Levi Strauss shares surge 18% on raised profit guidance, holiday earnings beat

Shares of Levi Strauss Surge on Higher Profit Guidance #

Levi Strauss experienced a surge in its stock price by 18% after announcing that its profits for fiscal 2024 will be higher than expected. To increase profitability, the company has focused on cutting costs, improving operational efficiencies, and reducing promotional activities. Levi’s has also seen a rise in online and direct sales, while reducing reliance on department stores with lower margins. The retailer’s Q1 earnings beat expectations, and it raised its full-year profit outlook as well. Levi’s has initiated cost-cutting measures and exited lower-margin businesses to boost its bottom line.