HBI

Hanesbrands Inc.

6.30
USD
-1.02%
6.30
USD
-1.02%
6.22 17.80
52 weeks
52 weeks

Mkt Cap 2.22B

Shares Out 349.15M

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Levi Strauss earnings miss sends apparel stocks lower

Levi Strauss (NYSE:LEVI) rattled the apparel sector with an earnings report that included consensus misses across the board and a guide-down. On Wall Street, Wells Fargo said LEVI's 43% jump in inventory also looks like an overhang that bears will poke at. Growing near-term headwinds and additional uncertainty around the direction of the U.S. consumer is seen keeping multiple expansion on pause for now for LEVI. Investors are taking the report as a potential sign of a rough earnings season with apparel sellers, especially after LEVI management warned in trends in Europe during the earnings call. Notable decliners on Friday included Kontoor Brands (KTB) -7.05%, Hanesbrands (HBI) -3.66%, Canada Goose (GOOS) -3.33%, Capri Holdings (CPRI) -2.55%, PVH Corporation (PVH) -2.22%, and Ralph Lauren (RL) -2.19%. Dig further into the LEVI earnings report or read the earnings call transcript.

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