Q1 Rundown: Levi's (NYSE:LEVI) Vs Other Apparel, Accessories and Luxury Goods Stocks

As the Q1 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers in the apparel, accessories and luxury goods industry, including Levi's (NYSE:LEVI) and its peers.

Within apparel and accessories, not only do styles change more frequently today than decades past as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel, accessories, and luxury goods companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 11 apparel, accessories and luxury goods stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 0.8%. while next quarter's revenue guidance was 3.9% below consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, but apparel, accessories and luxury goods stocks have shown resilience, with share prices up 6.2% on average since the previous earnings results.

Levi's (NYSE:LEVI)

Credited for inventing the first pair of blue jeans in 1873, Levi's (NYSE:LEVI) is an apparel company renowned for its iconic denim products and classic American style.

Levi's reported revenues of $1.56 billion, down 7.8% year on year, in line with analysts' expectations. It was a decent quarter for the company, with an impressive beat of analysts' earnings estimates.

The stock is up 23.2% since the results and currently trades at $23.

Read our full report on Levi's here, it's free.

Best Q1: Figs (NYSE:FIGS)

Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE:FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.

Figs reported revenues of $119.3 million, down 0.8% year on year, outperforming analysts' expectations by 1.6%. It was an impressive quarter for the company, with a decent beat of analysts' revenue, operating margin, and EPS estimates.

The stock is down 6% since the results and currently trades at $5.3.

Is now the time to buy Figs? Access our full analysis of the earnings results here, it's free.

ThredUp (NASDAQ:TDUP)

Founded to revolutionize thrifting, ThredUp (NASDAQ:TDUP) is a leading online fashion resale marketplace that offers a wide selection of gently-used clothing and accessories.

ThredUp reported revenues of $79.59 million, up 4.8% year on year, falling short of analysts' expectations by 0.9%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.

ThredUp delivered the fastest revenue growth but had the weakest full-year guidance update in the group. The stock is up 13.4% since the results and currently trades at $2.12.

Read our full analysis of ThredUp's results here.

Ralph Lauren (NYSE:RL)

Originally founded as a necktie company, Ralph Lauren (NYSE:RL) is an iconic American fashion brand known for its classic and sophisticated style.

Ralph Lauren reported revenues of $1.57 billion, up 1.8% year on year, in line with analysts' expectations. It was a mixed quarter for the company: Ralph Lauren narrowly topped analysts' constant currency revenue and EPS expectations. On the other hand, its operating margin and full-year revenue guidance fell short of estimates.

The stock is up 7% since the results and currently trades at $175.66.

Read our full, actionable report on Ralph Lauren here, it's free.

Kontoor Brands (NYSE:KTB)

Founded in 2019 after separating from VF Corporation, Kontoor Brands (NYSE:KTB) is a clothing company known for its high-quality denim products.

Kontoor Brands reported revenues of $631.2 million, down 5.4% year on year, surpassing analysts' expectations by 3.8%. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates.

Kontoor Brands pulled off the biggest analyst estimates beat among its peers. The stock is up 15.1% since the results and currently trades at $71.48.

Read our full, actionable report on Kontoor Brands here, it's free.

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