Western clothing craze sends sales of denim dresses and skirts soaring, Levi Strauss says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 28 2024
0mins
Source: CNBC
- Levi Strauss and Western Wear Trend: Levi Strauss reports a surge in Western wear popularity, with consumers embracing denim from head-to-toe.
- Impact of Beyoncé's Influence: Beyoncé's references to Levi's in her music have contributed to the denim craze and boosted the brand's visibility.
- Financial Performance: Levi Strauss posted $1.44 billion in revenue for the second quarter but experienced a stock drop despite exceeding earnings estimates.
- Analyst Reactions: Analysts have mixed views on Levi's performance, with concerns about European sales and wholesale business performance.
- Future Outlook: Citigroup analyst sees optimism in Levi's stock due to new styles, fits, and the influence of Beyoncé.
Analyst Views on LEVI
Wall Street analysts forecast LEVI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LEVI is 26.50 USD with a low forecast of 26.00 USD and a high forecast of 27.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 21.550
Low
26.00
Averages
26.50
High
27.00
Current: 21.550
Low
26.00
Averages
26.50
High
27.00
About LEVI
Levi Strauss & Co. is an apparel company. The Company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's, Levi Strauss Signature, Denizen, Dockers and Beyond Yoga brands. The Company operates through three geographical segments: Americas, Europe, and Asia. It designs, markets and sells directly or through third parties and licensee's products that include jeans, casual and dress pants, tops, shorts, skirts, dresses, jackets, footwear, and related accessories for men, women and children around the world. The Company’s products are sold in more than 120 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,400 retail stores and shop-in-shops. Outside the United States, department stores, specialty retailers, franchised or other brand-dedicated stores and shop-in-shops are its primary distribution channels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
