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Levi Strauss Q3 profit dropped to $27 million

Christian Fernsby ▼ | October 7, 2020
Levi Strauss profit for the third quarter dropped to $27 million from $124 million last year.
Levi Strauss
Levi Strauss   Levi Strauss profit for the third quarter dropped from $124 million
Adjusted earnings were $0.08 per share, down from $0.31 per share last year.

Topics: Levi Strauss

Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share.

Third-quarter revenues declined 27% to $1.06 billion from $1.45 billion last year.

Analysts had a consensus revenue estimate of $822.24 million.

Revenue decreased largely due to the impacts of the coronavirus pandemic, including reduced traffic and ongoing closures of company-operated and third-party retail locations for portions of the quarter and in certain markets.

However, Levi's e-commerce revenue surged 52 percent.


 

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