Levi Strauss & Co. closed fiscal 2025 with steady top line growth and stronger profitability, capping the year with a fourth quarter defined by resilient DTC gains, a fast growing Beyond Yoga® business, and continued progress on its “denim lifestyle” strategy. The San Francisco company is guiding to mid single digit revenue growth and further margin expansion in 2026, underlining confidence in its direct to consumer pivot and disciplined cost control.
Q4 2025: Modest Growth, DTC Momentum
In the fourth quarter ended November 30, 2025, net revenues reached $1.8 billion, up 1% on a reported basis and 5% on an organic basis compared to Q4 2024. Growth was broad based, with Europe up 8% reported (10% organic), Asia up 2% reported (4% organic), and Americas down 4% reported but up 2% organically.
The DTC channel continued to outpace the broader business, with net revenues up 8% on a reported basis…
and 10% organically, and ecommerce growing 19% reported (22% organic); DTC accounted for 49% of total net revenues in the quarter. Meanwhile, Beyond Yoga® stood out with 37% reported growth (45% organic).
Profitability And EPS Q4 gross margin was 60.8%, down from 61.8% a year earlier, primarily due to tariffs, partially offset by initial price increases.
Operating margin held steady at 11.9% in both Q4 2025 and Q4 2024, while adjusted EBIT margin declined to 12.1% from 13.9%, reflecting tariff headwinds and the impact of lapping a prior year’s 53rd week.
Net income from continuing operations came in at $160 million, versus $180 million in Q4 2024; adjusted net income was $163 million, down from $200 million. Diluted EPS from continuing operations was $0.40, compared to $0.45 a year earlier, with adjusted diluted EPS at $0.41 versus $0.49…
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