Levi Strauss & Co (LS&Co) has delivered a strong performance in fiscal 2025 (FY25) ended November 30, marked by accelerated revenue growth, improved profitability and robust cash generation. Reported net revenues rose 4 per cent year on year (YoY) to $6.3 billion, while organic revenues increased 7 per cent. Gross margin expanded by 110 basis points (bps) to 61.7 per cent, reflecting improved pricing, product mix and operational efficiencies.

Operating margin improved sharply to 10.8 per cent from 4.4 per cent in FY24, while adjusted EBIT margin increased to 11.4 per cent from 10.7 per cent, marking the third consecutive year of margin expansion. The net income from continuing operations more than doubled to $502 million from $210 million, with adjusted net income rising to $537 million.

Levi Strauss & Co has delivered a strong FY25, with net revenues rising 4 per cent to $6.3 billion and organic growth of 7 per cent, alongside sharp margin expansion and higher profitability.
Q4 saw 5 per cent organic growth, led by Europe, Asia and DTC, which accounted for nearly half of revenues.
The company expects mid-single digit growth and further margin gains in FY26.

Diluted EPS from continuing operations increased to $1.26 from $0.52 in the previous year, while adjusted diluted EPS rose to $1.34 from $1.24. The company generated $530 million in operating cash flow and $308 million in adjusted free cash flow. The company returned $363 million to shareholders during the fiscal, up 26 per cent YoY, LS&Co said in a press release.

In the fourth quarter (Q4) ended November 30, 2025, the company reported net revenues of $1.8 billion, up 1 per cent on a reported basis and 5 per cent organically compared with Q4 FY24. Growth was broad-based, supported by strong momentum in Europe, Asia and Beyond Yoga, alongside high-single digit comparable growth in direct-to-consumer (DTC).

Europe recorded reported revenue growth of 8 per cent and organic growth of 10 per cent, while Asia delivered growth of 2 per cent reported and 4 per cent organically. In the Americas, revenues declined 4 per cent reported but increased 2 per cent organically, with the US business flat on an organic basis. Beyond Yoga continued to outperform, posting reported growth of 37 per cent and organic growth of 45 per cent.

DTC revenues increased 8 per cent on a reported basis and 10 per cent organically, driven by strength across all regions. E-commerce revenues rose 19 per cent reported and 22 per cent organically, with DTC accounting for 49 per cent of total quarterly revenues. Wholesale revenues declined 5 per cent reported and were flat organically.

Operating margin in the quarter was stable at 11.9 per cent, while adjusted EBIT margin declined to 12.1 per cent from 13.9 per cent a year earlier due to tariff-related pressure on gross margins and higher adjusted SG&A expenses. Gross margin stood at 60.8 per cent versus 61.8 per cent in Q4 FY24. Net income from continuing operations was $160 million, with diluted EPS of $0.4 and adjusted diluted EPS of $0.41.

“Over the past few years, we’ve taken bold steps towards becoming a DTC-first, head-to-toe denim lifestyle brand,” said Michelle Gass, president and CEO of Levi Strauss & Co. “We are well on our way toward realising our strategic ambitions. We have narrowed our focus, improved operational execution and built greater agility across the organisation. As a result, we’ve elevated the Levi’s brand and delivered faster growth and higher profitability as reflected by our Q4 and full year 2025 results. While we still have important work ahead, the company is at an inflection point—emerging as a stronger, more resilient global business ready to define the next chapter of LS&Co.”

“We are sustaining our momentum, delivering 5 per cent organic growth in the fourth quarter on top of 8 per cent growth in the prior year. Our success in denim lifestyle has enabled us to expand our addressable market, positioning us for mid-single digit growth in 2026 and beyond,” said Harmit Singh, chief financial and growth officer of Levi Strauss & Co. “Our disciplined approach to converting growth into profitability has improved adjusted EBIT margin again in 2025 for the third year in a row, and we are on track to expand margins further as we strive toward 15 per cent. Our confidence in this trajectory is reflected in a new $200 million ASR program.”

Looking ahead, the company expects mid-single digit revenue growth in fiscal 2026 alongside further adjusted EBIT margin expansion, supported by continued DTC momentum, disciplined cost management and ongoing brand strength, added the release.

Fibre2Fashion News Desk (SG)

NikeSKIMS is debuting its first head-to-toe system of dress with the Spring ’26 Collection. The collection features footwear, apparel and accessories that are inspired by the modern ballerina and designed to represent grace in motion and strength in form.

Crafted to fit every curve, the new Spring line offers a fresh take on performance silhouettes with five apparel collections, the introduction of the NikeSKIMS Rift Satin and updated accessories.

NikeSKIMS will debut its Spring ’26 collection with a head-to-toe system of dress inspired by the modern ballerina.
The range spans five performance-led apparel material stories, updated accessories and the new NikeSKIMS Rift Satin footwear.
Fronted by Lisa and filmed in Paris, the campaign highlights grace, strength and engineered comfort for every body.

“This Spring ‘26 Collection celebrates the timeless poise and elegance of ballerinas but with a distinct modern twist,” says Kim Kardashian, Co-Founder and Chief Creative Officer, SKIMS. “We obsessed every detail — from the soft lines and feminine colors to the premium materials. Each piece is a statement of beauty and allows women to move with confidence and grace.”

The Spring line offers five material collections across Matte, Stretch Knit, Ribbed Seamless, Weightless Layers and Woven Nylon. The Matte collection includes smooth, sculpting pieces with Dri-FIT technology and two levels of compression. Stretch Knit offers styles that are soft to the touch and lightweight with a flattering drape. The Ribbed Seamless collection includes soft and stretchy ribbed styles with a vintage wash and moisture-wicking tech. Weightless Layers pieces are semi-sheer, ultra-lightweight and feature quick-dry tech. Woven Nylon offers relaxed third layers designed for softness, function and movement.

Also new this season is the NikeSKIMS Rift Satin, which brings the brand’s considered design ethos to footwear. The NikeSKIMS Rift Satin features the iconic tabi-toe design of the original Nike Rift, a sleek strap across the midfoot for quick entry and a secure fit, a soft satin upper material, a minimalist midsole and a textured logo outsole. The NikeSKIMS Rift Satin will be available in two colors, Silt Red and Black.

The NikeSKIMS Spring ’26 Collection comes to life through a campaign starring LISA of Blackpink. LISA is the ultimate multi-hyphenate: a rapper, singer, dancer, actress and style icon.

“When I’m performing, it’s all about looking great while still being able to move and dance,” says LISA. “The NikeSKIMS collection is so comfortable and light that I feel confident wearing it everywhere — from rehearsals to traveling or even relaxing at home. It’s easy to move in, looks amazing and fits perfectly into my everyday life.”

Directed by Sergio Reis, the campaign film celebrates the grace and strength of motion and form while spotlighting LISA’s artistry and passion for movement and dance. Filmed in Paris, the campaign also features professional ballerinas and dancers who helped bring the Spring ’26 Collection look book to life.

NikeSKIMS offers women a complete system of dress that is built on the strength of both brands. From footwear to foundational pieces and bold silhouettes, every product has been meticulously designed to sculpt and engineered to perform for every body.

“The NikeSKIMS Spring ’26 Collection is a true head-to-toe system of dress, designed to make women feel confident and feminine,” says Jamie Jeffries, VP, Global Apparel, Nike. “We’ve paid attention to every detail — from style and function to comfort — so every piece works together seamlessly. By combining Nike’s expertise in performance innovation with SKIMS’s inclusive fit and sculpting technologies, we’re delivering something truly unique for women everywhere.”

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)