Levi's Drop in Revenue Offset by Big Jump in Online Sales

By Sheridan Fifer

Levi Strauss and Co. has weathered these months of pandemic better than anyone expected. Revenue took a 27% hit, and net income fell 78%, but all this was not as bad as had been predicted in light of the store closures and economic uncertainty. Levi's online sales grew 52%, offsetting the losses elsewhere. The company is also seeing progress in its women's business. Levi's wants its women's category to account for 50% of its sales one day. In 2015, it only accounted for 20%; today, it is at 37%. 

Levi’s said it expects its business to be significantly hurt from the uncertainty created by the pandemic for at least the rest of 2020, with the possibility of coronavirus-related charges weighing on its results. 

Read the full story at CNBC.