Leading jeans brand Levi Strauss (NYSE: LEVI) is scheduled to report second quarter 2019 earnings results after the closing bell on Tuesday, July 9. Analysts expect the company to report earnings of 13 cents per share, on revenues of $1.3 billion.
During the last-reported quarter, the San Francisco, California-based firm swung to an adjusted net profit of $151 million, from a loss in the prior-year period. However, this was not because of the operational performance during this year, but due to the accumulation of some one-off charges last year.
Net revenues grew by 7% to $1.44 billion, half of which was contributed by the Americas.
Look out for any management discussions relating to capital deployment or opening of new stores. During the last quarter, the company had said that it anticipates capital expenditures of about $190 million to $200 million, and nearly 100 new company-operated store openings in fiscal 2019.
After becoming a private company in 1985, the denim company had returned to the public market in March this year. The company, which offered its shares at $17 apiece, has seen its shares rise 28% since then.
Analysts remain quite divided about their opinion on the stock. Three of the six analysts covering LEVI have Buy rating, while the rest three recommend Hold. The stock has a 12-month average price target of $24.67, suggesting upside of 13% from the last close.
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