---
schema_version: "secwatch.filing_event.v1"
accession: "0000094845-23-000053"
form_type: "8-K"
ticker: "LEVI"
cik: "0000094845"
company_name: "LEVI STRAUSS & CO"
filed_at: "2023-10-05T23:59:59+00:00"
generated_at: "2026-06-10T04:29:49.516139+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000094845-23-000053
- form_type: 8-K
- ticker: LEVI
- cik: 0000094845
- company_name: LEVI STRAUSS & CO
- filed_at: 2023-10-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/94845/000009484523000053/0000094845-23-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/94845/000009484523000053/levi-20231005.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000094845-23-000053
- JSON: https://secwatch.observer/filing/0000094845-23-000053.json
- Plain text: https://secwatch.observer/filing/0000094845-23-000053.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/94845/000009484523000053/0000094845-23-000053-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.