Levi Strauss' buoyant year took a sour turn today after the company projected underwhelming fourth quarter sales.
Between the lines: CFO Harmit Singh last night cited "headwinds" such as a lagging performance in China and the company's struggling Dockers khakis brand.
The company lowered its full-year revenue forecast to 1% growth from a previous forecast of 1% to 3%.
Levi shares fell 7.7% today.
The big picture: The denim maker has been on the comeback trail under CEO and former Kohl's boss Michelle Gass, having recaptured its cool factor when superstar Beyoncé featured the brand in a song. (That's since turned into an official campaign.)
A surge of alternatives to newly popular weight-loss drugs is facing its biggest test yet after the FDA warned companies against skirting regulatory standards to put them on the market now that shortages are waning.
Why it matters: Widespread shortages of GLP-1 drugs such as Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Zepbound and Mounjaro have triggered a rush of companies seeking to exploit a loophole that allows them to sell compounded versions of the injections.
Una Pulizzi joined IT services company Kyndryl as global head of corporate affairs shortly before its spinoff from IBM in 2021.
Why it matters: Since then, Pulizzi and her team have been working to execute the new strategy, establish a sense of corporate culture and build the brand.
Hundreds of business leaders spoke out following the Hamas-led terrorist attack on Israel last October. However, as the one-year mark approaches, most plan to stay quiet.
Why it matters: The dynamics in the Middle East have grown more complex and polarizing, making business leaders more reticent to comment than a year ago.
Bain Capital is supporting a share buyback plan by Korea Zinc, the world's largest refined zinc smelter, which is designed to prevent what it argues is a "hostile" takeover by MBK Partners.
The big picture: This is a bitter fight between the founding families of a $12 billion metals giant, each of which now has a deep-pocketed private equity firm on its side.
The acquisition of Dish Networks by DirecTV is a deal 22 years in the making — and there are numerous ways it can fall apart.
Why it matters: Even by the standards of media dealmaking, this is an astonishingly convoluted deal, featuring highly sophisticated players — TPG and Charlie Ergen — who, despite being on opposite sides of the table, are teaming up to get concessions from an equally sophisticated group of bondholders.
Here's what's new on Netflix, Prime Video, Max, PBS, Hulu, BET+, Apple TV+ and Peacock.
What we're watching: There's a new season of "Love Is Blind," a thriller about a haunted restaurant and a new comedy that pokes fun at superhero filmmakers.
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