Levi Strauss to expand retail footprint, sees revenue above estimates, Retail News, ET Retail

Davida Erdahl

Levi Strauss & Co introduced options to develop its retail footprint and forecast a more compact-than-predicted drop in present-quarter revenue immediately after surging online sales aided the denim maker put up a surprise gain.

Shares of Levi climbed 10% in prolonged trading on Tuesday immediately after the organization claimed it would sell its Crimson Tab jeans selection at five hundred Goal Corp stores by the fall of 2021, up from 140 presently. Levi also introduced its solutions at some Dick’s Sporting Items stores.

Numerous analysts experienced predicted apparel makers to get a strike from coronavirus-driven closures of numerous division stores, but Levi now options to open new stores and invest in its margin-driving online business, which grew fifty two% in the 3rd quarter.

“Even though growth in our direct client business will outpace that of our wholesale channel, we keep on to see prospects to access new shoppers with new

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