Levi Strauss Q3 adj. EPS $0.28 vs $0.40, revenue flat, FY guidance cut to low end of $1.10-$1.20

LEVI STRAUSS & CO

2023-Q3 EPS reported $0.31 revenue$4,536,700,000

Net revenue $1.5B flat YoY; GAAP EPS $0.02 (down from $0.43) includes $0.17 impairment charge from Beyond Yoga.
DTC revenue up 14% (constant-currency +13%), wholesale down 8% (-10% constant-currency), DTC now 40% of total.
Gross margin 55.6% down 130 bps from 56.9%; adjusted SG&A up to $702M vs $675M on DTC expansion.
Operating margin 2.3% vs 13.1% due to $90.2M impairment and higher SG&A; adjusted EBIT margin 9.1% vs 12.4%.
Initiating review of operating model and cost structure for material savings starting 2024; FY adj. diluted EPS expected at low end of $1.10-$1.20 range.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LEVI STRAUSS & CO reported the third quarter ended August 27, 2023 results: revenue $1.5 billion, net income $10. Guidance lowered.

Period: the third quarter ended August 27, 2023
Revenue: $1.5 billion
Net income: $10
Guidance: lowered
Result: reported results

Exact text from the filing

an initiative to review our operating model and cost structure that should drive agility and material cost savings beginning in 2024.” Financial Highlights • Net Revenues of $1.5 billion were consistent with the prior year on a reported basis and 2% lower on a constant-currency basis versus Q3 2022. • DTC (Direct to Consumer) net revenues increased 14% on a

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Source: SEC EDGAR

accession 0000094845-23-000053

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