Levi Strauss reported that white denim sales surged 70% during its fiscal second quarter, highlighting early success in its strategy to expand beyond denim bottoms into a broader lifestyle brand. The company posted second-quarter revenue of $1.56 billion, up 8% on a reported basis, with products outside denim bottoms accounting for roughly one-third of revenue growth. Bank of America analyst Kendall Toscano reiterated a Buy rating and $27 price target, calling the stock a compelling opportunity for higher-quality, consistent growth. Levi Strauss is also targeting value shoppers through its Signature label, which generates roughly $300 million in annual sales and grew 9% in the first half, while its premium Blue Tab collection, where jeans cost between $200 and $350, grew about 40% in both the first and second quarters. The company raised its full-year organic revenue-growth outlook to between 5.5% and 6% and its adjusted earnings forecast to between $1.46 and $1.52 per share.
Levi Strauss & Co Class AWhite denim sales surged 70%, products outside denim bottoms drove one-third of revenue growth, and full-year guidance raised.
Bank of America Corp