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In a recent interview with CNBC’s Jim Cramer, Levi Strauss CEO Michelle Gass revealed some fascinating trends in the denim industry. Gass highlighted the growing popularity of “top-to-bottom” denim outfits, including denim skirts and dresses. These items, which were historically not big sellers for the company, saw a triple-digit increase in sales in the last quarter.
While Levi Strauss beat Wall Street’s earnings expectations, it slightly missed on revenue, causing shares to drop by nearly 13% in extended trading. Despite this, Gass remained optimistic about the company’s future, citing the success of the direct-to-consumer business and the women’s category. Sales were particularly strong in the U.S., Levi’s largest market.
Gass also addressed supply chain issues from the previous year, stating that the company has seen a significant improvement in execution. She expressed confidence in Levi Strauss’s momentum for the second half of the year, noting that consumers have been resilient and excited about the denim category.
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