LEVI STRAUSS news and archive

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...

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,...

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...

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...

Business

Levi’s calls protecting reproductive rights a “business imperative”

In the wake of a leaked draft majority opinion from the US Supreme Court made public by Politico on Monday that appears set to overturn the landmark 1973 Roe v. Wade decision, which has guaranteed federal protections of abortion rights, Levi Strauss & Co. became one of the first companies to take a public stance on the matter. If the decision by...

BusinessFeatured

Levi Strauss Q1 revenue ahead of estimates

Levi Strauss has reported robust revenue growth in the first quarter of the year as demand for its denim products remained strong globally. In the quarter ended February 27, the US fashion giant made net revenue of 1.6 billion dollars, up 22 percent compared to a year earlier - or up 26 percent on a constant-currency basis. That was higher than...