Levi Strauss Delivers Strong FY25 Results
Levi Strauss & Co., reported steady performance for the fourth quarter and strong growth for the full fiscal year ended November 30, 2025, reflecting the company’s continued shift towards a direct-to-consumer (DTC)-led, denim lifestyle strategy.
Net revenues for Q4 stood at US$ 1.8 billion, up 5% on an organic basis, driven by growth across Europe, Asia and the DTC channel. DTC revenues rose 10% organically, with e-commerce growing 22%, and now accounted for 49% of total quarterly revenues. Beyond Yoga posted robust growth of 45% organically during the quarter.
Operating margin remained stable at 11.9%, while adjusted EBIT margin stood at 12.1%, impacted by tariff pressures and the lapping of a 53rd week. Net income from continuing operations for Q4 was US$ 160 million, with adjusted diluted EPS at US$ 0.41.
For the full year FY25, Levi Strauss reported $6.3 billion in net revenues, up 7% organically, supported by strong brand momentum and improved execution. Gross margin expanded by 110 basis points to 61.7%, while operating margin improved significantly to 10.8%. Net income from continuing operations rose to US$ 502 million, more than doubling from the previous year, with adjusted diluted EPS increasing to US$ 1.34.
Commenting on the results, Michelle Gass, President and CEO, said the company is emerging as a stronger and more agile business following its strategic focus on DTC and lifestyle expansion. Harmit Singh, Chief Financial and Growth Officer, added that disciplined margin expansion and consistent growth position the company well for long-term profitability.
During FY25, Levi Strauss returned US$ 363 million to shareholders through dividends and share buybacks and announced plans for a new US$ 200 million accelerated share repurchase programme. The company ended the year with US$ 758 million in cash and total liquidity of approximately US$ 1.7 billion.
