Levi Strauss Grew Direct-To-Consumer Sales 15% in 2017

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Levi Strauss & Co. said its direct-to-consumer sales grew 20% in the fourth quarter and 15% for fiscal 2017, based on performance and expansion of the company’s retail network and its ecommerce growth.

Net revenue was up 13% in the quarter to $1.46 billion and grew 8% for the year to $4.9 billion. Despite the headwinds in brick and mortar, Levi Strauss opened 53 more company-owned stores in 2017 than it did in 2016.

Wholesale revenue grew 10% for the quarter, reflecting growth in the Americas and Europe and was up 5% for the year, primarily due to strength in Europe.

“Our growth and momentum accelerated in Q4 capping the strongest revenue year the company has had in more than a decade,” said Chip Bergh, President and CEO of Levi Strauss in a release. “Our strategies are working and the investments that we’ve made to diversify our business over the past few years are paying off, best demonstrated by the strength of the Levi’s brand globally.”

You can read the full financial details here.

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