Levi Strauss Plans to Cut Costs and Rely on Innovation Through This Crisis
Levi Strauss (NYSE: LEVI) delivered fiscal first-quarter earnings that were better than analysts' expectations. Constant-currency revenue growth was 6%, despite the company closing stores in mid-January over the spread of COVID-19 in China (note that Levi's first quarter ended Feb. 23).
During the conference call, CEO Charles Bergh said, "Our business was humming coming into the crisis, again reaffirming the robust strategies that we are executing and the momentum we had prior to the crisis erupting globally." Bergh further outlined how the iconic jeans maker will survive the downturn and come out of this crisis stronger than before.
Image source: Levi Strauss.
Source Fool.com
