Levi Strauss & Co 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...

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...

Fashion Featured

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...

BusinessFeatured

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...

Fashion |INTERVIEW Featured

A closer look into Levi's new global water strategy plan

With the environment an ever-pressing concern in and out of the fashion industry, brands such as Levi Strauss are continually working to reduce the amount of waste created during the production process. The denim company recently announced its new water strategy, which will take a localized approach to its water conservation, dependent on the...

BusinessFeatured

Levi's and Kontoor Brands react to reports of sexual abuse in garment factories

Levi Strauss & Co., Kontoor Brands - which owns Wrangler and Lee jeans - and The Children’s Place have all pledged to crack down on gender-based abuse in Lesotho garment factories after an investigation found women were being coerced into having sex in order to keep their jobs. The major fashion brands will be taking part in a pilot programme...

Business

Levi Strauss & Co. quarterly profits take hit from IPO costs

Levi Strauss & Co. missed analysts' earnings expectations in the second quarter of the fiscal year, reporting on Tuesday a 5 percent increase in sales for the second quarter of the year, but a 63 percent drop in net income to 49 million dollars (about 39 million pounds). The American denim specialist said the fall in income was primarily due to...

Fashion |INTERVIEW Featured

Levi Strauss Foundation exec director on importance of backing social change

American fashion company Levi Strauss & Co., best known as a pioneering figure in the denim industry for the past 166 years, has also made a name for itself since its founding as a business with social responsibility and corporate philanthropy at its core. The Levi Strauss Foundation is a perfect example of that. Founded in 1952, the foundation...

BusinessFeatured

Levi Strauss swings to profit in Q1, revenues up 7 percent

Levi Strauss & Co. in its statement for the first quarter ended February 24, 2019 said net revenues grew 7 percent on a reported basis and 11 percent on a constant-currency basis, excluding 48 million dollars in unfavourable currency translation effects. The company added that diluted earnings per common share were 37 cents compared with a 5...

Business

Levi Strauss & Co announces launch of IPO

It’s official: Levi Strauss & Co will be returning to Wall Street after a hiatus of 35 years. The company announced today that it has commenced an initial public offering (IPO) of 36,666,667 shares of its Class A common stock. The price is currently expected to be between 14 US dollars and 16 US dollars per share. Levi Strauss & Co is offering...