{"schema_version":"secwatch.filing_event.v1","accession":"0000094845-23-000026","form_type":"8-K","ticker":"LEVI","cik":"0000094845","company_name":"LEVI STRAUSS & CO","filed_at":"2023-04-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.967692+00:00","generated_at":"2026-06-17T05:35:53.424894+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Levi Strauss Q1 revenue up 6% to $1.7B, but EPS falls to $0.29 from $0.48; reaffirms FY guidance","bullets":["Net revenues $1.7B, up 6% reported (9% constant currency); DTC up 12%, wholesale up 2%.","Diluted EPS $0.29 (adjusted $0.34) vs $0.48 last year; net income $115M vs $196M, down 41%.","Gross margin 55.8%, down 360 bps from 59.4% due to lower full-price sales and higher product costs.","Inventories up 33% YoY but improved 25 points sequentially; dividend raised 20% to $0.12/share.","Company reaffirms FY2023 revenue and EPS guidance despite cautious macro outlook."],"urls":{"canonical":"https://secwatch.observer/filing/0000094845-23-000026","json":"https://secwatch.observer/filing/0000094845-23-000026.json","markdown":"https://secwatch.observer/filing/0000094845-23-000026.md","text":"https://secwatch.observer/filing/0000094845-23-000026.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/94845/000009484523000026/0000094845-23-000026-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/94845/000009484523000026/levi-20230406.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T05:35:53.424894+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3268bf528efddf2f52758b53933433e88d7ef447","claim":"LEVI STRAUSS & CO reported the first quarter ended February 26, 2023 results: revenue $1.7 billion, net income $115 million, EPS $0.29. Guidance reaffirmed.","evidence_excerpt":"Financial Highlights for the First-Quarter • Reported net revenues of $1.7 billion increased 6%, and 9% on a constant-currency basis versus Q1 2022, reflecting strong growth in the Direct-to-Consumer (DTC) channel, up 12%. Total DTC comprised 42% of first quarter net revenues. Net revenues related to the shift in wholesale shipments from Q2 to Q1 primarily due to the U.S. ERP implementation benefited Q1 by approximately $100 million or 6% of net revenues. • Gross margin was 55.8%; Adjusted gross margin was 55.8%, 360 basis points below the record level of 59.4% in Q1 2022 • Operating margin was 9.3% ; Adjusted EBIT margin was 11.0% , down from 14.9% in Q1 2022 • Net income was $115 million; Adjusted net income was $135 million , compared to $189 million in Q1 2022 • Diluted EPS was $0.29; Adjusted diluted EPS was $0.34, including an adverse currency exchange impact of $0.01 • Total inventories increased 33% on a dollar basis over prior year, representing 25 points of sequential improve","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/94845/000009484523000026/0000094845-23-000026-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended February 26, 2023"},{"label":"Revenue","value":"$1.7 billion"},{"label":"Net income","value":"$115 million"},{"label":"EPS","value":"$0.29"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}