July 9, 2019 / 8:19 PM / 11 days ago

Levi Strauss quarterly revenue beats expectations

July 9 (Reuters) - Levi Strauss & Co reported better-than-expected quarterly revenue on Tuesday, as the jeans maker broadened its apparel lines, while benefiting from higher investment in its online business and retail stores.

The company’s net revenue rose 5.4% to $1.31 billion in the second quarter ended May 26, edging past average analysts’ estimate of $1.30 billion, according to IBES data from Refinitiv.

Net income attributable to the company fell to $28.2 million, or 7 cents per share, in the quarter from $74.9 million, or 19 cents per share, a year earlier, hit primarily by costs associated with the its initial public offering earlier this year. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva)

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