Levi Strauss & Co saw an 8 per cent drop in net revenues to $1.6 billion in Q1 FY24, with declines across all regions except Asia, which grew 5 per cent on a constant-currency basis.
DTC revenues rose 7 per cent, now 48 per cent of total net revenues, while wholesale suffered an 18 per cent fall.
Operating margin plummeted to 0.03 per cent from 9.3 per cent.Levi Strauss & Co saw an 8 per cent drop in net revenues to $1.6 billion in Q1 FY24, with declines across all regions except Asia, which grew 5 per cent on a constant-currency basis.
DTC revenues rose 7 per cent, now 48 per cent of total net revenues, while wholesale suffered an 18 per cent fall.
Operating margin plummeted to 0.03 per cent from 9.3 per cent.
