LEVI STRAUSS news and archive

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...

BusinessFeatured

Levi Strauss Q2 revenues drop, lowers outlook

Second quarter net revenues at Levi Strauss & Co. of 1.3 billion dollars decreased 9 percent on a reported and constant-currency basis. The company said in a release that the planned shift in wholesale shipments from Q2 to Q1 negatively impacted the quarter performance by approximately 100 million dollars or 7 percent of net revenues. Net loss...

Business

Levi’s Brand gets new SVP, chief marketing officer

Levi Strauss & Co. has announced the appointment of Kenny Mitchell as the senior vice president, chief marketing officer of the Levi’s Brand, effective June 5. Mitchell will report to the group’s president Michelle Gass, while overseeing the brand’s consumer marketing strategies that centre around building on denim leadership equity and growing...

FashionPress Release

Everything you need to know about: Levi’s

Levi’s is an established brand famous for its rise from American workwear to general apparel with denim as their main focus. Their most well-known product is the 501® jeans, a straight leg, button fly jeans; symbol for freedom and pioneering. Origins In 1853, immigrant Levi Strauss had just opened a dry goods store in San Francisco and noticed...

BusinessFeatured

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,...

BusinessPress Release

Fashion for Good sorting for circularity advances into the US market

Today, Fashion for Good launches the Sorting for Circularity USA Project, a new initiative focused on the North-American textile-to-textile recycling market that will provide the most representative snapshot of textile waste composition generated in the United States. This effort is crucial to understanding and evaluating the business case for...

BusinessFeatured

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...

Business

Levi Strauss names new senior vice president and chief digital officer

Levi Strauss & Co. has announced the appointment of Jason Gowans as senior vice president and chief digital officer for LS&Co., effective February 6. In the new role, Gowans has been tasked with bringing together the company’s engineering, data, artificial intelligence (AI) and digital product management to drive efforts in both e-commerce and...

PeopleFeatured

Levi Strauss taps Kohl’s chief Michelle Gass as new CEO

US denim giant Levi Strauss & Co has announced that Kohl’s chief Michelle Gass will succeed Chip Bergh as the company’s new CEO within the next 18 months. As of January 2, Gass will also become Levi Strauss’ new president, and is expected to join the company’s board on the same date. She will be responsible for leading the Levi’s brand and the...

BusinessFeatured

Levi Strauss lowers full-year guidance

Levi Strauss has lowered its full-year profit and revenue outlook against a backdrop of a stronger dollar and ongoing supply chain disruptions. Net revenue for the third quarter ended August 28 came in at 1.5 billion dollars, a 1 percent increase from a year earlier, or a 7 percent increase on a constant-currency basis. The increase was driven...

Retail

Beyond Yoga opens first store following acquisition by Levi Strauss

One year after its acquisition by Levi Strauss, athletic apparel brand Beyond Yoga has taken its first foray into physical retail. The LA-based brand opened its debut store in Santa Monica on Wednesday at 1409 3rd Street Promenade. The 4,000 square foot store carries the brand’s entire category range including active, lifestyle, maternity,...

BusinessFeatured

Levi Strauss posts revenue growth, reaffirms outlook

Levi Strauss & Co. second quarter net revenues were 1.5 billion dollars, an increase of 15 percent on a reported basis, and 20 percent on a constant-currency basis excluding 47 million dollars in unfavourable currency impacts. Net income decreased to 50 million dollars due to the decrease in operating income, while adjusted net income rose to...