Welcome to our dedicated page for Levi Strauss & news (Ticker: LEVI), a resource for investors and traders seeking the latest updates and insights on Levi Strauss & stock.
Levi Strauss & Co. reports news around its global apparel business, which designs and markets jeans, casual wear and related accessories under the Levi's®, Levi Strauss Signature™ and Beyond Yoga® brands. Company updates commonly cover quarterly results, direct-to-consumer growth, regional and channel performance, product-category trends and guidance tied to its denim lifestyle strategy.
Recurring announcements also include capital returns through dividends and share repurchase programs, investor conference participation, leadership and board transitions, and portfolio actions such as the completed sale of the Dockers® brand. The company sells through chain retailers, department stores, online sites and its retail stores and shop-in-shops in markets worldwide.
Levi Strauss & Co. (NYSE: LEVI) announced that CFO Harmit Singh will join a virtual fireside chat at the Morgan Stanley Life After Covid Thematic Conference on November 10, 2020, at 12:00 p.m. ET. This event aims to discuss the company's strategy in adapting to a changing environment post-COVID. Investors and interested parties can access the live webcast via the provided link, with a replay available later on Levi's investor relations website. Levi Strauss is a major global apparel brand, generating $5.8 billion in revenue in 2019.
Levi Strauss & Co. (NYSE: LEVI) announced significant leadership changes effective November 30, 2020, to strengthen its strategic growth agenda. CEO Chip Bergh emphasized the company's focus on enhancing the Levi's® brand, boosting direct-to-consumer (DTC) sales, and advancing digital transformation. Key appointments include Jen Sey as brand president, Liz O'Neill as COO, Seth Ellison as CCO, and Marc Rosen leading a new Digital Enterprise Office. These changes aim to leverage opportunities from shifts in consumer behavior accelerated by the global pandemic.
Levi Strauss & Co. (NYSE: LEVI) reported a 27% decline in net revenues for Q3 2020, primarily driven by the COVID-19 pandemic. Despite this, the company achieved an adjusted EBIT of $84 million and returned to positive free cash flow of $183 million. E-commerce revenue grew by 52%, accounting for 24% of total revenues, doubling from a year ago. Gross margin improved to 54.3%, while SG&A expenses declined 19%. The company maintains a strong liquidity position of $2 billion, enhancing its financial resilience during ongoing market challenges.