Levi Strauss & Co. saw a significant increase in its stock price after implementing cost-cutting measures and introducing new merchandise such as denim skirts and non-denim activewear pants. The company's direct-to-consumer operations performed well, with sales from its own stores and website rising by 7% in the quarter. Despite weakness in its wholesale business, Levi's revenue exceeded expectations. The company's adjusted earnings per share and gross margin also surpassed analyst estimates. Levi has raised its full-year profit guidance and expects continued growth in its direct-to-consumer operations. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)