Excluding one-time items, Levi's posted earnings of $132 million, or 33 cents per share.
"We believe the exit of Dockers will allow both Dockers and Levi's to independently operate and maximize each other's value independently."
Direct gainsBeyond Docker's, Levi's is making gains in growing its profitability as it continues to shift its focus to selling directly to consumers.
During the quarter, Levi's direct channel was up about 10%, driven by strength in the U.S. and 16% growth in e-commerce.
Overall, direct sales comprised 44% of total revenue and Levi's wants to get that number closer to 55%.
Persons:
LEVI, Justin Sullivan, Levi Strauss, Levi's, Levi, khakis, …, Harmit Singh, Singh, Beyoncé, Michelle Gass
Organizations:
Dockers, LSEG, CNBC, of America
Locations:
U.S