- Revenue: $1.84B, +12% YoY
- Net income: $183M, +44% YoY
- Gross margin: 61.3%, +350 bps YoY (company record)
- Diluted EPS: $0.46 vs $0.32 in Q4 2023
CEO Michelle Gass: "We delivered a strong fourth quarter and holiday season, positioning us well as we enter 2025. Our sharpened focus on the core Levi's® brand is working, with broad-based strength across women's, men's, DTC and wholesale."
CFO Harmit Singh: "The strong demand trends, improving execution and the organization's focus on the Levi's® brand gives me confidence in the guidance we are providing today which calls for higher organic revenue growth in 2025."
🌱Revenue & Growth
- Americas: $995M, +12% YoY (+9% organic)
- Europe: $434M, +15% YoY (+6% organic)
- Asia: $286M, +9% YoY (both reported and organic)
- DTC: +19% YoY (+14% organic), comprising 45% of total organic revenue
- E-commerce: +19% YoY (+14% organic)
- Wholesale: +7% YoY (+3% organic)
💰Profits & Financials
- Operating margin: 11.5% vs 9.2% in Q4 2023
- Adjusted EBIT margin: 13.4% vs 12.2% in Q4 2023
- Adjusted EPS: $0.50 vs $0.44 in Q4 2023
- Cash and equivalents: $690M
- Total inventories: -4% YoY
📌Business Highlights
- Returned $51M to shareholders via dividends ($0.13/share, +8% YoY)
- Share repurchases: $30M (1.6M shares retired)
- Marketing campaign with Beyoncé continues
🔮Future Outlook
- FY2025 organic revenue growth: +3.5% to +4.5%
- FY2025 reported revenue: -1% to -2%
- FY2025 Adjusted EBIT margin: 10.9% to 11.1%
- FY2025 Adjusted EPS guidance: $1.20-$1.25 (includes ~$0.20 FX headwind)