Levi Strauss has recorded seven per cent revenue increase in the third quarter. Direct sales to consumers grew by 16 per cent and wholesale revenue by four per cent. Revenue increases in the year’s first two quarters were four per cent and six per cent. Levi Strauss is the owner of brands Levi’s and Dockers.
The group also reported a 180 base-point increase in its gross margin. However, due to unfavorable exchange rate adjustments and a series of equity operations, Levi Strauss' net income was down ten per cent. The group’s EBIT was up one per cent compared to last year.
Despite the changes affecting retail, Levi Strauss has achieved profitable growth and is leveraging the strength of its diversified business and the confidence it has in its brands. Its advertising and media investment in the fourth quarter is growing exponentially. The launch of the jacket developed with Google, and the initiatives celebrating the 50th anniversary of the Trucker Jacket, reinterpreted by 50 celebrities, artists and influencers from around the world, will add great energy to the year-end for Levi’s.
The group has revised its guidance for the fiscal year 2017 as a whole, currently forecasting a growth between five per cent and six per cent.