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 lower than expected EPS guidance for FY23. The company also noted an 18% increase in inventories on a dollar basis, which has led to a decrease in its share price.
July 07, 2023 | 12:30 pm
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Levi Strauss & Co's Q2 margin decline and soft FY23 EPS guidance, along with an 18% increase in inventories, have negatively impacted its share price.
The company's reported decline in Q2 margins and lower than expected EPS guidance for FY23 indicate potential financial difficulties. The increase in inventories suggests a possible oversupply or decrease in demand for their products, which can also negatively impact the company's financial performance and, consequently, its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100