(Reuters) -Levi Strauss & Co beat quarterly revenue estimates on Thursday as the company benefited from higher demand for its jeans, tops, and jackets from customers returning to their normal routines following COVID-19 vaccinations.
Peers including American Eagle (NYSE:) and Abercrombie & Fitch all signaled a lift to sales as customers abandon their pajamas and work-at-home lounge wear for outdoor clothes.
Levi also forecast revenue to grow 28% to 29% from a year earlier in the second half of fiscal 2021. It forecast second-half sales to come in above pre-pandemic levels.
Net revenue rose to $1.28 billion in the second quarter from $497.5 million a year earlier.
Analysts on average had expected revenue of $1.21 billion, according to IBES data from Refinitiv.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.