Levi Strauss shares fall despite higher annual sales forecast
BUZZ-Levi Strauss shares fall despite higher annual sales forecast ** Shares of denim-maker Levi Strauss LEVI.N fall nearly 5% to $23.03 premarket
** Co on Wednesday raised its annual net sales forecast, betting that its premium denim products would appeal to higher-income shoppers even as economic uncertainty weighs on broader consumer spending
** BTIG maintains a "buy" stance on the stock, says Levi's continues to gain market share in both men's and women's denim, while the broader denim category remains healthy and is expected to outpace apparel growth over time
** Levi's Q2 revenue rises 8% to $1.56 billion, above analysts' estimates of $1.52 billion - LSEG data
** Average rating of sixteen analysts is "buy"; median PT $27 - data compiled by LSEG
** Up to last day's close, the stock had risen 17.5% YTD
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh))