U.S. apparel firm Levi Strauss’s third-quarter net profit accelerates to $ 193 million

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Levi Strauss & Co, a U.S.-based apparel company and leading jeans company, reported sales growth of 41% to $ 1.5 billion in the third quarter (Q3) of fiscal 21, ended on August 29, 2021, compared to sales of $ 1.0 billion in the same period last year. The company’s net income for the quarter climbed to $ 193.3 million (Q3 FY20: $ 27.0 million).

Levi Strauss & Co, a U.S.-based apparel company and leading jeans company, reported sales growth of 41% to $ 1.5 billion in the third quarter (Q3) of fiscal 21, ended on August 29, 2021, compared to sales of $ 1.0 billion in the same period last year. The company’s net income for the quarter climbed to $ 193.3 million (Q3 FY20: $ 27.0 million).

“These results reflect the strength of the Levi’s brand, the improved dynamics of our direct-to-consumer business and the scale and agility of our supply chain network where we have held up exceptionally well to macro- headwinds. Our future is bright given our iconic brand Levi’s and the acquisition of Beyond Yoga, which establishes our position in the high-growth, high-margin, premium sportswear market as we continue to capitalize on global trends in casualization ”, Chip Bergh, President and CEO of Levi Strauss & Co, said in a statement.

Levi Strauss & Co, a U.S.-based apparel company and leading jeans company, reported sales growth of 41% to $ 1.5 billion in the third quarter (Q3) of fiscal 21, ended on August 29, 2021, compared to sales of $ 1.0 billion in the same period last year. The company’s net income for the quarter climbed to $ 193.3 million (Q3 FY20: $ 27.0 million).

Wholesalers’ revenues for the third quarter increased 45%, reflecting strong demand in the United States and Europe, while direct-to-consumer sales (DTC) revenues increased 34% due to increased sales. revenues from our corporate stores.

Levi Strauss & Co, a U.S.-based apparel company and leading jeans company, reported sales growth of 41% to $ 1.5 billion in the third quarter (Q3) of fiscal 21, ended on August 29, 2021, compared to sales of $ 1.0 billion in the same period last year. The company’s net income for the quarter climbed to $ 193.3 million (Q3 FY20: $ 27.0 million).

Gross profit during the three-month period reached $ 862.1 million ($ 577.4 million). Additionally, operating profit increased to $ 216.3 million ($ 92.2 million).

Levi Strauss & Co, a U.S.-based apparel company and leading jeans company, reported sales growth of 41% to $ 1.5 billion in the third quarter (Q3) of fiscal 21, ended on August 29, 2021, compared to sales of $ 1.0 billion in the same period last year. The company’s net income for the quarter climbed to $ 193.3 million (Q3 FY20: $ 27.0 million).

Regionally, sales from the Americas in the third quarter of FY21 increased 52% to $ 838 million ($ 550 million), and Europe jumped 27% to 494 million dollars (390 million dollars). Sales from Asia increased 34% to $ 165 million ($ 123 million).

Levi Strauss & Co, a U.S.-based apparel company and leading jeans company, reported sales growth of 41% to $ 1.5 billion in the third quarter (Q3) of fiscal 21, ended on August 29, 2021, compared to sales of $ 1.0 billion in the same period last year. The company’s net income for the quarter climbed to $ 193.3 million (Q3 FY20: $ 27.0 million).

“Going forward, we are improving our outlook in terms of revenues and profits. We have taken pricing action and believe we have the pricing power to ease inflationary pressures. Our third quarter performance combined with our confidence in our outlook also allows us to allocate capital to all of our main priorities: investing in our business; pay off the debt; close an inorganic acquisition; and returning money to shareholders in the form of dividends and a newly authorized $ 200 million share buyback program, ” Harmit Singh, CFO of Levi Strauss & Co noted.

Fibre2Fashion Information Office (JL)


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