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Levi Strauss And Co

All articles tagged with #levi strauss and co

business2 years ago•2 min saved

"Levi's Cuts Over 140 Jobs at San Francisco Headquarters"

Levi Strauss & Co. is laying off 146 employees at its San Francisco headquarters as part of a global productivity initiative, with more widespread terminations expected in the first half of 2024. The company, known for its iconic blue jeans, is aiming to tighten its belt amid macroeconomic challenges and issues within its U.S. wholesale business. Incoming CEO Michelle Gass is overseeing the layoffs, which are part of a cautious approach in light of recent volatility. The company also secured a $170 million deal to keep its name on the San Francisco 49ers stadium until 2043.

via Fox Business|

#business #global-productivity-initiative #layoffs

sports-business2 years ago•3 min saved

49ers and Levi's Extend Stadium Naming Rights Deal for $170 Million

The San Francisco 49ers have secured a landmark 10-year, $170 million naming rights extension with Levi Strauss & Co. for Levi's Stadium, extending the partnership through the 2043 NFL season. The deal, subject to approval, reflects the success of the team and the stadium, with funds to be split between the Santa Clara Stadium Authority and the 49ers for stadium improvements. This extension comes as Levi's Stadium prepares to host its second Super Bowl and its first round of FIFA World Cup matches in 2026.

via The Mercury News|

#levi-strauss-and-co #levis-stadium #naming-rights-extension

business3 years ago•2 min saved

Levi Strauss Stock Plummets Despite Q1 Earnings Beat and Promotions.

Levi Strauss & Co. shares fell the most on record after reporting a first-quarter gross margin of 55.8%, below expectations due to increased promotions and excess inventory. The retailer recognized a net restructuring charge of $11.4 million tied to job-cut-related severance benefits and $18.2 million related to discontinued technology projects. However, quarterly revenue exceeded expectations, suggesting that demand for denim held up even as overall consumer spending cooled. Levi is the first of the US mass-market apparel chains to report first-quarter earnings.

via Yahoo Finance|

#business #earnings #inventory