Levi's stock rose 6% following a strong earnings report, which revealed a 6% revenue increase to $1.4 billion. European sales particularly thrived, showing a 14% rise. Despite this success, the company projects a potential $25 to $30 million profit hit due to tariffs imposed by the U.S. government. CEO Michelle Gass noted that their international business base mitigates tariff impacts effectively, as only a minimal portion is reliant on Chinese suppliers. Manufacturing is diversified across 28 countries, enhancing resilience against tariffs and fluctuating trade policies.
Levi Strauss reported a 6% increase in net revenues in the latest quarter, with sales of $1.4 billion, especially boosted by a 14% rise in Europe.
The company anticipates a profit hit of $25 to $30 million this year due to tariffs, although CEO Michelle Gass maintains a strong competitive positioning.
Gass emphasized that 60% of Levi's business is international, minimizing exposure to China and allowing for effective tariff mitigation strategies.
Levi's has manufacturers in 28 countries, and 20 supply products to the US, showcasing a diversified supply chain.
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