Levi beats earnings estimates but expects pressure this year from strong U.S. dollar

Levi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses. The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG. It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG. Shares fell about 4% in extend ...