Levi Strauss & Co. - LEVI STOCK NEWS

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.

Target Corporation (NYSE: TGT) announced a new limited-edition collection in collaboration with Levi Strauss & Co. (NYSE: LEVI), marking Levi's first Home partnership. This collection, launching on Feb. 28, 2021, includes over 100 durable and thoughtfully-designed items such as tableware, quilts, and pet apparel, priced from $3 to $150. The partnership aims to inspire sustainable living while offering unique products unavailable elsewhere. Target plans to feature curated displays in 500 stores by Fall 2021, emphasizing their commitment to strategic partnerships to enhance customer offerings.

Levi Strauss & Co. (NYSE: LEVI) will hold a conference call on January 27, 2021, at 2:00 p.m. PT to discuss its fourth quarter financial results for the period ending November 29, 2020. The call will feature insights from Chip Bergh, CEO, and Harmit Singh, CFO. Investors can access the live webcast through Levi's investor relations website or by dialing in. A replay will be available for one quarter. The company, a leader in jeanswear, had net revenues of $5.8 billion in 2019.

Levi Strauss & Co. (NYSE: LEVI) has appointed Elliott Rodgers to its board of directors, effective immediately. Rodgers, currently the chief information officer at Ulta Beauty, brings over a decade of retail experience, particularly in ecommerce and supply chain management. His leadership in digital transformation and operational excellence is expected to enhance Levi's direct-to-consumer strategy. Rodgers holds a B.S. from West Point and an MBA from Harvard. This appointment aims at leveraging his expertise to innovate product delivery methods and strengthen the company's market position.

Levi Strauss & Co. (NYSE: LEVI) will participate in a fireside chat at the J.P. Morgan Global Consumer, Retail & Luxury Conference on November 12, 2020, at 11:00 a.m. ET. Chip Bergh, President and CEO, and Harmit Singh, CFO, will represent the company. The event will be held virtually, and a live webcast can be accessed via their website, with a replay available within 24 hours until December 9, 2020. Levi Strauss is a leader in jeanswear, reporting $5.8 billion in net revenues for 2019.