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) is a globally recognized name in the fashion industry, headquartered at 114 S Avenue, Minneapolis, Minnesota, United States. The company is renowned for its extensive portfolio of jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. These products are marketed and sold under well-established brands such as Levi's, Dockers, Signature by Levi Strauss & Co., and Denizen.
Levi Strauss & Co. operates through three primary regional segments: the Americas, Europe, and Asia. The Americas region, being the key revenue driver, comprises a significant portion of the company's sales. The company's strategic approach involves direct sales, partnerships with third parties, and licensing agreements to reach a diverse customer base, including men, women, and children.
Recent achievements highlight Levi Strauss & Co.'s commitment to innovation and sustainability. The company has introduced new collections that cater to the evolving fashion needs of modern consumers while emphasizing eco-friendly production processes. Financially, Levi Strauss & Co. continues to maintain a strong position with consistent revenue growth, driven by its popular product lines and expanding market presence.
Levi Strauss & Co. also focuses on strategic partnerships and collaborations to enhance its brand visibility and customer reach. These initiatives have further solidified its standing as a leader in the apparel industry. The company remains dedicated to delivering high-quality products that resonate with a global audience.
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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