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Levi Strauss has been breaking out to fresh 52-week highs ahead of its Q3 (Aug) earnings on October 9, building on strong momentum from its Q2 beat-and-raise in July. The back-to-school season, a critical driver of demand for jeans and jackets, is a major factor for the upcoming report.

• Shares have rallied sharply since April, with bullish positioning likely ahead of Q3.
• Positive read-through from American Eagle's (AEO) strong Q2 results (40% of sales from denim) adds to optimism.
• CEO Michelle Gass, who took over in Jan 2024, is credited with accelerating the company's turnaround.

Levi's is making progress in its transformation into a DTC-first apparel brand, with direct-to-consumer now over 50% of total sales. The company is expanding beyond core denim into a broader lifestyle brand — including tops, dresses, outerwear, and non-denim bottoms — while improving profitability and SKU discipline.

• LEVI has exited Denizen, footwear, and is selling Dockers to sharpen focus on its higher-margin core brand.
• Marketing efforts — including celebrity partnerships with Beyoncé (REIIMAGINE campaign), Troye Sivan, and major global festivals — are driving cultural relevance and brand heat.
• Women's and international segments are also gaining share.

Briefing.com Analyst Insight:

Levi's comeback story is gaining credibility under new leadership. While macro headwinds persist, LEVI's premium pricing, DTC shift, and effective brand positioning are helping it outperform peers. The stock's recent run reflects rising confidence, but Q3 will be a key test. We're finally seeing a durable pivot from a legacy brand into a modern, lifestyle-forward apparel company — and the Street is noticing.