Levi Strauss climbs to near record as earnings growth impresses

Levi Strauss gained 7% in early trading Wednesday after its first earnings report as a public company showed revenue grew near the high end of the company’s expectations, helped by categories outside its main denim lines and in Asia.

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Shares climbed above $23 a piece as of 06:45 in New York, approaching last week’s highs. The stock has climbed 29% since its debut last month. Levi on Tuesday said revenue grew 7% compared with the year-ago period, helped by 28% growth in tops. Sales in the Americas rose 9%, while Asia rose 8% and Europe added 3%. 

Analysts have yet to start coverage or provide estimates for Levi, which re-entered the stock market on March 20. The investment community was unusually quiet on Tuesday’s earnings call, raising no questions during the Q&A session and prompting laughs from the company executives on the call.