Why Levis Strauss Stock Dropped Today

Levi Strauss (NYSE: LEVI) stock tumbled 7% through 11:55 a.m. ET this morning after the company reported mixed earnings last night. Analysts expected the company to earn $0.31 per share, adjusted for one-time items, and Levi beat that guess, reporting an adjusted profit of $0.33 per share in the fiscal third quarter, ended Aug. 25. However, the Street also wanted to see $1.55 billion in quarterly sales, and the most Levi could muster was $1.52 billion.In fact, the company failed to grow its revenue at all in Q3 (although in "constant currency" management says sales should have grown 2%). The good news is the company did improve its gross profit margin by 440 basis points to 60%. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool