But CEO Chip Bergh told WWD that the brand is strong and that the anniversary push on the 501 is gaining traction.
The Levi’s red tag.Revenues for the three months ended Feb. 26 rose 6 percent to $1.7 billion, with the increase coming from a $100 million benefit from a planning shift that moved wholesale shipments into the first quarter from the second. Wholesale revenues increased 2 percent.
The d-to-c channel saw a 16 percent boost in constant currencies as revenues in the Americas increased 7 percent, Europe inched up 2 percent and Asia gained 22 percent. “I always say, when your most iconic item is cranking — and the 501 is cranking right now — it’s a really good sign for the strength of the brand,” Bergh said.
“As we think about where this company is headed, it is going to be more [d-to-c] driven and [d-to-c] driven means that we can connect to the consumer directly, sell more lifestyle offerings directly, and it’s high gross margin,” Singh said. Likewise, the CFO noted that 75 percent of the apparel market is outside of the U.S., while Levi’s international business accounted for 56 percent of total revenues and saw an 11 percent increase in constant currencies during the quarter.
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