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00:02Levi Strauss raised its profit outlook after receiving tariff refunds but lowered its revenue
00:06growth expectations, according to CNBC.
00:09The company raised its full-year adjusted earnings outlook to $1.54 to $1.56 per share,
00:15up from $1.46 to $1.52, compared with analysts' expectations of $1.52 to $1.59.
00:24Levi Strauss lowered its full-year net revenue growth guidance to 7 percent.
00:27The bottom of its previous 7 percent to 7.5 percent range.
00:32Third-quarter adjusted earnings were $0.48 per share and revenue of $1.61 billion,
00:37compared with Wall Street's revenue expectation of $1.62 billion.
00:42Tariff refunds contributed 4.9 percent to operating and gross margin and provided a $0.16 benefit to earnings per
00:48share.
00:49Direct-to-consumer revenue increased 2 percent, with comparable sales roughly flat, while wholesale revenue rose 6 percent.
00:56CEO Michel Gass said the company is taking targeted actions
01:00after direct-to-consumer performance fell short of expectations.
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