By Reuters Staff
2 Min Read
(Reuters) - Levi Strauss & Co on Thursday raised its half-year revenue growth forecast, banking on COVID-19 vaccine rollouts to spur a return to normalcy, after the denim maker beat estimates for quarterly results on a pandemic-led e-commerce boost.
FILE PHOTO: Products are displayed at a Levi Strauss store in New York, U.S., March 19, 2019. REUTERS/Shannon Stapleton/File Photo
Shares in the company rose 5% in extended trading, as it also raised its quarterly dividend to 6 cents per share from 4 cents.
Many apparel sellers, including Nike Inc and Kohl’s Corp, have also expressed similar optimism about store traffic rebounding to normal levels, even as online sales have boomed amid the health crisis in recent months.