Levi Strauss Cuts Annual Forecasts as Promotions, Wholesale Weakness Weigh
October 5, 2023
Levi Strauss & Co has revised its annual forecasts downwards for the second time this year after falling short of third-quarter sales estimates. The denim giant attributed the slump to extensive promotions and declining sales in its North American wholesale channels. The broader retail landscape, impacted by restrained consumer spending due to elevated prices and borrowing rates, has affected demand for Levi’s products, leading to a 5% decrease in net revenue in its Americas segment.
Recent News
Peloton CEO Steps Down and Layoffs Begin
Peloton, the popular fitness technology company, has announced significant changes in its leadership and organizational structure.
California Restaurants Must Start Eliminating Special Surcharges
Starting July 1, California is changing the game for restaurant bills.
T-Mobile Now Owns Ryan Reynolds-Backed Mint Mobile
The deal is worth upwards of $1.35 billion.
Chipotle Is Giving Away Over $1 Million in Burritos to Healthcare Workers
In acknowledgment of the tireless contributions of healthcare workers, Chipotle Mexican Grill has announced a notable gesture of appreciation: the distribution of 100,000 free burrito e-cards.