Levi Strauss shares have jumped close to 8% in pre-market trading, after the company released 1st quarter results. Since returning to the public market, this is the company’s first report.
Earnings per share increased from -$0.05 to $0.37 and revenue increased from $1.34 billion to $1.44 billion.
“Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off,” CEO Chip Bergh said in a release, referring to the Americas, Europe, and Asia.
According to Markets Insider, “At $717 million, Levi’s IPO is the third-largest completed debut in the US this year, behind Lyft ($2.34 billion) and and Tradeweb ($1.24 billion). All three were oversubscribed, meaning investor demand exceeded the number of shares issued.”