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Levi Strauss revenue up five per cent

Levi Strauss revenue was up five per cent over last year. It has expanded into new categories and found new ways to make sales. Levi Strauss had near across-the-board growth, with men’s sales up six per cent, women's rising 16 per cent and higher sales in both bottoms and tops. It also saw its global direct-to-consumer business shoot up 14 per cent year over year. The denim specialist has invested heavily in its online business and made strategic pairings, such as being featured at the Coachella music festival, a spot that resulted in sales of its Levi 501 cutoff shorts rising 50 per cent in the quarter.

The company’s wholesale business is primarily tied to sales to US department stores. Because the shopping mall is declining and department stores are reducing their footprints, Levi Strauss’ ability to sell more goods at more doors becomes limited. Levi Strauss expects the wholesale business in the US to be challenged in the second half of the year with bankruptcies and door closures and tightening of customers’ budgets. To offset the weakness, the company is attempting initiatives, such as a new concession model. For fiscal 2019, Levi Strauss expects net revenue growth to be in the mid-single digits.