Levi’s stock soars on less awful earnings results
Shares of Levi Strauss saw their biggest jump in years Thursday, after the blue jeans behemoth’s quarterly numbers arrived better than expected. The first quarter figures were goosed by a direct-to-consumer strategy, and cost cutting, which helped fatten profit margins. Executives also spotlighted strength in sales of baggy jeans. (Beyoncé’s shout-out in the tune Levii’s Jeans likely won’t hurt either.) For the record, Levi’s still lost nearly $11 million during the first quarter.
‘The bootcut, the flares, the '90s, the Baggy Dad ....’
‘...all doing really well.’
