Levi Strauss & Co. Reports Q2 Fiscal 2024 Sales Growth of 9% and Strong DTC Performance

San Francisco, California United States of America
CEO Michelle Gass expressed confidence in achieving profitable growth for the remainder of the year.
DTC sales increased by 11% on constant-currency basis with U.S market growth of 12% and Europe growth of 7%.
Levi Strauss & Co. reported Q2 Fiscal 2024 sales growth of 9% on constant-currency basis.
Net revenues reached $1.4 billion, an increase of 8% on reported basis.
Website traffic grew to 32.55 million visits from previous year's 25.38 million.
Levi Strauss & Co. Reports Q2 Fiscal 2024 Sales Growth of 9% and Strong DTC Performance

Levi Strauss & Co., a global apparel company renowned for its iconic denim jeans and casual clothing, reported its Q2 Fiscal 2024 financial results on June 26, 20XX. The company's net revenues reached $1.4 billion, representing an increase of 8% on a reported basis and a growth of 9% on a constant-currency basis compared to the same period last year.

Direct-to-consumer (DTC) sales were also strong, with net revenues increasing by 8% on a reported basis and 11% on a constant-currency basis. The U.S. market experienced growth of 12%, while Europe saw an increase of 7%. Michelle Gass, the company's president and CEO, expressed confidence in achieving accelerated, profitable growth for the remainder of the year due to Levi Strauss & Co.'s transformational pivot to operating as a DTC-first company.

Despite these positive results, investors were initially disappointed with Levi Strauss & Co.'s Q2 earnings report. The company attributed the sales miss to unfavorable foreign exchange conditions and weak sales at Docker. However, the company reported better-than-expected earnings per share of $0.16 and raised its dividend by 8% to 13 cents per share.

Website traffic for Levi Strauss & Co. also showed strong growth during Q2, with total visits reaching 32.55 million from the previous year's 25.38 million, indicating robust demand for the company's products and supporting top-line growth.

Levi Strauss & Co.'s Q2 Fiscal 2024 earnings report highlights its continued success in adapting to changing consumer preferences and market conditions while maintaining a strong focus on its core denim brand.


Article Image
Article Image
Article Image
Article Image
Article Image
Article Image
Article Image
Article Image
Article Image
Article Image

Confidence

96%

Doubts
  • Could unfavorable foreign exchange conditions have had a larger impact on sales than reported?
  • Was the weak sales at Docker an isolated incident or part of a larger trend?

Sources

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Levi's shares drop 12% as jeans maker's sales disappoint despite denim craze

CNBC News Gabrielle Fonrouge Wednesday, 26 June 2024 20:15
  • Unique Points
    • The company attributed the sales miss to unfavorable foreign exchange conditions and weak sales at Docker’s.
  • Accuracy
    • ]The sales rose to $1.44 billion, up about 8% from the previous year.[
    • Sales rose to $1.44 billion, up about 8% from the previous year.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    The article contains some instances of inflammatory rhetoric and an appeal to authority, but no formal or blatant logical fallacies were found. The author uses phrases like 'denim is having a moment', 'people are generally cautious', and 'it's not necessarily an environment where people are buying a lot' to create a sense of urgency or importance around the topic, which can be considered inflammatory rhetoric. However, these statements do not directly affect the validity of any arguments made in the article. The author also quotes Harmit Singh, CFO of Levi Strauss & Co., stating that 'People are generally cautious.' This is an appeal to authority as Singh's statement is being used to support a claim about consumer behavior without providing any evidence or reasoning beyond Singh's position.
    • ]People are generally cautious[
    • It's not necessarily an environment where people are buying a lot, people are cautious.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

95%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Levi's stock tumbles on disappointing Q2 revenue

Yahoo Finance Julie Hyman Wednesday, 26 June 2024 23:12
  • Unique Points
    • Revenue increased 8% YoY in the Americas and 17% in the Americas region.
    • European revenue declined by 2% and Asian revenue was similar to last year’s level.
  • Accuracy
    • ]The net revenue was $1.44 billion, slightly below the estimated $1.45 billion.[
    • European revenue declined by 2% and Asian revenue was similar to last year's level.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (85%)
    The article contains an appeal to authority and a potential false dilemma. The appeal to authority is present when the author states that 'the pivot is yielding what she calls positive results around the world' referring to the CEO's actions. This puts undue weight on the CEO's opinion without critically evaluating it. The potential false dilemma can be seen in the statement 'But clearly investors, at least initially here... disappointed. No. Uh definitely it seems that way, doesn't it?' This might lead readers to believe there are only two options: either the company is performing well overall or investors are disappointed, ignoring the possibility of a more nuanced situation.
    • ] Levi Strauss & Co. (LEVI) posted second quarter adjusted earnings per share of $0.16, topping Wall Street estimates of $0.11.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Levi Strauss (LEVI) Q2 Earnings Preview: Here’s What to Expect

TipRanks Financial News Platform Radhika Saraogi Wednesday, 26 June 2024 23:12
  • Unique Points
    • Levi Strauss (LEVI) is scheduled to release Q2 Fiscal 2024 results on June 26, after market closes.
    • Company’s website traffic increased by 28.29% year-over-year in Q2, with total visits reaching 32.55 million from 25.38 million in the previous year.
    • Three Wall Street analysts raised their price targets ahead of Q2 results, with upside potential ranging from 10.5% to 20.6%.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Top Takeaways From Our Second Quarter 2024 Earnings

www.levistrauss.com Unzipped Staff Wednesday, 26 June 2024 20:29
  • Unique Points
    • Levi Strauss & Co. reported net revenues of $1.4 billion for Q2 2024, an 8% increase on a reported basis and a 9% increase on a constant-currency basis compared to Q2 2023.
    • Direct-to-consumer (DTC) net revenues increased by 8% on a reported basis and 11% on a constant-currency basis.
    • U.S. DTC growth was up 12% and European DTC growth was up 7%.
    • Michelle Gass, president and CEO of Levi Strauss & Co., expressed confidence in achieving accelerated, profitable growth for the rest of the year and beyond due to the company’s transformational pivot to operating as a DTC-first company.
  • Accuracy
    • ]The net revenues of $1.4 billion for Q2 2024[
    • An 8% increase on a reported basis and a 9% increase on a constant-currency basis compared to Q2 2023.
    • Sales rose to $1.44 billion, up about 8% from the previous year.
    • Net revenue was $1.44 billion, slightly below the estimated $1.45 billion.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication