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Photo: Justin Sullivan/Getty Images

Levi Strauss & Co., the San Francisco-based jeans-maker, filed for a $100 million IPO. Expect that number to be a placeholder, with the WSJ reporting that Levi's plans to raise over $600 million at a valuation north of $3 billion.

Why it matters: After 145 years, it remains by far the most popular seller of denim pants, with a market share that's three times as large as its closest rival.

Details: Levi's plans to trade on the NYSE (LEVI) with Goldman Sachs as lead underwriter. It reports steady net income of around $285 million over each of the past two fiscal years, with revenue climbing from $4.9 billion to $5.6 billion.

  • Levi's previously went public in 1971, raising $50 million in what at the time was one of the largest-ever IPOs. It then was taken private in 1984 for $1.7 billion by descendants of the company's namesake.

The bottom line: "Levi’s plans to continue investing in both its own stores and its wholesale network. Levi’s operates 824 standalone stores, including 74 opened last year, but still derives about two-thirds of its revenue from more than 50,000 locations operated by third parties in 110 countries (including sister brands Dockers and Denizen)." — Cathaleen Chen, Business of Fashion

Go deeper ... Blue jeans go green: Levi's sets new emissions reduction goals

Go deeper

Biden says $1,400 stimulus payments can start going out this month

Photo: Samuel Corum/Getty Images

President Biden said Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.

Driving the news: The Senate voted 50-49 Saturday to approve the sweeping legislation. The House is expected to pass the Senate's version of the bill next week before it heads to Biden's desk for his signature.

7 hours ago - Health

COVID-19 drives smell loss awareness, research

A health worker carries out an olfactory test outside Buenos Aires. Photo: Alejandro Pagni/AFP via Getty Images

The pandemic has thrust a relatively unknown ailment, anosmia — or smell loss — into the international spotlight.

Why it matters: Researchers hope smell testing becomes as standard as the annual flu shot, helping to detect early signs of neurodegenerative diseases like Alzheimer’s and Parkinson’s.