Levi Strauss & Co said on Tuesday a majority of its stores in China, where the coronavirus outbreak first emerged in December, were open with sales recovering on a weekly basis and digital sales rising last month.
The company also reported better-than-expected earnings and revenue for the first quarter ended Feb. 23, even as sales in Asia declined due to store closures, sending Levi's shares up about 3per cent.Like many U.S. retailers, Levi's has been hit by the coronavirus crisis as lockdowns in China and the United States to curb the spread of the infection forced store closures. Levi's has stood through the world wars and the 1918 flu pandemic in its 167-year history.
Traffic and sales in the region remained down, but weekly sales performance was sequentially improving, the company said, adding that sales from its websites and other online platforms grew in March powered by demand for women's wear.
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