US-based apparel company, Levi Strauss & Co reported a 22 per cent increase in Q4 revenues to $1.7 billion in fiscal 2021 as compared to the fourth quarter of fiscal 2020. The company’s direct-to-consumer (DTC) net revenues increased by 25 per cent as compared to the corresponding quarter of fiscal 2020.

The company’s global digital net revenues in the fourth quarter increased by 2 per cent compared to the same period in the prior year and comprised 21 per cent of fourth quarter fiscal 2021 net revenues. Its wholesale net revenues increased 20 per cent primarily reflecting strong demand for the Levi's brand globally.

In 2021, the company’s net revenues increased by 29 per cent to $5.8 billion. Its net income increased to 554 million in fiscal 2021. The adjusted net income increased by$84 million to $601 million in 2021.

The company expects its net revenues to grow by 11 to 13 per cent for fiscal 2022 as compared to fiscal 2021, between $6.4 billion and $6.5 billion. The company’s outlook assumes no significant worsening of the COVID-19 pandemic, inflationary pressures or dramatic incremental closure of global economies.