Levi Strauss (LEVI) stock is down more than 16% in Thursday's session after the denim giant came up just short of analysts' revenue expectations for its fiscal second quarter.
In the three months ended May 31, Levi said revenue increased 7.8% year-over-year to $1.44 billion, which included an 8.2% rise in its direct-to-consumer (DTC) segment sales to $672.5 million. Its earnings per share (EPS) rose to 16 cents from 4 cents in the year-ago period.
