Levi Strauss & Co 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...

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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...

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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...

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Levi Strauss hires new human resources chief, offers paid leave benefits

Levi's is making changes in its human resources department. The American denim brand named Tracy Layney as its new senior vice president and chief human resources officer, effective April 20, 2020. Layney joins the company from Shutterfly, where she served as senior vice president and CHRO, responsible for recruiting, employee engagement, talent...

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Levi's teams up with Cooperative Porto Alegre for recycled denim collection

Levi's has launched a handmade denim accessories collection in partnership with Cooperative Porto Alegre, a non-profit organization that provides job training for vulnerable people, including the homeless, refugees and asylum seekers. The Levi’s x Coop Porto Alegre capsule collection, which will be available to purchase in selected Levi’s stores...

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Levi Strauss: Q3 revenues rise 4 percent, profit declines

For its third quarter, Levi Strauss & Co. said net revenues grew 4 percent on a reported basis, and 5 percent on a constant-currency basis excluding 19 million dollars in unfavourable currency effects to 1.40 billion dollars. Adjusted net income decreased 5 million dollars compared to the prior year, due to 11 million dollars more in tax...

Fashion

Levi Strauss & Co. pledges grants to future apparel leaders

Levi's announced over 380 thousand dollars in grants to the second class of LS&Co. Collaboratory fellows, with the goal of creating a more sustainable apparel industry. The brand started its fellowship program, LS&Co. Collaboratory, to focus on a different sustainability challenge facing the apparel industry with each class. Its second class of...