Levi Strauss & Co. (NYSE:LEVI) starts October with the street looking ahead to next week’s fiscal Q3 print and a recently announced change to the company’s financial leadership team. With the stock finishing October 1 at $19.92, up 1.12% on the day, and following a September largely spent trading around the $20 level, the stock remains well off its summer highs. The coming report will be an important catalyst to create a broader rerate on the stock if its growth in direct to consumer and stronger full year guide become bid.

In the interim, there has been progress on the operating front that has not been fully reflected in the stock. The company delivered broad-based revenue growth and improved margins in Q2, leading to better cash…