From Yahoo Finance:
The pandemic has expanded waistlines and fattened Levi's sales
Levi Strauss (LEVI) says it's seeing a new type of U.S. consumer coming out of the other side of the pandemic — one with a much different waistline than when the pandemic began more than a year ago.
And that is helping to spur strong sales of looser fitting Levi's jeans (which are higher priced) among other key styles, explained Levi's CFO Harmit Singh on Yahoo Finance Live.
In reality, the lack of mobility caused by the pandemic has caused most consumers to gain a lot of weight — making the pants in their closet unusable for their return to post-COVID life. About 42% of people polled in a recent survey from the American Psychological Association said they gained more weight than they intended during the pandemic. Of those surveyed, the average weight gain has tallied 29 pounds. Roughly 10% of those surveyed said they gained more than 50 pounds.
Levi's has seen a swift lift in business as a result of the need to rebuild closets....
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