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Retail has struggled significantly all through the lockdown period of time and Levi Strauss & Co has been no exception, its Q2 earnings this 7 days present, with revenues tumbling 62 per cent, forcing the enterprise to make extraordinary moves in the direction of a electronic transition, even though laying off 700 folks — fifteen% of its workforce.
They also reflect the urgent have to have amid stores to modernise how they go to market, take care of facts and make use of merchants. Levi’s CEO Charles Bergh informed investors that for the enterprise the force was a threefold a single: Continuing to develop customer connections, second, boosting e-commerce and omni-channel capabilities and third, “accelerating the rate of digitizing the enterprise and leveraging AI and data”.
An earnings phone gave a snapshot: “We are making use of a facts-pushed