Levi's resolving inventory problems

 

Levi Strauss & Co. announced its Q1 earnings yesterday, showing a 6% increase in net revenue to $1.7B.   The U.S. clothing firm is on track to significantly reduce its excess inventory as it grows its e-commerce and D2C channels. Levi's made waves when it announced last month that it would bring AI models to its e-commerce sites. Net income dropped by 41% to $115M, while the company's e-commerce business rose by 11% YoY. Levi's D2C operations increased by 12%, and its website contributed 9% to overall Q1 revenue. Levi's inventories rose by 33%, but Chief Financial and Growth Officer Harmit Singh said its inventory excess would be "substantially lower" by the end of the year.