Levi Strauss (NYSE: LEVI), after remaining a private company for more than three decades, became public once again with an initial public offering (IPO) in March 2019. The company has been around for 167 years, surviving everything thrown at it. Aside from this impressive longevity, Levi Strauss has several other things going for it that should reward patient shareholders.
The coronavirus pandemic and its economic effects are a big unknown. With people staying home and unemployment rolls climbing by the millions over the last few weeks, Levi Strauss' short-term results will inevitably suffer. The recently-enacted $2 trillion stimulus package is an effort to thwart the downturn, but nobody knows how quickly the economy will recover.
Management is confident the company will emerge from the current crisis stronger than ever. And in these difficult times, investors may find comfort in a tried-and-true company like Levi Strauss.