(Bloomberg) -- Levi Strauss & Co. reported quarterly revenue that missed expectations as performance at retailers including department stores dragged down results, leading the company to cut its full-year sales outlook. Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpOzempic Is Making People Buy Less Food, Walmart SaysOnly an Equities Crash Can Rescue the Bond Market, Barclays SaysThe Moral Case for No Longer Engaging With Elon Musk’s XIt's Done. The Future
— Levi Strauss & Co. reported quarterly revenue that missed expectations as performance at retailers including department stores dragged down results, leading the company to cut its full-year sales outlook.It's Done. The Future Is Battery-Powered Electric Cars
The shares fell 1.4% at 6:17 p.m. in late trading in New York, pairing a deeper decline. This year through Thursday’s close, the stock has declined 15%. As the first of the major US apparel retailers to report during the current earnings cycle, Levi’s earnings will be closely watched — and they may fuel expectations for further downbeat performances. Apparel companies such as Gap Inc. and big vendors such as Macy’s Inc. typically release their earnings in late November.
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