Ajay Suresh
Levi's will provide a more specific timeline for achieving that objective once it has reevaluated its plans, according to Gass. She mentioned that there have been many changes in the industry since the initial plans were disclosed.
The Chief Financial Officer, Harmit Singh, noted that the new schedule will probably be revealed in approximately a year, "but we will delay it by a couple of years."
Levi's generated $6.2 billion in revenue in the previous fiscal year that ended on Nov. 26, 2023, with a decrease in net income from $569 million to $250 million compared to the previous year.
Revenue has remained stagnant for the last 1.5 years, partially due to the fact that "consumers are experiencing financial strain, particularly in Western regions," according to Singh. The CFO remarks that although the U.S. consumers who make over $100,000 annually and is the company's primary target, has shown some improvement since earlier this year, there are still many cost-conscious Americans facing financial strain.
He mentioned that the European consumer might be slightly more careful, even though inflation is decreasing at a quicker rate in the region compared to the US. He stated that the overall outlook is good in Asia and Latin America.
source: ft.com
The Chief Financial Officer, Harmit Singh, noted that the new schedule will probably be revealed in approximately a year, "but we will delay it by a couple of years."
Levi's generated $6.2 billion in revenue in the previous fiscal year that ended on Nov. 26, 2023, with a decrease in net income from $569 million to $250 million compared to the previous year.
Revenue has remained stagnant for the last 1.5 years, partially due to the fact that "consumers are experiencing financial strain, particularly in Western regions," according to Singh. The CFO remarks that although the U.S. consumers who make over $100,000 annually and is the company's primary target, has shown some improvement since earlier this year, there are still many cost-conscious Americans facing financial strain.
He mentioned that the European consumer might be slightly more careful, even though inflation is decreasing at a quicker rate in the region compared to the US. He stated that the overall outlook is good in Asia and Latin America.
source: ft.com
