Levi Strauss Tops Earnings Estimates, Lifts Full-Year Outlook Despite Revenue Decline

• Levi Strauss beat Q1 earnings estimates and raised full-year guidance • Revenue down 8% but adjusted for one-time impacts, would have been flat • Shift to direct-to-consumer (DTC) channel helping profitability • Adjusted EPS $0.26 topped estimates of $0.21 • Maintained full-year revenue outlook of 1-3% growth, raised EPS guidance $1.17-$1.27