Levi Earnings Beat Expectations: 5 Key Metrics Investors Should See
Levi Strauss (NYSE: LEVI) reported better-than-expected results for its second quarter of fiscal 2022 (which ended on May 29) after the market close on Thursday, July 7. Consumer demand remained robust for jeanswear and casual clothing from the iconic retailer, despite its price hikes to offset inflationary pressures on input costs.
Levi stock rose 4.7% in Thursday's after-hours trading session. The market's reaction is largely attributable to the quarter's sales and earnings surpassing Wall Street's expectations, with the bottom-line beat a quite substantial one.
Investors were also probably relieved that management reaffirmed its previously issued fiscal 2022 guidance, given that the macroeconomic environment remains challenging. Inflation is high, and some consumers are concerned about the possibility of a recession.
Source Fool.com
