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© Reuters. File photo: People pass by the Levi Strauss store in New York City, USA on March 19, 2019. REUTERS/Brendan McDermid/File Photo
(Reuters)-Levi Strauss & Co exceeded quarterly revenue expectations on Thursday as the company benefited from increased demand for its jeans, tops and jackets from customers returning to normal life after the COVID-19 vaccination.
Colleagues, including American Eagle (NYSE:) and Abercrombie & Fitch, said that as customers abandon pajamas and casual wear for work at home, and switch to outdoor clothing, sales will increase.
Levi also predicts that revenue in the second half of fiscal 2021 will increase by 28% to 29% over the same period of the previous year. It predicts that sales in the second half of the year will be higher than before the pandemic.
Net income in the second quarter increased to US$1.28 billion from US$497.5 million in the same period last year.
According to Refinitiv’s IBES data, analysts’ average expected revenue is US$1.21 billion.
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