Levi's Shares Soar as Cost Cuts and Direct Sales Boost Outlook Under New CEO

Levi Strauss shares jumped 20% to a 2-year high as it raised its profit forecast, thanks to cost cuts and direct sales focus under new CEO
Nearly half of Q1 revenue came from direct-to-consumer sales through own stores and website
New CEO Michelle Gass has cut jobs to reduce costs amid challenging wholesale channel and unpredictable consumer demand
Jeans category has stabilized in the U.S. after years of volatility; baggy women's styles launched this quarter were especially popular
Analysts optimistic about signs of business turnaround under new leadership, but Europe rebound in second half remains a risk