Street View: Levi Strauss finds growth beyond its denim roots
BUZZ-Street View: Levi Strauss finds growth beyond its denim roots ** Shares of Levi Strauss LEVI.N down ~4% at $18.79 in morning trading
** Co raised its annual profit forecast on Wednesday, aided by tariff refunds, and counting on strong holiday-season demand for its premium denim and sweaters
** Median PT of 16 brokerages covering the stock is $26.50 - data compiled by LSEG
DIVERSIFICATION PAYS OFF
** Barclays says Levi's push beyond denim is gaining traction, with tops, women's apparel and newer lifestyle categories accounting for about half of the company's growth while it maintains its US denim leadership
** J.P. Morgan ("overweight", PT: $33) sees weaker direct-to-consumer slowdown as a short-lived issue tied to hot weather in Europe and a misread of US denim trends, with sales already rebounding into the current quarter
** BTIG ("buy", PT: $27) says improving demand trends and strength across wholesale, international markets and newer categories support a stronger outlook for the holiday season and 2027
** Needham ("buy", PT: $28) says Levi's temporary weakness in its own stores and website already appears to be reversing, while growth from tops, women's apparel and other non-denim categories shows the brand is becoming less reliant on jeans
(Reporting by Shania S Thomas in Bengaluru)