With three quarters of double-digit growth, we’re not just beating expectations, we’re defying them.
On Tuesday, we announced our second-quarter earnings, highlighting growth across all regions, channels and categories. Our reported revenue grew by an impressive 17 percent and 13 percent in constant currency.
“We delivered our third consecutive quarter of double-digit revenue growth, driven by the disciplined execution of our strategies and our more diversified portfolio,” said Chip Bergh, president and chief executive officer, Levi Strauss & Co. “These results have outpaced the industry and exceeded even our own expectations, and as a result, we are raising our full-year revenue guidance.”
Here are other key takeaways from our results (all numbers in constant currency unless otherwise stated):
Living in Levi’s® isn’t just a jean thing. Tops grew 38 percent this quarter. Driven by sales of items like our iconic trucker jackets, T-shirts and sportswear logo sweatshirts, the Levi’s® brand is gaining just as much attention for its offerings outside of the bottoms category. And speaking of…
The Levi’s® brand remains on a roll. The brand boasted 12 percent growth for the quarter and was up 30 percent for the Levi’s® women’s business. Investments in marketing (we were the “unofficial uniform” of Coachella again this year) are driving much of that momentum and helping to put Levi’s® at the center of culture.
Despite tough retail headwinds, our U.S. wholesale grew by 9 percent. That strong performance is based on growth in women’s and an ever-impressive showing by our value brands, Signature by Levi Strauss & Co.™ and Denizen®. This growth is especially remarkable considering the U.S. retail environment continues to be challenged by store closures.
Our Direct-to-Consumer business grew by double digits – for the 10th quarter in a row. Our ecommerce, brick-and-mortar stores and international locations really are firing on all cylinders. That growth is a testament to our investments in openings such as our recent Madero and Toronto flagship launches – both are great examples of our ability to deliver a world-class shopping experience to consumers.
We definitely have international appeal. Our international revenue has grown from 49 percent to 57 percent over last three years, with Europe growing 19 percent in this quarter alone. Overall, our top 5 markets and top 10 global wholesale customers each collectively grew by double-digits.
Want more? Read our full press release now.