Levi Strauss & Co. Files 2024 10-K
Ticker: LEVI · Form: 10-K · Filed: Jan 29, 2025 · CIK: 94845
Sentiment: neutral
Topics: 10-K, annual-report, apparel
TL;DR
Levi's 2024 10-K is in! Full financial picture for the year ending Dec 1, 2024, filed Jan 29, 2025.
AI Summary
Levi Strauss & Co. filed its 2024 10-K report on January 29, 2025, detailing its fiscal year ending December 1, 2024. The company, headquartered at 1155 Battery St, San Francisco, CA, operates within the apparel industry. Key financial data and operational details for the fiscal year 2024 are presented in this comprehensive filing.
Why It Matters
This filing provides investors and analysts with a detailed overview of Levi Strauss & Co.'s financial performance and strategic positioning for the fiscal year 2024, crucial for understanding the company's health and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Numbers
- 2024 — Fiscal Year (The report covers the fiscal year ending December 1, 2024.)
- 20250129 — Filing Date (The 10-K was filed on January 29, 2025.)
Key Players & Entities
- LEVI STRAUSS & CO (company) — Filer
- 1155 BATTERY ST (address) — Business and Mail Address
- SAN FRANCISCO (city) — Business and Mail Address City
- CA (state) — Business and Mail Address State
- 94111 (zip_code) — Business and Mail Address Zip
- 4155016000 (phone_number) — Business Phone
- 20241201 (date) — Fiscal Year End
- 20250129 (date) — Filing Date
FAQ
What is the fiscal year end date for Levi Strauss & Co. as reported in this 10-K?
The fiscal year end date is December 1, 2024.
When was this 10-K filing submitted to the SEC?
The filing was submitted on January 29, 2025.
What is the company's primary business address?
The company's business address is 1155 Battery St, San Francisco, CA 94111.
What is the SIC code for Levi Strauss & Co.?
The Standard Industrial Classification (SIC) code is 2300 for Apparel & Other Finished Products of Fabrics & Similar Material.
What is the SEC file number for Levi Strauss & Co.?
The SEC file number is 001-06631.
Filing Stats: 4,441 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2025-01-29 16:06:30
Key Financial Figures
- $0.001 — which registered Class A Common Stock, $0.001 par value per share LEVI New York Stock
- $9 billion — roximately 6-8%, reaching approximately $9 billion to $10 billion in total company net rev
- $10 billion — %, reaching approximately $9 billion to $10 billion in total company net revenue, and to gr
Filing Documents
- lvis-20241201.htm (10-K) — 3541KB
- lvis12012024ex-48.htm (EX-4.8) — 37KB
- lvis12012024ex-108.htm (EX-10.8) — 71KB
- lvis12012024ex-109.htm (EX-10.9) — 72KB
- lvis12012024ex-1010.htm (EX-10.10) — 71KB
- lvis12012024ex-1040.htm (EX-10.40) — 32KB
- lvis12012024ex-1045.htm (EX-10.45) — 1564KB
- lvis12012024ex-1050.htm (EX-10.50) — 120KB
- lvis12012024ex-1052.htm (EX-10.52) — 74KB
- lvis12012024ex-191.htm (EX-19.1) — 70KB
- lvis12012024ex-192.htm (EX-19.2) — 18KB
- lvis12012024ex-211.htm (EX-21.1) — 36KB
- lvis12012024ex-231.htm (EX-23.1) — 3KB
- lvis12012024ex-311.htm (EX-31.1) — 9KB
- lvis12012024ex-312.htm (EX-31.2) — 9KB
- lvis12012024ex-321.htm (EX-32.1) — 8KB
- lvis12012024ex-97.htm (EX-97) — 42KB
- image_0.jpg (GRAPHIC) — 118KB
- image_01.jpg (GRAPHIC) — 2KB
- image_1a.jpg (GRAPHIC) — 1KB
- image_1b.jpg (GRAPHIC) — 0KB
- image_2.jpg (GRAPHIC) — 0KB
- lvis-20241201_g1.jpg (GRAPHIC) — 51KB
- 0000094845-25-000005.txt ( ) — 20233KB
- lvis-20241201.xsd (EX-101.SCH) — 95KB
- lvis-20241201_cal.xml (EX-101.CAL) — 156KB
- lvis-20241201_def.xml (EX-101.DEF) — 604KB
- lvis-20241201_lab.xml (EX-101.LAB) — 1231KB
- lvis-20241201_pre.xml (EX-101.PRE) — 926KB
- lvis-20241201_htm.xml (XML) — 3131KB
Risk Factors
Item 1A. Risk Factors 15
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 39 Item 1C. Cybersecurity 39
Properties
Item 2. Properties 40
Legal Proceedings
Item 3. Legal Proceedings 41
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 41 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 42
Reserved
Item 6. Reserved 44
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 45
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 77
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 80
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 138
Controls and Procedures
Item 9A. Controls and Procedures 138
Other Information
Item 9B. Other Information 138
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 138 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 139
Executive Compensation
Item 11. Executive Compensation 139
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 139
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 139
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 139 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 140
Form 10-K Summary 146
Item 16. Form 10-K Summary 146
SIGNATURES
SIGNATURES 147 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain matters discussed in this Annual Report, including (without limitation) statements in "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995. Any statements herein that are not statements of historical fact are forward-looking statements. Words such as "believe", "will", "will be", "will continue", "will likely result", "may", "predicts", "so we can", "when", "anticipate", "intend", "estimate", "expect", "project", "could", "plans", seeks", "aim" or the negatives of such terms and similar expressions are intended to identify forward-looking statements. Although we believe that, in making any such statements, our expectations are based on reasonable assumptions, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. These forward-looking statements include statements relating to our anticipated financial performance and business prospects, including: our business strategies, market outlook and opportunities, including our focus on elevating and strengthening our brand, the portion of our net revenues we aim to have represented by our direct-to-consumer business, our digital presence and growth into under-penetrated parts of our business, our expectations regarding gross and Adjusted EBIT margins, and our plans and expectations for the benefits of investments in operational excellence including steps to improve our speed-to-market; our commitment to increasing total shareholder returns through our capital allocation priorities; our ability to achieve anticipated op
BUSINESS
Item 1. BUSINESS Overview From our California Gold Rush beginnings, we have grown into one of the world's largest brand-name apparel companies. A history of responsible business practices, rooted in our core values, has helped us build our brands and engender consumer trust around the world. Under our Levi's , Dockers , Levi Strauss Signature, Denizen and Beyond Yoga brands, we design, market and sell – directly or through third parties and licensees – products that include jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jackets and related accessories for men, women and children around the world. In the first quarter of 2024 we announced the strategic decision to discontinue the Denizen brand. In the fourth quarter of 2024 we announced we are undertaking an evaluation of strategic alternatives to the global Dockers business, including a sale or other strategic transactions. Our Levi's Brands business, which includes the Levi's , Levi Strauss Signature and Denizen brands, is presented in our financial statements under the caption of Levi's Brands and is defined geographically in three reportable segments: Americas, Europe and Asia. The Dockers and Beyond Yoga businesses are presented in our financial statements under the caption of Other Brands. Our Global Reach Our products are sold in approximately 120 countries. We service our customers through our global infrastructure, developing, sourcing and marketing our products around the world. Although our brands are recognized as authentically "American", we derived over half of our net revenues from outside the United States in fiscal year 2024. Our products are sold in approximately 50,000 retail locations worldwide, including approximately 3,400 brand-dedicated stores and shop-in-shops. In the United States, chain retailers and department stores have traditionally been the primary distribution channels for our Levi's and Dockers products. Outside the United States, department stores,