Shares of Levi Strauss (LEVI) are jumping on Wednesday in after-hours trading after the company posted its first-quarter earnings, revealing revenue of $1.56 billion, which was in line with expectations. The apparel company also raised its full-year adjusted earnings per share (EPS) forecast and noted that its direct-to-consumer business accounts for almost 50% of all revenue.

Yahoo Finance Anchors Josh Lipton and Julie Hyman break down the latest development for Levi Strauss and give insight into what that could mean for the company moving forward.

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Editor's note: This article was written by Nicholas Jacobino

Video Transcript

JULIE HYMAN: We're watching shares of Levi Strauss jumping after the jeans maker raised its full year forecast for adjusted earnings per share. The company did post a first quarter loss of $11 million amid ongoing restructuring efforts. It's a big swing from the $115 million profit saw during the same period last year, but it did beat estimates.

Revenue fell year-over-year during the quarter. Again, it also beat Wall Street estimates. So interesting. I mean, Michelle Gass, who is a relatively new CEO of the company, has been trying to turn it around, has been cutting costs there. One call out that I thought was particularly interesting here from Harmit Singh, the CFO, in the statement, he called out Europe, in particular. He said our global productivity initiative is progressing well and improving profitability. And he said we're encouraged by trends in our business around the world, including in Europe.

Now why am I calling out including in Europe? Because--

JOSH LIPTON: Why are you, Julie?

JULIE HYMAN: Because of PVH, which came out yesterday and said Europe was not doing so well. So I'm guessing-- I mean, I don't know for sure, this statement was probably lawyered and approved days ago.

JOSH LIPTON: For sure.

JULIE HYMAN: But it's interesting that it's a contrast.

JOSH LIPTON: It is, Julie. The new executive you mentioned there as well, who takes over from Chris Berg, who was a well-respected exec. He was sort of credited with really kind of revitalizing the company, Julie, and the brand. And she's kind of-- she has talked publicly about her strategy here, which is interesting. It's going to be less department stores, more boutiques, not just jeans. Are you aware that the Canadian tuxedo apparently is having kind of a moment right now?

JULIE HYMAN: I know that every time we talk--

JOSH LIPTON: That head-to-toe denim look.