Home / Knowledge / News / Apparel/Garments / Levi Strauss & Co net revenue up 4% to 1.45 bn in Q3 2019

Levi Strauss & Co net revenue up 4% to 1.45 bn in Q3 2019

11
Oct '19
Pic: Levi Strauss
Pic: Levi Strauss
Net revenue of Levi Strauss & Co grew 4 per cent to 1.45 billion on a reported basis and 5 per cent on a constant-currency basis for Q3 ending August 25, 2019. For year-to-date, net revenue grew 5 per cent to $4.2 billion on a reported basis and 8 per cent on a constant-currency basis. Levi Strauss & Co is one of world's largest brand-name apparel companies.

The company's direct-to-consumer business grew by 12 per cent on a constant-currency basis in the third quarter, primarily due to expansion and performance of the retail network and e-commerce growth. Net revenues from the company's wholesale business grew 1 per cent on a reported basis and 2 per cent on a constant-currency basis, reflecting growth in Europe and Asia.

In the Americas, net revenues declined 3 per cent on both a reported and on a constant-currency basis due to a decline in the wholesale business, offset in part by growth in the direct-to-consumer business. Direct-to-consumer net revenues growth of nine per cent reflected the Levi’s brand’s strength in the region. The decline in wholesale primarily reflected a Dockers line reset in the second half of 2018, reduced shipments to the off-price channel in 2019, and the impact in 2019 of a pending acquisition of a South American distributor.

In Europe, net revenues grew 14 per cent on a reported basis and 18 per cent on a constant-currency basis, reflecting continued broad-based growth in both direct-to-consumer and wholesale channels across the region. In Asia, net revenues grew nine per cent on a reported basis and 12 per cent on a constant-currency basis, reflecting strong performance across traditional wholesale and direct-to-consumer channels across the region. Revenue growth was broad-based across most of the region's markets.

For year-to-date, the company’s direct-to-consumer business grew 13 per cent on a constant-currency basis due to performance and expansion of the retail network and e-commerce growth. Wholesale net revenues grew 3 per cent on a reported basis and five per cent on a constant-currency basis reflecting growth in all regions.

"We delivered strong third-quarter results and remain on-track to achieve our full-year expectations," said Chip Bergh, president and CEO of Levi Strauss & Co. "Our strategies to diversify to faster-growing, high-opportunity, high gross margin businesses continue to drive momentum, as we again grew revenues double-digits internationally, in our direct-to-consumer business, and in the women’s and tops categories. And our global wholesale business grew two percent in constant-currency, despite US wholesale facing what we expect will be the toughest comparison of the year. As for the fourth quarter, we again expect strong performance in international, direct-to-consumer, women's and tops, and improved comparisons for US wholesale. We'll stay focused on what we can control as we grow this business over the long-term."

For the full-year of 2019, the company expects net revenue growth of five-and-a-half to six per cent on constant-currency basis; this incorporates the impact of the South American distributor acquisition announced in August this year.

Fibre2Fashion News Desk (PC)


Interviews View All

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Awanda Booth,

Awanda Booth

Held every year in New York City, Surtex is a global business-to-business...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

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

Leave your Comments


October 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search