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Earnings · Financial
Net Revenues of $1.5 billion were up 7% on a reported and organic basis versus Q3 2024.
SEC filingas of
Earnings · Financial
full year earnings: “Financial Highlights for the Full Year • Reported net revenues of $6.4 billion were up 3% to FY 2023, and up 3% on an organic basis • Gross margin was 60.0%; 310 basis points above FY 2023 • Operating margin was 4.2%; Adjusted EBIT margin was 10.2% , compared to 9.0% in FY 2023 • Net income was $211 million; Adjusted net income was $503 million , up from $441 million in FY 2023 • Diluted EPS was $0.52; Adjusted diluted EPS was $1.25 , up from $1.10 in FY 2023 • Record Adjusted Free Cash Flow generation of $671 million • The Company returned $289 million in capital to shareholders, up 45% to prior year Highlights include: Three Months Ended Increase (Decrease) As Reported Increase (Decrease) Organic Net Revenues Year Ended Increase (Decrease) As Reported Increase (Decrease) Organic Net Revenues ($ millions) December 1, 2024 November 26, 2023 December 1, 2024 November 26, 2023 Net revenues $ 1,840 $ 1,642 12% 8% $ 6,355 $ 6,179 3% 3% Three Months Ended Increase (Decrease) As Reported Increase (Decrease) Constant Currency Year Ended Increase (Decrease) As Reported Increase (Decrease) Constant Currency ($ millions, except per-share amounts) December 1, 2024 November 26, 2023 December 1, 2024 November 26, 2023 Net income $ 183 $ 127 44% * $ 211 $ 250 (16)% * Adjusted net income $ 202 $ 179 13% 14% $ 503 $ 441 14% 15% Adjusted EBIT $ 247 $ 200 23% 25% $ 650 $ 555 17% 20% Diluted earnings per share $ 0.46 $ 0.32 14¢ * $ 0.52 $ 0.62 (10)¢ * Adjusted diluted earnings per share $ 0.50 $ 0.44 6¢ 6¢ $ 1.25 $ 1.10 15¢ 17¢ ___________ * Not provided Additional information regarding Adjusted SG&A, Adjusted EBIT, Adjusted EBIT margin, Adjusted net income, Adjusted diluted earnings per share, Adjusted free cash flow as well as amounts presented on an organic net revenues basis and constant currency basis, all of which are non-GAAP financial measures, is provided at the end of this press release.” Previous: “Financial Highlights for the Full Year • Reported net revenues of $6.4 billion were up 3% to FY 2023, and up 3% on an organic basis • Gross margin was 60.0%; 310 basis points above FY 2023 • Operating margin was 4.2%; Adjusted EBIT margin was 10.2% , compared to 9.0% in FY 2023 • Net income was $211 million; Adjusted net income was $503 million , up from $441 million in FY 2023 • Diluted EPS was $0.52; Adjusted diluted EPS was $1.25 , up from $1.10 in FY 2023 • Record Adjusted Free Cash Flow generation of $671 million • The Company returned $289 million in capital to shareholders, up 45% to prior year Highlights include: Three Months Ended Increase (Decrease) As Reported Increase (Decrease) Organic Net Revenues Year Ended Increase (Decrease) As Reported Increase (Decrease) Organic Net Revenues ($ millions) December 1, 2024 November 26, 2023 December 1, 2024 November 26, 2023 Net revenues $ 1,840 $ 1,642 12% 8% $ 6,355 $ 6,179 3% 3% Three Months Ended Increase (Decrease) As Reported Increase (Decrease) Constant Currency Year Ended Increase (Decrease) As Reported Increase (Decrease) Constant Currency ($ millions, except per-share amounts) December 1, 2024 November 26, 2023 December 1, 2024 November 26, 2023 Net income $ 183 $ 127 44% * $ 211 $ 250 (16)% * Adjusted net income $ 202 $ 179 13% 14% $ 503 $ 441 14% 15% Adjusted EBIT $ 247 $ 200 23% 25% $ 650 $ 555 17% 20% Diluted earnings per share $ 0.46 $ 0.32 14¢ * $ 0.52 $ 0.62 (10)¢ * Adjusted diluted earnings per share $ 0.50 $ 0.44 6¢ 6¢ $ 1.25 $ 1.10 15¢ 17¢ ___________ * Not provided Additional information regarding Adjusted SG&A, Adjusted EBIT, Adjusted EBIT margin, Adjusted net income, Adjusted diluted earnings per share, Adjusted free cash flow as well as amounts presented on an organic net revenues basis and constant currency basis, all of which are non-GAAP financial measures, is provided at the end of this press release.”
SEC filingas of
Earnings · Financial
Levi Strauss & Co reported quarterly results
full year earnings: “Last year, he served as the key architect behind the five-year growth plan laid out at our Investor Day, and his expanded role will enable more direct control to execute against our strategic initiatives." Financial Highlights for the Fourth-Quarter • Reported net revenues of $1.6 billion contracted 6% compared to Q4 2021, but was flat on a constant-currency basis as strong growth in the direct-to-consumer channel offset a decline in wholesale • Gross margin was 55.8%; Adjusted gross margin was 55.8% , 230 basis points below Q4 2021 inclusive of approximately 100 basis points of adverse currency impacts, however 150 basis points above Q4 2019's pre-pandemic level • Operating margin was 8.6% ; Adjusted EBIT margin was 9.0% , compared to 12.0% in Q4 2021 • Net income was $151 million; Adjusted net income was $137 million , versus $170 million in Q4 2021 • Diluted EPS was $0.38; Adjusted diluted EPS was $0.34 , despite a 4 cent adverse currency impact, compared to $0.41 in Q4 2021 • The Company paid a dividend of $0.12 per share, up 47% from prior year; $82 million in capital returned to shareholders Financial Highlights for the Full Year • Reported net revenues of $6.2 billion grew 7% versus FY 2021 and 12% on a constant-currency basis • Gross margin was 57.5%; Adjusted gross margin was 57.6% , 30 basis points below FY 2021 inclusive of approximately 50 basis points of adverse currency impacts, up 380 basis points versus FY 2019 • Operating margin was 10.5%; Adjusted EBIT margin was 11.6% , compared to 12.4% in FY 2021 and 10.6% for FY 2019 • Net income was $569 million; Adjusted net income was $604 million , up from $601 million in FY 2021 • Diluted EPS was $1.41; Adjusted diluted EPS was $1.50 , despite a 12 cent adverse currency impact, and up from $1.47 in FY 2021 • The Company returned $350 million in capital to shareholders, an 84% year-over-year increase , while continuing to reinvest to drive profitable, long-term growth "We achieved strong results in 2022 by focusing on execution and the controllables of the business," said Harmit Singh, chief financial and growth officer of Levi Strauss & Co.” Previous: “Last year, he served as the key architect behind the five-year growth plan laid out at our Investor Day, and his expanded role will enable more direct control to execute against our strategic initiatives." Financial Highlights for the Fourth-Quarter • Reported net revenues of $1.6 billion contracted 6% compared to Q4 2021, but was flat on a constant-currency basis as strong growth in the direct-to-consumer channel offset a decline in wholesale • Gross margin was 55.8%; Adjusted gross margin was 55.8% , 230 basis points below Q4 2021 inclusive of approximately 100 basis points of adverse currency impacts, however 150 basis points above Q4 2019's pre-pandemic level • Operating margin was 8.6% ; Adjusted EBIT margin was 9.0% , compared to 12.0% in Q4 2021 • Net income was $151 million; Adjusted net income was $137 million , versus $170 million in Q4 2021 • Diluted EPS was $0.38; Adjusted diluted EPS was $0.34 , despite a 4 cent adverse currency impact, compared to $0.41 in Q4 2021 • The Company paid a dividend of $0.12 per share, up 47% from prior year; $82 million in capital returned to shareholders Financial Highlights for the Full Year • Reported net revenues of $6.2 billion grew 7% versus FY 2021 and 12% on a constant-currency basis • Gross margin was 57.5%; Adjusted gross margin was 57.6% , 30 basis points below FY 2021 inclusive of approximately 50 basis points of adverse currency impacts, up 380 basis points versus FY 2019 • Operating margin was 10.5%; Adjusted EBIT margin was 11.6% , compared to 12.4% in FY 2021 and 10.6% for FY 2019 • Net income was $569 million; Adjusted net income was $604 million , up from $601 million in FY 2021 • Diluted EPS was $1.41; Adjusted diluted EPS was $1.50 , despite a 12 cent adverse currency impact, and up from $1.47 in FY 2021 • The Company returned $350 million in capital to shareholders, an 84% year-over-year increase , while continuing to reinvest to drive profitable, long-term growth "We achieved strong results in 2022 by focusing on execution and the controllables of the business," said Harmit Singh, chief financial and growth officer of Levi Strauss & Co.”
SEC filingas of
Earnings · Financial
second quarter earnings: “By continuing to advance our most impactful growth drivers - being brand-led, direct to consumer first and diversifying the portfolio, we are well-positioned to continue to drive growth and create significant value for all our stakeholders." Financial Highlights for the Second-Quarter • Reported net revenues of $1.5 billion up 15%, and up 20% on a constant-currency basis, versus Q2 2021 driven by growth across all business segments ◦ Global Direct-to-Consumer reported net revenues up 16% versus Q2 2021 reflecting a 23% increase in company-operated stores ◦ Global Wholesale reported net revenues up 15% versus Q2 2021 ◦ Net revenues through all digital channels represented approximately 20% of total second quarter net revenues, up 3% on top of 75% growth in the same quarter of the prior year • Gross margin was 58.1%; Adjusted gross margin was 58.2%, flat from Q2 2021 • Operating margin was 5.2% ; Adjusted EBIT margin was a Q2 record 9.9% , up from 9.0% in Q2 2021 • Net income was $50 million; Adjusted net income was $117 million , up from $93 million in Q2 2021 • Russia-Ukraine charges of $60 million ($0.15 per diluted share) related to the crisis, primarily full impairment of store assets, PP&E and goodwill • Diluted EPS was $0.12; Adjusted diluted EPS was $0.29 , up from $0.23 in Q2 2021 "We delivered another solid quarter, growing reported net revenues 15% and adjusted EBIT 27%, while returning $80 million in capital to shareholders," said Harmit Singh, chief financial officer of Levi Strauss & Co .” Previous: “By continuing to advance our most impactful growth drivers - being brand-led, direct to consumer first and diversifying the portfolio, we are well-positioned to continue to drive growth and create significant value for all our stakeholders." Financial Highlights for the Second-Quarter • Reported net revenues of $1.5 billion up 15%, and up 20% on a constant-currency basis, versus Q2 2021 driven by growth across all business segments ◦ Global Direct-to-Consumer reported net revenues up 16% versus Q2 2021 reflecting a 23% increase in company-operated stores ◦ Global Wholesale reported net revenues up 15% versus Q2 2021 ◦ Net revenues through all digital channels represented approximately 20% of total second quarter net revenues, up 3% on top of 75% growth in the same quarter of the prior year • Gross margin was 58.1%; Adjusted gross margin was 58.2%, flat from Q2 2021 • Operating margin was 5.2% ; Adjusted EBIT margin was a Q2 record 9.9% , up from 9.0% in Q2 2021 • Net income was $50 million; Adjusted net income was $117 million , up from $93 million in Q2 2021 • Russia-Ukraine charges of $60 million ($0.15 per diluted share) related to the crisis, primarily full impairment of store assets, PP&E and goodwill • Diluted EPS was $0.12; Adjusted diluted EPS was $0.29 , up from $0.23 in Q2 2021 "We delivered another solid quarter, growing reported net revenues 15% and adjusted EBIT 27%, while returning $80 million in capital to shareholders," said Harmit Singh, chief financial officer of Levi Strauss & Co .”
SEC filingas of
Earnings · Financial
DTC net revenues increased 35%, driven by both company-operated stores and e-commerce.
first quarter earnings: “The strength of our brands and strategy position us to deliver sustainable growth well into the future." Financial Highlights for the First Quarter • Reported net revenues of $1.6 billion up 22%, and 26% on a constant-currency basis, versus Q1 2021 driven by strong growth across all geographical segments ◦ Global Direct-to-Consumer reported net revenues up 35% versus Q1 2021; reflecting a 48% increase in company-operated stores and a 10% increase in e-commerce ◦ Global Wholesale reported net revenues up 15% versus Q1 2021 ◦ Net revenues through all digital channels grew 16% and represented approximately 25% of total first quarter net revenues ◦ Supply chain constraints impacted net revenues by approximately $60 million • Gross margin was 59.3%; Adjusted gross margin was 59.4%, up 170 basis points from Q1 2021 • Operating margin was 14.7% ; Adjusted EBIT margin of 14.9% , up from 13.3% in Q1 2021 • Net income was $196 million; Adjusted net income was $189 million up from $140 million in Q1 2021 • The effective income tax rate was 20.4% compared to 7.9% in Q1 2021 • Diluted EPS was $0.48 ; Adjusted diluted EPS was $0.46 , up from $0.34 in Q1 2021 "We achieved excellent financial results in the first quarter, driving strong double-digit revenue growth and record gross margin enabling us to deliver adjusted EBIT margin of 14.9 percent," said Harmit Singh, chief financial officer of Levi Strauss & Co.” Previous: “The strength of our brands and strategy position us to deliver sustainable growth well into the future." Financial Highlights for the First Quarter • Reported net revenues of $1.6 billion up 22%, and 26% on a constant-currency basis, versus Q1 2021 driven by strong growth across all geographical segments ◦ Global Direct-to-Consumer reported net revenues up 35% versus Q1 2021; reflecting a 48% increase in company-operated stores and a 10% increase in e-commerce ◦ Global Wholesale reported net revenues up 15% versus Q1 2021 ◦ Net revenues through all digital channels grew 16% and represented approximately 25% of total first quarter net revenues ◦ Supply chain constraints impacted net revenues by approximately $60 million • Gross margin was 59.3%; Adjusted gross margin was 59.4%, up 170 basis points from Q1 2021 • Operating margin was 14.7% ; Adjusted EBIT margin of 14.9% , up from 13.3% in Q1 2021 • Net income was $196 million; Adjusted net income was $189 million up from $140 million in Q1 2021 • The effective income tax rate was 20.4% compared to 7.9% in Q1 2021 • Diluted EPS was $0.48 ; Adjusted diluted EPS was $0.46 , up from $0.34 in Q1 2021 "We achieved excellent financial results in the first quarter, driving strong double-digit revenue growth and record gross margin enabling us to deliver adjusted EBIT margin of 14.9 percent," said Harmit Singh, chief financial officer of Levi Strauss & Co.”
SEC filingas of
Earnings · Financial
Levi Strauss & Co reported quarterly results
full year earnings: “As good as this past year has been, I am confident the future will be even better." Financial Highlights for the Fourth-Quarter • Reported net revenues of $1.7 billion up 22% versus Q4 2020 and up 7% versus Q4 2019 ◦ Direct-to-Consumer ("DTC") net revenues up 25% versus Q4 2020 and up 20% versus Q4 2019 ▪ Company-operated store net revenues up 28% versus Q4 2020 and up 14% versus Q4 2019 ▪ DTC e-commerce net revenues up 22% versus Q4 2020 and 69% versus Q4 2019 ◦ Global Wholesale net revenues up 20% versus Q4 2020 and up 1% versus Q4 2019 ◦ The approximate 3% net revenues benefit from Black Friday and the acquisition of Beyond Yoga was offset by the impact of supply chain constraints, which was approximately $50 million • Gross margin was 57.8%; Adjusted gross margin was 58.1%, up 350 basis points from Q4 2020 and 380 basis points from Q4 2019 • Operating margin was 11.1% ; Adjusted EBIT margin expanded to 12.0% , up from 8.2% in Q4 2020 and 9.3% in Q4 2019 • Net income was $153 million; Adjusted net income was $170 million, up from $81 million in Q4 2020 and $108 million in Q4 2019 • Diluted EPS was $0.37; Adjusted diluted EPS was $0.41, up 105% from $0.20 in Q4 2020 and 58% from $0.26 in Q4 2019 Financial Highlights for the Full Year • Reported net revenues of $5.8 billion up 29% versus FY 2020 and flat to FY 2019 • Gross margin was 58.1%; Adjusted gross margin was 57.9% , up 350 basis points from FY 2020 and 410 basis points from FY 2019 • Operating margin was 11.9%; Adjusted EBIT margin expanded to 12.4% , up from 4.1% in FY 2020 and 10.6% in FY 2019 • Net income was $554 million; Adjusted net income was $601 million , up from $84 million in FY 2020 and $456 million in FY 2019 • Diluted EPS was $1.35; Adjusted diluted EPS was $1.47 , up 600% from $0.21 in FY 2020 and 31% from $1.12 in FY 2019 • Adjusted free cash flow was $230 million , up $88 million versus FY 2020 and up $114 million versus FY 2019 • The company repurchased 3.4 million shares for $88.4 million • A total of $104.4 million in dividends were paid during the year "We achieved strong results, including multi-decade record revenues and profitability, delivering an adjusted EBIT margin for the full year of 12.4% despite heightened supply chain challenges and product costs," said Harmit Singh, chief financial officer of Levi Strauss & Co.” Previous: “As good as this past year has been, I am confident the future will be even better." Financial Highlights for the Fourth-Quarter • Reported net revenues of $1.7 billion up 22% versus Q4 2020 and up 7% versus Q4 2019 ◦ Direct-to-Consumer ("DTC") net revenues up 25% versus Q4 2020 and up 20% versus Q4 2019 ▪ Company-operated store net revenues up 28% versus Q4 2020 and up 14% versus Q4 2019 ▪ DTC e-commerce net revenues up 22% versus Q4 2020 and 69% versus Q4 2019 ◦ Global Wholesale net revenues up 20% versus Q4 2020 and up 1% versus Q4 2019 ◦ The approximate 3% net revenues benefit from Black Friday and the acquisition of Beyond Yoga was offset by the impact of supply chain constraints, which was approximately $50 million • Gross margin was 57.8%; Adjusted gross margin was 58.1%, up 350 basis points from Q4 2020 and 380 basis points from Q4 2019 • Operating margin was 11.1% ; Adjusted EBIT margin expanded to 12.0% , up from 8.2% in Q4 2020 and 9.3% in Q4 2019 • Net income was $153 million; Adjusted net income was $170 million, up from $81 million in Q4 2020 and $108 million in Q4 2019 • Diluted EPS was $0.37; Adjusted diluted EPS was $0.41, up 105% from $0.20 in Q4 2020 and 58% from $0.26 in Q4 2019 Financial Highlights for the Full Year • Reported net revenues of $5.8 billion up 29% versus FY 2020 and flat to FY 2019 • Gross margin was 58.1%; Adjusted gross margin was 57.9% , up 350 basis points from FY 2020 and 410 basis points from FY 2019 • Operating margin was 11.9%; Adjusted EBIT margin expanded to 12.4% , up from 4.1% in FY 2020 and 10.6% in FY 2019 • Net income was $554 million; Adjusted net income was $601 million , up from $84 million in FY 2020 and $456 million in FY 2019 • Diluted EPS was $1.35; Adjusted diluted EPS was $1.47 , up 600% from $0.21 in FY 2020 and 31% from $1.12 in FY 2019 • Adjusted free cash flow was $230 million , up $88 million versus FY 2020 and up $114 million versus FY 2019 • The company repurchased 3.4 million shares for $88.4 million • A total of $104.4 million in dividends were paid during the year "We achieved strong results, including multi-decade record revenues and profitability, delivering an adjusted EBIT margin for the full year of 12.4% despite heightened supply chain challenges and product costs," said Harmit Singh, chief financial officer of Levi Strauss & Co.”
SEC filingas of
Earnings · Financial
Levi Strauss & Co reported quarterly results
third quarter earnings: “Financial Highlights for the Third Quarter • Reported net revenues of $1.5 billion up 41% versus Q3 2020 and up 3% versus Q3 2019 ◦ Direct-to-Consumer reported net revenues up 34% versus Q3 2020 and up 4% versus Q3 2019 ◦ Global Wholesale reported net revenues up 45% versus Q3 2020 and up 3% versus Q3 2019 ◦ Net revenues through all digital channels grew 10% versus Q3 2020 and 76% versus Q3 2019 ◦ Digital sales represented approximately 20% of total third quarter revenues • Gross margin was 57.6%; Adjusted gross margin was 57.5%, up 390 basis points from Q3 2020 and 450 from Q3 2019 • Operating margin was 14.4% ; Adjusted EBIT margin expanded to a third quarter record of 14.8% , up from 7.9% in Q3 2020 and 12.2% in Q2 2019 • Net income was $193 million; Adjusted net income was $197 million up from $31 million in Q3 2020 and $128 million in Q3 2019 • Diluted EPS was $0.47 ; Adjusted diluted EPS was $0.48 , up from $0.08 in Q3 2020 and $0.31 in Q3 2019 • Adjusted free cash flow for the first nine months of 2021 was $251 million, above prior year Subsequent to Quarter- End: • The company paid back the remaining $200 million balance of its 2025 Notes, returning gross debt back to pre-pandemic levels • The company completed the acquisition of Beyond Yoga , for an aggregate purchase price of approximately $400 million, diversifying the business into the high growth activewear segment • The Board of Directors authorized a $200 million share repurchase program “We delivered a strong quarter with revenue growth versus pre-pandemic 2019 levels, despite a more difficult macro-environment than we expected,” said Chip Bergh, president and chief executive officer of Levi Strauss & Co.” Previous: “Financial Highlights for the Third Quarter • Reported net revenues of $1.5 billion up 41% versus Q3 2020 and up 3% versus Q3 2019 ◦ Direct-to-Consumer reported net revenues up 34% versus Q3 2020 and up 4% versus Q3 2019 ◦ Global Wholesale reported net revenues up 45% versus Q3 2020 and up 3% versus Q3 2019 ◦ Net revenues through all digital channels grew 10% versus Q3 2020 and 76% versus Q3 2019 ◦ Digital sales represented approximately 20% of total third quarter revenues • Gross margin was 57.6%; Adjusted gross margin was 57.5%, up 390 basis points from Q3 2020 and 450 from Q3 2019 • Operating margin was 14.4% ; Adjusted EBIT margin expanded to a third quarter record of 14.8% , up from 7.9% in Q3 2020 and 12.2% in Q2 2019 • Net income was $193 million; Adjusted net income was $197 million up from $31 million in Q3 2020 and $128 million in Q3 2019 • Diluted EPS was $0.47 ; Adjusted diluted EPS was $0.48 , up from $0.08 in Q3 2020 and $0.31 in Q3 2019 • Adjusted free cash flow for the first nine months of 2021 was $251 million, above prior year Subsequent to Quarter- End: • The company paid back the remaining $200 million balance of its 2025 Notes, returning gross debt back to pre-pandemic levels • The company completed the acquisition of Beyond Yoga , for an aggregate purchase price of approximately $400 million, diversifying the business into the high growth activewear segment • The Board of Directors authorized a $200 million share repurchase program “We delivered a strong quarter with revenue growth versus pre-pandemic 2019 levels, despite a more difficult macro-environment than we expected,” said Chip Bergh, president and chief executive officer of Levi Strauss & Co.”
SEC filingas of
History · Corporate
Levi Strauss & Co. acquires Beyond Yoga
Levi Strauss & Co. announced the acquisition of Beyond Yoga on August 5, 2021.
Wikipediaas of
Earnings · Financial
Company raises fiscal year 2021 outlook for both net revenues and EPS.
second quarter margin: “Gross margin was 58.8 percent of net revenues, up from 34.1 percent in the same quarter of the prior year, primarily reflecting $87 million in charges taken in the second quarter of fiscal 2020 related to COVID-19.” Previous: “Gross margin was 58.8 percent of net revenues, up from 34.1 percent in the same quarter of the prior year, primarily reflecting $87 million in charges taken in the second quarter of fiscal 2020 related to COVID-19.”
SEC filingas of
History · Corporate
Levi Strauss & Co. held its initial public offering on March 21, 2019.
Wikipediaas of
What we do not publish
Citation-only diffs, continuum cleanup, junk filings, and observations without a source URL. The rule for each type is on Methodology.