Levi Strauss & Co shares are trading lower after the company reported a Q2 margin decline and issued soft FY23 EPS guidance. The company also said inventories increased 18% on a dollar basis.
Portfolio Pulse from Benzinga Newsdesk
Levi Strauss & Co reported a decline in Q2 margins and issued a softer EPS guidance for FY23. The company also noted an 18% increase in inventories on a dollar basis, leading to a drop in its share price.
July 06, 2023 | 8:33 pm
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NEGATIVE IMPACT
Levi Strauss & Co's Q2 margin decline and softer FY23 EPS guidance, along with an 18% increase in inventories, have negatively impacted its share price.
The company's reported Q2 margin decline and softer EPS guidance for FY23 indicate a potential decrease in profitability. The increase in inventories could also suggest a slowdown in sales, which may have led to the drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100