Levi Strauss beats expectations on the top and bottom lines, raises guidance

Levi Strauss beat Wall Street's expectations on the top and bottom lines Tuesday, leading the retailer to raise its guidance. The denim maker is now expecting full-year adjusted earnings per share to be between $1.42 and $1.48 per share, compared to expectations of $1.47 per share, according to LSEG.It's expecting sales to rise between 5.5% and 6.5%, ahead of estimates of 5.6%, according to LSEG. Here's how the apparel maker did in its first fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended March 1 was $175.8 million, or 45 cents per share, compared with $135 million, or 34 cents per share, a year earlier. Sales rose to $1.74 billion, up about 14% from $1.53 billion a year earlier. While Levi is seeing strong revenue growth across its business, it's benefiting from both higher prices and positive foreign exchange rates. In an interview with CNBC, finance chief Harmit Singh said about half of Levi's growth came from more units sold, while the other half was related to higher prices. He also noted that Levi's guidance could rise later in the year because it's assuming a 20% global tariff, though President Donald Trump has for now set a 10% duty on U.S. imports. If that 10% tariff remains in effect, it could boost full-year earnings by $35 million, or 7 cents per share. Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2026 Versant Media, LLC.

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