Levi Strauss & Co. (NYSE: LEVI) has announced financial results for the third quarter of 2024, reporting an increase in net income. Meanwhile, revenues remained broadly unchanged year-over-year.
Adjusted net income advanced to $132 million or $0.33 per share in the August quarter from $112 million or 0.28 per share in Q3 2023. On a reported basis, earnings more than doubled to $21 million or $0.05 per share in the third quarter from $10 million or $0.02 per share a year earlier.
At $1.52 billion, third-quarter revenues were broadly unchanged from the prior-year period. Direct-to-consumer net revenues increased by 10% on a reported basis and 12% on a constant-currency basis.
“We are making progress against our strategic priorities, including double-digit growth in our direct-to-consumer business, continued positive performance in the U.S., and Europe inflecting to growth,” said Michelle Gass, CEO of Levi Strauss.