Levi Strauss Records Strong Quarter and Implements Restructuring Plan

📈Levi Strauss reported growth in Q4, with revenues up 2% and strong momentum in its wholesale and direct-to-consumer businesses.

🔻Full-year guidance fell below expectations, leading to the announcement of a restructuring plan.

🔁Levi Strauss aims to pivot to a DDC-first strategy and develop a leaner, more agile operating structure.

🚀The company plans to enhance its product offerings, including performance apparel and expanding into non-denim categories.

💼As part of the restructuring plan, Levi Strauss will lay off 10 to 15% of its global corporate workforce.

What were Levi Strauss's Q4 revenues?

—Levi Strauss reported Q4 revenues growth of 2%.

What is the company's restructuring plan?

—Levi Strauss plans to lay off 10 to 15% of its global corporate workforce and pivot to a DDC-first strategy.

What are Levi Strauss's key goals for the future?

—Levi Strauss aims to develop a leaner and more agile operating structure, enhance its product offerings, and expand into non-denim categories.

How did Levi Strauss perform in its direct-to-consumer business?

—Levi Strauss reported a 9% increase in its direct-to-consumer business in Q4.

What is the company's outlook for 2024?

—Levi Strauss has a strong pipeline of products and a cautious outlook for 2024.

00:00Levi Strauss saw a return to growth in America in Q4, with revenues up 2%.

01:05Levi Strauss's direct-to-consumer business saw a 9% increase in Q4.

02:12Levi Strauss plans to lay off 10 to 15% of its global corporate workforce as part of a restructuring plan.

04:39Levi Strauss aims to pivot to a DDC-first strategy and develop a leaner, more agile operating structure.

06:03Levi Strauss is focusing on expanding its product offerings, including performance apparel and non-denim categories.

08:12Levi Strauss reported its highest-ever revenue at $5.4 billion in 2023.