Levi Strauss & Co. (NYSE: LEVI) has announced financial results for the second quarter of 2024, reporting an increase in revenues and adjusted profit.
The apparel company reported adjusted earnings of $0.16 per share for Q2, compared to $0.04 per share in the corresponding period of 2023. On a reported basis, net income was $18 million or $0.04 per share in the May quarter, compared to a loss of $1.6 million or $0.00 per share in the prior year period.
The company generated $1.44 billion in revenues during the second quarter, up 8% from $1.34 billion reported in the prior-year quarter. Direct-to-consumer net revenue increased 8%.
“Our transformational pivot to operating as a DTC-first company is yielding positive results around the world, giving me great confidence that we will achieve accelerated, profitable growth for the rest of the year and beyond,” said Levi’s CEO Michelle Gass.