Let’s not forget that shout-out from Beyonce in March, prompting the company to change its Instagram name to “Levii’s.” That’s the kind of publicity that other apparel companies can only dream of.
Wall Street mistook a fashion trend for a turnaround.
Shares in Levi Strauss & Co. fell as much as 16% in pre-market trading after second-quarter sales missed expectations. Although revenue in the three months to May 26 came in at US$1.44 billion ($1.95 billion) — only just below the US$1.45 billion average of analysts’ estimates — the performance should have been better given that denim is one of the hottest looks around right now.
