's has also changed how it merchandises its stores. Women's apparel is now featured prominently at the front of many U.S. locations, supported by mannequins and lifestyle displays designed to showcase complete outfits.
Nikic, the Needham analyst, said Levi's demonstrates how brands can grow their women's businesses without sacrificing momentum among male shoppers.
"The women's business is performing even better, but men's product has continued to sell well," he said. "When you can get balanced growth across both men and women, it obviously does wonders for your P&L and for your stock price."
Shares of Levi's have returned 66%, including dividends, since Gass became CEO in January 2024. In that stretch, the stock has significantly outperformed the XRT's 28% return. It's also narrowly topped the S&P 500's total return of 58%.
Levi's reports its next set of quarterly earnings on Wednesday.
Columbia Sportswear is pursuing a similar strategy.
At a recent investor conference, CEO Tim Boyle pointed to the success of Columbia's Amaze Puff Jacket, a stylish winter coat, as an example of how the company is broadening its appeal beyond clothes and shoes popular for hiking, fishing and more.
"It's highly fashionable," said Boyle, who's been CEO since 1988. "It brought a lot of new people into the brand."
The jacket generated significant social media attention and helped introduce Columbia to consumers who may not have traditionally considered the company a fashion brand, Boyle said.
The company has continued to build on that momentum. During an appearance on CNBC's "Mad Money" in May, Boyle highlighted women's outerwear as a major area of focus, and said Columbia plans to expand the Amaze collection into additional seasons.
Columbia expects sales to grow between 1% to 3% this year, after falling 3% last year on a constant-currency basis. Over the past year, the stock has returned about 1%, trailing the XRT's 10% advance.
The stock performance across the group has been mixed, but their pursuits are aligned.
"Your average woman spends almost twice as much on their closet annually as the average man in the U.S.," Nikic said.
Darrell said that's an opportunity the company can no longer afford to overlook.
"You can't look away from the fact that more than 50% of the population is women, so that's always been a big opportunity for these brands," he said. "Investors should be excited to know that we're not ignoring them, we're going after them."
Wall Street analysts expect Levi Strauss (LEVI - Free Report) to post quarterly earnings of $0.24 per share in its upcoming report, which indicates a year-over-year increase of 9.1%. Revenues are expected to be $1.52 billion, up 4.8% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Levi Strauss metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Total Levi?s Brands Net Revenues' stands at $1.48 billion. The estimate points to a change of +4.8% from the year-ago quarter.
The consensus among analysts is that 'Geographic Revenues- Americas' will reach $778.61 million. The estimate indicates a year-over-year change of +4.1%.
It is projected by analysts that the 'Geographic Revenues- Europe' will reach $422.36 million. The estimate suggests a change of +4.8% year over year.
The collective assessment of analysts points to an estimated 'Geographic Revenues- Asia' of $274.89 million. The estimate indicates a change of +6.5% from the prior-year quarter.
View all Key Company Metrics for Levi Strauss here>>>
Over the past month, Levi Strauss shares have recorded returns of +8.3% versus the Zacks S&P 500 composite's -1.4% change. Based on its Zacks Rank #2 (Buy), LEVI will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Currently, Levi Strauss has an annual dividend yield of 2.26%. That’s a quarterly dividend amount of 14 cents per share (56 cents a year).
To earn $500 monthly from Levi Strauss, start with a yearly target: $6,000 ($500 x 12 months).
Next, we divide this amount by LEVI’s 56-cent dividend: $6,000 / $0.56 = 10,714 shares.
So, an investor would need to own approximately $266,029 worth of Levi Strauss, or 10,714 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.56 = 2,143 shares, or $53,211 to generate a monthly dividend income of $100.
Note that the dividend yield changes on a rolling basis; the dividend payment and the stock price fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
LEVI Price Action: Shares of Levi Strauss gained by 1.4% to close at $24.83 on Tuesday.
Analysts expect the company to report quarterly earnings of 24 cents per share, up from 22 cents per share in the year-ago period. The consensus estimate for Levi Strauss’ quarterly revenue is $1.52 billion. It reported $1.45 billion last year, according to Benzinga Pro.
On June 29, Citigroup analyst Paul Lejuez maintained Levi Strauss at Neutral and raised the price target from $23 to $25.
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Levi Strauss & Co. (NYSE:LEVI) will release its second quarter earnings report after the closing bell on Wednesday, July 8.
Analysts expect the San Francisco, California-based company to report quarterly earnings of 24 cents per share, up from 22 cents per share in the year-ago period. The consensus estimate for Levi Strauss’ quarterly revenue is $1.52 billion. It reported $1.45 billion last year, according to Benzinga Pro.
On April 7, Levi Strauss reported better-than-expected first-quarter financial results and raised its FY26 guidance.
Levi Strauss shares gained 2.3% to close at $24.54 on Friday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying LEVI stock? Here’s what analysts think:
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As people around the world tune into this summer's World Cup, some of the brands generating the most buzz aren't even official sponsors of the tournament.
The list of official sponsors for this year's World Cup, hosted in cities across the U.S., Canada and Mexico, include global household names like Adidas, Coca-Cola and Qatar Airways.
But even before the tournament began, the spotlight fell on companies like Levi Strauss & Co., Taco Bell and Texas-based convenience store chain Buc-ee's. Some have garnered traction on social media for their creative marketing strategies, while others have benefited from organic customer response with the influx of international players and fans.
McDonald's celebrated the tournament with limited-time menu items and cups. Taco Bell leaned into a new campaign to support fans in celebration or support depending on the outcome of a match.
According to marketing research firm WARC Media, advertising spending on this year's World Cup tournament is expected to reach $10.5 billion. That's just below spending for the 2018 World Cup, hosted by Russia, which totaled roughly $12.6 billion.
Market intelligence firm Sensor Tower told CNBC that World Cup advertising spend increased 42% week over week in the days leading up to the first game. The firm tracked that Taco Bell and Duracell have both increased their advertising spend in the past few weeks, though the top 10 World Cup advertisers by spend over the past three months have been sponsors or broadcast partners of the event.
According to market research firm Meltwater, in the ramp-up to the World Cup, non-sponsor brand collaborations generated nearly double the engagement of official sponsors, reaching roughly 61 million engagements versus just 33 million.
The firm told CNBC that while sponsored advertisements led in volume, distribution and creative quality helped propel non-sponsors to higher engagement, with the most social media engagement coming from TikTok.
Since the tournament began, non-sponsor brands have surpassed 57,000 mentions on social media versus just over 43,000 for official sponsors, the company said.
"A big takeaway from this World Cup is that you don't need an official sponsorship to own the cultural moment anymore," Meltwater CEO John Box told CNBC. "The brands that will win the next tournament aren't necessarily the ones with the biggest budgets, but instead the ones who are set up to see what's trending in real time, the creativity to connect it back to your brand, and the speed to act before the moment passes."
World Cup resultsAccording to Meltwater, Coca-Cola and Adidas accounted for half of all sponsor mentions in the buildup to the tournament. But in the final 11 days before the first match on June 11, McDonald's became the clear winner, with engagement share rising from 2.6% to 23%.
Of the non-sponsors, Lego accounted for 82% of the top 50 most engaging non-sponsor posts across social media platforms, Meltwater said. The construction toy company's World Cup campaign delivered 12 times the sponsor average in the days leading up to the tournament.
Nike, who is not an official tournament sponsor, saw its World Cup advertisement — featuring celebrities like Kim Kardashian, Travis Scott and Lebron James as well as scores of World Cup stars like Norway breakout Erling Haaland and Portugal captain Cristiano Ronaldo — rake in more than 70 million views on YouTube.
Sneaker rival Adidas counts roughly 7 million views for its advertisement featuring actor Timothée Chalamet, Argentina captain Lionel Messi and more.
That gap is indicative of the winners and losers of the off-pitch advertising battle during the tournament, according to Andrew Rohm, a professor of marketing at Loyola Marymount University.
"It was just interesting how those two brands took totally different approaches to their four- to five-minute pieces of content, and I loved the Nike approach because it was totally on-brand, irreverent, unexpected, in your face," Rohm told CNBC. "You don't have to be an official sponsor to tie back into the cultural social importance of a worldwide global event like the World Cup, especially if you have assets like Nike has that you can deploy towards that."
When it comes to the advertising winners of this year's World Cup, Rohm said it's a battle between "the expected and the unexpected." The companies that aren't official sponsors and are therefore not restricted by FIFA are able to have the most fun with their marketing, he said.
One brand making the most of its non-sponsor status is denim brand Levi's.
Because the company isn't an official backer of the tournament, its branding on the host stadium in Santa Clara, California, had to be removed before matches.
The Levi's logo, loosely shaped like a jeans pant pocket, was shrouded in a white covering — but the move counterintuitively generated buzz for the company on social media from amused fans. In a similar move, razor brand Gillette's cover for its logo on the stadium in Massachusetts mimicked shaving cream foam to make light of the situation.
"What started as a naming rights sponsorship restriction at the Levi's Stadium became the most commented and shared post in Levi's history," Kenneth Mitchell, Levi's chief marketing officer, wrote last week. "Leaning fully into it with a profile change on our social channels sealed the deal."
Mitchell added that "strong brand iconography" worked on the company's side, as its distinctive logo remained recognizable even under the covering.
According to Meltwater, Levi's led the strongest example of non-sponsor visibility through its marketing, with its mentions increasing by 44% since the start of the World Cup. Engagement with the company increased nearly four times after it leaned into the stadium covering marketing, the research firm found.
A shifting ad strategyJared Watson, an assistant professor of marketing at New York University's Stern School of Business, said he's seen brands having more fun in their marketing during this year's tournament.
"I think what you're seeing play out, especially this year, is these brands that are taking sort of a rebellious or a cheeky approach to where they're not officially being aligned with FIFA, and so a lot of consumers are in support of these marketing initiatives, in part because it feels somewhat adversarial to what's happening," Watson told CNBC. "It's kind of stripping away that capitalistic intention from FIFA."
Watson said brand success has not come from the marketing alone, but also that some companies are picking up on the frustration consumers feel with the commercialization of global soccer.
FIFA introduced mandatory hydration breaks during matches, for example, baking in more time for ads without breaking up the game. The breaks have drawn criticism from fans who say they're unnecessary and a money grab.
"There's a little bit of a stick-it-to-the-man mentality of we like to see these brands that are rebelling and pushing back because it's kind of in the spirit of what the World Cup is, which is unity and meritocracy," Watson said.
FIFA said in December the three-minute breaks were intended to prioritize "player welfare" and "part of a focused attempt to ensure the best possible conditions for players."
Some brands have also found more organic success as fans around the world experience the culture of the World Cup host cities, posting about their newfound affinity for American general store chain Buc-ee's and salad dressing company Hidden Valley Ranch.
"One of the things that we've seen, which I think has helped a lot of brands that maybe hadn't proactively decided to jump into the advertising fray, is we've seen the delight with sort of basic American things," Watson said. "That has allowed a lot of these brands to kind of slipstream or somewhat reactively jump on these trends and gain some earned media."
And in an age of artificial intelligence, marketing that creates an emotional connection and has a human appeal stands out, according to Kelly Cutler, an associate professor of marketing at Northwestern University.
"I think it's particularly timely, because I think people feel a little bit sensitive right now with all of the media around AI and all the discussions around AI," Cutler said. "So that understanding at that human level of how important it is when your team wins or loses is so basic and fundamental and creates such a connection."
Cutler also said the marketing cuts through generations — younger consumers are more aware of when they're being sold to and are more often resistant. Companies that can develop a deeper bond with Generation Z will find the "golden goose of marketing," she said.
For sponsor companies constrained by FIFA regulations, she added, the World Cup may have broader implications for future brand partnerships.
"The organizations, obviously they want those sponsorship dollars, and they don't want to experience this type of situation where the brands that are paying nothing are getting a lot of traction and hitting all the headlines and having these really interesting outcomes," Cutler said. "So I do think that it's going to be interesting to watch how this impacts future sponsorship programming."
SAN FRANCISCO--(BUSINESS WIRE)--Levi Strauss & Co. (NYSE: LEVI) will host a conference call to discuss the company’s financial results for the second quarter ended May 31, 2026. The call will be held on Wednesday, July 8, 2026, at 2 p.m. Pacific Time / 5 p.m. Eastern Time, and will be hosted by Michelle Gass, president and chief executive officer, and Harmit Singh, chief financial and growth officer.
To access the conference call, please pre-register using this link. Registrants will receive an email confirmation with dial-in details.
A live webcast of the event can be accessed using this link. A replay of the webcast will be available on http://investors.levistrauss.com starting approximately two hours after the event and archived on the site for one quarter.
To access the company’s related press release on July 8, 2026, please visit http://investors.levistrauss.com.
About Levi Strauss & Co.
Levi Strauss & Co. (LS&Co.) is one of the world's largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Levi Strauss Signature™, and Beyond Yoga® brands. Its products are sold in approximately 120 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,300 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2025 net revenues were $6.3 billion. For more information, go to http://levistrauss.com, and for financial news and announcements go to http://investors.levistrauss.com.
Levi Strauss & Co. (NYSE: LEVI) will host a conference call to discuss the company’s financial results for the second quarter ended May 31, 2026. The call will be held on Wednesday, July 8, 2026, at 2 p.m. Pacific Time / 5 p.m. Eastern Time, and will be hosted by Michelle Gass, president and chief executive officer, and Harmit Singh, chief financial and growth officer.
To access the conference call, please pre-register using this link. Registrants will receive an email confirmation with dial-in details.
A live webcast of the event can be accessed using this link. A replay of the webcast will be available on http://investors.levistrauss.com starting approximately two hours after the event and archived on the site for one quarter.
To access the company’s related press release on July 8, 2026, please visit http://investors.levistrauss.com.
About Levi Strauss & Co.
Levi Strauss & Co. (LS&Co.) is one of the world's largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Levi Strauss Signature™, and Beyond Yoga®brands. Its products are sold in approximately 120 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,300 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2025 net revenues were $6.3 billion. For more information, go to http://levistrauss.com, and for financial news and announcements go to http://investors.levistrauss.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260624395064/en/
For fans lucky enough to make their way to a World Cup game this season, they might spot cheering fans, overpriced snacks and, of course, soccer. One thing they will not see is logos from non-FIFA sponsors—even if their name is on the stadium.
But one brand is leaning into this limitation.
Due to a “debranding” mandate from FIFA, companies with naming rights to stadiums across the 16 host cities in Mexico, Canada, and the United States are seeing their names and logos temporarily removed from the venues.
Consider MetLife Stadium in New Jersey. Since MetLife is not an official FIFA sponsor, the insurance company’s name was physically covered on the venue, with the stadium renamed after the host city: New York New Jersey Stadium.
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Likewise, Mercedes-Benz’s logo was covered in Atlanta, Gillette’s was covered in the Boston area, and SoFi’s in Los Angeles County.
“Give a raise to the marketing folks”While these companies took the quicker approach, one brand is standing out for embracing the cover-up in its own way.
Levi’s, which holds the naming rights for Levi’s Stadium in Santa Clara (where the San Francisco 49ers play), also had its logo covered up. The venue’s name is being temporarily changed to the San Francisco Bay Area Stadium.
Key Dates and Disclosure Events Shareholders Need to Know
, /PRNewswire/ -- Levi & Korsinsky, LLP encourages investors who suffered losses in Snowflake Inc. (NYSE: SNOW) to contact the firm. WHO IS AFFECTED: Those who purchased SNOW securities between June 27, 2023 and February 28, 2024 may be entitled to recover damages. Find out if you are eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Snowflake shares fell $41.72 per share, an 18.14% decline, after the Company disclosed consumption headwinds and withdrew its $10 billion product revenue target. The window to apply for lead plaintiff closes on April 27, 2026.
June 27, 2023: Investor Day Optimism
Snowflake hosted an Investor Day presentation where management reaffirmed confidence that the Company would reach $10 billion in product revenue by 2029. Management characterized consumption as "back where we'd expect it to be" and portrayed Iceberg Tables as a workload expansion opportunity in "full alignment" with the business model. The lawsuit contends these statements omitted known risks that efficiency gains and new product formats would cannibalize consumption revenue.
August 23, 2023: Q2 Fiscal 2024 Earnings Call
Management described consumption as "good" and told analysts that "stabilization is the right term." The action claims management touted upcoming product launches, including Streamlit, Unistore, and Containerized Services, as catalysts for revenue growth reacceleration, while failing to disclose material headwinds already affecting the consumption model.
November 29, 2023: Q3 Fiscal 2024 Earnings Call
Management reported "strong consumption from a broad base of customers" and highlighted new large-account wins. As alleged, tiered storage pricing had already begun rolling out to the Company's biggest customers, and large customers had already communicated their plans to adopt Iceberg Tables, yet these headwinds were not disclosed.
February 28, 2024: The Corrective Disclosure
After the market closed, Snowflake disclosed Q4 and full fiscal year 2024 results and provided guidance that shocked investors:
Acknowledged "increased revenue headwinds" from product efficiency gains, tiered storage pricing, and Iceberg Table adoption Revealed a 6.2% to 6.3% revenue impact from efficiency gains alone Lowered FY 2025 product revenue guidance to 22% year-over-year growth versus the 30% market expectation Withdrew the long-standing $10 billion 2029 product revenue target Disclosed that tiered storage pricing had started rolling out in Q3 and ramped through Q4 Submit your claim before the deadline or call Joseph E. Levi, Esq. at (212) 363-7500.
"Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology in this case raises questions about the gap between when certain headwinds were known internally and when they were communicated to the investing public." -- Joseph E. Levi, Esq.
ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by April 27, 2026.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Important Information Regarding Section 20(a) Individual Liability Claims
, /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in NuScale Power Corporation (NYSE: SMR) of a pending securities class action naming two senior executives as individual defendants under Section 20(a) of the Securities Exchange Act of 1934. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at [email protected] | (212) 363-7500.
NuScale shares fell from a Class Period high above $57 to just $17, a decline exceeding 70%, allegedly caused by misrepresentations about the Company's exclusive commercialization partner. The Court has set April 20, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
John L. Hopkins, who has served as NuScale's Chief Executive Officer and Board member since December 2012, and Robert Ramsey Hamady, who has served as Chief Financial Officer since August 2023, are both named as individual defendants. The action contends that both executives directly participated in drafting, reviewing, and disseminating statements about ENTRA1 Energy LLC that allegedly misrepresented the partner's experience and capabilities in nuclear power plant development.
Section 20(a) Control Person Framework
The lawsuit asserts control person liability under Section 20(a) against Hopkins and Hamady based on their senior positions, their direct involvement in public communications with investors and analysts, and their authority over NuScale's SEC filings, press releases, and conference call statements throughout the Class Period of May 13, 2025 through November 6, 2025.
Alleged Control Person Liability
The complaint charges that each individual defendant:
Controlled the content of SEC filings, including the 1Q25 Form 10-Q and the September 2025 Form 8-K, which incorporated the Strategic Alliance Agreement and Partnership Milestones Agreement with ENTRA1 Hosted quarterly conference calls during which they allegedly made materially misleading representations about ENTRA1's qualifications as a nuclear power plant developer Had access to information revealing ENTRA1's lack of operational history prior to or shortly after issuing public statements touting the partner's capabilities Failed to correct prior misleading statements about ENTRA1 even as NuScale committed hundreds of millions in milestone payments under the PMA Sarbanes-Oxley Certification Obligations
Under Sections 302 and 906 of the Sarbanes-Oxley Act, both Hopkins and Hamady personally certified the accuracy of NuScale's periodic SEC filings during the Class Period. These certifications carry personal liability and require each officer to attest that filings do not contain untrue statements of material fact or omit material facts necessary to make statements not misleading.
Submit your information to join the recovery or call Joseph E. Levi, Esq. at (212) 363-7500.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify SEC filings and host investor calls where material representations are made, they bear individual responsibility for the accuracy of those communications." -- Joseph E. Levi, Esq.
Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.
Notice to Pension Funds, Asset Managers, and Fiduciaries
, /PRNewswire/ -- Institutional investors holding positions in Navan, Inc. (Nasdaq: NAVN) acquired pursuant or traceable to the Company's October 31, 2025 initial public offering may wish to evaluate lead plaintiff opportunities in a pending securities class action. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at [email protected] or ☎(212) 363-7500.
Shares purchased at the $25 IPO price have declined to as low as $9.20 before the lawsuit was filed. The Court has set April 24, 2026 as the deadline to apply for lead plaintiff appointment.
Fiduciary Obligations and Recovery Options
Pension funds, mutual funds, and asset managers that acquired NAVN shares in the IPO owe fiduciary duties to their beneficiaries to evaluate all avenues for loss recovery. The Private Securities Litigation Reform Act of 1995 favors institutional investors as lead plaintiffs, recognizing their capacity to oversee complex securities litigation on behalf of a broader class.
Key considerations for fiduciaries include:
Institutions that purchased NAVN shares at $25 in the October 2025 IPO and held through December 16, 2025 experienced per-share losses of approximately $12.10 based on the post-disclosure closing price The PSLRA presumes that the investor with the largest financial interest should serve as lead plaintiff, a role well suited to institutional holders Lead plaintiff appointment carries no additional financial obligation; counsel fees are paid from any recovery obtained for the class Fiduciaries who fail to evaluate participation in securities recoveries may face questions from beneficiaries regarding their oversight responsibilities The lawsuit asserts strict liability and negligence claims under §§11, 12, and 15 of the Securities Act of 1933, which do not require proof of fraudulent intent Portfolio Impact Assessment
The action contends that Navan's Offering Documents omitted material information about a 39% surge in sales and marketing expenses during the quarter ending October 31, 2025, the same day as the IPO. This omission allegedly rendered statements about the Company's "rapid growth" and key financial metrics misleading to investors who relied on the Offering Documents when making allocation decisions.
Contact us for institutional recovery options or call ☎(212) 363-7500.
Case Summary
The class action was filed in the United States District Court for the Northern District of California on behalf of all persons and entities that purchased Navan common stock issued pursuant or traceable to the IPO.
"Institutional investors play a critical role in securities class actions. Their participation strengthens the class and ensures that fiduciary interests are represented by parties with the resources and standing to oversee litigation involving alleged IPO disclosure failures of this magnitude." -- Joseph E. Levi, Esq.
INSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.
Shareholders Who Acquired Shares in the January 2025 Offering Urged to Review Options
, /PRNewswire/ -- Levi & Korsinsky, LLP announces that a securities class action has been filed against Lakeland Industries, Inc. (NASDAQ: LAKE).
YOU MAY BE AFFECTED IF YOU:
Purchased LAKE stock between December 1, 2023 and December 9, 2025 Lost money on your Lakeland Industries investment Acquired shares in or traceable to the Company's January 2025 public offering Find out if you qualify for recovery or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Lakeland raised approximately $46 million in gross proceeds through an underwritten public offering of 2,093,000 shares at $22.00 per share in January 2025. By December 10, 2025, shares closed at $9.16, a decline of over 58% from the offering price, representing a loss of $12.84 per share for offering participants.
The Alleged Offering Conducted on Artificially Inflated Shares
Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 prohibit making untrue statements of material facts or omitting facts necessary to prevent existing statements from being misleading. The action contends that Lakeland's January 2025 offering occurred while the Company's stock price was artificially inflated by misleading representations about the performance and prospects of its Pacific Helmets and Jolly acquisitions.
At the time of the offering, the lawsuit asserts, Lakeland had already experienced a revenue miss in Q2 FY2025, with management attributing the shortfall to "shipment timing" and delayed Jolly orders. Despite this warning, the Company continued to reaffirm adjusted EBITDA guidance of $18 million to $21.5 million for FY2025 and proceeded to raise capital from public investors at $22.00 per share.
What the Offering Documents Allegedly Misrepresented
As pleaded in the complaint, investors in the January 2025 offering were not adequately informed of material adverse conditions:
Lakeland was experiencing significant, sustained shipping delays and production issues at Pacific Helmets and Jolly A large Jolly fire boots order initially expected in Q2 FY2025 had already shown signs of slippage The rollout of new products from both Pacific Helmets and Jolly was proceeding far slower than represented to investors Management's financial guidance of "at least $18 million" in adjusted EBITDA was unreliable given known operational headwinds The Company's widely promoted SSQ M&A strategy was not delivering the integration benefits and accretion promised to investors Subsequent results confirmed FY2025 adjusted EBITDA of only $17.4 million, below the floor of guidance, while FY2026 guidance was ultimately withdrawn entirely Alleged Offering Proceeds and Defendant Motivation
The complaint contends that Lakeland's January 2025 offering generated approximately $46 million in gross proceeds while shares traded at artificially inflated levels. Plaintiffs allege this offering provided a direct financial motivation for maintaining optimistic public statements about the Company's acquisition strategy and financial outlook.
"The PSLRA provides important protections for investors harmed by alleged securities violations. When companies raise capital from the public, investors are entitled to receive complete and accurate information about known risks that could materially affect the value of their investment." -- Joseph E. Levi, Esq.
Start your claim now or contact Joseph E. Levi, Esq. at (212) 363-7500.
WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Motions for lead plaintiff must be filed with the Court by April 24, 2026.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Important Information Regarding Section 20(a) Individual Liability Claims
, /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in PayPal Holdings, Inc. (NASDAQ: PYPL) of a pending securities class action naming senior executives as individual defendants. Class Period: February 25, 2025 through February 2, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at [email protected] | (212) 363-7500.
Two senior officers of PayPal are named as individual defendants in a securities class action filed in the United States District Court for the Northern District of California. Shares fell $10.63 per share, a 20.31% single-day decline, after alleged misrepresentations were revealed on February 3, 2026.
The Named Individual Defendants
James Alexander Chriss served as President, Chief Executive Officer, and Director of PayPal throughout the Class Period until his termination on February 3, 2026. The complaint identifies Chriss as the executive who led the Company's February 25, 2025 Analyst/Investor Day presentation, where ambitious 2027 financial targets and Branded Checkout growth projections were communicated to investors.
Jamie S. Miller served as Executive Vice President, Chief Financial Officer, and Chief Operating Officer throughout the Class Period. Miller assumed the additional roles of Interim President and Interim Chief Executive Officer on February 3, 2026, the same day the Company disclosed disappointing results and withdrew its 2027 targets.
Section 20(a) Control Person Framework
The action asserts claims under Section 20(a) of the Securities Exchange Act of 1934, which imposes liability on individuals who controlled a company that violated Section 10(b). As pleaded, both Chriss and Miller possessed the power and authority to control the contents of PayPal's SEC filings, press releases, and presentations to analysts and institutional investors. Each was allegedly provided with copies of the Company's public statements prior to or shortly after issuance and had the ability to prevent their release or cause corrections.
Sarbanes-Oxley Certification Obligations
Under SOX Sections 302 and 906, Chriss and Miller personally certified the accuracy of PayPal's quarterly and annual filings with the SEC The complaint contends both defendants knew that adverse facts about the Company's salesforce readiness and deployment capabilities had not been disclosed Each allegedly had access to material non-public information showing that the Company's staff was "too optimistic" about changing customer adoption The action charges that positive representations about 2027 growth targets were made while concealing operational limitations across all regions Scienter Allegations
The complaint charges that the Individual Defendants knew, or were severely reckless in not knowing, that PayPal's salesforce was not equipped to execute on the growth potential communicated to investors. Both defendants allegedly participated directly in crafting the narratives presented at the February 2025 Analyst/Investor Day and the April 2025 earnings call, where they reiterated confidence in targets that were later withdrawn.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify financial disclosures while allegedly concealing known operational shortcomings, Section 20(a) provides shareholders a path to hold those individuals accountable." -- Joseph E. Levi, Esq.
Submit your information to join the recovery or call Joseph E. Levi, Esq. at (212) 363-7500.
Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered. The Court has set April 20, 2026 as the deadline to apply for lead plaintiff appointment.
Levi Strauss (NYSE: LEVI | LEVI Price Prediction) and Nike (NYSE: NKE) are both consumer apparel giants, but right now only one of them is actually growing. The question for retirement-focused investors is straightforward: given societal trends, which one deserves a place in your portfolio today?
The heritage consumption trend is the focus of this comparison. Consumers are gravitating toward classic, legacy brands with authentic cultural roots over performance-driven athleisure. Levi’s, with its 172-year heritage, sits squarely in that current. Nike, built on performance innovation and aspirational athlete marketing, is fighting a structural headwind it did not anticipate.
1. Growth Trajectory The gap here is significant. Levi’s posted Q1 FY2026 revenue of $1.742 billion, up 14.1% year over year, with net income rising 31.19% to $177.1 million. Management then raised full-year guidance, now targeting reported net revenue growth of 5.5% to 6.5% and adjusted diluted earnings per share (EPS) of $1.42 to $1.48. The direct-to-consumer channel, now 52% of revenues, grew 16%, and Europe surged 24% in the quarter.
Nike’s trajectory runs the other direction. Q3 FY2026 revenue was essentially flat at $11.279 billion, up just 0.09% year over year, while net income fell 34.51% to $520 million. For the full fiscal year 2025, annual revenue declined 9.84% and net income dropped 43.53%. Converse, a heritage sub-brand that should theoretically benefit from the same trend lifting Levi’s, saw revenue collapse 35% in the most recent quarter.
Winner: Levi’s.
2. Valuation Levi’s trades at a compelling discount to Nike on a forward earnings basis. With a current price of $22.33 and FY2026 EPS guidance midpoint of $1.45, the stock trades at roughly 15x forward earnings. Analyst consensus sits at 13 Buy ratings, two Holds, and zero Sells, with a consensus target price of $26.87.
Nike carries a trailing P/E of 29x despite earnings in freefall. Its forward P/E of 22x assumes a recovery that has yet to materialize in the revenue line. The stock trades at $45.08, down 28.3% year to date and 16.7% over the past year, against a 52-week high of $80.17. Paying a premium multiple for a business with quarterly earnings declining 34.8% year over year is a difficult case to make.
Winner: Levi’s.
3. Yield and Income This is the one dimension where Nike has a legitimate claim. Nike pays a dividend yield of 3.7%, backed by 24 consecutive years of dividend increases. That streak carries real weight for income-focused retirees. Levi’s pays $0.14 per share quarterly, a meaningfully lower yield at current prices. However, Levi’s dividend was recently increased and is supported by free cash flow of $152.1 million in Q1 FY2026 alone, up from $11.9 million in the prior-year period. Nike’s dividend streak is real, but the payout is now funded by a business generating a profit margin of just 4.84% with gross margins compressing across every recent quarter.
Winner: Nike on yield, with an asterisk on sustainability.
Verdict For a retiree who wants income above all else and is willing to accept a stagnant stock price in exchange for a 24-year dividend growth record, Nike fits that narrow profile. But the income argument is the only one Nike wins right now.
For the retirement investor who wants a stock that is actually growing, trading at a reasonable valuation, and riding a structural consumer trend, Levi’s is the clear choice. The stock is up 55.3% over the past year, management has raised guidance twice in recent quarters, and the heritage consumption trend is a structural tailwind, not a cyclical blip. The gap is stark. Nike’s “Win Now” turnaround is, by CEO Elliott Hill’s own description, still in the “middle innings.” Levi’s is already scoring.
Amazon pressured major brands like Levi Strauss & Co. and Hanes to inflate prices of listings on rival online marketplaces as part of wide-ranging price-fixing scheme, according to California Attorney General Rob Bonta.
The newly unsealed documents released on Monday are part of a 2022 antitrust lawsuit alleging Amazon stifled competition and increased the prices that consumers pay across the internet. The complaint zeroes in on Amazon's agreements with its millions of vendors, which Bonta says "keep prices artificially high" on competing platforms.
Vendors are compelled to agree to Amazon's demands because of its dominant position in online retail, Bonta argued.
Amazon has previously disputed Bonta's claims. An Amazon spokesperson told CNBC in a statement that it will respond in court "at the appropriate time."
"The Attorney General's motion is a transparent attempt to distract from the weakness of its case, coming more than three years after filing its complaint and based on supposedly 'new' evidence it has had for years," the spokesperson said in a statement.
The documents released Monday include 2022 communications between Amazon and undergarments maker Hanes, where it sent the vendor links to listings on Target and Walmart's websites showing lower prices than those on Amazon.
Hanes confirmed that it "reached out to Target and Walmart to have the prices increased," the filing states.
In another case, Amazon alerted Allergan that it temporarily suppressed listings for its eye drops once it found they were being sold for less elsewhere. The medical products company replied saying, "Walmart got their price back up" to $16.99 and asked Amazon to unsuppress the product. Amazon agreed, according to the filing.
Read more CNBC tech newsBezos opens up about AI startup Prometheus after $12 billion raise: 'We're not being secretive'DoorDash lets customers use photos, prompts to order food and book reservations in latest AI pushAs OpenAI leans into enterprise business, Apple and Google set sights on the massesPalantir's Karp says businesses are 'unhappy' with the frontier AI labsAmazon also allegedly pressed Levi's to ask Walmart to hike the price of its khaki pants, which were being offered for less than Amazon's listings. Walmart raised its prices, the filing states.
Representatives from Hanes, Levi's and AbbVie-owned Allergan didn't respond to requests for comment.
Bonta's office has asked a San Francisco Superior Court judge to prevent Amazon from engaging in the alleged price-fixing practices while the lawsuit proceeds. The office has also requested the court to appoint an independent monitor to oversee Amazon's compliance. The case is slated to go to trial in 2027.
"Amazon has strong-armed vendors into raising prices elsewhere or pulling products from competing retailers altogether so that Amazon can protect its profit margins," Bonta said Monday on a call with reporters. "That's not competition. It's price fixing, and under California law, it's illegal."
Amazon controls as much as 50% of the U.S. e-commerce market, based on various estimates. The company has long argued that its pricing policies enable it to keep prices low for consumers.
Several antitrust complaints take aim at its pricing mechanisms.
The Federal Trade Commission and 17 states sued Amazon in 2023, accusing it of wielding its monopoly power to squeeze merchants, resulting in higher prices on rival websites. Washington, D.C.'s attorney general sued Amazon in 2021 over its pricing polices, while European regulators have also scrutinized the issue.
Third-party sellers on Amazon, which account for more than 60% of goods sold by the retailer, have also argued that the company uses pricing algorithms to prevent it from offering lower prices elsewhere on the web. They say that doing so puts them at risk of losing the "Buy Box," or the portion of an Amazon listing where shoppers click "Buy Now" or "Add to Cart."
Analysts estimate that about 80% of Amazon sales flow through the Buy Box.
Bonta said his office released the new filings Monday to show how Amazon "coordinates" with vendors and major retailers, including Target, Walmart, Chewy, Best Buy and Home Depot, to raise prices across the market.
"We're not speaking generally anymore," Bonta told reporters. "We're calling out the conduct and the companies behind it."
Key Takeaways Retail sales jumped 1.7% in March, topping estimates, with strong gains across multiple categories.Rising oil prices and inflation drove a 15.5% surge in gasoline station receipts, boosting totals.FIVE, JD, TPR, LEVI, CASY stand out with solid earnings growth and improving estimates. Retail sales rose in March, surpassing expectations as the ongoing conflict with Iran saw gasoline prices climb more than 30% over the past month. Although oil prices played a major role in boosting retail sales in March, the overall sector performed well.
The retail sector has put up a great show despite facing inflationary and tariff challenges. Sales have been on the rise this year, and the sector is poised to grow in the near term. It would be ideal to invest in retail stocks with a strong online presence. We have selected five stocks, namely, Five Below, Inc. (FIVE - Free Report) , JD.com, Inc. (JD - Free Report) , Tapestry (TPR - Free Report) , Levi Strauss & Co. (LEVI - Free Report) and Casey's General Stores, Inc. (CASY - Free Report) .
Retail Sales SoarRetail sales jumped 1.7% in March, the highest level in the past 12 months, after rising 0.7% in February. The jump was higher than the consensus estimate of a rise of 1.4%. The jump was expected, given that the U.S.-Iran war saw oil prices rise sharply over the past month.
Year over year, retail sales jumped 4% in March, surpassing the consensus estimate of a rise of just 0.7%.
Global oil prices have surged over 30% since the start of the war, while inflation soared to its highest level in nearly a year, with the consumer price index (CPI) rising 0.9% sequentially in March. This saw a 15.5% surge in receipts at gasoline stations.
However, consumers continued to spend even then. Retail sales excluding automobiles, gasoline, building materials and food services rose 0.7% in March. Sales at auto dealerships climbed 0.5% in March, while sales at electronics and appliance retailers rose 0.9%. Sales at furniture stores jumped 2.2%.
Online sales jumped 1%, while sales at restaurants and drinking places increased 0.1% in March. Higher demand and continued spending are boosting retail sales, and the sector is not only holding its ground but also preparing for growth in the near term.
5 Retail Stocks With UpsideFive Below, IncFive Below, Inc. is a specialty value chain retailer that provides a wide range of premium quality and trendy merchandise for $5 or below. FIVE mainly targets teenagers or pre-teen shoppers for its products, which include certain brands and licensed merchandise. Notably, these products belong to categories such as Style, Room, Sports, Tech, Create, Party, Candy and Now.
Five Below’s expected earnings growth rate for the current year is 20.2%. The Zacks Consensus Estimate for current-year earnings has improved 15.4% over the past 60 days. FIVE presently carries a Zacks Rank #1.
JD.comJD.com operates as an online direct sales company in China. JD, through its website www.jd.com and mobile applications, offers a selection of authentic products.
JD.com’s expected earnings growth rate for the current year is 19.2%. The Zacks Consensus Estimate for current-year earnings has improved 5.3% over the past 60 days. JD currently has a Zacks Rank #2.
TapestryTapestry is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. TPR offers lifestyle products, which include handbags, women’s and men’s accessories, footwear, jewelry, seasonal apparel collections, sunwear, travel bags, fragrances and watches.
Tapestry’s expected earnings growth rate for the current year is 26.5%. The Zacks Consensus Estimate for current-year earnings has improved 3.9% over the past 60 days. TPR presently carries a Zacks Rank #2.
Levi Strauss & Co.Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's, Dockers, Signature by Levi Strauss & Co. and Denizen brands. LEVI’s products are sold through chain retailers, department stores, online sites and brand-dedicated retail stores, and shop-in-shops. Levi Strauss & Co. is based in San Francisco.
Levi Strauss & Co.’s expected earnings growth rate for the current year is 11.9%. The Zacks Consensus Estimate for current-year earnings has improved 2.7% over the past 60 days. LEVI carries a Zacks Rank #2.
Casey's General StoresCasey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. CASY offers a comprehensive range of products and services to meet the needs of its customers. In addition to fuel, the stores provide a wide variety of merchandise, including groceries, prepared food, snacks, beverages, tobacco products, health and beauty aids, school supplies, housewares, pet supplies and automotive supplies.
Casey’s has an expected earnings growth rate of 23.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.1% over the last 60 days. CASY currently has a Zacks Rank #2.
Key Takeaways Deckers Outdoor rides HOKA and UGG strength, with global demand and efficiency supporting growth.Abercrombie & Fitch posts 13 straight quarters of sales growth, driven by digital and brand momentum.Tapestry sees margin expansion and strong Coach demand, with raised fiscal 2026 revenue outlook. The Retail - Apparel and Shoes industry entered 2026 on a relatively stable note despite a volatile macroeconomic environment, with demand increasingly shaped by more selective, value-conscious consumers and faster-moving trends.
This space is benefiting from strong premiumization and digital momentum. Consumers are increasingly gravitating toward performance-driven, high-quality products that blend comfort, durability and style, supporting higher price points and stronger brand loyalty.
The Zacks-defined Retail – Apparel and Shoes industry is currently within the top 30% of the Zacks Industry Rank. Since it is ranked in the top half of the Zacks Ranked Industries, we expect it to outperform the market over the next three to six months.
Here, we recommend five apparel and shoes stocks with a favorable Zacks Rank for a stable portfolio. These are: Deckers Outdoor Corp. (DECK - Free Report) , Abercrombie & Fitch Co. (ANF - Free Report) , Levi Strauss & Co. (LEVI - Free Report) , Tapestry Inc. (TPR - Free Report) and Shoe Carnival Inc. (SCVL - Free Report) . Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past month.
Image Source: Zacks Investment Research
Deckers Outdoor Corp.Deckers Outdoor continues to demonstrate solid momentum, driven by strong execution across its HOKA and UGG brands. HOKA remains the key growth engine, supported by expanding global demand, balanced channel performance and continued market share gains, while UGG is delivering steady growth off a larger base through disciplined marketplace management and brand relevance.
DECK’s international markets are accelerating growth and diversification, strengthening long-term earnings visibility beyond the United States. At the same time, pricing discipline, cost controls and supply-chain efficiencies are supporting margin resilience despite external pressures.
With a strong balance sheet, ongoing share repurchases and continued investment in product innovation and brand building, DECK is well-positioned to sustain growth, and create long-term shareholder value.
Deckers Outdoor has an expected revenue and earnings growth rate of 7.5% and 6.3%, respectively, for the current fiscal year (ending March 2027). The Zacks Consensus Estimate for the current fiscal year’s earnings has improved 0.6% over the last 60 days.
Abercrombie & Fitch Co.Abercrombie & Fitch has been benefiting from momentum across its Hollister brand and regions, which has been bolstering sales. ANF marked its 13th straight quarter of sales growth, delivering record fourth-quarter and fiscal 2025 net sales, supported by broad-based momentum across regions, brands and channels.
ANF’s continued digital strength, localized merchandising strategies and contribution from new store openings and remodels have been yielding results. For the first quarter of fiscal 2026, ANF projected net sales to rise 1-3% from $1.1 billion recorded in the year-ago period. Our model expects sales to rise 3% for the first quarter and 4.5% for fiscal 2026.
Abercrombie & Fitch has an expected revenue and earnings growth rate of 4.3% and 8.6%, respectively, for the current fiscal year (ending January 2027). The Zacks Consensus Estimate for the current fiscal year’s earnings has improved 0.5% over the last 30 days.
Levi Strauss & Co.Levi Strauss designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's, Dockers, Signature by Levi Strauss & Co. and Denizen brands. LEVI’s products are sold through chain retailers, department stores, online sites and brand-dedicated retail stores and shop-in-shops.
Levi Strauss has an expected revenue and earnings growth rate of 5.2% and 11.9%, respectively, for the current fiscal year (ending November 2026). The Zacks Consensus Estimate for the current fiscal year’s earnings has improved 2.7% over the last 30 days.
Tapestry Inc.Tapestry continues to strengthen its position as a leading global house of brands, driven by the strong performance of Coach. The core brand is effectively attracting Gen Z consumers, achieving growth in both unit volume and pricing power. This demand, along with a more focused portfolio after the strategic divestiture of lower-margin segments, is fueling TPR’s gross margin expansion and strong operating leverage.
TPR’s adjusted gross margin rose 110 basis points in the second quarter of fiscal 2026. International markets, especially Greater China and Europe, are providing further opportunities for sustained growth.
Supported by a strong balance sheet and higher capital returns, TPR is effectively resetting its earnings base. Management has raised its fiscal 2026 view, projecting revenues above $7.75 billion and EPS between $6.40 and $6.45.
Tapestry has an expected revenue and earnings growth rate of 11.2% and 26.5%, respectively, for the current year (ending June 2026). The Zacks Consensus Estimate for the current year’s earnings has improved 3.9% over the last 60 days.
Shoe Carnival Inc.Shoe Carnival is one of the nation's largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. SCVL sells its products through www.shoecarnival.com and www.shoestation.com, and through a related mobile app.
SCVL has an expected revenue and earnings growth rate of -0.1% and -21.1%, respectively, for the current year (ending January 2027). The Zacks Consensus Estimate for the current year’s earnings has improved 4.9% over the last 30 days.
Promise vs. Reality: The Lakeland Industries Performance Gap
, /PRNewswire/ -- Lakeland Industries, Inc. (NASDAQ: LAKE) projected adjusted EBITDA of at least $18 million for FY 2025. The actual result: $17.4 million, followed by five consecutive quarters of missed consensus estimates, culminating in a 38.97% single-day stock collapse and the withdrawal of all forward guidance. Find out if you can recover your investment losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Lakeland's stock fell $5.85 per share to close at $9.16 on December 10, 2025, after the company disclosed Q3 FY2026 revenue of $47.6 million, missing estimates by $9.05 million, and terminated its CFO. The lead plaintiff deadline is April 24, 2026.
The Promise
Throughout the Class Period from December 1, 2023 to December 9, 2025, management issued a series of specific financial projections and operational commitments to investors:
Pacific Helmets would add $7 to $8 million in annual sales revenue and be "immediately accretive" Jolly would add $14 to $16 million in sales revenue and be "immediately accretive" FY 2025 adjusted EBITDA, excluding FX, would reach $18 million to $21.5 million FY 2026 revenue would reach $210 to $220 million with adjusted EBITDA of $24 to $29 million The SSQ acquisition strategy would position Lakeland "for growth in revenue and profitability" Fire services growth would "accelerate" and the company would become "less susceptible to revenue timing swings" As late as December 5, 2024, the CFO stated that "given the totality of our positive results, trends and expectations, we continue to expect Adjusted EBITDA excluding FX of at least $18 million."
The Reality
The lawsuit contends that behind these projections, Lakeland's acquired businesses were experiencing production issues, shipping delays, certification holdups, and a slower than expected rollout of new products. Quarter after quarter, the gap between company promises and actual performance widened:
Q2 FY2025 (September 4, 2024): Revenue missed consensus by $1.39 million. Stock fell 7.82%. Q4 FY2025 (April 9, 2025): GAAP EPS of negative $2.42, missing estimates by $2.80. Adjusted EBITDA came in at $17.4 million, below the "at least $18 million" floor. Stock fell 14.33%. Q1 FY2026 (June 9, 2025): Revenue missed by $2.1 million. Stock fell 22.16%. Q2 FY2026 (September 9, 2025): Revenue missed by $2.09 million. Stock fell 4.43%. Q3 FY2026 (December 9, 2025): Revenue missed by $9.05 million. FY 2026 guidance withdrawn entirely. CFO terminated. Stock fell 38.97%. What the Lawsuit Alleges About the Gap
The action asserts that management knew or should have known that their acquisitions were underperforming projections, yet continued to reassure investors about full-year targets and strategic momentum. Each corrective disclosure attributed the shortfall to the same recurring problems at Pacific Helmets and Jolly, problems that the complaint charges existed well before they were revealed to stockholders.
"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. The contrast between what Lakeland told the market and what actually occurred raises important questions about the accuracy of those representations." -- Joseph E. Levi, Esq.
Speak with an attorney about recovering your Lakeland losses or call (212) 363-7500.
LEAD PLAINTIFF DEADLINE: April 24, 2026
Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
