Levi Strauss announced that its profits for fiscal 2024 will be higher than expected, leading to an 18% increase in its shares. The company is achieving this by cutting costs, improving efficiencies, and shifting sales from department stores to online and its own shops. Levi's also reported its adjusted earnings per share for fiscal 2024 to be between $1.17 and $1.27, surpassing the previous range of $1.15 to $1.25. As discretionary spending slows down, the company is focusing on cost reduction and efficiency improvement to enhance its profitability.
Shares of Levi Strauss popped 18% after it told Wall Street its profits will be higher than expected in fiscal 2024 . The blue jeans maker is boosting profits by cutting costs, finding areas for increased efficiencies and focusing less on promotions. Levi's is also seeing record amounts of sales happening online and through its own shops instead of through department stores like Macy's and Kohl's, which come at a lower margin.The Levi Strauss & Co.
label is seen on clothes in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022.Late Wednesday, Levi's announced its fiscal first quarter earnings and said it expects adjusted earnings per share for fiscal 2024 to be between $1.17 and $1.27, up from a previous range of $1.15 to $1.25.As the retailer contends with a slowdown in discretionary spending, it's focused on what it can control: cutting costs and becoming more efficient so it can boost its bottom lin
Levi Strauss Shares Profits Fiscal 2024 Cost Cutting Efficiencies Sales Department Stores Online Earnings Per Share Cost Reduction Efficiency Improvement
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