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Levi's revenues jump

US denim giant Levi Strauss reported a 14% year-on-year increase in net revenue in the year to 25 November 2018, as it grew its worldwide store portfolio.

Revenue for the year rose from $4.9bn to $5.6bn (£3.8bn to £4.3bn). 

Revenue in the fourth quarter grew 9% year-on-year from $1.4bn to $1.6bn (£1.1bn to £1.2bn). 

In Europe, net revenues grew 13% in the fourth quarter, “reflecting broad-based growth across all markets and channels, including strong growth in the company’s women’s and tops business.”

The brand cited its ”performance and expansion of the company’s retail network, as well as growth in its ecommerce business” for its overall success. 

Levis Strauss had 74 more company-operated stores in the year to 25 November 2018 than it did in 2017.

As of 27 May 2018 the company operated 776 stores in 32 countries, as well as 2,100 franchised or other brand-dedicated stores and shop-in-shops outside of the US.

Chip Bergh, president and chief executive officer of Levi Strauss, said: “We had an outstanding year with reported net revenues of $5.6bn, growing 14% year-over-year on a reported basis. It’s clear our strategies to diversify our product portfolio, expand our direct-to-consumer business and deepen our connection with consumers worldwide have worked, resulting in both higher annual revenues and gross margins.”

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