Daily Management Review

Levi Strauss publishes first report after IPO


04/11/2019


Levi Strauss & Co., the manufacturer of denim clothing, published the first quarterly report after entering the public market.



Mike Mozart
Mike Mozart
Last year, the company showed an increase in revenue and profits. The current financial year also began with positive indicators.

In the first quarter, Levi Strauss revenue increased by 7% to $ 1.44 billion. Adjusted operating profit increased by 14% to $ 206 million, adjusted earnings per share rose by 81% to $ 151 million. Levi Strauss revenue increased in three key regions.

The company did not receive double-digit revenue growth due to currency fluctuations in Europe and Asia. Nevertheless, Levi Strauss gave positive signals to investors. Wholesale sales revenue increased by 5% to $ 869.3 million, while revenue from direct sales jumped by 9.6% to $ 565.1 million.

At the same time, direct income is likely to continue to grow, as the company plans to open about a hundred new stores in the 2019 fiscal year.

Currently, Levi Strauss is successfully expanding its sales, including going beyond the traditional denim business. In addition, there remains growth potential in Asia, where the company’s presence is low. At the same time, the jeans market has stabilized and promises an acceleration of growth rates from 3% in 2018 to 5% in 2019-2020, which opens up good prospects for Levi Strauss and can strengthen the market position compared to the yoga clothing that has gained popularity.

source: bloomberg.com






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