Levi Strauss (NYSE: LEVI) delivered a fourth-quarter earnings report in late January that was mostly within investors' expectations. The stock price was little changed following the news, but over the last three months, the shares have rebounded about 15% off their recent lows.
Investors have been laser-focused on Levi's weak-performing U.S. wholesale business, which has been a heavy anchor weighing on revenue growth in recent quarters. That segment reported another decline of 4% in the fourth quarter in the Americas region; although adjusting for a few abnormal factors, U.S. wholesale revenue was flat year over year.
Despite that, there were three areas that stood out signaling that the No. 1 jeans brand is starting to turn a corner.