(Tiper Stock Exchange) – Levi Strauss & Coone of the world’s largest apparel companies, has registered Net revenues of $1.3 billion in the second quarter (ended May 28, 2023), a decrease of 9% on a reported and constant currency basis compared to the second quarter of 2022. The operating margin it decreased 450 basis points to 0.7% from 5.2% in the second quarter of 2022.
There net loss was $2 million, compared with net income of $50 million in the second quarter of 2022. Adjusted net income was $15 million, compared with $117 million in the second quarter of 2022. TheAdjusted EPS it was $0.04, compared to $0.29 in the second quarter of 2022.
Levi Strauss & Co predicts now full-fiscal net revenues to grow 1.5% to 2.5% year-over-year, versus previous expectations of 1.5% to 3%. Adjusted EPS is now expected in the $1.10-$1.20 range, up from $1.30-$1.40 previously.
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