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21 Apr

Levi Strauss Names Snap’s Kenny Mitchell Chief Marketing Officer

by Beauty Tips
Fashion, Featured
Levi Strauss & Co. has turned to the world of social media and Snap for its latest head of promoting.  The denim giant named Kenny Mitchell senior vice chairman and chief marketing officer of the Levi’s brand starting June 5.  Most recently, Mitchell was chief marketing officer at Snapchat parent Snap, where he led the expansion of the corporate’s global community, promoting base and developer partners. Before Snap, he held executive positions at McDonald’s USA and Gatorade for a brand-building profession spanning greater than 20 years.   Mitchell will report back to president Michelle Gass, who's preparing to take over the role of chief executive officer from Chip Bergh and is currently running the namesake business. Gass said: “Kenny is well known as an modern...
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7 Apr

Levi Strauss Shares Hit by Gross Margin Declines, Wholesale Weakness

by Beauty Tips
Fashion, Featured
As Wall Street anxious over signs of somewhat fading at Levi Strauss & Co., chief executive officer Chip Bergh told WWD that the denim leader continues to be very much in its groove.  Shares of Levi’s fell 16 percent to $15.14 after the corporate turned in first-quarter earnings that topped expectations, but were accompanied by gross margin declines, still-heavy inventories and weakness at wholesale. “The market’s going to do what the market’s going to do,” Bergh said. “We’re going to at all times run this business for the long term.”  Like many of the fashion industry, Levi’s loaded up on inventory early last 12 months when the patron was stronger and the provision chain was slower.  Bergh said the concept was: “Stonewashed 501s don’t...
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25 Jan

Levi Strauss Tops Q4 Estimates, Sees Slower Growth for 2023

by Beauty Tips
Fashion, Featured
Chip Bergh isn’t quite able to make his last lap at Levi Strauss & Co. — however the chief executive officer, who’s preparing at hand the reins over to Michelle Gass, is actually seeking to finish strong.  The corporate on Wednesday topped estimates in what was a tougher fourth-quarter and continued to realize in what turned out to be a decidedly mixed yr for the style industry.  For the fiscal yr ended Nov. 27, Levi’s tallied net income of $569 million and adjusted earnings per share of $1.50 on $6.2 billion in sales, a gain of seven percent on a reported basis and a 12 percent increase in constant currencies.  “We’re really completely happy with the yr,” Bergh told WWD. “It was a yr...
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