Levi Strauss Achieves Record High as CEO's Strategies Lead to Profit Growth
Thursday, 4 April 2024, 15:24
Levi Strauss & Co Profit Forecast Surge
Shares of Levi Strauss & Co surged by 20% to a two-year high after the company raised its annual profit forecast, driven by cost-cutting strategies and a focus on direct-to-customer sales.
CEO Michelle Gass's Initiatives
CEO Michelle Gass, former top executive at Kohl's, has implemented measures to enhance profitability, including job cuts and a shift towards direct customer sales.
Challenges in Wholesale Market
Levi Strauss is transitioning towards owned stores and its website due to challenges faced by some wholesale partners like Macy's and Kohl's in attracting customers.
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