Levi Stock Pops on Earnings Beat and Guidance Raise
Levi Strauss (NYSE: LEVI) reported better-than-expected results for its third quarter of fiscal 2021 (which ended on Aug. 29) after the market close on Wednesday. The denim and casual clothing retailer's growth was driven by consumers refreshing their wardrobes as economies around the world broadly reopen.
Shares rose 3.7% in Wednesday's after-hours trading. That pop is probably attributable to sales and earnings beating Wall Street's consensus estimates and management increasing full-year guidance on the top and bottom lines.
Through Wednesday's regular trading session, Levi stock is up 43% since its initial public offering in March 2019. The S&P 500 index has returned about 8% over this period.
Source Fool.com
