Levi Strauss announced its full year revenue grew 8 per cent to touch $4.9 billion. Chip Bergh, President and CEO said in a statement “Our growth and momentum accelerated in Q4 capping the strongest revenue year the company has had in more than a decade. Our strategies are working and the investments that we’ve made to diversify our business over the past few years are paying off, best demonstrated by the strength of the Levi’s brand globally."
For the fiscal year November 26, 2017, net revenues grew the most in Europe touching $1.3 billion, up 19 per cent compared to the same period last year. In Asia, net revenues grew by 5 per cent to $818 million, primarily reflecting direct-to-consumer expansion and performance, while in the Americas, the group's leading market, revenues grew 3 per cent to touch $2.8 billion.
Net revenue growth shows both strong results among direct-to-consumer sales and wholesale, however, due to unfavourable exchange rate adjustments and debt refinancing activities this year, Levi Strauss's full-year net income was down by 3 per cent. In its Q4, net revenues grew 13 per cent on a reported basis. Similarly full year results, net revenues grew the most in the European market rising 21 per cent to $374 million. In Asia, net revenues grew by 13 per cent to $237 million and in the Americas by 7 per cent to $855. The company had 53 additional company-operated stores at the end of fiscal 2017 than in a year earlier period.