Jeans giant Levi’s is pushing back its sales targets

Despite a relative bounce-back from the pandemic, revenues at Levi's have since stagnated at ~$6 billion. And profits have tumbled: net income fell 56% to $250 million for the year to Nov 2023, continuing a long history of meagre sales growth.

Still the biggest name in the denim game, Levi’s has had to weather stiff competition in recent decades. This has squeezed its profit margin, which fell to a tight ~6% last year. Nonetheless, the success of the company’s direct-to-consumer segment will see hundreds more Levi’s stores open in the next few years in a bid to get back to growth.

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