Levi Strauss & Co. (LS&Co.) reported a net revenue increase of 4.1% to $6.282 billion for the fiscal year ending November 30, 2025, compared to $6.032 billion in the prior year. On an organic net revenue basis, excluding the impact of the footwear and Denizen® wind downs as well as the 53rd week in fiscal year 2024, revenue increased by 7.2%. The growth was primarily driven by the direct-to-consumer (DTC) channel, which saw increases across all regions, while wholesale revenues decreased on a reported basis. Net income from continuing operations rose significantly to $502.0 million, a 138.6% increase from $210.4 million in the previous fiscal year, attributed to higher revenue and gross profit, and lower restructuring and impairment charges.
The company's financial performance also saw an increase in Adjusted EBIT, which reached $719.0 million, up from $645.4 million in the prior year, primarily due to higher revenue and gross profit, partially offset by higher Adjusted SG&A. Adjusted EBIT margin increased by 70 basis points to 11.4%. Adjusted net income also increased to $537.1 million from $499.4 million, driven by the higher Adjusted EBIT, partially offset by higher income taxes. Diluted earnings per share from continuing operations increased to $1.26, compared to $0.52 in the prior year, and Adjusted diluted earnings per share increased to $1.34 from $1.24.
Strategic developments during the fiscal year included the sale of the Dockers® intellectual property and operations in the U.S. and Canada on July 31, 2025, with the remaining Dockers® operations expected to close in the first quarter of 2026. The company also continued its "Project Fuel" global productivity initiative, incurring restructuring charges of $24.5 million and restructuring related charges of $12.1 million. Operationally, the company added 110 company-operated stores and closed 70 stores, resulting in a total of 1,231 company-operated stores as of November 30, 2025. E-commerce sales represented 11% of total net revenues and 23% of DTC channel net revenues.
LS&Co. sourced products from independent contract manufacturers located in approximately 32 countries, with no more than 30% sourced from any single country. As of November 30, 2025, the company employed approximately 19,000 people, with approximately 4,100 represented by a labor union or covered by a collective bargaining agreement. Looking ahead, the company anticipates capital expenditures of approximately $238 million in fiscal year 2026, primarily for investments in new stores, distribution capacity, and technology. The company also declared a cash dividend of $0.14 per share, payable on February 25, 2026.
About LEVI STRAUSS & CO
Levi Strauss & Co. is a global apparel company renowned for its denim jeans and casual wear brands, including Levi's, Dockers, and Beyond Yoga. It designs, markets, and sells products across multiple segments and channels worldwide, emphasizing brand authenticity, innovation, and sustainability. The company operates retail stores, e-commerce platforms, and wholesale partnerships, serving diverse consumer markets with a focus on quality, cultural relevance, and responsible business practices.
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