Levi Strauss & Co. - LEVI STOCK NEWS

Levi Strauss & Co. reported first-quarter 2021 net revenues of $1,306 million, reflecting a 13% decline year-over-year, largely due to COVID-19 impacts. The company experienced a significant digital revenue growth of approximately 41%, now comprising 26% of total sales. Gross margin rose to a record 58.2%, while SG&A expenses fell 12%. Net income was $143 million, a 7% decrease from the previous year. Despite challenging conditions, Levi raised its fiscal 2021 revenue outlook, anticipating growth of 24-25% compared to the first half of 2020, and adjusted EPS guidance to 41-42 cents.

Levi Strauss & Co. (NYSE: LEVI) will host a conference call on April 8, 2021, at 2:00 PM PT to discuss its financial results for the first quarter ended February 28, 2021. CEO Chip Bergh and CFO Harmit Singh will lead the call. Investors can access the live webcast at here or call in at +1.833.693.0541 in the U.S. A replay will be available after two hours on the company's investor relations site.

In 2020, Levi Strauss reported net revenues of $4.5 billion, marking its position as a global leader in jeanswear.

Levi Strauss & Co. (NYSE: LEVI) announced a leadership transition in its board of directors. Stephen C. Neal will step down as board chair on March 26, 2021, due to retirement age. Robert “Bob” A. Eckert has been appointed as his successor. Neal expressed confidence in Eckert's leadership, while CEO Chip Bergh highlighted Neal's role in the company's turnaround and public offering. Eckert, with over a decade of board experience and a strong background in global companies, is expected to enhance the board's effectiveness.

Levi Strauss & Co. (NYSE: LEVI) announced that CFO Harmit Singh will take part in a fireside chat at the J.P. Morgan 2021 Global High Yield & Leveraged Finance Conference on March 1, 2021, at 10:45 a.m. ET. This virtual conference allows investors to hear insights directly from the company's leadership. The live webcast can be accessed online, and a replay will be available until March 11, 2021. Levi Strauss reported net revenues of $4.5 billion in 2020, asserting its position as a leader in the jeanswear market.

Levi Strauss & Co. (NYSE: LEVI) has successfully completed a $500 million offering of 3.5% Senior Unsecured Notes due 2031. The proceeds will help redeem $800 million of its outstanding 5.00% senior notes due 2025, reducing interest expenses and improving its leverage ratio. CFO Harmit Singh highlighted the importance of financial discipline and investment in brands and digital channels to strengthen the company's future growth. The offering was made through a private placement under Rule 144A and Regulation S of the Securities Act.

Levi Strauss & Co. (NYSE: LEVI) announced that CEO Chip Bergh and CFO Harmit Singh will participate in a virtual fireside chat at the Goldman Sachs DTC / Digital Acceleration Conference on February 17, 2021, at 4:00 p.m. ET. The event will be accessible via a live webcast, with a replay available within 24 hours on the company's investor relations website. Levi Strauss & Co., a leader in global jeanswear, reported net revenues of $4,453 million in 2020, selling products in over 110 countries through various retail channels.

Levi Strauss & Co. (NYSE: LEVI) announced the pricing of $500 million in 3.50% senior notes due 2031. The offering, closing on February 19, 2021, is part of a private placement under Regulation S and Rule 144A. Proceeds will be used to redeem $800 million of 5.00% senior notes due 2025 and cover related costs. The notes are unregistered and subject to exemption from registration requirements.

Levi Strauss, a global leader in jeanswear, reported 2020 revenues of $4,453 million, selling products in over 110 countries.

Levi Strauss & Co. (NYSE: LEVI) is initiating a private placement of $500 million in senior notes due 2031. The proceeds will be used, along with cash reserves, to redeem $800 million of existing senior notes due 2025. These new notes will not be registered under the Securities Act and will be sold to qualified institutional buyers. The company emphasizes that this press release does not constitute an offer to sell or a solicitation for purchase.

Levi Strauss & Co. (NYSE: LEVI) reported a 12% decline in fourth-quarter net revenues, totaling $1,386 million, attributed to COVID-19 impacts, notably reduced traffic and store closures. Despite this, sequential improvement was noted from a 27% decline in Q3. E-commerce sales surged 38%, contributing to a record gross margin of 55.3%. Adjusted net income fell to $81 million, down 25% from the previous year. Total liquidity reached $2.3 billion with positive cash flow. The company aims for a return to pre-pandemic revenues by the end of 2021.