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Levi Strauss net revenues up 22 per cent

For Q1 Levi Strauss’ net revenues increased 22 per cent on a reported basis and 16 per cent in favorable currency translation effects, driven by broad-based Levi’s brand growth in all regions and channels.

In Europe, net revenues grew 30 per cent, with the strongest growth in women’s and tops. In Asia, net revenues increased five per cent, thanks in part to an expanded direct-to-consumer business. The company had a particularly strong holiday season in the US. Net revenues increased 13 per cent in the Americas. The increase was seen across wholesale and direct-to-consumer channels in all markets.

On a reported basis, direct-to-consumer revenues grew 24 per cent on performance and expansion of the retail network as well as e-commerce growth. Wholesale reported revenues increased 21 per cent, driven by higher revenues from Europe and the Americas.

On a reported basis, gross margin was 54.9 per cent of revenues compared with 51.2 per cent in the same quarter of fiscal 2017. The margin benefit stems from revenue growth in the direct-to-consumer channel and international business, lower product sourcing costs and a favorable transactional impact of currency. The momentum and growth trends seen in the last half of the year not only continued but also accelerated in the first quarter. The incremental investments made in marketing, direct-to-consumer expansion and a more diversified portfolio are paying off.

 

 
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