We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Jul 17, 202412:55pm

Levi Strauss sales rise and profits triple in first half

However, the San Francisco-based company disappointed the market and its shares shed 6% on Tuesday. Second-quarter revenues rose just 5%, reaching 1.3 billion dollars.

Jul 10, 2019 — 1:00pm
Related topics

Levi Strauss sales rise and profits triple in first half



Levi Strauss closes a bittersweet semester. The San Francisco-based denim giant tripled its earnings in the first half of the fiscal year, reaching 175 million dollars, due to the impact of the fiscal reform in the United States. However, second-quarter results were disappointed and Levi shares dipped 6% on Tuesday, following the presentation.


Levi Strauss revenue rose 6% in first half, reaching 2.7 million dollars. However, reported net income sank 63% primarily due to costs associated with IPO. Levi Strauss was already public between 1971 and 1984, when its founder’s heirs excluded the company from the stock market. The initial public offering last March gave the company an initial market capitalisation of 6.6 billion dollars.





Second-quarter sales, however, rose 5%, to 1.3 billion dollars, with including a 44 million dollars in unfavourable currency effects. The company’s direct-to-consumer business grew reported revenues by 9% in the second quarter, primarily due to performance and expansion of the retail network and e-commerce growth, said the company in a press release today.


“Our second quarter and first half results reflect the continued strength of our diversified business model as we delivered broad-based growth across all brands, regions and key product categories despite a challenging retail and macroeconomic environment”, said Chip Bergh, president and chief executive officer of Levi Strauss.

Participation rules



Validation policy for comments: 

MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment