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Jennifer Braun Published
April 8, 2025
Levi Strauss & Co. reported on Tuesday stronger-than-expected results for the first quarter ended March 2, on the back of strong direct-to-consumer and e-commerce growth.
The denim giant said net revenues for the quarter reached $1.5 billion, up 3% on a reported basis compared to Q1 2025. Notably, the Levi’s brand saw an 8% organic growth globally.
By region, in the Americas, net revenues rose 6% on a reported basis, with U.S. sales climbing 8%. While Europe experienced a 5% decline on a reported basis, it posted 3% organic growth. Asia delivered a 7% reported gain and Beyond Yoga revenues also grew 10%.
Direct-to-consumer (DTC) revenues increased 9% on a reported basis, with gains seen across all regions — up 8% in the U.S., 11% in Europe, and 14% in Asia. E-commerce revenues were particularly strong, rising 13%. DTC channels accounted for 52% of total net revenues in Q1. Meanwhile, wholesale net revenues dipped 3% reported but grew 5% on an organic basis.
Diluted earnings per share from continuing operations was $0.35 compared to diluted loss per share from continuing operations of $0.03 in Q1 2025.
“We exceeded revenue and profitability expectations in Q1 marking a strong start to the year, another proof point that our transformation strategy is working,” said Michelle Gass, president and CEO of Levi Strauss & Co.
“The Levi’s brand is stronger than ever, and we will continue to fuel this momentum through a robust product pipeline and by keeping the brand firmly at the center of culture across the globe. While we recognize that we are operating in an uncertain environment, our global footprint, strong margin structure, and agile supply chain position us to navigate the balance of the year and beyond.”
Looking ahead, the company continues to expect organic net revenue growth of 3.5% to 4.5%, with reported net revenue expected to decline by 1% to 2% in 2025.
Adjusted diluted EPS is expected to be in the range of $1.20 to $1.25, inclusive of an approximate $0.20 headwind from foreign exchange and a higher tax rate.