Shares of Levi Strauss soared 13% in premarket trading Tuesday, a day after the denim giant reported better-than-expected first-quarter profit and gave a relatively upbeat outlook on the Trump administration's new tariffs.

Levi Strauss Chief Executive Michelle Gass said the jeans maker will be “surgical” with any price hikes, rather than make across-the-board changes in response to tariffs. The company has created a task force to look at tariff-mitigation strategies,

Levi Strauss maintained on Monday its annual forecast for sales and profit, excluding the impact of tariffs, and posted quarterly profit ahead of Wall Street targets, sending its shares up more than 7% in after hours trade.