Needham praised Levi Strauss's appointment of John Vandemore as chief financial officer, replacing Harmit Singh. Vandemore previously served as CFO of Skechers for 9 years, helping build it into one of the world's largest footwear brands with over $9B in revenue, and earlier held senior finance roles at Mattel, Disney, and International Game Technology. Analyst Tom Nikic said the firm views the appointment positively, citing Vandemore's experience across a similar global lifestyle brand with roughly similar margin profiles of about 10% EBIT margin, about 50% of revenue from the Americas, and a split of roughly 55% wholesale and 45% DTC. Needham maintains a Buy rating on Levi Strauss with a price target of $28.00.
Levi Strauss & Co Class ANeedham praised Levi Strauss's CFO appointment and maintained Buy with $28 price target.
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