- Though Wall Street had somber expectations for LEVI’s FQ3 sales and profits, it appeared that the market environment was not as depressed as pundits expected.
- As persisting ripple effects of the pandemic restrained sales at company-operated and third-party retail locations, the top line dipped 27%.
- Though closures of stores hamstrung sales and profits, LEVI’s managed to improve its net operating cash flow and deliver cash flow surplus, which looks especially impressive given the F9M loss.
- The management is expecting sales to climb back to the pre-coronavirus level “at some point in the second half of 2021”.
For further details see:
Levi Strauss: FCF, Strong Efficiency, Gradual Sales Recovery