Levi Strauss & Co. (LEVI) stock tumbles after the company trimmed its full-year outlook. Harmit Singh, Levi Strauss & Co.’s chief financial and growth officer, joins Seana Smith and Brad Smith along with Yahoo Finance’s Executive Editor Brian Sozzi on Catalysts to discuss the company’s quarterly results and what it says about the health of consumer spending. Singh tells Yahoo Finance, “Despite coming in at the low end of our range on revenue, we believe the underlying fundamentals of our business are getting stronger and profitability is improving.” He highlights growth for the Levi’s brand, specifically with the women’s segment gaining market share while maintaining leadership for men’s business, but notes there was weakness in the China and Mexico regions as well as underperformance from the Dockers brand. The CFO says, “We feel really good about the consumer, you know, despite the macro headwinds and the uncertainty.” He explains, "Levi’s was up globally. The denim category is having a moment globally… The uncertainty centers around the port strike, which we hope doesn’t last too long, the war in the Middle East, [and] the fact that the lower-end consumer is probably a little bit more strained, resilient overall, but still a little bit more strained. What we are seeing is brands and consumers are responding to real good innovation and product pipeline.”
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