San Francisco, July 11, 2025 — American denim giant Levi Strauss & Co has reported revenues of nearly $3 billion for the first half of its current fiscal year ending June 1, 2025, marking a 4.7% rise compared to the same period last year. The results, led by strong second-quarter performance, indicate growing momentum behind the company’s ongoing strategic transformation.
Levi’s reported $1.44 billion in revenue for the second quarter alone, up 6% on a reported basis and 9% organically. The company’s gross margin reached 62.6%, its highest on record, supported by pricing discipline, a favorable channel mix, and lower product costs. Operating income stood at $108 million, while adjusted EBIT came in at $120 million, representing 8.3% of net revenues.
Company CEO Michelle Gass expressed confidence in the direction of the business, stating that Levi’s is entering the second half of the year “from a position of strength.” She emphasized that the company’s strategy to evolve from a denim label into a broader lifestyle brand is beginning to pay off, particularly in the women’s apparel category and in trend-driven items like wide-leg jeans and denim dresses.
One of Levi’s core focuses is strengthening its direct-to-consumer (DTC) business, which accounted for 50% of total revenue in the second quarter. DTC revenue rose 11%, driven by double-digit growth across e-commerce and company-operated stores. The Levi’s® brand itself grew 9% organically.
Regionally, Europe outperformed with growth of approximately 14%, aided by strong consumer demand and improved margins. The Americas followed with mid-single-digit growth, while Asia posted relatively flat results, impacted by weaker demand in select markets.
Despite global economic uncertainty and ongoing tariff pressures—particularly from increased U.S. import duties—Levi Strauss raised its full-year guidance. The company now expects full-year revenue growth of 1–2% on a reported basis and 4.5–5.5% on an organic basis. Full-year adjusted earnings per share are forecasted between $1.25 and $1.30, an improvement from the earlier estimate of $1.20–$1.25.
In preparation for the holiday season, the company is also scaling back its product assortment, focusing on high-performing items to reduce excess inventory and avoid markdowns.
Following the earnings report, shares of Levi Strauss jumped as much as 11% in after-hours trading. Investment bank JPMorgan raised its price target for the stock from $18 to $23, citing the company’s improved margins, strategic clarity, and strong performance in DTC channels.
