What's driving the troubles at the historic apparel maker? For one thing, people aren't really into "quarantine jeans" any more than they are into wearing uncomfortable shoes whilst working from home. Now, more than a year after its IPO, Levi's shares are still down far more than market benchmarks over the last 12 months, putting it behind so many other Silicon Valley-based companies that have enjoyed a resurgence in shares thanks to a software-driven platform.
Job postings at Levi's plummeted long before the decision to announce layoffs was made - but that is more likely to pertain to a combination of factory gigs and retail posts. The company made clear that corporate positions would be eliminated, and that retail and factory positions would not. After a steep drop coinciding with the pandemic's outbreak, we've more recently seen Levi's add 60% more job postings, marking only 25% of recent highs.
“It’s been an unprecedented quarter, and we have been swift and agile in responding to the impact of the pandemic on our business,” said Harmit Singh, executive vice president, and chief financial officer of Levi Strauss & Co., in a statement.
Above, tracking Levi's Facebook Talking About Count, we can see that social media attention had been dwindling for the brand over the last several months - a look at historical mentions also reflects Levi Strauss is sliding gauged against past years as well.
In our map below, we can track stores where Dockers are sold, plus stores operated by the brand, plus stores independently run by Levi's - last year, Levi's closed a deal to acquire the Dockers brand, which came along with dozens of physical retail locations that are now looking more like an albatross instead of an asset.
And, that - namely, real estate leases to keep stores open - could be part of what's driving the difficulty for Levi's.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.