Levi's jeans increasingly sold on the internet, the action is soaring

Online sales of the legendary Levi's jeans have jumped since the start of the pandemic to now represent a quarter of the revenue of the American group Levi Strauss, which flew to Wall Street on Tuesday.

Read also: Levi's jeans sales drop 62%, the group lays off 700 people

The company's total revenue was admittedly down 27% in the three months ending Aug. 23, due to fewer customers in stores and the closing of some establishments, the company said in a statement.

But the revenue generated by online sales, on the group's sites or those of its partners, has increased by around 50%.

In total, revenue reached $ 1.06 billion, surprising analysts who expected just $ 822 million.

At the same time, the group raked in $ 27 million in profits.

Adjusted per share, it comes down to 8 cents when analysts expected a loss.

"The ultimate impact of the pandemic remains very uncertain"

In electronic trading following the close of the New York Stock Exchange, the stock rose more than 13% after the publication of these results.

At just over $ 16, it remains below its pre-pandemic level, at around $ 20.

The group took a little time to adjust to the arrival of the Covid-19, its sales falling by 62% at the height of the confinement.

He announced in July the dismissal of 15% of its office workforce, or 700 people.

the group said on Tuesday.