Levi's Raises Outlook After Releasing First Quarter Results
FINANCE By Andrew Asch | Thursday, April 15, 2021 Denim giant Levi Strauss & Co. continues to navigate the fallout from the COVID-19 pandemic. For its first financial quarter of 2021, released April 8, the brand reported net revenues of $1.3 billion, down 13 percent compared to the same quarter the previous year. The decline was attributed to closures of company-operated stores as well as third-party retail locations. However, Levi’s global digital net revenues grew 41 percent in the first quarter. The success of digital sales gave the company the confidence to raise its out...