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Tuesday, April 9, 2019

=Levi Strauss (LEVI) reported earnings on Tue 9 Apr 2019 (a/h)

Levi Strauss reports Q1 Adj. Net Income of $151 mln (no estimates), ahead of guidance provided in IPO prospectus, and revenue of $1.435 billion
  • Co reports Q1 Adj. Net Income of $151 million, ahead of the $136-$149 million guidance it provided in its IPO prospectus. Reports revenue of $1.435 billion, up 7% y/y, at the high end of the $1.42-$1.435 billion guidance provided.
  • Reported net revenues related to the company's direct-to-consumer business grew 10%, primarily due to performance and expansion of the retail network as well as e-commerce growth. The company had 70 more company-operated stores at the end of the first quarter of 2019 than it did a year prior. Reported net revenues related to the company's wholesale business grew 5%, reflecting growth in all regions.
  • Outlook: for FY19, LEVI expects constant-currency net revenue growth of mid-single digits, and, constant currency Adj. EBIT margin flat to slightly up.

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