October 10, 2018
We announced our third quarter financial results on Tuesday with a fourth consecutive quarter of double-digit revenue growth.
Our revenue grew 11 percent in constant currency this quarter, driven by growth across our diverse portfolio.
“This growth was broad-based across virtually every part of our business, including all four brands, men’s, women’s, tops and bottoms, and all regions and channels, with results that put us among the top performers in the industry,” said Chip Bergh, president and chief executive officer, Levi Strauss & Co.
Here are a few key takeaways from our results (all numbers are in constant currency):
- The Levi’s® brand delivered 12 percent growth this quarter. The brand stayed firmly at the center of culture with a limited-edition customization studio in Los Angeles using the laser-powered technology of Project F.L.X., the launch of a second Levi’s® x Air Jordan collaboration that sold out in minutes, and a Levi’s® Made & Crafted® collection with celebrity and model Lily Aldridge.
- We are truly a global business, and demonstrated that with growth in all three regions and in key markets: Revenues were up 9 percent in the Americas, 17 percent in Europe and 10 percent in Asia. Our strategies are paying off in China, with 12 percent growth in both direct-to-consumer and franchise.
- Our core is strong, but we’re also busy expanding for more. Our women’s business grew 26 percent this quarter – the 13th consecutive quarter of growth – and our total tops business grew 38 percent, driven by the huge demand for our graphic tees.
- Our wholesale business continues to perform well, showing 10 percent growth overall and an impressive 6 percent growth in the challenging U.S. market. And our direct-to-consumer business continues to shine, with 65 new stores opened in the last year that helped drive 15 percent growth this quarter.
- We achieved all this while leading with our values. Just this quarter, we announced our 2025 Climate Action Strategy, the next step in our longstanding commitment to addressing global climate change, announced our increased support for gun violence prevention, and launched a comprehensive campaign to encourage voter turnout.