Levi’s is feeling a Beyonce boost

The Street

TheStreet’s Caroline Woods brings you the biggest news of the day, including what investors are watching and why Levi’s is getting a big boost from Queen Bey.

Transcript

00:00 I'm Caroline Woods reporting from the New York Stock Exchange.

00:03 Here's what we're watching on the street today.

00:06 Investors are reacting to a batch of corporate earnings reports.

00:09 Morgan Stanley, Bank of America and UnitedHealth all posted solid results.

00:14 Of the less than 10 percent of S&P 500 companies that have released earnings, four out of every

00:19 five have surpassed Wall Street's estimates.

00:23 In other news, Levi's Denim is having a moment and it's all thanks to Queen Bey.

00:27 After the release of Beyonce's hit new song "Levi's," the denim brand saw fans buying

00:32 up denim jeans, denim jackets and western clothing.

00:36 According to foot traffic data from Passby, visits to Levi's physical stores rose 20 percent

00:41 during the week of Easter Sunday compared to the last three years.

00:46 Levi's stock also saw a nice pop after the song was released Thursday, soaring 20 percent.

00:51 It's not just Levi's experiencing a boost from Queen Bey.

00:54 With songs like "Texas Hold 'Em" and "16 Carriages," western boot sales have also jumped.

01:00 Sales for boots increased by 24 percent the week that Beyonce released the western album

01:04 Act 2, "Cowboy Carter," and another 45 percent the week after when the hit "Texas Hold 'Em"

01:11 topped the charts, according to data from market research firm Circana.

01:14 Beyonce made history as the first black woman to come in at No. 1 for the country albums

01:19 chart with her album Act 2, "Cowboy Carter," according to Billboard.

01:24 That'll do it for your daily briefing from the New York Stock Exchange.

01:27 I'm Caroline Woods with The Street.

01:29 Thanks for watching.

01:30 Be sure to check out some of our other videos on our YouTube channel.

01:31 And don't forget to subscribe for more videos just like this one.

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