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Levi Strauss & Co.

LEVI

Levi Strauss & Company decreased 1% to $13.08 after the apparel maker reported third-quarter revenue below market's expectations and the company also lowered its full-year revenue outlook.

Net revenue in the quarter was nearly unchanged at $1.5 billion and net income plunged 94% to $10 million from $173 million and diluted earnings per share dropped to 2 cents from 43 cents a year ago.

The company took an impairment charge of $90.2 million related to $400million Beyond Yoga acquisition in late 2021.

The recognition of the Beyond Yoga impairment charges negatively impacted after-tax diluted earnings per share by 17 cents.

The company returned $48 million to shareholder through a dividend of 12 cents a share and apparel maker did not purchase any shares in the quarter.

Levi announced a 12 cents per share dividend to shareholders on record on October 26 and payable on November 9.

The company forecasted 2023 revenue between flat and 1% increase from the previous year and said customers are searching for bargains and buying fewer items because of inflation and higher mortgages and gasoline prices at pump stations.
Oct 6, 2023

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Year	Feb	May	Aug	Nov	Annual

2023	0.29	0.00	0.02	-	-
2022	0.48	0.12	0.43	0.38	1.41
2021	0.35	0.16	0.47	0.37	1.35
2020	0.37	-0.91	0.07	0.15	-0.32
2019	0.37	0.07	0.3	0.23	0.97
2018	-0.05	0.19	-	0.59	0.73
2017	-	-	-	-	-
2016	-	-	-	-	-
2015	-	-	-	-	-