Levi Strauss cuts full-year sales forecast again, as inflation takes a toll

Levi Strauss, on Thursday, adjusted its full-year sales forecast downwards due to falling short of Wall Street’s quarterly revenue predictions. The company faced challenges stemming from declining shopping trends at department stores and large retail chains across the United States, leading to a slight drop in its shares during extended trading.

This revision in the sales outlook follows another cautious update made just three months earlier when Levi Strauss had already reduced its full-year profit expectations. The company now expects net revenues to remain either flat or see a marginal increase of 1% year-over-year, compared to the previously projected growth range of 1.5% to 2.5%. Additionally, Levi Strauss foresees its adjusted earnings per share to fall on the lower end of the initial range, previously stated as $1.10 to $1.20.