RTTNews | Apr 9, 2021 10:10AM EDT

10:09 Friday, April 9, 2021 (RTTNews.com) - Shares of Levi Strauss & Co. (LEVI) are gaining nearly 5% on Friday morning. The other day, the denim company reported higher-than-expected earnings for the first quarter as well lifted its sales guidance.

LEVI is currently trading at $26.23, up $1.21 or 4.84%, on the Nasdaq.

Levi Strauss reported first-quarter earnings of $142.5 million or $0.35 per share, down from $152.7 million or $0.37 per share last year. On an adjusted basis, earnings were $0.34 per share. Revenue slipped 13% to $1.31 billion. Analysts expected earnings of $0.24 per share on revenues of $1.25 billion.

Moving ahead, Levi Strauss said it expected its revenue to increase 24% to 25% for the first half of 2021, up from a prior range of 18% to 20%. Levi also expects adjusted earnings for the first-half of 2021 to be $0.41 to $0.42 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3183874/stock-alert-levi-strauss-gains-5-on-quarterly-earnings-outlook.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved