Levi Strauss raises sales growth outlook on vaccine rollout hopes, Retail News, ET Retail

Davida Erdahl

Levi Strauss & Co on Thursday elevated its 50 percent-calendar year revenue advancement forecast, banking on COVID-19 vaccine rollouts to spur a return to normalcy, just after the denim maker conquer quarterly sales estimates on a pandemic-led e-commerce enhance.

Several apparel suppliers together with Nike Inc and Kohl’s Corp have also expressed identical optimism, even as on the internet sales have boomed in new months. People, wary of stepping out of their properties through the health crisis, have taken to purchasing a lot more applying their cell phones.

“As the vaccine rollout proceeds and buyer pleasure returns, I am a lot more assured than ever that we will arise from the pandemic a stronger business,” Levi Chief Govt Officer Chip Bergh said in a statement.

Levi said a lot more than 40% of its European shops ended up closed as of Thursday, with the rest operating on reduced hrs due

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