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) has announced its upcoming fourth quarter and fiscal year 2024 earnings conference call, scheduled for Wednesday, January 29, 2025, at 2 p.m. Pacific Time / 5 p.m. Eastern Time. The call will be led by Michelle Gass, president and chief executive officer, and Harmit Singh, chief financial and growth officer.
Interested participants can pre-register for the conference call through a provided link to receive dial-in details. A live webcast will be available, and a replay will be accessible on the company's investor relations website approximately two hours after the event, remaining archived for one quarter.
Levi Strauss & Co has appointed Dario Aguilar as Managing Director for Latin America, effective December 2. Reporting to EVP and Chief Commercial Officer Gianluca Flore, Aguilar will oversee regional commercial operations and drive sustainable growth. Aguilar brings over 25 years of commercial experience, most recently serving as CEO of Sephora Mexico, where he tripled top and bottom-line growth. Previously, he led C&A Mexico as CEO and held leadership roles at Adidas and Nike across Latin America and Europe. His appointment aims to strengthen Levi's position as a brand-led, DTC-first apparel leader in the region.
Levi Strauss & Co. (NYSE: LEVI) has appointed Daniel Geballe to its board of directors, effective April 26, 2025. Geballe, currently a managing director at SJF Ventures, will replace David Friedman, who is set to retire upon reaching the mandatory retirement age. CEO Michelle Gass praised Geballe's extensive experience and commitment to social and environmental responsibility, highlighting his potential contribution to the company's long-term growth strategy. Geballe's background includes roles at The for Enterprise Development and Fisher Investments, as well as serving on the Levi Strauss Foundation board. He expressed enthusiasm about joining LS&Co.'s board and contributing to its next chapter of sustained, profitable growth.
Levi Strauss & Co. (NYSE: LEVI) reported flat net revenues of $1.5 billion for Q3 2024, up 2% on a constant-currency basis. The Levi's® brand grew 5% globally, its highest growth in two years. Gross margin increased 440 basis points to 60.0%, while adjusted diluted EPS rose 18% to $0.33.
Key highlights include:
- DTC net revenues up 10%, with e-commerce growing 16%
- Europe net revenues increased 6%
- Asia net revenues up 4% on a constant-currency basis
- Operating margin at 2.0%, adjusted EBIT margin up 250 basis points to 11.6%
The company updated its FY2024 guidance, expecting 1-2% revenue growth and reaffirming adjusted diluted EPS guidance of $1.17 to $1.27. Levi's also announced a strategic review of the Dockers® brand, potentially including a sale.
Levi Strauss & Co. (NYSE: LEVI) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Wednesday, October 2, 2024, at 2 p.m. Pacific Time / 5 p.m. Eastern Time. The call will be hosted by Michelle Gass, president and CEO, and Harmit Singh, CFO and growth officer. Investors and analysts can pre-register for the call to receive dial-in details. A live webcast will also be available, with a replay accessible on the company's investor relations website for one quarter following the event. The financial results for the quarter ended August 25, 2024, will be discussed during the call, with the related press release to be published on the same day.
Levi Strauss reported its Q2 2024 financial results, showing a revenue growth of 8% to $1.4 billion, and a record gross margin of 60.5%, an increase of 180 basis points from the previous year.
Global DTC revenue rose by 8%, including a 12% growth in the U.S. Diluted EPS was $0.04, while adjusted diluted EPS was $0.16, exceeding expectations.
The company reaffirmed its full-year guidance with a 1-3% revenue growth and adjusted diluted EPS of $1.17-$1.27.
Net income for the quarter was $18 million, a significant improvement from a $2 million loss in Q2 2023. Operating margin increased to 1.5% from 0.7% in the prior year, driven by higher net revenue and gross margin.
Levi's also raised its quarterly dividend to $0.13 per share, payable on August 20, 2024.
Levi Strauss & Co. (NYSE: LEVI) will host a conference call to discuss its financial results for the second quarter of 2024, which ended on May 26, 2024.
The call is scheduled for Wednesday, June 26, 2024, at 2 p.m. Pacific Time / 5 p.m. Eastern Time. It will be led by Michelle Gass, president and CEO, and Harmit Singh, chief financial and growth officer.
Participants need to pre-register for the conference call to receive dial-in details via email. A live webcast of the event will be available, and a replay will be accessible on the company's investor relations website approximately two hours after the event, remaining available for one quarter.
Lulus announced an extended partnership with Levi Strauss & Co. to offer a selection of classic styles for women. The Lulus Loves: Levi’s® capsule includes trucker jackets, jeans, cutoff shorts, and more, available online and in-store. This collaboration aims to enhance the shopping experience for Lulus customers by providing quality, versatile, and attainable denim options.
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