Levi’s to opening 100 extra stores this year
In this article (5)
San Francisco-based retailer Levi Strauss announced plans to open 100 new company-operated stores this year.
The apparel maker, which launched on the US stock market last month, announced its plans for the store openings alongside a well-received debut batch of earnings as a public company.
Company chief executive Chip Bergh told that most of the store openings would be in Europe and Asia, though mainline and outlet stores would open in the US as well.
Levi’s posted a 7 per cent jump in net revenue to US$1.43 billion for the quarter ending February 24. The company produced a net income of US$147 million compared with the losses of US$19 million a year ago, when the results were hit with a tax-related charge.
“We delivered our sixth consecutive quarter of double-digit constant-currency revenue growth,” Bergh said.
“Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off.”
The 166-year-old brand operates 824 standalone stores, including 74 the retailer opened last year.
Questions & Answers
Q.Which regions will see the majority of Levi's new store openings this year?
Which regions will see the majority of Levi's new store openings this year?
Most of the new store openings are planned for Europe and Asia. However, the company will also open new mainline and outlet stores within the United States.
Q.How much revenue did Levi's generate in its most recent financial quarter?
How much revenue did Levi's generate in its most recent financial quarter?
For the quarter ending February 24, Levi's reported a net revenue of US$1.43 billion, which represents a 7 per cent increase from the previous period.
Q.What was Levi's net income for the last reported quarter?
What was Levi's net income for the last reported quarter?
Levi's achieved a net income of US$147 million for the recent quarter. This is a significant improvement compared to a net loss of US$19 million in the same period a year ago.
Q.How many standalone stores does Levi's currently operate worldwide?
How many standalone stores does Levi's currently operate worldwide?
The company currently operates a total of 824 standalone stores. This figure includes 74 stores that Levi's opened during the previous year.
Reader pulse
Is Levi's expansion strategy:
19,408 votes so far