Levi Says Q2 Operating Margin Was 450 bps Lower Than Q2 Of 2022
Portfolio Pulse from Benzinga Newsdesk
Levi's Q2 operating income decreased by 87.0% to $9.9 million from $76.2 million in Q2 of 2022. The decrease is attributed to lower net revenues and lower gross profit. The operating margin was 0.7%, 450 basis points lower than Q2 of 2022 due to SG&A expense deleverage against lower net revenues, partially offset with higher gross margins.
July 06, 2023 | 8:11 pm
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Levi's Q2 operating income has significantly decreased, which is likely to negatively impact the company's stock price in the short term.
The significant decrease in Levi's Q2 operating income indicates a poor financial performance, which is likely to make the stock less attractive to investors, potentially leading to a decrease in the stock price.
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