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Levi Strauss & Co revenue up 5% to $1,313 mn in Q2 2019

Jul '19
Pic: Levi Strauss
Pic: Levi Strauss
Levi Strauss & Co's revenue grew 5 per cent to $1.313 million in Q2 of 2019 ending May 26, 2019, from $1,246 million in Q2 of 2018. The year-to-date revenues were up 6 per cent. The net income was down 63 per cent in Q2 primarily due to costs associated with IPO year-to-date reported net income triples, reflecting last year's change in tax law.
"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 & Co in a press release by the company. "For both periods, the Levi's brand grew in all three regions across men's, women's, tops and bottoms and maintained its position at the centre of culture through iconic products and consumer experiences."
In the Americas, net revenues grew three per cent on a reported basis and four per cent on a constant currency basis, reflecting higher revenues across both wholesale and direct-to-consumer channels across the region. 
In Europe, net revenues grew nine per cent on a reported basis and 18 per cent on a constant-currency basis, reflecting continued broad-based growth across both direct-to-consumer and wholesale channels across the region. 
In Asia, net revenues grew six 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 the region's markets.
The company's direct-to-consumer business grew nine per cent on a reported basis year to date,
primarily due to performance and expansion of the retail network and e-commerce growth. Reported net revenues related to the company's wholesale business grew four per cent year-to-date, reflecting growth in all regions.
Levi Strauss & Co is one of the world's largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's , Dockers, Signature by Levi Strauss & Co, and Denizen brands. (PC)

Fibre2Fashion News Desk – India

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