Levi Strauss & Co. - LEVI STOCK NEWS

Levi Strauss & Co. (NYSE: LEVI) announced Michelle Gass as president, LS&Co., effective January 2, 2024. Gass will oversee Levi’s global digital and commercial operations and is poised to succeed Chip Bergh as CEO within 18 months. Her extensive experience includes significant roles at Kohl’s and Starbucks, where she drove brand innovations and digital growth. The board is optimistic about Gass's leadership, seeing her as crucial for long-term value creation. Gass expressed eagerness to advance the Levi's brand and capitalize on its potential.

Levi Strauss & Co. (NYSE: LEVI) reported $1.5 billion in net revenues for Q3 2022, a 1% increase year-over-year, or 7% in constant currency. Diluted EPS came in at $0.43, with adjusted diluted EPS of $0.40. The company anticipates 6.7%-7.0% revenue growth for FY2022 but noted challenges due to macroeconomic pressures and supply chain disruptions that could impact revenues by $30-$40 million. Despite these issues, Levi's brand experienced 6% growth in constant currency. The company remains focused on its long-term growth objectives.

Levi Strauss & Co. (NYSE: LEVI) will hold a conference call on October 6, 2022, at 2 p.m. PT to discuss its third-quarter financial results for the period ending August 28, 2022. The call will feature CEO Chip Bergh and CFO Harmit Singh. Interested parties can pre-register for access and a live webcast will be available online. Levi Strauss, a major player in apparel, reported $5.8 billion in net revenues for 2021, with products sold in over 110 countries.

Levi Strauss & Co. has launched a nonpartisan voter registration initiative on over 150 community college campuses, aiming to enhance civic engagement ahead of the upcoming midterm elections. The initiative addresses historically low voter registration and voting rates among community college students, who represent over 40% of U.S. undergraduates. Partnering with organizations like Campus Takeover and Students Learn Students Vote, LS&Co. aims to close this voting gap, offering resources and support for eligible voters.

Levi Strauss & Co. (NYSE: LEVI) announced that CFO Harmit Singh will participate in a fireside chat at the Bank of America Securities 2022 SMID CAP Ideas for the 2H Conference on Tuesday, August 9, 2022, at 12:10 p.m. ET. The event will be accessible via a live webcast, with a replay available until November 10, 2022. Levi Strauss is a leading global apparel company, known for its jeans and casual wear, with reported net revenues of $5.8 billion in 2021. The company operates in over 110 countries, showcasing its expansive market presence.

Kohl's (NYSE: KSS) has partnered with Levi's (NYSE: LEVI) to relaunch the iconic SilverTab collection, originally popular in the '90s. Available exclusively at Kohl's and online, the collection features relaxed and baggy denim for the whole family, aiming to enhance Kohl's reputation as a denim destination. The revival includes popular styles such as loose jeans and oversized jackets, targeting customers during the back-to-school season. This collaboration highlights Kohl's strategy of modernizing its offerings with premium styles to meet evolving consumer preferences.

Levi Strauss & Co. reported net revenues of $1.5 billion, a 15% increase from Q2 2021, and a 20% rise in constant currency. Adjusted EBIT was $145 million, up 27%, while diluted EPS decreased to $0.12 due to $60 million charges from the Russia-Ukraine crisis. The company reaffirmed annual guidance for revenue growth of 11% to 13% and adjusted EPS between $1.50 and $1.56. A 20% increase in quarterly dividends reflects a commitment to shareholder returns.