Hibbing, MN, USA / 93.9 WTBX
Jan 27, 2021 3:16 PM
(Reuters) - Denim maker Levi Strauss & Co beat analysts estimates for quarterly revenue on Wednesday, as higher online sales cushioned the blow from a slump in store traffic due to the COVID-19 pandemic.
Sales through retailers e-commerce channels jumped during the holiday season as customers staying at home chose to spend their disposable income and stimulus money on clothing, electronics, and gifts, rather than traveling or eating out.
Levi said online revenue, which includes sales on third-party retailers websites and apps, rose 34% in the quarter.
Overall revenue fell about 12% to $1.39 billion in the fourth quarter ended Nov. 29, as a surge in coronavirus cases at the end of last year forced store closures in major markets and battered already weak store traffic.
By Reuters Staff
2 Min Read
(Reuters) - Beyond Meat Inc said on Tuesday it had formed a joint venture with PepsiCo Inc to develop and sell snacks and beverages made from plant-based protein, sending shares of the faux-meat maker to an 18-month high.
The deal was the latest in a run of marketing successes for Beyond which include a distribution deal with Walmart, and partnerships with restaurants including Taco Bell, KFC and Starbucks.
The company’s burger patties and sausages have been among the leaders in the surge in interest in plant-based alternatives over the past two years as consumers worried about their health, animal welfare and food safety.
Beyond Meat surges on PepsiCo plant-based snack deal
2 Min Read
(Reuters) - Beyond Meat Inc said on Tuesday it had formed a joint venture with PepsiCo Inc to develop and sell snacks and beverages made from plant-based protein, sending shares of the faux-meat maker to an 18-month high.
The deal was the latest in a run of marketing successes for Beyond which include a distribution deal with Walmart, and partnerships with restaurants including Taco Bell, KFC and Starbucks.
The company’s burger patties and sausages have been among the leaders in the surge in interest in plant-based alternatives over the past two years as consumers worried about their health, animal welfare and food safety.
American Eagle sees fall in holiday-quarter sales, plans store closures
2 Min Read
FILE PHOTO: Jeans are seen for sale in an American Eagle Outfitters retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Mike Segar
(Reuters) - American Eagle Outfitters Inc said on Thursday it would close potentially hundreds of stores over the next few years, while the coronavirus crisis forced the apparel retailer to forecast holiday-quarter revenue below estimates.
Mall traffic dwindled toward the end of last year as COVID-19 cases surged, bruising sales of retailers which were hoping for a strong recovery in the crucial holiday shopping season.
Procter & Gamble Co raised its full-year sales forecast for a second time on Wednesday as it benefited from sustained coronavirus-driven demand for cleaning products, while also warning that the pace of sales might slow as vaccines roll out.