Levi's Chief Executive Highlights Success of 'Head-to-Toe Denim Lifestyle'

Money | June 26, 2024, 9:13 p.m.

Levi Strauss CEO Michelle Gass revealed in an interview with CNBC's Jim Cramer that the demand for "top-to-bottom" denim ensembles is on the rise, with denim skirts and dresses surging in popularity. Despite slightly missing revenue expectations, the company exceeded earnings forecasts in its latest quarterly report, sending shares down by 13% in after-hours trading. Gass attributed the success to trends like looser-fitting clothing and the growing direct-to-consumer business, particularly in the women's category and the U.S. market. She also highlighted improvements in supply chain operations and expressed confidence in the company's momentum moving forward. Gass emphasized Levi Strauss' strong consumer base and optimism for the future of the denim category.