Why Levi Strauss Stock Is Fading Friday?
Portfolio Pulse from Erica Kollmann
Levi Strauss & Co. (NYSE:LEVI) shares are trading lower after the company reported a Q2 margin decline and issued soft 2023 EPS guidance. The company reported a 9% decrease in net revenues, with wholesale net revenues decreasing by 22%. Adjusted diluted EPS is now projected between $1.10 to $1.20, down from $1.30 to $1.40. The stock is moving lower on high volume, with over 8.8 million shares traded compared to the 100-day average of 2.5 million shares.
July 07, 2023 | 4:35 pm
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NEGATIVE IMPACT
Levi Strauss & Co. reported a Q2 margin decline and lower 2023 EPS guidance, leading to a drop in its stock price.
The company's reported Q2 margin decline and lower 2023 EPS guidance are negative indicators for its financial performance, which is likely causing investors to sell off their shares, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100