Levi Strauss' Resilience In The Face Of Sluggish Demand - An Analyst's Perspective On The Outperform Rating
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Levi Strauss & Co (NYSE:LEVI) but lowered the price target from $24 to $18. LEVI reported Q2 FY23 adjusted EPS of $0.04, slightly above consensus estimates. Total revenue declined 9.1% to $1.337 billion, attributed to a planned shift of U.S. wholesale sales and a 2% decline in Europe. The company anticipates a mid-single digit revenue gain in 2H, moderated from previous estimates due to softer U.S. wholesale demand. LEVI shares are trading lower by 6.32% at $13.33.
July 07, 2023 | 6:22 pm
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NEGATIVE IMPACT
Levi Strauss & Co's Q2 FY23 earnings slightly beat estimates but revenue declined 9.1%. The company's outlook has been lowered due to softer U.S. wholesale demand. Shares are trading lower.
Levi Strauss & Co reported Q2 earnings that slightly beat estimates, but a significant decline in revenue and a lowered outlook due to softer U.S. wholesale demand are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100