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Levi Strauss cuts annual profit forecast as consumers reduce apparel spending

Reuters/Business of Fashion 10/07/2022

Levi Strauss has reduced its annual profit forecast in the face of reduced consumer demand for its merchandise as a result of food and fuel inflation. The denim giant now expects to post a profit between $1.44 and $1.49 a share, down from its previous guidance ranging from $1.50 to $1.56.

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