LEVI - Levi Strauss Non-GAAP EPS of $0.34 beats by $0.01 revenue of $1.69B beats by $80M

2023-04-06 07:55:14 ET

• Levi Strauss press release ( NYSE: LEVI ): Q1 Non-GAAP EPS of $0.34 beats by $0.01 .
• Revenue of $1.69B (+6.3% Y/Y) beats by $80M .
• Growth of 6% reflects strong growth in the Direct-to-Consumer ( DTC ) channel, up 12%. Total DTC comprised 42% of first quarter net revenues.
• Total inventories increased 33% on a dollar basis over prior year, representing 25 points of sequential improvement relative to Q4 2022

• The company reaffirms expectations for fiscal 2023 as follows:

  • Net revenues between $6.3 billion and $6.4 billion, reflecting reported revenue growth of 1.5% to 3% year-over-year.
  • Adjusted diluted EPS of $1.30 to $1.40.

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