NEW YORK: Levi Strauss & Co jumped in late trading after raising its revenue outlook, with the maker of 501 jeans expecting sales growth to outweigh the effect of President Donald Trump’s tariffs.
The company now sees revenue rising between 1% and 2% for the current fiscal year – above the average analyst estimate and up from a previous view that sales would decline 1% to 2%.
Levi also slightly lowered its guidance for gross margin due to tariffs, which the company factored in as 30% for products imported from China and 10% for the rest of the world.