217
Fashion Jobs
SHIMANO
Brand Coordinator
Permanent · UPPSALA
L'OREAL GROUP
Pharmacy Representative - Dermatological Beauty Division - Gothenburg Region
Permanent ·
GANT
Business Controller
Permanent · STOCKHOLM
GANT
Senior Business Controller
Permanent · STOCKHOLM
H&M
Operations Manager to h&m Distribution Center Borås
Permanent · BORÅS
H&M
Web Analyst / qa Data Layer Resource
Permanent · STOCKHOLM
H&M
Data Analyst to h&m – Supply Planning
Permanent · STOCKHOLM
H&M
Engineering Manager Sap Platforms, Sap Dev & Tech
Permanent · STOCKHOLM
H&M
Wifi Solution Architect - Network
Permanent · STOCKHOLM
H&M
Cyber Security Iam Manager
Permanent · STOCKHOLM
NAKD
Head of Sales
Permanent · GOTHENBURG
NAKD
Head of Commercial Business Control
Permanent · GOTHENBURG
H&M
Pension & Benefits Administrator And Process Improver
Permanent · STOCKHOLM
H&M
Technical Engineer For Warehouse Devices Management
Permanent · STOCKHOLM
H&M
Junior Planner to h&m Assortment- Open Application
Permanent · STOCKHOLM
RALPH LAUREN
Sales Professional
Permanent · STOCKHOLM
H&M
Advanced User Team Leader
Permanent · ESKILSTUNA
ZALANDO
Principal Product Manager - Data And Platform (All Genders)
Permanent · STOCKHOLM
ESSILORLUXOTTICA GROUP
Key Account Manager Nordics
Permanent · GOTHENBURG
H&M
Production Manager – Singular Society
Permanent · STOCKHOLM
ZALANDO
Senior Product Manager - Finance & Compliance (All Genders)
Permanent · STOCKHOLM
ZALANDO
Senior Product Manager - Returns Shipping Solutions
Permanent · STOCKHOLM
Ads
Published
Oct 12, 2016
Reading time
2 minutes
Download
Download the article
Print
Text size

Levi Strauss sales rise, profits surge in latest quarter

Published
Oct 12, 2016

Levi Strauss & Co saw revenue rising in Q3 as its international and direct-to-consumer businesses (which includes its own stores and e-commerce ops) grew. But profits surged by 69% to $98m in the three months to August 28.


Levi Strauss is seeing rising sales internationally but the US remains challenging - Levi's


Net revenues grew 4% to $1.185bn on a reported basis. But currency exchange had a negative effect and turnover rose 5% currency-neutral. The fugures were boosted by higher direct-to-consumer sales, which grew 14%. The company’s store network also performed well, while currency-neutral wholesale revenues increased in low single-digits for the quarter.

The net income rise primarily reflected the revenue growth and a decline in charges related to the firm’s productivity initiative that had dented profits in Q3 last year. Even without that beneficial effect, adjusted earnings before interest and taxes (EBIT) grew a still-healthy 14% to $146m as those increased direct-to-consumer sales proved profitable and the company cuts its advertising costs.

Its CEO Chip Bergh said that the company was pleased with its performance as it saw revenue growth across all three regions and that its stores and e-tail ops were both growing in double-digits. But he added that Levi Strauss is facing a continued challenging environment, especially in its domestic market, the US.

The company also saw a fall in the gross margin for Q3 at 50.0% of revenues compared with 50.2 percent of revenues a year earlier. This happened as lower international costs and product costs were offset by the negative effects of currency exchange and lower margins in the US wholesale business.

Despite this, in the Americas, currency-neutral net revenues rose 3% as direct-to-consumer and wholesale revenues grew in Mexico. Net revenues in the US declined slightly, as direct-to-consumer growth was offset by that decline at wholesale.

In Europe, excluding unfavourable currency effects, net revenues grew 10% reflecting direct-to-consumer growth. And in Asia, excluding those currency effects, net revenues grew 6%. This was also primarily due to direct-to-consumer expansion as well as improved wholesale performance.

 

Copyright © 2024 FashionNetwork.com All rights reserved.