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LEVI & KORSINSKY ISSUES CORRECTION: Securities Fraud Class Action Against Fortinet, Inc.
Globenewswire· 2025-10-29 01:16
Core Viewpoint - A class action securities fraud lawsuit has been filed against Fortinet, Inc. to recover losses incurred by shareholders due to alleged misrepresentations regarding the company's product refresh cycle and its impact on business performance [1][2][3]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for shareholders affected by alleged securities fraud occurring between November 8, 2024, and August 6, 2025 [2]. - The complaint alleges that Fortinet's management made false statements and concealed critical information about the refresh cycle of their products, indicating it would not be as profitable as claimed [3]. - It is claimed that Fortinet misrepresented the number of FortiGate firewalls eligible for upgrades and that the refresh was pushed through much faster than communicated to investors [3]. Group 2: Legal Representation - Levi & Korsinsky LLP, a well-established securities litigation firm, is representing the plaintiffs in this case, having a strong track record in securing significant recoveries for shareholders [5]. - The firm has been recognized in the Top 50 Report by ISS Securities Class Action Services for seven consecutive years, highlighting its expertise in complex securities litigation [5].
LEVI & KORSINSKY ISSUES CORRECTION: Securities Fraud Class Action Against Fluor Corporation
Globenewswire· 2025-10-29 01:13
Core Viewpoint - A class action securities fraud lawsuit has been filed against Fluor Corporation, alleging that the company made false statements regarding its financial health and project costs, which negatively impacted shareholders [1][3]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for shareholders affected by alleged securities fraud occurring between February 18, 2025, and July 31, 2025 [2]. - The complaint claims that Fluor Corporation concealed rising costs associated with infrastructure projects due to subcontractor errors, price increases, and scheduling delays [3]. - It is alleged that the company's financial guidance for FY 2025 was unreliable, overstating the effectiveness of its risk mitigation strategies and understating the impact of economic uncertainty [3]. Group 2: Next Steps for Affected Shareholders - Shareholders who suffered losses during the specified timeframe are encouraged to seek information on their rights to recovery, with no cost or obligation to participate [4]. Group 3: Legal Representation - Levi & Korsinsky LLP, a recognized securities litigation firm, is representing the plaintiffs and has a strong track record in securing recoveries for shareholders [5].
LEVI & KORSINSKY ISSUES CORRECTION: Securities Fraud Class Action Against RCI Hospitality Holdings, Inc.
Globenewswire· 2025-10-29 01:06
Core Viewpoint - A class action securities fraud lawsuit has been filed against RCI Hospitality Holdings, Inc. to recover losses incurred by shareholders due to alleged fraudulent activities between December 15, 2021, and September 16, 2025 [2][3]. Group 1: Lawsuit Details - The lawsuit alleges that RCI Hospitality Holdings, Inc. engaged in tax fraud and bribery to conceal this fraud, leading to an understatement of legal risks and materially false statements regarding the company's business and operations [3]. Group 2: Next Steps for Affected Shareholders - Shareholders who suffered losses during the specified timeframe are encouraged to seek information on their rights to recovery, with no cost or obligation to participate [4]. Group 3: Legal Representation - Levi & Korsinsky LLP, a recognized securities litigation firm, is representing the case and has a strong track record of securing significant recoveries for shareholders [5].
LEVI & KORSINSKY ISSUES CORRECTION: Securities Fraud Class Action Against KinderCare Learning Companies, Inc.
Globenewswire· 2025-10-28 21:58
Core Viewpoint - A class action securities fraud lawsuit has been filed against KinderCare Learning Companies, Inc. to recover losses for investors affected by alleged fraudulent activities related to the company's initial public offering in October 2024 [2][3]. Group 1: Lawsuit Details - The lawsuit alleges that KinderCare made false statements and concealed incidents of child abuse, neglect, and harm at its facilities [3]. - It is claimed that KinderCare failed to provide the "highest quality care possible" and did not meet minimum standards in the child care industry, exposing the company to undisclosed risks of lawsuits and reputational damage [3]. Group 2: Investor Information - Investors who suffered losses in KinderCare stock during the relevant timeframe are encouraged to seek information about their rights to recovery, with no cost or obligation to participate [4]. - The lawsuit is on behalf of all purchasers of KinderCare common stock in or traceable to the company's October 2024 initial public offering [2]. Group 3: Legal Representation - Levi & Korsinsky LLP, a nationally recognized securities litigation firm, is representing the plaintiffs and has a strong track record in securing recoveries for shareholders [5].
Levi's Rolls Out New Premium Denim, but Aims to Keep Appealing to Budget Shoppers
WSJ· 2025-10-28 10:00
Core Insights - The brand has launched its Blue Tab collection to enhance its existing product lines [1] Product Offering - The new Blue Tab collection is designed to complement the brand's current offerings, which are priced as low as approximately $20 [1]
Trump tariffs deliver shock ‘wake-up call’ to a world denim hub
The Economic Times· 2025-10-27 04:38
Core Insights - The introduction of tariffs by the US has significantly impacted Lesotho's textile industry, which is the largest sector in the country, leading to job losses and economic contraction [1][6]. Industry Overview - Textiles is the biggest industry in Lesotho, employing 12,000 people and indirectly supporting 40,000 jobs, primarily supplying US retailers like Walmart, JC Penney, and Levi Strauss [2]. - Prior to the new tariffs, most exports to the US entered duty-free under the African Growth and Opportunity Act, which has now been rendered defunct [2]. Economic Impact - The central bank of Lesotho had forecast modest growth for the textile sector before the tariffs were implemented, but the new outlook predicts contractions of 9.9% and 13.3% for the upcoming years [3]. - Lesotho's trade balance with the US is heavily skewed, with exports exceeding $235 million while imports were less than $3 million last year [3]. Employment and Social Context - The tariffs have exacerbated high unemployment rates in Lesotho, which stood at 30% last year, one of the highest globally [5]. - The founder of Afri-Expo Textiles described the tariffs as a shock comparable to the coronavirus pandemic, viewing it as a wake-up call for economic reform [5]. Political and Strategic Implications - Prime Minister Sam Matekane indicated ongoing negotiations with the US government for further tariff reductions, potentially down to 10% or zero [1]. - The tariffs have positioned Lesotho unfavorably compared to competitors like Kenya, prompting concerns about business relocations to countries with lower levies [1].
Levi’s nears completion of warehouse network transition
Yahoo Finance· 2025-10-23 09:00
Group 1 - Levi's is restructuring its distribution network from primarily owned warehouses to a hybrid model that includes both owned and leased facilities operated by third-party logistics providers [3] - The company has closed an owned facility in Kentucky and established agreements with third-party logistics providers for new distribution centers in Canton, Mississippi, and Groveport, Ohio, with the Mississippi site replacing an owned facility [4] - The transformation aims to enhance service to direct-to-consumer channels, which account for over 40% of the U.S. market, and is expected to reduce distribution expenses and costs per unit [5] Group 2 - Levi Strauss & Co. plans to phase out the parallel operation of owned and leased distribution centers by early 2026, as stated by the EVP and Chief Financial and Growth Officer during the Q3 earnings call [8] - The company reported a 19.5% year-over-year increase in distribution costs for the quarter, attributed to charges from overlapping facilities and reclassification of certain e-commerce costs [8] - The company anticipates that costs will decline over time as the transition is completed, leading to greater efficiency and flexibility in serving both direct-to-consumer and wholesale channels [8]
Levi's Denim, Campaigns Drive Higher Sales
Yahoo Finance· 2025-10-13 20:03
Core Viewpoint - Levi Strauss & Co.'s updated earnings guidance has not met investor expectations, particularly in terms of earnings growth not keeping pace with sales expansion [1] Financial Performance - CFO Harmit Singh asserts that the company remains strong, characterized by accelerated growth, expanding margins, and higher return on invested capital [1] Market Dynamics - Discussion includes insights on denim sales and the impacts of tariffs on the industry [1]
Levi Strauss Stock Set to Reach New Highs in 2026
MarketBeat· 2025-10-13 14:21
Core Insights - Levi Strauss & Co. is experiencing a sales recovery and is projected to reach new highs by 2026, driven by a strategic transformation focusing on direct-to-consumer, omnichannel, and e-commerce initiatives [3][4] - The company maintains a strong balance sheet, generates healthy cash flow, and is committed to returning capital to shareholders, making it appealing for income-oriented investors [3][5] Financial Performance - In the latest quarter, Levi's core business grew by 6.9%, outperforming market expectations, with Asia leading growth at 12% [8][9] - The company reported adjusted earnings of $0.34, a 3% year-over-year increase, significantly exceeding expectations [9][10] Capital Return Strategy - Levi Strauss has initiated an accelerated share repurchase program worth approximately 1.2% of its market cap, expected to be completed by the fiscal year's end [4] - The annualized dividend payment for FY2025 is projected at 56 cents, representing about 41% of the earnings outlook, supported by strong cash flow [5][6] Market Outlook - Analysts are bullish on Levi Strauss, with a 12-month stock price forecast of $26.36, indicating a potential upside of 22.21% [11] - Institutional investors have been consistently buying shares, accumulating over $2 for every $1 sold, indicating strong market support [12] Technical Analysis - Following the recent earnings release, the stock experienced a bearish trend, selling off by more than 8% in pre-market trading, creating a potential buying opportunity [12][13] - A strong support target is identified near $21.70, which may trigger a rebound if the stock price declines further [13]
U.S. Stock Futures Soar as Trade Tensions Ease, Earnings Season Kicks Off
Stock Market News· 2025-10-13 13:07
Market Sentiment and Performance - U.S. equity futures are showing a strong rebound, indicating a positive start to the week, driven by President Trump's conciliatory tone on trade relations with China [1][3] - Dow Jones Industrial Average (DJIA) futures are up approximately 0.9% to 1.44%, S&P 500 (SPX) futures have climbed between 1.2% and 1.43%, and Nasdaq 100 (NDX) futures are leading with gains of 1.4% to 2.69% [2] - The broader U.S. stock market index (US500) has risen to 6638 points, reflecting a 1.30% increase from the previous session and a 13.27% increase over the past year [4] Major Stock Movements - The "Magnificent 7" technology giants are experiencing significant gains, with Nvidia Corp. up 3.57%, Tesla Inc. up 2.70%, and Amazon.com Inc. climbing 2.09% [9] - Chipmakers like Advanced Micro Devices (AMD) and Nvidia (NVDA) are poised for a strong rebound after being affected by trade concerns [10] - MP Materials, a key player in rare earth minerals, surged 10% in premarket trading due to easing U.S.-China trade tensions [11] Earnings Season and Economic Indicators - The upcoming week marks the start of earnings season, with major financial institutions set to report third-quarter results, including JPMorgan Chase, Wells Fargo, and Goldman Sachs [7] - Investors are closely monitoring economic indicators, including the NAHB Housing Market Index and various production and employment figures, despite the ongoing U.S. government shutdown [6] International Trade Data - China's September trade figures showed exports surging 8.3% year-over-year and imports growing 7.4%, indicating resilience amid global trade tensions [8]