By Suzanne Kapner and Sabela Ojea
Levi Strauss Chief Executive Michelle Gass said the jeans maker will be "surgical" with any price hikes, rather than make across-the-board changes in response to tariffs.
The company has created a task force to look at tariff-mitigation strategies, including cost cutting, wringing concessions from suppliers and consumer price increases. "We believe the brand has pricing power," Gass said.
Levi's makes many of its products in Asian countries subject to prospective high tariffs, such as Bangladesh, Cambodia and Vietnam. But it has already imported most of the products it needs for the spring and summer seasons. Only 1% of the products it imports to the U.S. are made in China, which faces the highest tariff rate.
Late Monday, the retailer posted better-than-expected adjusted quarterly earnings per share, and said it saw minimal impact from tariffs this quarter. Shares jumped 12% in premarket trading early Tuesday.
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(END) Dow Jones Newswires
April 08, 2025 06:35 ET (10:35 GMT)
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