Levi Strauss & Co. (LEVI) Earnings Call Transcripts

Levi Strauss & Co.'s Latest Earnings Call - April 9, 2026

Levi Strauss & Co. reported strong results for Q1 FY2026, with a 9% organic growth and 14% reported growth, surpassing the prior year's 7% growth. Revenue was driven by a 10% increase in direct-to-consumer (DTC) sales and an 8% rise in wholesale. Earnings per share (EPS) guidance was raised, reflecting confidence in continued growth and potential tariff benefits. Management highlighted the success of their DTC strategy, which now accounts for half of the business, and the expansion into new product categories and geographies.

Reported metrics

Guidance from management

Levi's raised its full-year EPS guidance, citing strong Q1 performance and potential tariff benefits worth $0.07 per share. Revenue growth is expected to be mid-single digits, with significant contributions from Asia and women's apparel.

What management said

Sure. I think the best way to think of capital allocation is 3.5% to 4% spending that on CapEx. 2/3 of that to grow the company, open new doors e-commerce, some AI investments and about 1/3 in what I call infrastructure maintenance. So that's your pace dividend-paying company. We increased dividends probably 8%, 10%, in line with net income. -- that continues for a while. And then buybacks talk to offset dilution. An...

And the only thing I'd say is accessibility to the drugs globally is happening -- has happened recently at a lower price point. And so that's upside. -- if it happens, is about. So it's difficult to build into model, but it's a great question. .

What analysts pressed on

Analysts questioned the impact of societal trends like weight loss drugs on denim sales, but management did not see a definitive impact. There were also inquiries about AI implementation and its cost implications, which management addressed by highlighting efficiency gains.

Main topics on the call

• DTC Strategy Success — Levi's DTC business grew by 10% in the quarter, now representing half of the company's total sales. Management emphasized the importance of this channel, stating, 'DTC is now half our business for the year.'
• Geographic Expansion — Levi's saw significant growth in Asia, with China growing 8% and other Asian markets also performing well. Management noted, 'Asia continues to be underpenetrated for us,' highlighting future growth potential.
• SKU Rationalization — The company reduced SKUs by 25%, leading to better vendor negotiations and lower markdowns. Harmit Singh stated, 'We have reduced these SKUs, probably 25% around the world, that has led to better negotiation with the ven...
• Premium Denim Expansion — Levi's is expanding into the premium denim market with its Blue Tab line, targeting a $10 billion addressable market. Michelle Gass mentioned, 'We are less than 1% share... that's a sizable incremental opportunity.'

Read the full Levi Strauss & Co. transcript (April 9, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 39 Levi Strauss & Co. earnings call transcripts on record, spanning January 30, 2020 to July 8, 2026. Based on this history, Levi Strauss & Co. reports quarterly. The most recent call on file is dated July 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

LEVI

Exchange

NYSE

Country

US

Sector

Consumer Discretionary

Industry

Textiles, Apparel and Luxury Goods

Calls on record

39

First call

January 30, 2020

Most recent

July 8, 2026

Reporting cadence

quarterly