The death of denim isn't upon us--yet.
Or, at least, that's what some investors can take away from Real Money's Stock of the Day, Levi's (LEVI) , earnings beat.
In its first earnings report since it IPO'd, Levi's posted quarterly earnings of 37 cents a share on revenue of $1.44 billion.
A year earlier, the jeans company reported a loss of 5 cents a share on revenue $1.34 billion. The period included a $136 million charge from the U.S. tax overhaul.
Levi Strauss was a public company from 1971 until 1985, when it was taken private. It went public again in March at an offering price of $17 a share and closed on Tuesday at $21.88.
"We delivered our sixth consecutive quarter of double-digit constant-currency revenue growth," said Chip Bergh, president and CEO. "Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off."
The company reported gross margins of 54.6% in its fiscal first quarter while operating income rose 15% year over year to $201 million.