US-based apparel retailer Levi Strauss has reported $1.5bn in net revenue for the second quarter (Q2) of the fiscal year 2022 (FY22), which ended on 29 May.
The figure represents a 15% increase from the corresponding period of last year.
Go deeper with GlobalData
For the three-month period, Levi Strauss’ reported net revenue was up by 20% on a constant-currency basis compared with the same period of last year.
Driven by a 23% increase in its company-operated stores, the retailer’s global direct-to-consumer revenue rose by 16% from the prior year, while its global wholesale revenues increased by 15% year-on-year.
Levi Strauss’ net revenues from global digital sales represented around 20% of its total Q2 net revenues, up by 3% on top of a 75% growth in the same quarter of FY21.
See Also:
The company’s gross profit for the quarter was $855m compared with $750m a year earlier, while its gross margin represented 58.1% of its net revenues, as against 58.8% in the same quarter of the prior year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataDue to the effects of the Russia-Ukraine conflict, Levi Strauss saw its operating income drop to $76m from $107m a year previous.
This decline impacted its net income, which declined from $65m last year to $50m in Q2 2022.
Its earnings per share (EPS) for Q2 were $0.12, compared with $0.16 in the prior-year period.
Levi Strauss president and CEO Chip Bergh said: “Our second quarter results demonstrate the power of our strategy, which continues to support strong revenue growth and margin expansion.
“By continuing to advance our most impactful growth drivers – being brand-led, direct to consumer first and diversifying the portfolio, we are well-positioned to continue to drive growth and create significant value for all our stakeholders.”
For the full year, Levi Strauss expects its net revenues to grow by 11% to 13% and has forecast adjusted diluted EPS of between $1.50 and $1.56.
