Levi Strauss Stock Plummets 12% After Disappointing Revenue Results – What’s Next for the Denim Giant?
SAN FRANCISCO, California – Levi Strauss, the iconic American denim company, faced challenges in the second quarter of the year as its revenue fell short of market expectations due to uneven wholesale demand in the United States. Despite a 12% drop in shares during extended trading, Levi Strauss expressed confidence in its annual profit and revenue forecast. The company attributed its setbacks to adverse foreign exchange effects and increased marketing expenses for the upcoming back-to-school …