Levi Strauss & Co news and archive

Levi's is cutting 42 jobs at its European headquarters

Levi Strauss is cutting jobs at its European headquarters in Machelen, Belgium, its European management reportedly announced according to Belgian newspaper Nieuwsblad. The news comes after the US fashion brand revealed it was cutting 10 to 15 percent of its jobs worldwide earlier in January. The European headquarters will thus say goodbye to 42...

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Michelle Gass assumes CEO role at Levi’s, expands leadership team

Levi Strauss & Co. announced that Michelle Gass has assumed the role of president and CEO, as previously disclosed in December. Gass follows Chip Bergh, who served as the company’s president and CEO for over 12 years. Michelle Gass takes over as CEO of Levi’s "LS&Co. is a destination for the very best talent because of its history, its products...

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Levi Strauss to cut global workforce by 10 to 15 percent in 2024

As part of its first phase of the global productivity initiative, Levi Strauss plans 10 to 15 percent reduction of the global corporate workforce. As a result, the company expects to record estimated restructuring charges of 110 to 120 million dollars in the first quarter. Fourth quarter revenues at Levi Strauss of 1.6 billion dollars increased...

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David Marberger joins Levi Strauss & Co. board

Levi Strauss & Co. has appointed David Marberger as a member of the board and to serve on the board’s audit committee, effective immediately. With more than 30 years of finance and leadership experience, Marberger currently serves as the executive vice president and chief financial officer for Conagra Brands, Inc. “With a distinguished career...

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Levi Strauss reports drop in Q3 sales and earnings

Levi Strauss & Co. reported third quarter net revenues of 1.5 billion dollars, a marginal drop from the prior year on a reported basis and a 2 percent drop on a constant-currency basis. Net income for the quarter decreased to 10 million dollars, adjusted net income dropped to 112 million dollars and diluted earnings per share were 2 cents...

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Levi Strauss posts Q1 sales growth of 6 percent

First quarter net revenues of 1.7 billion dollars at Levi Strauss & Co. increased 6 percent on a reported basis and 9 percent on a constant-currency basis excluding 40 million dollars in unfavourable currency impacts. The company has reaffirmed its expectations for fiscal 2023 of net revenues between 6.3 billion dollars and 6.4 billion dollars,...

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Levi Strauss beats Q4 estimates despite drop in revenue, profit

Levi Strauss was upbeat on its 2023 outlook Thursday as its fourth quarter results beat analysts’ estimates. The US denim giant reported 6 percent drop in revenue in the quarter ended November 27 as growth in its direct-to-consumer (DTC) channel was offset by a drop in wholesale. Fourth-quarter revenue at the US denim giant was flat on a...

People

Levi Strauss & Co appoints new MD of South Asia-Middle East and Africa

Levi Strauss & Co has tapped Amisha Jain to lead its South Asia-Middle East and Africa (SAMEA) markets. As senior vice president and managing director of SAMEA, Jain is tasked with leading the US denim giant’s operations in those markets, and “ensuring that the geography continues to drive expansion and growth”. Jain has over 20 years of...

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Levi Strauss beats Q4 revenue estimates, expects strong 2022

Levi Strauss has beaten analysts’ fourth-quarter revenue estimates thanks to strong global demand for denim. The US giant reported net revenue of 1.7 billion dollars in the quarter ended November 28, representing growth of 22 percent compared to the same quarter a year ago, and 7 percent compared to two years ago, prior to the pandemic. Analysts...

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Levi Strauss enters activewear segment with acquisition of Beyond Yoga

Levi Strauss & Co has announced it is to buy US-based premium athletic and lifestyle apparel brand Beyond Yoga for an undisclosed sum as it steps into the high-growth activewear segment. The US denim giant said the move will help diversify its business and will “provide substantial net revenue opportunity over time through channel, geographic,...

Fashion

New Levi's donation empowers Guatemalan artisans

Levi Strauss & Co. has partnered with Mercado Global to empower Indigenous female artisans in Guatemala, while simultaneously providing free protective face masks to groups in need throughout the U.S. and Latin America. Mercado Global is an ethical fashion nonprofit that connects Indigenous women in rural Guatemala to the international fashion...

Fashion

Levi Strauss offers paid sick to all U.S. part-time employees

Levi Strauss & Co. is continuing to make adjustments to its policies as it adapts to results of the COVID-19 pandemic on the retail landscape. The company announced via a blog post that it will now offer paid sick leave to all part-time employees in the U.S. Under this new policy, Levi's U.S. store employees will now experience a level of...