Levi Strauss Co (LEVI)

LEVI's stock fell 7.73% following a downward revision of its annual forecast. The company acknowledged the relevance of its inventory problems but attributed the reduction to lower-than-expected revenue and margin, as well as the impact of a strong dollar.

https://www.marketwatch.com/story/u-s-stock-futures-ease-ahead-of-jobs-report-ed3b6587

Levi Strauss reported a lower profit in its fiscal first quarter compared to the previous year due to rising costs, including unfavorable currency fluctuations, higher product costs, and fewer full-priced sales. However, the company was able to partially offset the impact with lower air freight expenses and higher overall prices. As a result, Levi Strauss shares fell by over 14% to $15.43.

https://www.wsj.com/livecoverage/stock-market-news-today-04-06-2023/card/levi-stock-drops-after-company-reports-lower-profit-X0viHEY0Xdj16Gl3h02w#:~:text=The%20stock%20(LEVI)%20was%20recently,offset%20some%20of%20the%20impact.