Fashion Retailer Levi Strauss Sees Continued Revenue Boost

  • 10% increase in Q3 retail sales for Levi Strauss and Co.
  • European sales grew by 17% to $406m (£308m)
  • American and Asian markets saw a 7% and 8% increase respectively
  • Direct-to-consumer revenues up 14% due to retail network expansion and ecommerce growth
  • Net income increased by $40m (£30m) due to lower taxes and gains on hedging contracts
  • Adjusted EBITDA rose from $147m (£111m) in 2017 to $162m (£122m) in Q3 2018
  • CEO Chip Bergh: ‘We delivered our fourth consecutive quarter of double-digit revenue growth’.

Levi Strauss & Co. has reported a 10% increase in retail sales during the twelve weeks to August 26, marking its fourth consecutive quarter of revenue growth. The company’s net revenue for the three-month period reached $1.39bn (£1.05bn), up from $1.26bn (£955m) in the previous year. European sales grew by 17% to $406m (£308m). Both American and Asian markets experienced a 7% and 8% increase, respectively. Direct-to-consumer revenues rose by 14% due to performance improvements and retail network expansion, as well as ecommerce growth. Levi’s ended Q3 with 65 more stores than the previous year. Net income increased by $40m (£30m) thanks to lower taxes and gains on hedging contracts compared to Q3 2017. Adjusted EBITDA rose from $147m (£111m) in 2017 to $162m (£122m) in Q3 2018. CEO Chip Bergh stated, ‘We delivered our fourth consecutive quarter of double-digit revenue growth.’

Factuality Level: 10
Factuality Justification: The article provides accurate information about Levi Strauss and Co.’s financial performance, including specific revenue figures, growth percentages, and CEO’s statement. It is well-structured and relevant to the main topic without any digressions or unnecessary details.
Noise Level: 3
Noise Justification: The article provides relevant information about Levi Strauss’ financial performance and growth across various regions and product categories, with a focus on key metrics such as revenue, net income, and adjusted EBITDA. It also includes a quote from the CEO to support the claims made. However, it lacks in-depth analysis or exploration of long-term trends or consequences of these results.
Financial Relevance: Yes
Financial Markets Impacted: Levi Strauss and Co.’s stock price may be impacted by this positive financial performance.
Financial Rating Justification: The article discusses Levi Strauss and Co.’s financial performance, including revenue growth, net income increase, and adjusted EBITDA increase, which are relevant to the company’s financial health. This information could potentially affect the company’s stock price in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text

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