BUZZ - Levi Strauss shares drop due to weak sales in the US and Europe

October 8 - ** Shares of jeans maker Levi Strauss (LEVI.N) fell 1.3% in premarket trading to $19.25

** The company reported (link) lower-than-expected sales in the United States and Europe

** BTIG said: "This quarter, Levi’s direct-to-consumer (DTC) business in Europe was hit by unusually warm weather, but as temperatures normalized, foot traffic and sales trends improved and maintained a positive momentum in early Q4"

** The broker also noted that the company continues to show strong performance in wholesale, e-commerce, and jeans market share metrics, but its 'back-to-school' marketing campaign fell short of expectations

** On Wednesday, the company benefited from tariff rebates, raised its annual profit forecast, and is betting on strong demand for its premium jeans and sweaters during the holiday season

** The average rating from 16 analysts is "buy"; the median target price is $27 — data compiled by LSEG

** As of the close of the previous trading day, the stock is up 6% for the year

(To facilitate non-English speakers, Reuters automatically translates its reports into several other languages. As automated translations may contain errors or lack context, Reuters does not guarantee the accuracy of the automated translated text and provides it solely for readers' convenience. Reuters assumes no responsibility for any damage or loss resulting from the use of automated translation tools.)