Levi Earnings Beat Expectations: 6 Key Metrics You Should See
Levi Strauss (NYSE: LEVI) reported better-than-expected results for its fourth quarter of fiscal 2021 (which ended on Nov. 28) after the market close on Wednesday, Jan. 26. The denim and casual clothing retailer's results were driven by consumers continuing to refresh their wardrobes after cutting back on apparel spending during the earlier stages of the pandemic, along with higher product pricing.
Levi stock gained 8.6% in Wednesday's after-hours trading session. The market's reaction is attributable to fourth-quarter revenue and earnings both slightly beating Wall Street's consensus estimate, and top-line guidance for 2022 coming in higher than analysts had been expecting.
In 2022, shares (which became publicly traded in March 2019) are down 19% through Wednesday's regular trading session, compared to the S&P 500's 8.7% loss over this period.
Source Fool.com
