Levi Strauss raises sales growth outlook on vaccine rollout hopes, Retail News, ET Retail

Levi Strauss & Co on Thursday raised its fifty percent-year revenue advancement forecast, banking on COVID-19 vaccine rollouts to spur a return to normalcy, soon after the denim maker defeat quarterly income estimates on a pandemic-led e-commerce increase.

Several apparel shops like Nike Inc and Kohl’s Corp have also expressed related optimism, even as online income have boomed in modern months. Customers, wary of stepping out of their residences through the health disaster, have taken to purchasing far more working with their mobile telephones.

“As the vaccine rollout proceeds and shopper excitement returns, I am far more confident than ever that we will arise from the pandemic a more robust business,” Levi Main Government Officer Chip Bergh said in a statement.

Levi said far more than forty% of its European retailers were closed as of Thursday, with the relaxation working on decreased hrs owing to lockdown restrictions.

The business raised

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