Levi Strauss and Co. announced Wednesday that net revenue for the fourth quarter of fiscal 2024 was $1.8 billion, increasing 12% compared with the same quarter in 2023. For the three months to December 1, net income rose by 44% to $183 million, while diluted earnings per share jumped $0.46 from $0.32.
On a yearly basis, the retailer logged revenue of $6.4 million, up 3% from 2023. Net income came in at $211 million, down 16% from the previous year and diluted earnings per share were $0.52, down by 2023's $0.62. For the full year, the company returned $289 million to shareholders, a 45% increase over the prior year.
"In Q4, the company delivered accelerating revenue growth, up 8% on an organic basis, significantly improved DTC profitability, strong cash flow generation and better-than-expected bottom-line results," Chief Financial Harmit Singh noted. The company's shares dropped 4.09% after the release of the results to sell for $17.35 apiece.
