Levi’s UK arm reduced its workforce by more than 200 employees during its latest financial year, even as profits and sales registered an increase.
The Northampton-based operation of the jeans retailer cut its headcount from 1,857 to 1,630 in the year ended 30th November 2024. The job losses came after a similar level of hiring the previous year.
Pre-tax profit rose from US $ 10.1 million to US $ 12.4 million during the period, while sales increased from US $ 116.6 million to US $ 126.9 million.
In a statement approved by the board, the company said service levels had improved and expressed confidence that customers and consumers would view Levi’s as a more reliable partner going into 2025. It noted, however, that overall traffic had remained flat or declined, with bargain hunting continuing to drive price-sensitive consumers toward outlet stores rather than mainline locations.
The board added that outlets remained a highly professionalised and profitable business model for the company, offering more opportunities than risks. It further acknowledged that while shoppers were still attracted by special offers and the ease of comparing prices across platforms, brand awareness was expected to rise through a global 12-month marketing campaign launched in 2024 with brand ambassador Beyoncé. This, the company said, should allow Levi’s to scale back promotional activity both online and offline.
Looking ahead, Levi’s said its five-year strategy would prioritise growth in womenswear and tops, alongside additional investment in premium denim and more flexible production capabilities.
