Welcome to our dedicated page for Levi Strauss & Co. news (Ticker: LEVI), a resource for investors and traders seeking the latest updates and insights on Levi Strauss & Co. stock.
Levi Strauss & Co. (LEVI), the global leader in premium denim and casual apparel, maintains this dedicated news hub for investors and industry followers. Access official press releases and curated updates covering financial results, product innovations, sustainability initiatives, and strategic partnerships.
This resource provides timely insights into Levi's operational developments across its core brands including Levi's, Dockers, and Denizen. Key updates span earnings announcements, leadership changes, retail expansions, and material events impacting the company's position in the competitive apparel sector.
All content is sourced from verified corporate communications, ensuring reliability for investment research and market analysis. The collection serves as both historical record and current awareness tool for tracking this iconic brand's evolution in global fashion markets.
Bookmark this page for streamlined access to LEVI's latest business developments. Combine regular monitoring with SEC filings and earnings transcripts for comprehensive understanding of company performance.
Levi Strauss & Co. has appointed Kenny Mitchell as the new senior vice president and chief marketing officer, effective June 5. Reporting to Michelle Gass, he will focus on enhancing marketing strategies to strengthen consumer engagement and grow market share for the Levi’s® brand. Mitchell brings over 20 years of extensive branding and digital marketing experience from notable companies including Snap and McDonald's. This appointment coincides with significant anniversaries for the brand, including the 150th anniversary of the 501® jean and the company's 170th year of operation. Gass expressed confidence that Mitchell's leadership will promote long-term growth and cultural relevance for the Levi's brand.
Levi Strauss & Co. (NYSE: LEVI) reported a strong Q1 2023, with net revenues of $1.7 billion, marking a 6% increase and 9% growth in constant currency compared to Q1 2022. The growth was fueled by a 12% rise in direct-to-consumer (DTC) sales, which constituted 42% of total revenues. The company reaffirmed its FY 2023 guidance, projecting net revenues between $6.3 billion and $6.4 billion.
Despite the strong revenue growth, net income dropped to $115 million, a 41% decrease year-over-year. Diluted EPS also declined to $0.29, down 17% from the prior year. The gross margin fell to 55.8%, down 360 basis points from Q1 2022, primarily due to increased costs and currency impacts.
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