Record-Breaking Quarter for Levi Strauss

Levi Strauss and Co. has announced an impressive 12% increase in net revenue for the fourth quarter of fiscal 2024, reaching $1.8 billion compared to the same period in 2023. The company also reported a significant 44% rise in net income to $183 million, with diluted earnings per share climbing to $0.46 from $0.32.

Annual Financial Highlights

Over the fiscal year, Levi Strauss achieved a 3% increase in revenue, totaling $6.4 million. Despite a 16% decrease in net income to $211 million and a drop in diluted earnings per share to $0.52 from the previous year's $0.62, the company managed to return $289 million to its shareholders, marking a 45% increase over the prior year.

Leadership's Perspective

"The fourth quarter showcased our company's strength with an 8% organic revenue growth, enhanced DTC profitability, robust cash flow generation, and better-than-expected bottom-line results," stated Chief Financial Officer Harmit Singh. Following the announcement, the company's shares experienced a 4.09% decline, settling at $17.35 each.