LEVI STRAUSS & CO.: Strong 3rd quarter 2025 with sales, margins and eps above guidance
“We delivered another very strong quarter as our pivot to becoming a DTC-first, head-to-toe denim lifestyle retailer is driving a meaningful inflection in our financial performance,” said Michelle Gass, President and CEO of Levi Strauss & Co. “With strength across channels, segments and categories, we are raising our full-year outlook and are well-positioned for the holiday season. While the macro environment remains complex, the consistency of our performance and operational agility gives me confidence that we will deliver sustained, profitable growth into 2026 and beyond.”
“Our Q3 results demonstrate the power of our strategic transformation, with strong financial performance exceeding expectations across all key metrics including sales, gross margin, adjusted EBIT margin and adjusted diluted EPS,” said Harmit Singh, Chief Financial and Growth Officer of Levi Strauss & Co. “With four consecutive quarters of high-single-digit growth and record gross margins driven by our focus on profitability across the organization, we are raising our full-year revenue and adjusted diluted EPS expectations. We have built strong momentum that positions us well to continue delivering strong shareholder value next year and in the years to come.”
Financial Highlights
- Net Revenues of $1.5 billion were up 7% on a reported and organic basis versus Q3 2024:
- In the Americas, net revenues increased 6% on a reported basis and 7% on an organic basis. Within the Americas, the U.S. grew 3% on an organic basis.
- In Europe, net revenues increased 5% on a reported basis and 3% on an organic basis.
- In Asia, net revenues increased 12% on a reported basis and organic basis.
- Beyond Yoga® net revenues increased 2% on a reported and organic basis.
- DTC (Direct-to-Consumer) net revenues increased 11% on a reported basis and 9% on an organic basis. DTC growth on an organic basis reflected a 7% increase in the U.S., a 4% increase in Europe and a 14% increase in Asia. Net revenues from e-commerce grew 18% on a reported basis and 16% on an organic basis. DTC comprised 46% of total net revenues in the third quarter.
- Wholesale net revenues increased 3% on a reported basis and 5% on an organic basis.
Levi Strauss & Co.