Levi Strauss Reports First Earnings Release Since Going Public

Levi Strauss & Co. reported it first earnings report since it’s IPO in March.

The company reported earnings of 37 cents and revenue of $1.44 billion for the first quarter. This is in comparison to a loss of $19 million or 5 cents a share, a year ago. The year ago period included a tax-related charge. Revenue was also a growth of 7%% compared to the year ago quarter.

“Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off,” remarked Chip Bergh, its president and CEO.

Looking ahead, the company expects revenue for the full year to see a growth by a mid single digit percentage rate.

CEO Bergh also said, “We’re entering this new chapter with a business that is stronger and more diversified than it’s been in decades, as a result of our iconic brands, our people, great execution, and commitment to our longstanding approach to profits through principles. The strong results we delivered this quarter demonstrate that the strategic choices that we put in place seven years ago to drive the profitable core expand for more, become a world-class omni-channel retailer, and achieve operational excellence continue to pay off with broad-based growth balanced across a more diversified portfolio.”

It was last month that the company began trading on the NYSE at $22.22 a share and saw gains of over 30% on its first day.

The stock is up more than 25 percent since it began trading.

Disclaimer: We have no position in Levi Strauss & Co. (NYSE: LEVI) and have not been compensated for this article.