Wall Street Breakfast LEVI loses its stitch, weighs Dockers sale
Oct 3, 2024
Levi Strauss is feeling the pressure with lackluster revenue forecasts and plans to potentially sell the Dockers brand. Tesla has pulled its cheapest Model 3 variant from the U.S. market, amidst rising tariffs affecting the EV sector. Meanwhile, Boeing faces labor disputes after health benefits for striking workers were cut. The discussion also highlights the latest stock market movers and notable corporate updates.
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Levi Lowers Guidance And Weighs Dockers Sale
- Levi Strauss cut revenue-growth guidance and is exploring a potential sale of its Dockers brand.
- The move follows slowing sales and mixed regional results that pressured revenue versus expectations.
Profit Beat Masks Revenue Miss
- Levi reported an adjusted profit beat and margin expansion from lower product costs and favorable mix.
- Revenue missed by $30 million and full-year sales expectations were trimmed, leaving EPS guidance below consensus.
Tesla Drops Cheapest Model 3
- Tesla removed its cheapest Model 3, the standard range RWD, citing higher tariffs and component costs.
- That left the long-range RWD as the lowest-priced U.S. Model 3 and affected eligibility for the $7,500 federal tax credit.