The company’s digital revenues grew around 34% in the fourth quarter compared with the same period last year, making up about a quarter of sales.

"In this most extraordinary year, I'm proud of the team and our accomplishments in the face of so much adversity. The steps we took on structural costs, cash management, agility and new capabilities helped drive results far ahead of our own expectations and give me great confidence in our future,” said Chip Bergh, CEO of Levi Strauss & Co. 

"We will double down on elevating our iconic brand, investing in direct engagement with our fans, advancing our fast-growing digital business and further diversifying our portfolio. As we continue to accelerate these strategic focus areas, we will emerge a stronger, more profitable, more agile company." 

Currently, around 40% of European stores, and 17% globally, are closed, with others operating on reduced hours.

The company added that although quarterly trends appear to be improving, the recent resurgence of the virus underscores that the ultimate impact of the pandemic remains highly uncertain and it expects to be affected for at least six months.

 

Image: A bronze statue of Levi Strauss outside the Levi Strauss Museum in Buttenheim, Germany.