earnings
confidence high
sentiment negative
materiality 0.75
Levi Strauss Q2 net revenues fall 9% to $1.34B; FY adjusted EPS guidance cut to $1.10-$1.20
LEVI STRAUSS & CO
2023-Q2 EPS reported
$0.28
revenue$3,025,700,000
- Net revenues of $1.34B, down 9% YoY; net loss of $2M vs $50M net income in Q2 2022.
- Adjusted diluted EPS of $0.04 vs $0.29 a year ago; FY adjusted EPS guidance lowered to $1.10-$1.20 from $1.30-$1.40.
- DTC net revenues up 13% (e-commerce +20%); wholesale down 22% as U.S. wholesale remains pressured.
- Americas revenues down 22%; Asia up 18% (27% constant currency); Europe down 2%.
- Inventory improved 15 points vs Q1; expected below prior year by year-end; free cash flow trends positive.