Levi Strauss & Co. (NYSE: LEVI) introduced outcomes for the fourth quarter of 2023, reporting a modest improve in revenues amid broad-based progress in each company-operated mainline and outlet shops.
The attire firm’s internet earnings declined to $126.8 million or $0.32 per share within the fourth quarter from $150.6 million or $0.38 per share within the prior yr interval. On an adjusted foundation, internet earnings was $179 million or $0.44 per share in This fall, in comparison with $137 million or $0.34 per share within the corresponding interval of 2022.
The corporate posted internet revenues of $1.64 billion for the December quarter, up 3% from $1.59 billion reported within the prior-year quarter. Direct-to-consumer internet income elevated 11%, pushed by broad-based progress in each company-operated mainline and outlet shops and e-commerce.
“While 2023 was a challenging year, we ended on a strong note and I am optimistic about the future. I couldn’t be more confident in Michelle as my successor, and together with the rest of our team, they position the company to thrive in its next phase of growth,” mentioned Levi’s CEO Chip Bergh.
