Home / Knowledge / News / Apparel/Garments / Levi Strauss ends the year with higher Q4 net income
Levi Strauss ends the year with higher Q4 net income
09
Feb '11
Levi Strauss & Co announced financial results for the fourth quarter and fiscal year ended November 28, 2010.

The company grew revenues across each geographic region in fiscal year 2010, due to the strength of the Levi's brand, an expanded global store network and the acquisitions made in 2009. As a result, full-year net revenues were up 7 percent from the prior year and fourth-quarter net revenues were up 7 percent compared to the same period in the prior year. Full-year net income increased 3 percent over the prior year and fourth-quarter net income increased 28 percent compared to the same period in the prior year.

“In 2010, we made significant progress transforming our business and moving towards sustainable long-term growth,” said John Anderson, president and chief executive officer of Levi Strauss & Co. “We improved our profitability, and across all of our regions we grew revenues. Looking ahead, we remain committed to our strategies to enhance product, engage consumers with innovative brand experiences and expand our global presence.”

Fourth Quarter 2010 Highlights

• Gross profit in the fourth quarter was $647 million compared with $618 million for the same period in 2009 reflecting the increase in net revenues. Gross margin for the fourth quarter was 50.2 percent of revenues compared with 51.1 percent of revenues in the fourth quarter of 2009.
• Selling, general and administrative (SG&A) expenses for the fourth quarter were $528 million compared with $501 million in the same period of 2009. The increase was primarily due to higher selling costs related to additional company-operated retail stores.
• Operating income for the fourth quarter was $119 million compared with $118 million for the same period of 2009.

Regional Overview

• Higher net revenues in the Americas primarily resulted from the Levi's retail business and U.S. Dockers brand.
• Net revenues in Europe increased due to growth in the company-operated retail network across the region and improvement in the Levi's wholesale business.
• Net revenues in Asia Pacific increased due to the continued expansion of the company's brand-dedicated retail network in China and India as well as in other emerging markets, while Japan continued to decline.

“We are pleased that we delivered top-line growth for 2010,” said Blake Jorgensen, chief financial officer of Levi Strauss & Co. “We are committed to driving long-term sustainable growth and we will continue to invest behind our strategies in 2011 as we did in 2010.”

Fiscal Year 2010 Highlights

• Gross profit for the fiscal year was $2,223 million compared with $1,973 million in 2009. Gross margin increased to 50.4 percent of revenues for the year compared with 48.1 percent of revenues in 2009. Gross margin benefited from an increased proportion of sales from the company's retail network.
• Selling, general and administrative expenses were $1,842 million for 2010 compared to $1,595 million the prior year. The increase resulted from a combination of continued expansion of the company-operated store network; planned advertising and promotions to support the U.S. Levi's brand and U.S. Dockers brand campaigns, as well as the global launch of Levi's Curve ID jeans for women and the launch of Denizen brand in Asia Pacific; and higher costs associated with the company's pension.


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X