PREVIEW: Levi's stock sags, premium denim sales eyed
BUZZ-PREVIEW: Levi's stock sags, premium denim sales eyed ** Levi Strauss LEVI.N shares falling 4.3% to $19.65 on Weds ahead of qtrly results due after the bell, with investors watching for progress on its push into premium denim amid cautious consumer spending
** Apparel maker known for its denim jeans and casual wear seen posting fiscal Q3 rev growth of ~5% yr/yr to $1.62 bln and adj EPS of $0.36, vs $0.34 a yr ago, per LSEG data
** Last qtr, co raised its annual sales forecast, betting its premium denim would appeal to higher-income shoppers, but its profit outlook disappointed some investors
** In a preview note, Jefferies said it expects a "solid" Q3 report with healthy denim demand, noting that new CFO hire signals continued focus on global growth ahead
** On Sept 30, LEVI announced appointment of John Vandemore as CFO, effective Nov 1, 2026; Vandemore joined co from Skechers, where he served as finance chief for the past 9 yrs and led that firm's global financial organization
** With the move on the session, LEVI stock down ~5% YTD and ~20% over the past 12 months
** 13 of 16 brokers rate the stock "strong buy" or "buy", 3 "hold"; median PT of $27 unchanged over the past 3 months
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))