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LEVI - Levi Strauss & Co News Story

$12.5 0.4  3.6%

Last Trade - 07/08/20

Consumer Cyclicals
Large Cap
Market Cap £3.80bn
Enterprise Value £4.01bn
Revenue £3.85bn
Position in Universe 1139th / 6395

BUZZ-Levi Strauss: Down on margin warning despite revenue beat

Wed 8th July, 2020 1:00pm
** Shares of denim apparel maker  LEVI.N  fall 5.4% to
$13.20 premarket 
    ** Co warns margins will be under pressure for the rest of
the year as it tries to sell excess inventory left behind due to
COVID-19 related temporary store closures  urn:newsml:reuters.com:*:nL4N2EE3RR 
    ** Telsey Advisory Group analysts say impact of COVID-19 has
resulted in "depressed earnings outlook" but believes co's
strong financial position gives it flexibility to get through
the crisis; cuts PT to $17 from $20
    ** On Tuesday, co beat Wall Street expectations for Q2
revenue, even though it fell 62% due to store closures
    ** Stock down 28% this year

 (Reporting by Nivedita Balu in Bengaluru)
 ((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))
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