Shares of Levi Strauss & Co. (LEVI) dropped on Thursday morning despite reporting an 8% rise in sales in its second quarter results. The apparel company laid out plans to cut back on costs by selling more directly to consumers.
Levi Strauss CFO Harmit Singh joins Catalysts alongside Yahoo Finance Executive Editor Brian Sozzi to give insight into the company’s performance and how it may operate moving forward.
"As we’re making this pivot to a DC-first company, we have a project that’s called Fuel, which is really about rewiring the company. We are looking at our go to market calendar and our thought is that we can make it shorter and faster and get a lot more agile. We have already reduced our SKUs which will begin impacting in the first half of next year by close to 15% and I think we can go more, and, by doing this, our view is we create the capacity to really expand the TAM," Singh tells Yahoo Finance.
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