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Levi Strauss Q1 revenue up seven per cent

Levi Strauss net revenue for the first quarter globally grew seven per cent. Revenue growth from brick-and-mortar stores was 11 per cent, reflecting positive comp performance of existing stores as well as ongoing expansion of the company’s store network internationally, while e-commerce grew 24 per cent. Direct to consumer grew 14 per cent for the quarter in total, and has now grown double-digits for 12 consecutive quarters. Direct to consumer includes the brick-and-mortar stores and e-commerce sites that Levi Strauss operates.

Levi Strauss is taking the opportunity as a newly publicly traded company to breathe fresh life into its brands and approach to business. The new chapter the company is writing is being driven by changes in retail-consumer relationship and the push to expand its reach to new customers in new ways. A key strategy is to become a leading world-class omnichannel retailer. Another vital strategy is to diversify the business by expanding more into tops and women’s under-penetrated markets. Levi’s women’s business grew 18 per cent in the first quarter.

When the company discovered the main reason shoppers left stores without buying anything was because they couldn’t find their size or color, it implemented an RFID system to help better track inventory and keep its stock up to date.

 
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