For the Q2 Levi Strauss revenues rose 17 per cent. The San Francisco-based company delivered its third consecutive quarter of double-digit revenue growth, driven by the disciplined execution of its strategies and a more diversified portfolio. The iconic brand also quadrupled its net income for the three month period. Net revenues grew 17 per cent, driven by broad-based brand growth across Levi's brands in all regions and channels. The Americas witnessed 11 per cent growth but clocked a five per cent net income decline in the domestic market, on increased retail expansion and advertising costs.
Internationally, Levi’s soared, particularly in the continent, as both Europe and Asia reported gains of 19 per cent and nine per cent. By category, Levi’s direct-to-consumer revenues grew 19 per cent on a solid sales performance and the expansion of its retail network, as well as e-commerce growth. Total wholesale revenues grew 14 per cent reflecting higher revenues in all regions.
Adjusted EBIT grew 15 per cent reflecting the revenue growth and higher gross margins, while operating income increased 22 per cent. The Levi’s brand collectively operated 53 more own stores at the end of the second quarter than it did a year prior.