US denim giant Levi’s Q3 net revenues up by 41%

Levi’s, the American denim pioneer, is here with its Q3 report!

The denim giant has witnessed its third-quarter net revenue surge by a whopping 41 per cent to clock US $ 1.5 billion.

Notably, the rise is 3 per cent when compared to the third quarter of 2019.

As far as direct-to-consumer sales are concerned, the brand saw a jump of 34 per cent year-on-year (Y-o-Y), while the rise was 4 per cent compared to same period back in 2019.

The global wholesale revenue of Levi’s in the said period witnessed a Y-o-Y jump of 45 per cent. However, compared to Q3 of 2019, the increase was 3 per cent.

The quarter also saw the brand’s digital sales represent around 20 per cent of its overall sales.

Levis, in the quarter, recorded an impressive gross profit of US $ 862 million at a rise of 49.4 per cent. What’s also notable is that the retailer posted all these good numbers despite around 10 per cent of its stores being closed across the globe during the third quarter.

Founded in 1853, San Francisco-based Levi’s has around 2,800 company-operated stores across the world.