Earnings Results: Levi’s stock rallies on earnings beat and sales forecast, despite tougher foreign-exchange headwinds

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Shares of Levi Strauss & Co. rallied after hours on Wednesday after the jeans maker reported fourth-quarter results and a full-year sales forecast that beat expectations, as a strong performance at its own stores clashed with a harsher foreign-exchange backdrop.

The company reported fourth-quarter net income of $151 million, or 38 cents a share, compared with $153 million, or 37 cents a share, in the same quarter last year. Sales slipped 6% to $1.59 billion, compared with $1.69 billion in the prior-year quarter.

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