(Finance) – Pressure on Levi-Strausswhich loses ground, showing a drop of 16.37%.
The apparel group closed the second quarter with net profits of 18 million dollars versus the loss of 2 million a year earlier. On an adjusted basis, EPS came in at 16 cents, versus the consensus of 11 cents. The sales they are growing by 8% annually to 1.44 billion compared to analysts’ 1.45 billion.
The historic jeans brand has warned of higher marketing and logistics costs: as part of an effort to cut costs and increase profits, it will begin working with more third-party logistics companies to handle product delivery, after largely keeping those operations in-house in both the U.S. and Europe.
The one-week trend Levi-Strauss is more sluggish compared to the trend of theS&P-500. This decline could trigger opportunities for the market to sell the stock.
In the short term, Levi-Strauss presents an improving structure, with resistance area seen at USD 19.92 and support at 18.84. The operating levels indicate a widening of the curve from yesterday’s highs, with prices that could push up to the important resistance area estimated at 20.99.