Levi Strauss & Co. provided earnings guidance for the full year of 2020. For the full year of 2020, the company expects to report net revenues growth of around 7% in constant-currency, and around 6% in reported dollars; this estimate incorporates anticipated benefits of a Black Friday week in the first quarter, and a 53rd week, which will fall in the fourth quarter and will include a second Black Friday; additionally, the benefit of the company’s acquisition of a distributor in South America is expected to be substantially offset by a change in ownership of the company’s U.S. footwear distributor, which has been purchased by one of the company’s licensee partners, which will result in a license revenue stream replacing what formerly was wholesale sales to the footwear distributor.