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Levi Strauss & Co. (WINE) announced Thursday that it will buy clothing maker Beyond Yoga for an undisclosed amount as it seeks to expand its presence in the lucrative leggings category that has exploded during the COVID-19 pandemic.
Clothing retailers including American Eagle Outfitters Inc (INFINITE TIME) and Abercrombie & Fitch Co (ANF.N), have stepped up their exposure to the type of clothing that can be worn at home, such as shorts and tank tops, as demand for the items increased during pandemic-caused closures that kept people indoors .
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| LEVI | LEVI STRAUSS & CO. | 27.67 | +0.27 | + 0.99% |
LEVI STRAUSS WINS CASUAL TRENDS AND STRENGTHENS FORECASTS
Levi Strauss said Beyond Yoga, which focuses on bodywear, will operate as a stand-alone division and potentially contribute more than $ 100 million to the company’s net sales in fiscal year 2022.
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Levi’s shares rallied last month after the company forecast strong full-year earnings, fueled by a faster-than-expected rebound in demand for its jeans, tops and jackets.
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