Levi, which went public last year for a second time in its 167-year history, is navigating a dramatically changed retail industry, with shoppers shifting spending away from apparel to groceries and other household staples. (File pic shows a Levi store in Malaysia)
SAN FRANCISCO: Levi Strauss & Co won’t come close to hitting its sales growth plans for the year. But its top executive still sees opportunities for long-term expansion, including adding more branded stores.
Before the pandemic, Levi’s executive team was planning on getting new leases over the next five or 10 years. Now that timeline has been pushed up as retailers vacate favorable locations, chief executive officer Chip Bergh said in an interview. The San Francisco-based denim maker, which has about 3,100 stores globally, also is in a good position to renegotiate leases with landlords, the CEO said.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
