Levi Strauss cuts straight through logistics challenges, hikes prices

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Levi Strauss reported FQ1’22 (to Feb. 28) revenues which fell by 13.3% year over year due to pandemic-related store closures. Analysts had expected revenues to drop by 17.3% while Panjiva’s data shows U.S. seaborne imports linked to the firm declined by 6.9% over the same period. The firm may be expecting a return to growth with shipments up by 17.8% year over year in March. Levi Strauss’s CFO, Harmit Singh, has noted the firm is “seeing inflationary pressures” but also that it has locked in its costs for this year and “we’ll offset any inflation we see in ’22 with pricing”. Other denim ...

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