In its first report since coming public, Levi Strauss & Co. (NYSE: LEVI) posted its fiscal first-quarter financial results. Overall, the results were fairly positive, setting the tone for the company going forward.
Keep in mind that most analysts are stuck in the post-IPO quiet period, so there were no real reliable consensus estimates going into this report.
The denim jeans maker posted $0.37 in earnings per share (EPS) and $1.44 billion in revenue, which compares with a net loss of $0.05 per share and $1.34 billion in revenue in the same period of last year.
First-quarter net revenues grew 7% on a reported basis and 11% on a constant-currency basis, excluding $48 million in unfavorable currency translation effects. 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.
In terms of its regional segments, the company reported as follows:
- Americas net revenues increased 9% year over year to $717 million.
- Europe net revenues increased 3% to $465 million.
- Asia net revenues increased 8% to $253 million.
Looking ahead to the fiscal full year, Levi Strauss expects to see constant-currency net revenues growth of mid-single digits and constant-currency adjusted EBIT margin flat to slightly up.
Chip Bergh, president and chief executive of Levi Strauss, commented:
We delivered our sixth consecutive quarter of double-digit constant-currency revenue growth. Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off.
Shares of Levi Strauss were last seen up about 5% at $22.98, in a post-IPO range of $21.24 to $24.19.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
