Levi Strauss & Co news and archive

Levi Strauss Q2 revenues increase, maintains full year outlook

Second quarter revenues at Levi Strauss of 1.4 billion dollars were 8 percent higher on a reported basis and 9 percent higher on a constant-currency basis. However, adjusting for the shift in wholesale shipments and the exit of the Denizen business, the company's revenue would have been up 1 percent or 2 percent in constant currency. Net income...

ManagementFeatured

Q1 of 2024 marked by series of job cuts

The first quarter of the year has outlined the tough reality of the current market, with last year’s challenging financial period leaving many companies with no option but to initiate strategic reviews. And, as part of this process, inevitably the question of jobs comes into play, with roles, departments and geographies coming under the...

Business

Levi's is cutting 42 jobs at its European headquarters

Levi Strauss is cutting jobs at its European headquarters in Machelen, Belgium, its European management reportedly announced according to Belgian newspaper Nieuwsblad. The news comes after the US fashion brand revealed it was cutting 10 to 15 percent of its jobs worldwide earlier in January. The European headquarters will thus say goodbye to 42...

PeopleFeatured

Michelle Gass assumes CEO role at Levi’s, expands leadership team

Levi Strauss & Co. announced that Michelle Gass has assumed the role of president and CEO, as previously disclosed in December. Gass follows Chip Bergh, who served as the company’s president and CEO for over 12 years. Michelle Gass takes over as CEO of Levi’s "LS&Co. is a destination for the very best talent because of its history, its products...

ManagementFeatured

Levi Strauss to cut global workforce by 10 to 15 percent in 2024

As part of its first phase of the global productivity initiative, Levi Strauss plans 10 to 15 percent reduction of the global corporate workforce. As a result, the company expects to record estimated restructuring charges of 110 to 120 million dollars in the first quarter. Fourth quarter revenues at Levi Strauss of 1.6 billion dollars increased...

People

David Marberger joins Levi Strauss & Co. board

Levi Strauss & Co. has appointed David Marberger as a member of the board and to serve on the board’s audit committee, effective immediately. With more than 30 years of finance and leadership experience, Marberger currently serves as the executive vice president and chief financial officer for Conagra Brands, Inc. “With a distinguished career...

ManagementFeatured

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...

ManagementFeatured

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,...

ManagementFeatured

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...

Report

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...

ManagementFeatured

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...

ManagementFeatured

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,...