1/26, 10:16 PM (Source: TeleTrader)
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Levi's Q4 revenue jumps 22% to hit $1.7B

Levi-Strauss and Co. revealed on Wednesday that its net revenues for the fourth fiscal quarter of 2021 amounted to $1.7 billion, marking an increase of 22% compared to the same period a year earlier. The company's net income rose 168% year-on-year to $153 million, while diluted earnings per share increased 164% hitting $0.37.

For the entire year, Levi Strauss' net revenues grew 29% compared to the previous year to reach $5.8 billion. In addition, the company's yearly net income rose to $554 million, as opposed to a net loss of $127 million in 2020. Levi's EPS soared to $1.35, in contrast with a loss of $0.32 during the previous year.

"We had a strong finish to 2021 and I can confidently say that we are a stronger company than ever before. Today's results reflect robust financial performance, marked by sequential improvement through the year," said Chip Bergh, president and CEO of Levi Strauss & Co.

The company's stocks also rose 3.1% in after-hours trading following the official announcement.

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