Levi Strauss news and archive

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...

Featured

Business

2021 Round up: The most notable acquisitions this year

Anyone who takes a quick look at the news over the past year will have noticed one business trend: takeovers, takeovers and takeovers. Various fashion groups seem to be actively in the acquisition game, while other companies were presented with an opportunity that they could not turn down. To sum it all up: these were the most notable...

Featured

Fashion

Denim innovations: How brands are cleaning up the industry

The denim industry, as a part of the wider textile industry, which is one of the most polluting industries in the world, has come a long way since Levi Strauss developed its first pair of blue jeans for gold miners in the San Francisco area in 1873. Note that the first Levi’s blue jeans were reserved for men. Women had to wait until the next...

People

Levi Strauss chair retires, successor announced

Levi Strauss has announced a reshuffle of its board of directors. Stephen C. Neal, who is currently the US fashion company’s board chair, will be stepping down from the position on March 26, after reaching the mandatory board retirement age of 72. He will be succeeded by Robert A. Eckert, who was “unanimously” appointed by the board. Neal said...

Business

Levi Strauss swings to full-year loss, sales improve in Q4

Levi Strauss swung to a loss last year as store closures hit revenue, but the US denim company saw a “significant sequential improvement” in Q3 sales. For the year to 29 November, the business reported a net loss of 127 million dollars, compared to net income of 395 million dollars a year earlier. The company saw a 23 percent drop in full-year...

Fashion

Levi Strauss ventures into home goods with Target

Levi’s is creating a limited-edition home collection of thoughtfully-designed, durable pieces to inspire a more sustainable home environment. The line is created in partnership with Target, and will retail exclusively through the company upon its launch on February 28. The two companies worked together to create the collection of items across...

People

Levi Strauss & Co. names Elliott Rodgers as new board member

Levi Strauss & Co has announced the appointment of Elliott Rodgers to its board of directors, effective immediately. Rogers is currently chief information officer at Ulta Beauty, a role he’s been in since September after having held several supply chain roles since joining the company in November 2013. Prior to joining Ulta Beauty, Rodgers was...

People

Levi Strauss announces leadership changes amid digital drive

Levi Strauss & Co has announced a number of changes to its leadership team as it looks to accelerate its digital transformation. The US heritage brand has promoted its chief marketing officer Jen Sey to brand president. “The Levi’s brand organization will bring together marketing, design, merchandising and brand experience to drive a center-led...

Featured

Business

Levi Strauss reports better-than-expected sales boosted by e-commerce

Levi Strauss & Co reported better-than-expected sales for the third-quarter on Tuesday, with online revenue soaring 52 percent during the period. Net revenue at the company fell 27 percent on a reported basis to 1.06 billion dollars, largely due to Covid-19-related store closures, while net income fell 78 percent to 27 million dollars. But those...

Featured

Business

Levi's Q2 sales drop 62 percent, to cut 15 percent of workforce

Levi Strauss & Co., for its second quarter reported net revenues decline of 62 percent on a reported basis to 498 million dollars; due to the temporary closure of company-operated, franchise and wholesale customer retail locations as a result of the Covid-19 pandemic, partially offset by the company’s e-commerce business which grew 25 percent...

Featured

Business

Levi Strauss posts sales and profit growth

Levi Strauss & Co., for its first quarter ended February 23, 2020 reported net revenue growth of 5 percent on a reported basis, and 6 percent on a constant-currency basis excluding 11 million in unfavourable currency effects to 1,506 million dollars. The company said in a statement that net revenues growth was partially offset by an estimated 20...

Featured

Business

Levi Strauss sales and profit dip in Q4

Levi Strauss & Co., for its fourth quarter reported net revenues decline of 2 percent on a reported basis, and flat on a constant-currency basis excluding 16 million dollars in unfavourable currency effects to 1,569 million dollars. Gross profit of 851 million dollars rose 1 percent on a reported basis, while gross margin of 54.3 percent of net...