On Wednesday, we released our fourth-quarter and fiscal year 2017 financial results, capping off a stellar year, which proved to be one of our strongest in more than a decade.
This quarter alone, net revenues grew 13 percent on a reported basis. For the full year, reported revenue grew 8 percent.
“Our strategies are working and the investments that we’ve made to diversify our business over the past few years are paying off, best demonstrated by the strength of the Levi’s brand globally,” said Chip Bergh, LS&Co. president and chief executive officer.
Here are five takeaways from our latest report:
- Everyone is really loving Levi’s®. The Levi’s® brand grew by 9 percent this past quarter. From men’s and women’s, to tops and bottoms, the brand connected with all consumers. We showed up through cool collaborations (think Google and Supreme), music festivals (Coachella, anyone?) and via one of the hottest ad spots of the year – name the scene, the Levi’s® brand was there. And look to the brand to build on that momentum in 2018.
- Our tops remain on top. Spurred on by the 50th anniversary of our Levi’s® Type III Trucker, our denim jackets had a big moment in 2017. Overall, our tops business grew by an impressive 35 percent, with our Levi’s® graphic T-shirts continuing to drive sales as a must-have item. I mean, what goes better with jeans than the right shirt and jacket?
- Ladies + Levi’s® = big business. Fueled by the success of the 700 series denim collection and tops, our women’s business once again grew across all regions. In fact, since launching our new women’s line back in 2015, we have grown this side of the business for 10 quarters in a row. It now generates more than $1 billion annually.
- We’re an American brand beloved beyond the U.S. We grew by double digits in Canada, Mexico, and in the Europe market in the fourth quarter alone. The love is mutual.
- Shoppers are making their way to us directly. Our direct-to-consumer approach is paying off – it now represents more than 30 percent of our business. In 2017, we invested in new retail store experiences in some of the world’s hottest markets – including Osaka, Japan and SoHo – to much fanfare. Our strategy? Give shoppers a customization experience unlike any other (see our Tailor Shops). But don’t just take our word for it. Come by, see for yourself…
This is but a snapshot of the great wins we had this year and in the fourth quarter. Read the full press release here.