Levi’s net income for the third quarter grew 45 per cent. Revenues rose 10 per cent. Net income growth came primarily from lower income taxes, higher operating income and gains on the company’s hedging contracts compared with losses in the third quarter of 2017.
The strongest market for Levi’s was the Americas where revenues were up seven per cent. Direct-to-consumer business in the Americas grew 13 per cent. Europe was the company’s second largest market where revenues grew 17 per cent. Strong sales were seen in the women’s categories and tops. Direct-to-consumer business grew 15 per cent.
Asia’s revenues jumped eight per cent. The company now has RFID, or radio-frequency identification, in all its US stores to manage inventory more effectively and hopes to expand that globally and with its franchise partners within the next 12 months.
Levi’s, based in the US, has developed new marketing and advertising campaigns and partnered with influencers. Levi’s recently collaborated with celebrity Justin Timberlake for a 20-piece collection of menswear. Globally, Levi’s sells a T-shirt every second and has been doing so for the last two years.
The company has four brands: Levi’s, Signature by Levi Strauss & Co., Denizen and Dockers.