Levi Strauss reported better-than-expected earnings and revenue for its fiscal fourth quarter but issued weaker guidance for the current year. The denim maker expects a sales decline, falling short of growth projections from analysts. CEO Michelle Gass attributed the decline to currency trends, a shorter fiscal year, and divested businesses rather than weakening demand. Gass has focused on cutting unprofitable segments, increasing higher-margin sales, and attracting more female customers. Under her leadership, Levi secured a major marketing deal with Beyoncé after she referenced the brand in a song.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Levi Strauss reported better than expected earnings and revenue for its fiscal fourth
00:06quarter, but issued weaker guidance for the current year. The denim maker expects a sales
00:11decline, falling short of growth projections from analysts. CEO Michelle Gass attributed
00:17the decline to current trends, a shorter fiscal year, and divested business, rather than weakening
00:23demand. Gass has been focusing on cutting unprofitable segments, increasing higher
00:29sales margins, and attracting more female customers. Under her leadership,
00:33Levi secured a major marketing deal with Beyonce after she referenced the brand in a song.