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,