Levi’s Earnings Beat Expectations, Dividend Raised – Shares Drop 12% – What Happened?
San Francisco, CA – Levi’s, the iconic American denim company, reported better-than-expected earnings in its latest financial quarter, driven by a combination of increased direct-to-consumer sales and cost-cutting measures. The company marked its first dividend increase in six quarters, raising it by 8% to 13 cents per share. Despite the positive financial results, Levi’s stock experienced a 12% drop in after-hours trading following the earnings report. The company’s performance during the quarter exceeded Wall Street …