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

Infographic: How Spotify (SPOT) performed in Q2 2024

Spotify Technology S.A. (NYSE: SPOT) reported its second quarter 2024 earnings results today. Total revenue increased 20% year-over-year to EUR3.8 billion. Net income attributable to owners of the parent was

Philip Morris (PM) Q2 2024 Earnings: Key financials and quarterly highlights

Philip Morris International Inc. (NYSE: PM) reported its second quarter 2024 earnings results today. Net revenues increased 5.6% year-over-year to $9.5 billion. On an organic basis, revenues grew 9.6%. Net

LMT Earnings: Highlights of Lockheed Martin’s Q2 2024 financial results

Lockheed Martin Corporation (NYSE: LMT) Tuesday reported a year-over-year increase in net sales for the second quarter of 2024. The management raised its fiscal 2024 guidance. The aerospace company reported

Add Comment
Viewing Highlight