Market Performance - The three major U.S. indices closed higher, with the Dow Jones up by 192.34 points (0.43%) at 44,650.64 points, the Nasdaq up by 19.33 points (0.09%) at 20,630.66 points, and the S&P 500 up by 17.20 points (0.27%) at 6,280.46 points, with both the Nasdaq and S&P 500 reaching new all-time highs [1] - In the European market, the DAX30 index fell by 56.00 points (0.23%) to 24,465.93 points, while the FTSE 100 index rose by 110.69 points (1.25%) to 8,977.71 points [1][2] Company News - Nvidia's market capitalization closed at $4 trillion, with its stock price increasing nearly 1% [1] - Tesla's stock rose by 4.7% [1] - Nvidia's CEO Jensen Huang met with President Trump, who praised Nvidia's stock performance, noting a 47% increase since the implementation of tariffs [7] - Levi's raised its revenue guidance, expecting sales growth to withstand the impact of tariffs, leading to a 9% increase in its stock price in after-hours trading [8] Commodity and Currency Updates - Gold prices increased by 0.4% to $3,325.35 per ounce [3] - Bitcoin reached a new all-time high, continuing its upward trend, while Ethereum surpassed $3,000 for the first time since early February [3] - The U.S. dollar index rose by 0.1% to 97.652, with various currency exchange rates showing fluctuations against the dollar [2] Federal Reserve Insights - Federal Reserve Governor Waller expressed support for a potential interest rate cut in July, citing that current policy rates are too high [4] - San Francisco Fed President Daly indicated the possibility of two rate cuts in 2025, noting that the impact of tariffs on prices may be weaker than expected [5] - Fed official Musalem mentioned that the effects of tariffs might not be fully realized until later this year or early next year [6]

Financial Data and Key Metrics Changes - The company reported a 9% increase in organic net revenue for Q2, marking the third consecutive quarter of high single-digit growth [7][33] - Gross margin reached a record 62.6%, expanding 140 basis points year-over-year, driven by lower product costs and a favorable channel mix [36][38] - Adjusted diluted EPS increased by 37% year-over-year to $0.22 [38] Business Line Data and Key Metrics Changes - Direct-to-consumer (DTC) sales grew by 10%, with 13 consecutive quarters of positive comparable sales growth [7][22] - The wholesale business also saw growth, up 7%, with notable performance in Europe [7][33] - Women's business grew by 13%, while men's business increased by 6% [33] Market Data and Key Metrics Changes - The Americas net revenues were up 9%, with operating margins increasing to 20.5% [39] - Europe experienced a 15% increase in net revenues, with a 17.2% operating margin [40] - Asia's net revenues were flat due to strategic actions taken to improve structural economics, but DTC grew double digits in several markets [41] Company Strategy and Development Direction - The company is transitioning to a DTC-first model, with over half of its business now coming from owned and operated channels [9][11] - A focus on becoming a full head-to-toe apparel lifestyle brand is evident, with significant growth in lifestyle categories [9][10] - The company is narrowing its focus by divesting from non-core brands like Dockers, allowing for a more concentrated effort on the Levi's brand [10][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating a challenging global operating environment, citing strong brand equity and consumer connection [11][30] - The company raised its full-year guidance for organic net revenue growth to 4.5% to 5.5% [45] - Despite uncertainties around tariffs, the company believes it is well-positioned to manage potential impacts [44][50] Other Important Information - The company opened 16 net new stores in Q2, expanding its global store network [24] - The loyalty program has nearly 40 million members, contributing to increased consumer engagement and higher average unit retail (AUR) [25] - The company expects to return at least $100 million from the net proceeds of the Dockers sale to shareholders through share repurchases [42] Q&A Session Summary Question: Drivers of demand strength and market share gains - Management noted broad-based growth across all business segments and maintained a top market share position globally and in the U.S. [53][56] Question: Clarification on organic wholesale revenues - Management indicated a prudent approach to wholesale, expecting it to remain flat to slightly positive for the year, with growth driven by digital channels and premium customers [66][70] Question: Marketing initiatives and price increases - The company is investing in brand marketing and has exciting campaigns planned for the fall, with room for further AUR growth across categories [75][80] Question: Margin profile of DTC business - DTC margins have improved significantly, with a focus on revenue per square foot and cost management contributing to this positive trend [95][99] Question: Tariff assumptions and pricing strategy - The company has factored in additional tariffs into its guidance and is implementing strategies to mitigate their impact [103][44]

Financial Data and Key Metrics Changes - The company reported a 9% organic net revenue growth in Q2, marking the third consecutive quarter of high single-digit growth [9][35] - Gross margin reached a record 62.6%, expanding 140 basis points year-over-year, driven by lower product costs and a favorable channel mix [38] - Adjusted diluted EPS increased by 37% to $0.22 compared to the prior year [40] Business Line Data and Key Metrics Changes - Direct-to-consumer (DTC) sales grew by 10%, with 13 consecutive quarters of positive comparable sales growth [9][32] - The wholesale business also saw growth, up 7%, marking its third consecutive quarter of growth [32][35] - Women's business grew by 13%, while men's business increased by 6% [35] Market Data and Key Metrics Changes - The Americas net revenues were up 9%, with operating margins increasing to 20.5% [41] - Europe experienced a 15% increase in net revenues, with a 17.2% operating margin [42] - Asia's net revenues were flat, but DTC grew double digits, indicating strong performance in specific markets like Japan and Turkey [44] Company Strategy and Development Direction - The company is transitioning to a DTC-first model, with over half of its business now coming from owned and operated channels [10][12] - Strategic focus has shifted towards the Levi's brand, with the sale of Dockers and exiting the Denizen and footwear businesses [11][30] - The company aims to become a $10 billion company, emphasizing growth in lifestyle categories beyond denim [12][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating a challenging global operating environment, citing strong brand equity and consumer connection [12][54] - The company raised its full-year guidance for organic net revenue growth to 4.5% to 5.5% [48] - Management highlighted the importance of brand marketing and collaborations, such as with Nike and Beyoncé, to maintain cultural relevance [14][82] Other Important Information - The company generated free cash flow of $146 million and declared an 8% increase in dividends to $0.14 per share [45] - Inventory levels increased by 15%, primarily to support holiday sales and mitigate tariff impacts [46] Q&A Session Summary Question: Drivers of demand strength and market share gains - Management noted broad-based growth across DTC and wholesale, with strong performance in both men's and women's categories [58][64] Question: Gross margin inflection and structural changes - Management highlighted that higher DTC sales, focus on women's products, and exiting less profitable lines contributed to improved gross margins [65][68] Question: Organic wholesale revenues and growth expectations - Management indicated a prudent approach to wholesale growth, expecting it to remain flat to slightly positive for the year [73][75] Question: Marketing initiatives and AUR growth - Management discussed ongoing marketing efforts, including collaborations and campaigns, which are expected to drive brand strength and AUR growth [82][84] Question: DTC margin profile and SG&A rate - Management confirmed that DTC growth is no longer a drag on EBIT margins, with significant improvements in revenue per square foot and cost management [99][100]

金十数据7月11日讯，李维斯（Levi Strauss）上调营收预期，这家501牛仔裤制造商预计销售增长将顶住 特朗普关税的影响。在纽约盘后交易中，该公司股价一度上涨9%。该公司目前预计本财年的营收将增 长1%至2%，高于分析师的平均预期，也高于此前销售将下降1%至2%的预期。这一结果表明，该公司 拓展新产品和新品类的努力正在取得成效。 牛仔裤制造商李维斯上调营收指引，股价盘后大涨9% ...

智通财经7月11日电，牛仔裤制造商李维斯将财年EPS预期1.20-1.25美元上调至1.25-1.30美元。李维斯美 股盘后一度涨超9%。 ...

就该事业分部第三季度单季旗下各地区业绩来看(以当地币值计)，大中华地区之中，中国大陆市场收益 较上年度同期减少约5%，经营溢利同比下降约3%。这主要是因为市场整体消费意愿低落，同时截至5 月初仍持续低温等因素，使实际需求无法提振。香港及台湾市场虽录得收益增长，但因成本率上升使毛 利率下降，加上行政开支等占收益比率升高，致使经营溢利大幅减少。南韩的收益及溢利则皆录得大幅 增长，这是由于其策略性地备妥春季及全年性商品的库存，成功推展换季时期业绩，以及行销策略奏效 所致。东南亚、印度及澳洲地区录得收益大幅增长、溢利上升。该地区以夏季商品为中心，销情旺盛， 推使同店销售净额增长。北美地区录得收益及溢利双双大幅增长，欧洲录得收益大幅增长、溢利上升， 业绩持续表现良好。在欧美地区策略性加强行销活动下，以主力商品为首带动销售表现亮丽。同时，前 三季度期间开设的新店销情不俗，不但能持续扩展顾客层并提高品牌知名度。 在GU(极优)事业分部方面，前三季度收益总额为2,562亿日圆(同比增长4.0%)，经营溢利总额为263亿日 圆(同比减少10.7%)，录得收益增长但溢利大幅下降。其中，第三季度单季亦录得收益增长、溢利大幅 下降。 ...

大家有没有发现最近几年我们的国货在开挂的路上，越走越远！ 高颜值+高性价比+超好用， 怪不得我一看消费记录，接近一半的都是国货单品。 相比于之前"质量堪忧，包装廉价"的刻板印象，短短几年，国货市场已经迅速崛起，一个个品牌 如雨后春笋般冒出来，让人应接不暇。 一些新锐国货：片仔癀 、儒意、马应龙 等，也一直在用专业实力征服国人。 国货崛起，让 中国制造 这四个大字也有了更特别的意义。 洞见（DJ00123987）——不一样的观点，不一样的故事，3000万人订阅的 微信大号。点击标题下蓝字"洞见"关注，我们将为您提供有价值、有意思的 延伸阅读。 预约直播，专业儿童学习桌椅专场 保护脊椎丨激发内驱力 在线客服、查询 订单物流 、售后处理 关注 "洞见好物馆" 不迷路 ▽ 01 儒意何首乌洗发水 黑发、去屑、控油 一根白发，显老10岁！ 今天就趁这个机会， 再 给大家盘点几款真正实力强、性价比高的国货之光， 让你花最少的钱， 也能买到最好的东西： 这些是我们经过长时间的 试用、测评 ， 社群读者好评 反馈后，选出的 使用体验好 、 价格 良心 、 效果出众 的"优质国货"。 请大家耐心的看完本文，您的认可是对"国货崛 ...

证券之星 吴凡 自2020年开启"男裤专家"战略转型以来，九牧王(601566.SH)近五年业绩表现仍不乐观。2024年，公司营 收实现4.13%的微增至31.81亿元，虽连续两年实现收入增长，但考虑到同期公司花费超13亿元的销售费 用，这份成绩单难言合格。九牧王董事长林聪颖在2024年年报中直言，公司经营承压，整体业绩未达到 预期目标。 证券之星注意到，除裤子主业外，九牧王近年对一二级市场的金融投资愈发热衷。2022年至2024年，公 司金融资产及股权投资规模占其总资产规模较高，达到44%、39%、40%。与此同时，投资风险性在财 报中持续显露，公司近三年金融资产及股权投资净收益持续为负，利润空间被进一步挤压，除2023年盈 利回暖外，2022年和2024年公司归母净利润分别下滑148.01%和7.86%。 投资业务近年连吞苦果 九牧王投资业务始于2014年，彼时传统服装零售行业受到电商等新模式、新技术的冲击，行业面临转 型，九牧王期望通过跨界投资探索第二条增长曲线，其中参与Pre-IPO项目成为其获益的重要方式。 例如在2014年，公司通过其子公司九盛投资斥资1.85亿元认购了财通证券6200万股。此后在 ...

为了不错过我们的推文，大家可以将我们「星标置顶」， 这样你看到我们推送的概率也会更高一些哦~ 在竞争激烈的服装市场中，九牧王作为男装领域的知名品牌，一直备受关注。然而，近期该公司却因一系列问题陷入舆论焦点。 6月26日，国内男装龙头上市公司九牧王发布公告，就上海证券交易所针对其2024年年度报告信息披露出具的《问询函》作出正式回应。 公告显示，九牧王于2025年5月27日收到上交所《问询函》，此前公司未披露相关风险提示。监管层在问询中聚焦三大核心议题：其一，关于资金使用与 债务结构合理性，涉及货币资金存放细节、有息负债用途及偿付安排等；其二，关于金融投资与股权投资的合规性及风险，涵盖投资资金来源、业绩影响 及退出可行性等；其三，关于主营业务经营与财务数据异常，包括收入成本匹配性、毛利率波动及供应链关联交易合规性等。 尽管九牧王在公告中对相关问题进行了一一回应，但细究内容，部分关键信息的披露仍有待进一步明晰。6月27日，南都・湾财社记者就市场关切的核心 议题向九牧王正式发出采访函，但截至发稿尚未收到该公司的进一步反馈。 跨界投资亏损引关注 诞生于1989年的九牧王深耕男裤赛道，品牌以男裤为战略核心，延伸布局西装 ...

Company Performance - Levi Strauss (LEVI) closed at $18.87, reflecting a +2.06% change from the previous day's closing price, outperforming the S&P 500 which saw a loss of 0.11% [1] - Over the last month, Levi Strauss shares increased by 8.19%, surpassing the Retail-Wholesale sector's gain of 2.53% and the S&P 500's gain of 5.17% [1] Upcoming Earnings - The upcoming earnings report for Levi Strauss is scheduled for July 10, 2025, with projected earnings of $0.14 per share, indicating a year-over-year decline of 12.5% [2] - Revenue for the same quarter is expected to be $1.37 billion, reflecting a 5.23% decrease from the previous year [2] Annual Estimates - For the annual period, Zacks Consensus Estimates predict earnings of $1.23 per share and revenue of $5.97 billion, representing declines of -1.6% and -6.11% respectively from the previous year [3] - Recent revisions to analyst forecasts for Levi Strauss are important as they indicate short-term business trends and can reflect analysts' outlook on the company's health and profitability [3] Valuation Metrics - Levi Strauss is currently trading at a Forward P/E ratio of 15.03, which is lower than the industry average Forward P/E of 17.38 [6] - The company has a PEG ratio of 1.74, compared to the Retail - Apparel and Shoes industry average PEG ratio of 1.94 [6] Industry Ranking - The Retail - Apparel and Shoes industry, which includes Levi Strauss, ranks 187 in the Zacks Industry Rank, placing it in the bottom 25% of over 250 industries [7] - Research indicates that industries in the top 50% of the Zacks Rank tend to outperform those in the bottom half by a factor of 2 to 1 [7]