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Levi Strauss & Co. (NYSE: LEVI) introduced outcomes for the primary quarter of 2024, reporting a lower in revenues and decrease adjusted revenue.
The attire firm reported a internet lack of $10.6 million or $0.03 per share for the primary quarter, in comparison with a revenue of $114.7 million or $0.29 per share within the prior 12 months interval. On an adjusted foundation, it was earnings of $0.26 per share in Q1, in comparison with $0.34 per share within the corresponding interval of 2023.
The corporate posted internet revenues of $1.56 billion for the February quarter, down 8% from $1.69 billion reported within the prior-year quarter. In the meantime, direct-to-consumer internet income elevated 7%.
“The momentum in our world DTC enterprise continues, with DTC up in all segments. Our efforts to stabilize our wholesale enterprise are delivering outcomes. We’re on our solution to remodeling this firm right into a best-in-class DTC first attire retailer, setting the stage for our subsequent section of sustainable worthwhile progress,” stated Levi’s CEO Michelle Gass.
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