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Q3FY16 revenues rise 4% at Levi Strauss
15
Oct '16
Courtesy: Levi Strauss & Co
Courtesy: Levi Strauss & Co
For the third fiscal quarter ended August 28, 2016 net revenues rose 4 per cent year over year on a reported basis to touch $1,185 million at denim marketer Levi Strauss & Co. However, revenues grew higher at five per cent, when excluding $11 million in unfavourable currency translation effects, while direct to consumer sales increased 14 per cent.

On a reported basis, gross profit in the third quarter of fiscal 2016 was $593 million compared with $573 million for the same quarter of fiscal 2015, while gross margin stood at 50.0 per cent as against 50.2 per cent of revenues in the fiscal ago quarter.

Adjusted EBIT was up 14 per cent and reached $146 million in the reporting quarter reflecting higher direct-to-consumer sales and lower advertising costs.

In the quarter under review, net income surged 69 per cent year on year to $98 million mainly from growth in revenues and a decline in charges related to the company's productivity initiative. (AR)

Fibre2Fashion News Desk – India

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