Categories AlphaGraphs, Consumer, Earnings

LEVI Earnings: Levi Strauss slips to loss in Q2 on lower revenues

Levi Strauss & Co. (NYSE: LEVI) announced financial results for the second quarter, reporting a net loss compared to profit last year and a decline in revenues.

Levi Strauss' 2Q 2023 Financial Summary

The apparel company posted a net loss of $1.6 million for the second quarter of 2023, compared to earnings of $49.7 million or $0.12 per share in the year-ago period. Meanwhile, on an adjusted basis, it was net income of $15 million or $0.04 per share in Q2, compared to $117 million or $0.29 per share in the corresponding period of 2022.

The company reported net revenues of $1.34 billion for the May quarter, which is down 9% year-over-year. Direct-to-consumer net revenue increased 13%, driven by broad-based growth in both company-operated mainline/outlet stores and e-commerce.

“While U.S. wholesale remains pressured, we are pursuing initiatives to stabilize this business and drive market share gains. We are confident in our ability to navigate near-term headwinds and remain as optimistic as ever about the company’s future,” said Levi’s CEO Chip Bergh.

Prior Performance

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Earnings Preview: Will American Express’ Q4 report impress the market?

American Express Company (NYSE: AXP) is expected to report higher revenue and profit for the fourth quarter of fiscal 2024. Last year, the credit card giant delivered stable financial performance,

Constellation Brands (STZ): A look at the dark clouds and the silver lining

Shares of Constellation Brands (NYSE: STZ) stayed red on Friday. The stock has dropped 23% over the past three months. The beer giant faced several challenges during the third quarter

What to look for when Halliburton Company (HAL) reports Q4 2024 results?

Halliburton Company (NYSE: HAL) is expected to report fourth-quarter results on Wednesday, January 22, at 6:45 am ET. The oilfield service provider is currently recovering from a rough patch, marked

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close