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Levi Strauss' Quarterly Net Income (Q1 2017 - Q2 2022, $ Million)

Industry: Clothing
Current: Company Performance

Levi Strauss’ net income in Q2 2022 was $49.7 million
In Q1 2022, Levi reported a net income of$195.8 million
Net income for Q2 2022 was impacted by the Russia-Ukraine crisis and COVID-19 related supply chain restrictions

Levi Strauss reported a net income of $49.7 million, a decrease of nearly 23%, as compared to $64.7 million in Q2 2021.

The decrease in net income for Q2 2022 is driven by the lower operating income resulting from higher selling, general and administrative expenses. Additionally, higher income taxes in the current year were partially offset with lower interest expenses and $30.1 million in prior year costs related to the early extinguishment of debt. The Russia-Ukraine crisis resulted in a loss of $60.4 million due to impairment and other charges.

The sales in Q2 2022 through the online and direct-to-customer channels, resulted in higher margins and net income for Levi Strauss & Co.

In the fourth quarter of 2021, Levi Strauss changed its segment reporting to integrate the Levi's Brands business, which includes Levi's, Signature by Levi Strauss & Co., and Denizen brands, and separate the Dockers business.

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