Levi Strauss Q4 revenue up 3%, adj EPS $0.44, announces workforce reduction and Project FUEL restructuring

LEVI STRAUSS & CO

2023-FY EPS reported $0.62 revenue$6,179,000,000

Q4 net revenues $1.64B (+3% YoY); DTC up 11%, e-commerce up 17% constant-currency.
Q4 adj diluted EPS $0.44, up 29% from $0.34; gross margin expanded 200 bps to 57.8%.
FY 2023 net revenues $6.2B flat YoY; adj diluted EPS $1.10 vs $1.50; inventory down 17%.
Project FUEL: 10%-15% reduction of global corporate workforce; expects $100M net savings in FY 2024.
Q1 2024 restructuring charges estimated $110-$120M; initiative spans two years.

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 fourth quarter and fiscal year ended November 26, 2023 results: revenue $1.6 billion, EPS $0.32. Guidance initiated.

Period: fourth quarter and fiscal year ended November 26, 2023
Revenue: $1.6 billion
EPS: $0.32
Guidance: initiated
Result: reported results

Exact text from the filing

and by our global productivity initiative, which gives us clear line of sight to significant annual cost savings.” Financial Highlights for the Fourth-Quarter • Net Revenues of $1.6 billion increased 3% on a reported basis and 2% on a constant-currency basis versus Q4 2022. • DTC (Direct to Consumer) net revenues increased 11% on a reported basis and 10% on a

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Source: SEC EDGAR

accession 0000094845-24-000011

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