- In a Wednesday interview with CNBC's Jim Cramer, Levi Strauss CEO Michelle Gass said the popularity of "top-to-bottom" denim outfits is growing.
- "Our new focus is, yes, continuing to own jeans, but taking that denim top to bottom," she said. "Things like denim skirts and denim dresses — which, historically, have not been big businesses for us — I mean, they're exploding, up triple digits in the quarter."
In a Wednesday interview with CNBC's Jim Cramer, Levi Strauss CEO Michelle Gass said the popularity of "top-to-bottom" denim outfits is growing.
"Our new focus is, yes, continuing to own jeans, but taking that denim top to bottom," she said. "Things like denim skirts and denim dresses — which, historically, have not been big businesses for us — I mean, they're exploding, up triple digits in the quarter."
The jeans maker posted its quarterly report on Wednesday, beating Wall Street's expectations for earnings but slightly missing on revenue. Shares sank nearly 13% in extended trading.
Besides the "head-to-toe denim lifestyle," Gass added other trends like baggier and looser items are on the rise. She said that much of this quarter's success came from the direct-to-consumer business and the women's category. Sales were especially strong in the U.S. — the company's biggest market.
Gass suggested that Levi Strauss has moved past supply chain issues it faced last year at this time, saying there's been a "step change in execution from a year ago." She also said the company is expecting "momentum to accelerate" in the second half of the year.
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"We see our consumers as being really resilient, and we're excited about the [denim] category," she said.
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