The post Levi Strauss (LEVI) earnings Q4 2024 appeared on BitcoinEthereumNews.com.

Levi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses.  The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG.  It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG.  Shares fell about 6% in extended trading. CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower demand, but is more due to the currency trends, one fewer fiscal week and the divested businesses. Levi ended fiscal 2024 on a high note and reported earnings and sales that both topped expectations.  Here is how the apparel company fared during its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Earnings per share: 50 cents adjusted vs. 48 cents expected Revenue: $1.84 billion vs. $1.73 billion expected The company’s reported net income for the three-month period that ended Dec. 1 was $182.6 million, or 46 cents per share, compared with $126.8 million, or 32 cents per share, a year earlier. Excluding one-time expenses related to impairments, restructurings, acquisitions and leases, among other items, Levi reported adjusted net income of $202 million, or 50 cents per share, compared with adjusted profits of $179 million, or 44 cents per share, a year earlier.  Sales rose to $1.84 billion, up about 12% from $1.64 billion a year earlier. Organic sales, which exclude an extra 53rd week Levi had during the quarter, along with foreign exchange effects and divested businesses, grew 8%.  Since Gass took the helm of Levi…

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Filed under: News - @ January 29, 2025 11:20 pm