July 14, 2024
Levi’s stock suffers worst day on record as earnings show inventory issues continuing

Levi’s stock suffers worst day on record as earnings show inventory issues continuing

Shares of Levi Strauss & Co. suffered their worst day on record Thursday, after the jeans maker topped revenue and profit expectations for its latest quarter but continued to deal with high inventory levels.

Levi’s LEVI stock declined 16% on Thursday, its worst daily percentage decline since the San Francisco-based jeans maker returned to the public markets in 2019. Shares, which sold for $17 in their initial public offering, closed at $15.14, their lowest closing price since Nov. 9, 2022.

Despite…

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