Renowned blue jeans manufacturer and clothing retail giant Levi Strauss & Co. (NYSE: LEVI) reported several strongly positive metrics today as part of its first quarter 2020 earnings report, despite the threadbare performance of the U.S. economy overall as it gets walloped by COVID-19. While the coronavirus pandemic's effects are visible in the reported figures, Levi Strauss still beat analyst estimates in several key areas.
Wall Street analysts expected the company to deliver adjusted earnings per share of $0.35. Instead, Levi Strauss generated $0.40 EPS, beating expectations by nearly 14.3%. In a similar vein, analysts forecast the retailer's net revenues for the quarter at $1.47 billion, but in fact revenues topped this prediction by 2.72%, coming in at $1.51 billion.
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