Levi lifts its profit goal, but tariff refunds supply most of it

Levi Strauss is one of the world's largest brand-name apparel companies and a leader in jeans. [E34][E34] Q3 release, About Levi Strauss & Co.Levi Strauss & Co. (LS&Co.) is one of the world's largest brand-name apparel companies and a global leader in jeanswear.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm It sells in about 120 countries, and its 2025 revenue was $6.3 billion. [E35][E35] Q3 release, About Levi Strauss & Co.Its products are sold in approximately 120 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,300 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2025 net revenues were $6.3 billion.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm So far in 2026, its own stores and websites made 49% of sales. Business outside the United States made 60%. [Q20][Q20] Form 10-Q, overviewOur DTC channel generated 49% of our net revenues in the first nine months of both 2026 and 2025Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q21][Q21] Form 10-Q, overviewNet revenues from our international business, which includes our Europe and Asia segments, as well as Canada and Latin America from our Americas segment, represented 60% and 58% of our net revenues in the first nine months of 2026 and 2025, respectively.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Its ten biggest wholesale customers made up 24% of 2025 sales. The founder's family controls shareholder votes through Class B shares with ten votes each. [K10][K10] Form 10-K, businessSales to our top ten wholesale customers accounted for 24%, 25% and 27% of our total net revenues in fiscal years 2025, 2024 and 2023, respectively.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [K01][K01] Form 10-K, risk factorsOur Class B common stock, which is entitled to ten votes per share, is primarily owned by descendants of the family of our founder, Levi Strauss, and their relatives and trusts established for their behalf. Collectively, these persons have the ability to control the outcome of stockholder votesLevi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm

Levi buys nearly all its clothes from outside factories in about 32 countries, with no more than 30% from any one. [K09][K09] Form 10-K, businessWe source nearly all of our products through independent contract manufacturers.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [K09b][K09b] Form 10-K, businessIn fiscal year 2025, we sourced products from independent contract manufacturers located in approximately 32 countries around the world, with no more than 30% sourced from any single countryLevi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm Apparel is a crowded, fragmented business. [K11][K11] Form 10-K, competitionThe global apparel industry is highly competitive and fragmented.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm On February 20, 2026, the Supreme Court struck down tariffs set under an emergency powers law. In April, customs officials set up a system to process refunds in phases. [Q02][Q02] Form 10-Q, Note 10On February 20, 2026, a U.S. Supreme Court ruling invalidated tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”). In April 2026, the U.S. Customs and Border Protection (“CBP”) released the Consolidated Administration and Processing Entries (“CAPE”) functionality to facilitate a phased approach to process IEEPA tariff refunds.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm On July 23, the government announced new tariffs under a different trade law. Levi says many of its goods come from Bangladesh, Cambodia, Pakistan and Vietnam, which face them. [Q03][Q03] Form 10-Q, management's discussionFollowing the U.S. Supreme Court ruling, the U.S. government announced on July 23, 2026, new tariffs under Section 301 of the Trade Act of 1974 on most imports from certain countries, effective upon the expiration of the previous temporary Section 122 tariffs.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q04][Q04] Form 10-Q, management's discussionMany of our products are produced in countries, such as Bangladesh, Cambodia, Pakistan, and Vietnam, that were subject to the invalidated U.S. IEEPA tariffs, and are subject to the new prospective tariffs.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

Levi has raised its profit goal all year. It aimed for $1.40 to $1.46 a share in January and $1.46 to $1.52 in July. [R03][R03] Q4 2025 release, fiscal 2026 guidanceAdjusted diluted EPS: $1.40 to $1.46.Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [R12][R12] Q1 release, fiscal 2026 guidanceAdjusted diluted EPS: Raised to $1.42 to $1.48, up from $1.40 to $1.46.Levi Strauss & Co. first quarter 2026 results release, Exhibit 99.1 to Form 8-K, April 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000021/exhibit991-1q2026pressrele.htm [R21][R21] Q2 release, fiscal 2026 guidance tableAdjusted diluted EPS Raised to $1.46 to $1.52Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm The July goal assumed tariffs of 30% on goods from China and 20% elsewhere would stay. [R22][R22] Q2 release, fiscal 2026 guidanceGuidance assumes U.S. tariffs on imports from China remain at 30% and Rest-of-World at 20%.Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm In April, Reuters reported that the finance chief said the goal then in place, $1.42 to $1.48 a share, left out possible refunds. The July release did not say whether its new goal did. [W01][W01] Reuters, April 7, 2026CFO says forecast excludes possible tariff refunds, sees further upsideReuters · Read October 7, 2026Open source ↗https://www.reuters.com/business/retail-consumer/levi-strauss-raises-annual-forecasts-resilient-demand-premium-jeans-2026-04-07/ [R12][R12] Q1 release, fiscal 2026 guidanceAdjusted diluted EPS: Raised to $1.42 to $1.48, up from $1.40 to $1.46.Levi Strauss & Co. first quarter 2026 results release, Exhibit 99.1 to Form 8-K, April 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000021/exhibit991-1q2026pressrele.htm That finance chief, Harmit Singh, is retiring, and John Vandemore, finance chief of Skechers for nine years, takes over on November 1. [V04][V04] Press release, September 30, 2026In April 2026, the company announced Executive Vice President and Chief Financial & Growth Officer (CFGO) Harmit Singh’s intent to retire from the company after a planned transition period.Levi Strauss & Co. press release appointing John Vandemore as chief financial officer, Exhibit 99.1 to Form 8-K, September 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000199937126021687/ex99-1.htm [V01][V01] Press release, September 30, 2026today announced the appointment of John Vandemore as Executive Vice President and Chief Financial Officer, effective November 1, 2026.Levi Strauss & Co. press release appointing John Vandemore as chief financial officer, Exhibit 99.1 to Form 8-K, September 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000199937126021687/ex99-1.htm [V02][V02] Press release, September 30, 2026He joins the company from Skechers U.S.A., Inc., where he has served as Chief Financial Officer for the past nine yearsLevi Strauss & Co. press release appointing John Vandemore as chief financial officer, Exhibit 99.1 to Form 8-K, September 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000199937126021687/ex99-1.htm

Third-quarter revenue rose 4% to $1.6 billion, or 5% without currency swings. [E18][E18] Q3 release, third quarter highlightsNet Revenues of $1.6 billion increased 4% on a reported basis and 5% on an organic basis versus Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Profit per share from continuing operations rose to $0.43 from $0.31. Adjusted profit per share rose to $0.48 from $0.34. [E19][E19] Q3 release, third quarter highlightsDiluted earnings per share from continuing operations was $0.43 compared to $0.31 in Q3 2025. Adjusted diluted earnings per share was $0.48 compared to $0.34 in Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Adjusted profit leaves out restructuring costs, a legal gain and a few other items, but it keeps the tariff refunds in. [E29][E29] Q3 release, non-GAAP definitionsNet income from continuing operations excluding goodwill impairment charges, restructuring charges, net, restructuring related charges and other, net, loss on early extinguishment of debt, and gain on legal settlement, adjusted to give effect to the income tax impact of such adjustmentsLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q29][Q29] Form 10-Q, management's discussionNet tariff refunds contributed 490 basis points of Adjusted EBIT margin expansion.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E03][E03] Q3 release, third quarter highlightsThe impact of tariff refunds contributed $0.16 (1) of EPS benefit, of which approximately $0.05 (2) was redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

The refunds cut the cost of goods by $79 million and added $5 million of interest income, less $20 million of tax. That added $0.16 a share, about 33% of the quarter's adjusted profit. [E05][E05] Q3 release, footnote 1The impact of the International Emergency Economic Powers Act (IEEPA) tariff refunds includes refunds of $79 million in cost of goods sold and $5 million of interest income in other income (expense), net. The tax expense impact was $20 million.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E03][E03] Q3 release, third quarter highlightsThe impact of tariff refunds contributed $0.16 (1) of EPS benefit, of which approximately $0.05 (2) was redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E19][E19] Q3 release, third quarter highlightsDiluted earnings per share from continuing operations was $0.43 compared to $0.31 in Q3 2025. Adjusted diluted earnings per share was $0.48 compared to $0.34 in Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm By August 30, Levi had received $57.1 million of the refunds in cash, and the rest is owed to it. [Q02b][Q02b] Form 10-Q, Note 10Approximately $ 57.1 million of those refunds were received by August 30, 2026 and the remaining amount is recorded as a receivable in the consolidated balance sheet. The Company continues to assess loss recovery on tariff refunds under future phases.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Levi spent $25 million back on the business, including extra promotion and marketing. That cost about $0.05 a share and left a net gain of $0.11. [E06][E06] Q3 release, footnote 2During the third quarter of 2026, the company redeployed IEEPA tariff refunds to support the business including additional promotion and marketing expenditures. This resulted in an additional $25 million of expense during the third quarter of 2026, of which $19 million impacted gross margin and $6 million impacted SG&A.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E03][E03] Q3 release, third quarter highlightsThe impact of tariff refunds contributed $0.16 (1) of EPS benefit, of which approximately $0.05 (2) was redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E04][E04] Q3 release, third quarter highlightsThe tariff refund benefit, net of redeployment, was $0.11.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

Without that net gain, adjusted profit would have been about $0.37 a share, up about 9% from a year earlier. Without the full $0.16 refund, but still counting the spending back, it would have been about $0.32, down from $0.34. [E19][E19] Q3 release, third quarter highlightsDiluted earnings per share from continuing operations was $0.43 compared to $0.31 in Q3 2025. Adjusted diluted earnings per share was $0.48 compared to $0.34 in Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E04][E04] Q3 release, third quarter highlightsThe tariff refund benefit, net of redeployment, was $0.11.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E03][E03] Q3 release, third quarter highlightsThe impact of tariff refunds contributed $0.16 (1) of EPS benefit, of which approximately $0.05 (2) was redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Adjusted EBIT margin rose to 15.5% of sales from 11.8%. The refunds supplied 4.9 points of that, and about 1.6 points were spent back. [E52][E52] Q3 release, third quarter highlightsAdjusted EBIT margin was 15.5% in Q3 2026 compared to 11.8% in Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E53][E53] Q3 release, third quarter highlightsThe impact of tariff refunds contributed 490 basis points (1) of margin expansion, of which approximately 160 basis points (2) were redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm So the margin was about 12.2% net of the refunds, but about 10.6% before them, below last year's 11.8%. Levi's quarterly report calls the full 4.9 points net tariff refunds, while its release puts the net figure at 3.3 points. [E52][E52] Q3 release, third quarter highlightsAdjusted EBIT margin was 15.5% in Q3 2026 compared to 11.8% in Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E53][E53] Q3 release, third quarter highlightsThe impact of tariff refunds contributed 490 basis points (1) of margin expansion, of which approximately 160 basis points (2) were redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E54][E54] Q3 release, third quarter highlightsThe tariff refund benefit, net of redeployment, was 330 basis points.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q29][Q29] Form 10-Q, management's discussionNet tariff refunds contributed 490 basis points of Adjusted EBIT margin expansion.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

The new full-year goal includes the refunds. Levi plans to spend about $60 million of them back this year, including about $35 million in the fourth quarter. [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm At the roughly 23% tax rate Levi expects, that fourth-quarter spending costs about $0.07 a share. So for the year, the refunds add about $0.04 a share after the spending back. [E11][E11] Q3 release, fiscal 2026 guidance tableTax rate Approximately 23%, 2 points higher than prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E33][E33] Q3 release, income statementDiluted 390,620,582 399,529,649 392,098,306 400,401,333Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E03][E03] Q3 release, third quarter highlightsThe impact of tariff refunds contributed $0.16 (1) of EPS benefit, of which approximately $0.05 (2) was redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm That is most of the $0.06 raise at the middle of the range. Without the refunds, the goal would be about $1.51 a share, against $1.49 at the middle of July's range. [E01][E01] Q3 release, fiscal 2026 guidance tableAdjusted diluted EPS Raised to $1.54 to $1.56Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R21][R21] Q2 release, fiscal 2026 guidance tableAdjusted diluted EPS Raised to $1.46 to $1.52Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm [E03][E03] Q3 release, third quarter highlightsThe impact of tariff refunds contributed $0.16 (1) of EPS benefit, of which approximately $0.05 (2) was redeployed to support the business.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E11][E11] Q3 release, fiscal 2026 guidance tableTax rate Approximately 23%, 2 points higher than prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E33][E33] Q3 release, income statementDiluted 390,620,582 399,529,649 392,098,306 400,401,333Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Because the July release did not say whether that goal counted refunds, this comparison assumes it did not. Levi had also booked about $2 million of refunds before the third quarter. [Q06][Q06] Form 10-Q, management's discussionFor the nine-month period ended August 30, 2026, the increase in gross margin includes the IEEPA tariff refund benefit of $80.7 millionLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q02c][Q02c] Form 10-Q, Note 10During the third quarter of 2026 the Company recorded approximately $ 78.6 million of refunds of previously paid IEEPA tariffs as a reduction of cost of goods sold.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

This math also assumes no more refunds come in the fourth quarter. Levi says it is still assessing refunds in later phases, and any the goal counts would make the refund share larger. [Q02b][Q02b] Form 10-Q, Note 10Approximately $ 57.1 million of those refunds were received by August 30, 2026 and the remaining amount is recorded as a receivable in the consolidated balance sheet. The Company continues to assess loss recovery on tariff refunds under future phases.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm The margin goal tells the same story. Adjusted EBIT is profit before interest, taxes, other income and restructuring costs. Levi now expects it to be about 12.1% of sales, up from 12% in July. [E30][E30] Q3 release, non-GAAP definitionsNet income from continuing operations excluding income tax expense, interest expense, other income (expense), net, goodwill impairment charges, restructuring charges, net, and restructuring related charges and other, netLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E10][E10] Q3 release, fiscal 2026 guidance tableAdjusted EBIT margin Expanding to approximately 12.1%, up 70 basis points to prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E10b][E10b] Q3 release, fiscal 2026 guidance tableExpanding to 12%, up 60 basis points to prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm By our math, the refunds so far, net of the $60 million spent back, add about 0.3 points. So without them the goal is about 11.8%, a little under July's 12%. [Q06][Q06] Form 10-Q, management's discussionFor the nine-month period ended August 30, 2026, the increase in gross margin includes the IEEPA tariff refund benefit of $80.7 millionLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R01][R01] Q4 2025 release, highlights tableNet revenues $ 1,766 $ 1,750 1% 5% $ 6,282 $ 6,032 4% 7%Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [E08][E08] Q3 release, fiscal 2026 guidance tableReported net revenues growth Approximately 7.0%, due to the impact of foreign exchange 7.0% to 7.5%Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E10][E10] Q3 release, fiscal 2026 guidance tableAdjusted EBIT margin Expanding to approximately 12.1%, up 70 basis points to prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E10b][E10b] Q3 release, fiscal 2026 guidance tableExpanding to 12%, up 60 basis points to prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

Levi's own stores and websites are at the center of its plan, and they cooled. [Q23][Q23] Form 10-Q, other factorsAs we continue to execute on our strategic framework to be DTC FirstLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Comparable sales there, which count stores and sites open at least a year, were flat. They had grown 7% in the first quarter and 6% in the second. [E13][E13] Q3 release, third quarter highlightsDTC comparable sales growth was flat.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E14][E14] Q3 release, key metricsmeasuring year‑over‑year changes in net revenues for stores open for at least 12 full fiscal monthsLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R11][R11] Q1 release, first quarter highlightsDTC comparable sales growth was 7%.Levi Strauss & Co. first quarter 2026 results release, Exhibit 99.1 to Form 8-K, April 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000021/exhibit991-1q2026pressrele.htm [R23][R23] Q2 release, second quarter highlightsDTC comparable sales growth was 6%.Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm Sales in the United States fell 1%, after rising 5% in the second quarter. Online sales grew 10%, down from 19% in the second quarter. [E12][E12] Q3 release, third quarter highlightsWithin the Americas, the U.S. decreased 1% on a reported basis.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R24][R24] Q2 release, second quarter highlightsWithin the Americas, the U.S. increased 5% on a reported basis.Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm [E39][E39] Q3 release, third quarter highlightsNet revenues from e-commerce grew 10% on a reported and organic basis.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R25][R25] Q2 release, second quarter highlightsNet revenues from e-commerce grew 19% on a reported basis and 17% on an organic basis.Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm

Levi pointed to slower store traffic in the Americas and softer store traffic in Europe. [Q07][Q07] Form 10-Q, management's discussion, AmericasFor the three-month period ended August 30, 2026, DTC revenues increased slightly due to store expansion and growth in e-commerce which were largely offset by slower traffic in our company-operated stores.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q08][Q08] Form 10-Q, management's discussion, EuropeFor the three-month period ended August 30, 2026, DTC revenues decreased primarily due to lower store performance driven by softer traffic, and wholesale revenues increased due to higher volumes.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Chief executive Michelle Gass said this business fell short of the company's own expectations. She said recent trends have sped up and expects mid-single-digit growth there in the fourth quarter, which is a goal. [E15][E15] Q3 release, chief executive's statementWhile our direct-to-consumer business fell short of our internal expectations, we moved quickly to address the shortfall and are encouraged by the strength we are seeing heading into the holiday season, including in the U.S.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E16][E16] Q3 release, chief executive's statementBased on the acceleration in recent trends, our DTC business is on track to deliver mid-single-digit growth in the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

Other parts did well. Wholesale sales rose 6%, with strength in Europe and Asia, and Asia's sales rose 10% without currency swings. [E17][E17] Q3 release, third quarter highlightsWholesale net revenues increased 6% on a reported and organic basis, driven by growth in all segments, with particularly strong performance in Europe and Asia.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E38][E38] Q3 release, third quarter highlightsIn Asia, net revenues increased 5% on a reported basis and 10% on an organic basis.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm For the year, Levi now expects organic growth, which strips out currency swings and sold or closed brands, of about 6.0%, the top of its old range. But it trimmed reported growth to about 7.0%, the bottom of its old range, because of currency. [E09][E09] Q3 release, fiscal 2026 guidance tableOrganic net revenues growth Approximately 6.0% 5.5% to 6.0%Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E08][E08] Q3 release, fiscal 2026 guidance tableReported net revenues growth Approximately 7.0%, due to the impact of foreign exchange 7.0% to 7.5%Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

On our math, the 7.0% goal implies about $1.81 billion of revenue in the holiday quarter, usually Levi's biggest. That is up about 2% from $1.77 billion a year earlier. [E08][E08] Q3 release, fiscal 2026 guidance tableReported net revenues growth Approximately 7.0%, due to the impact of foreign exchange 7.0% to 7.5%Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R01][R01] Q4 2025 release, highlights tableNet revenues $ 1,766 $ 1,750 1% 5% $ 6,282 $ 6,032 4% 7%Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [E37][E37] Q3 release, income statementNet revenues $ 1,609.7 $ 1,543.4 $ 4,914.2 $ 4,516.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q22][Q22] Form 10-Q, seasonalityWe typically achieve our largest quarterly revenues in the fourth quarter.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm The profit goal implies fourth-quarter adjusted profit of $0.35 to $0.37 a share, below $0.41 a year earlier. Adding back the roughly $0.07 of planned spending gives about $0.42 to $0.44. [E01][E01] Q3 release, fiscal 2026 guidance tableAdjusted diluted EPS Raised to $1.54 to $1.56Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q19][Q19] Form 10-Q, management's discussionCompared to the first nine months of 2025, Adjusted diluted earnings per share increased to $1.19 from $0.94Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [R02][R02] Q4 2025 release, fourth quarter highlightsAdjusted diluted earnings per share was $0.41 compared to $0.49 in Q4 2024.Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E11][E11] Q3 release, fiscal 2026 guidance tableTax rate Approximately 23%, 2 points higher than prior yearLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E33][E33] Q3 release, income statementDiluted 390,620,582 399,529,649 392,098,306 400,401,333Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Levi also says its inventory costs in the United States have generally risen and may rise further. [Q05][Q05] Form 10-Q, management's discussionthe cost of our inventory in the U.S. has generally increased and may increase further in the future.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

On August 30, Levi had $641.4 million of cash and $137.9 million of short-term investments. About $382.0 million of the cash was held abroad. [Q11][Q11] Form 10-Q, liquidityOf our $641.4 million in cash and cash equivalents, approximately $382.0 million was held by foreign subsidiaries.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E50][E50] Q3 release, balance sheetShort-term investments in marketable securities 137.9 90.9Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Its bank credit line had $696.7 million unused and nothing drawn. Debt was about $1.04 billion of fixed-rate bonds, the first due on August 15, 2030. [Q10][Q10] Form 10-Q, liquidityAs of August 30, 2026, we did not have any borrowings under the Credit Facility. Unused availability under the facility was $696.7 millionLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E32][E32] Q3 release, balance sheetLong-term debt 1,043.6 1,039.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q09][Q09] Form 10-Q, indebtednessOf our total debt of $1.0 billion as of August 30, 2026, 100% was fixed-rate debt. As of August 30, 2026, our required aggregate debt principal payments on our unsecured long-term debt were $1.1 billion, with payments starting in 2030.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [K06b][K06b] Form 10-K, Note on debtThe Senior Notes due 2030 will mature on August 15, 2030.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm

Debt minus cash was about $402 million. Adjusted EBITDA, which is adjusted EBIT before charges for wear on assets, was about $1.04 billion over the past year. So net debt was about 0.4 times it, even without the refunds. [E32][E32] Q3 release, balance sheetLong-term debt 1,043.6 1,039.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q11][Q11] Form 10-Q, liquidityOf our $641.4 million in cash and cash equivalents, approximately $382.0 million was held by foreign subsidiaries.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [K02][K02] Form 10-K, Adjusted EBITDA reconciliationAdjusted EBITDA $ 925.0 $ 833.8Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [E25][E25] Q3 release, Adjusted EBITDA reconciliationAdjusted EBITDA $ 303.4 $ 234.0 $ 774.8 $ 656.8Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E31][E31] Q3 release, non-GAAP definitionsAdjusted EBIT excluding depreciation and amortization expenseLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q06][Q06] Form 10-Q, management's discussionFor the nine-month period ended August 30, 2026, the increase in gross margin includes the IEEPA tariff refund benefit of $80.7 millionLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm On reported figures, operating profit plus those wear charges was about $976 million. Net debt was again about 0.4 times that. [E32][E32] Q3 release, balance sheetLong-term debt 1,043.6 1,039.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q11][Q11] Form 10-Q, liquidityOf our $641.4 million in cash and cash equivalents, approximately $382.0 million was held by foreign subsidiaries.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [K04][K04] Form 10-K, results of operationsOperating income 677.6 262.7Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [E40][E40] Q3 release, income statementOperating income 222.3 167.4 543.2 467.0Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [K02][K02] Form 10-K, Adjusted EBITDA reconciliationAdjusted EBITDA $ 925.0 $ 833.8Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [K02b][K02b] Form 10-K, Adjusted EBIT reconciliationAdjusted EBIT $ 719.0 $ 645.4Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [E25][E25] Q3 release, Adjusted EBITDA reconciliationAdjusted EBITDA $ 303.4 $ 234.0 $ 774.8 $ 656.8Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E26][E26] Q3 release, Adjusted EBIT reconciliationAdjusted EBIT $ 248.7 $ 182.3 $ 607.7 $ 505.6Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Operating profit covered the past year's $52.3 million of interest about 14 times. Store and office leases add about $1.29 billion of lease debts. [E43][E43] Q3 release, return on invested capital tableInterest expense 52.3 46.7Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [K04][K04] Form 10-K, results of operationsOperating income 677.6 262.7Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [E40][E40] Q3 release, income statementOperating income 222.3 167.4 543.2 467.0Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E41][E41] Q3 release, balance sheetShort-term operating lease liabilities 275.8 260.7Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E42][E42] Q3 release, balance sheetLong-term operating lease liabilities 1,011.1 1,005.6Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

The bank line is backed by Levi's trademarks, customer bills and inventory in the United States. The bonds are unsecured, so they rank behind the bank line on that collateral and behind all debts of Levi's subsidiaries. [K08][K08] Form 10-K, Note on debtThe obligations under the Credit Agreement are secured by specified domestic assets, including certain U.S. trademarks associated with the Levi's ® brand and accounts receivable, goods and inventory in the United States.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [K07][K07] Form 10-K, Note on debtThe Senior Notes due 2030 are not guaranteed by any of the Company's subsidiaries and are unsecured obligations.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [K07c][K07c] Form 10-K, Note on debtare effectively subordinated in right of payment to all of the Company's existing and future senior secured debt and other obligations (including the Credit Facility) to the extent of the value of the collateral securing such debtLevi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [K07b][K07b] Form 10-K, Note on debtare structurally subordinated to all obligations of each of the Company's subsidiaries.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm The line's one financial test, a fixed-charge cover of 1.0 times, applies only if unused room falls below a set level. Levi met all its debt covenants on August 30. [K08b][K08b] Form 10-K, Note on debtthe Credit Agreement includes, as a financial covenant, a springing fixed charge coverage ratio of 1.0 to 1.0, which arises when availability falls below a specified threshold.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [Q13][Q13] Form 10-Q, indebtednessWe were in compliance with all of these covenants as of August 30, 2026.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm As of November 30, 2025, S&P and Moody's rated its bonds one step below investment grade, the grade for safer borrowers. Fitch rated them at the lowest investment grade. [K12][K12] Form 10-K, risk factorsAs of November 30, 2025, our long-term debt was rated BB+ by S&P Global Ratings, Ba1 by Moody’s Investors Service, Inc and BBB- by Fitch Ratings, Inc.Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm Stock awards add about 4.5 million shares to the 386.1 million average share count. [Q18][Q18] Form 10-Q, Note 16Dilutive effect of stock awards 4,545,168 3,870,609 4,501,693 3,822,958Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q18b][Q18b] Form 10-Q, Note 16Weighted-average common shares outstanding - basic 386,075,414 395,659,040 387,596,613 396,578,375Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

Cash from operations in the first nine months was $585.2 million, up from $262.8 million. It included $57.1 million of refunds. [Q15][Q15] Form 10-Q, cash flowsCash provided by operating activities was $585.2 million for the nine-month period ended August 30, 2026, as compared to $262.8 million for the comparable period in 2025.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q15b][Q15b] Form 10-Q, cash flowsCash flows from operating activities for the nine-month period ended August 30, 2026 also included IEEPA tariff refunds received of $57.1 million.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Adjusted free cash flow was $427.3 million. That is Levi's measure of operating cash minus spending on property and equipment. [E28][E28] Q3 release, Adjusted free cash flow definitionAdjusted free cash flow, a non-GAAP financial measure, includes net cash flow from operating activities less purchases of property, plant and equipment from continuing and discontinued operations.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E27][E27] Q3 release, Adjusted free cash flow reconciliationAdjusted free cash flow $ 44.3 $ (39.4) $ 427.3 $ 92.5Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm But cash fell to $641.4 million on August 30 from $849.3 million at the end of May. Over nine months, Levi paid $179.7 million to settle currency contracts that were not formal hedges. About $174.6 million of that came in the third quarter. [Q11][Q11] Form 10-Q, liquidityOf our $641.4 million in cash and cash equivalents, approximately $382.0 million was held by foreign subsidiaries.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [R27][R27] Q2 release, cash flow statementEnding cash and cash equivalents $ 849.3 $ 653.6Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm [E55][E55] Q3 release, cash flow statement(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net (179.7) 37.1Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R26][R26] Q2 release, cash flow statement(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net (5.1) 36.6Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm Those payments sit outside adjusted free cash flow. Counting them, free cash flow for the nine months was about $248 million. [E27][E27] Q3 release, Adjusted free cash flow reconciliationAdjusted free cash flow $ 44.3 $ (39.4) $ 427.3 $ 92.5Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E55][E55] Q3 release, cash flow statement(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net (179.7) 37.1Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm The quarterly report says only that the payments reflect higher currency contract settlements. Its contracts run through November 2027. [Q32][Q32] Form 10-Q, cash flows from investing activitiesprimarily due to higher foreign exchange contract settlements in 2026Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q31][Q31] Form 10-Q, Note 5These contracts are at various exchange rates and expire at various dates through November 2027.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

Levi pays a $0.16 dividend each quarter, about $61 million, with the next one due November 4. [E24][E24] Q3 release, shareholder returnsThe company declared a dividend of $0.16 per share, a 14% increase over prior year, totaling approximately $61 million, payable in cash on November 4, 2026Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm The $169.3 million it has paid so far this year was about 39% of net income. Its target is 25% to 35%. [E44][E44] Q3 release, cash flow statementDividends to stockholders (169.3) (158.2)Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E45][E45] Q3 release, income statementNet income $ 168.6 $ 218.1 $ 431.7 $ 420.1Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q16][Q16] Form 10-Q, liquidity outlook(2) to return capital to our stockholders in the form of cash dividends, with a dividend payout ratio target of 25-35% of net incomeLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm In 2025, adjusted free cash flow was $308.2 million. It covered $213 million of dividends about 1.4 times. It did not cover the $363 million paid out with buybacks. [K03][K03] Form 10-K, Adjusted free cash flow reconciliationAdjusted free cash flow $ 308.2 $ 670.9Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [R06][R06] Q4 2025 release, shareholder returnsDividends of $213 million, representing an annual dividend of $0.54 per share, up 7% from prior year;Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [R05][R05] Q4 2025 release, shareholder returnsFor the full year, the company returned $363 million to shareholders, a 26% increase over prior year, including:Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm

Levi now plans a $100 million accelerated buyback. It had $240 million left under its buyback approval on August 30. In its $200 million deal earlier this year, a bank delivered 80% of the shares up front and the rest later. [E23][E23] Q3 release, shareholder returnsAs of August 30, 2026, the company had $240 million remaining under its current share repurchase authorization, which has no expiration date. In line with the company’s capital allocation strategy, the company intends to enter into an ASR agreement to repurchase $100 million of its Class A common stock.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q17][Q17] Form 10-Q, cash usesAt inception, we made an initial payment of $200.0 million and received and immediately retired 7.8 million shares of our Class A common stock, representing 80% of the dollar amount of the transaction, which had an aggregate cost of $160.0 million based on the January 29, 2026 closing share price.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q28][Q28] Form 10-Q, cash usesThe Company settled the 2026 ASR Agreement in the third quarter of 2026 and received and immediately retired an additional 1.6 million shares.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm That deal cost $201.0 million with tax. Levi got 9.4 million shares, at an average of $21.32. [E46][E46] Q3 release, cash flow statementAccelerated share repurchase, including excise tax (201.0) (120.0)Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E56][E56] Q3 release, shareholder returnstook delivery of and retired approximately 1.6 million shares for a total of 9.4 million shares over the entirety of the ASR programLevi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q17c][Q17c] Form 10-Q, cash usesThe average price paid per share over the transaction’s term was $21.32.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm The buyback is about 1.3% of Levi's stock market value. That value was about $7.9 billion at the October 6 close, on about 383.5 million shares. [E23][E23] Q3 release, shareholder returnsAs of August 30, 2026, the company had $240 million remaining under its current share repurchase authorization, which has no expiration date. In line with the company’s capital allocation strategy, the company intends to enter into an ASR agreement to repurchase $100 million of its Class A common stock.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q01][Q01] Form 10-Q, cover pageAs of September 30, 2026, the registrant had 99,502,081 shares of Class A common stock, $0.001 par value per share and 283,967,658 shares of Class B common stock, $0.001 par value per share, outstanding.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [P02][P02] IEX closing pricesLEVI closed at $20.54 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/

Levi filed after the market closed on October 7, and our price data ends on October 6, so these prices do not reflect the news. [N01][N01] Form 8-K, Item 2.02On October 7, 2026, Levi Strauss & Co. (the "Company") issued a press release announcing its third quarter 2026 financial results.Levi Strauss & Co. Form 8-K furnishing third quarter 2026 results, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/levi-20261007.htm [I01][I01] EDGAR filing indexAccepted 2026-10-07 16:12:53EDGAR filing index for the Levi Strauss & Co. Form 8-K of October 7, 2026, showing its acceptance timeOpen exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/0000094845-26-000048-index.html [P02][P02] IEX closing pricesLEVI closed at $20.54 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ Levi closed at $20.54 on October 6, up 3.6% from $19.825 on September 15. Over the same days, a consumer stock fund, XLY, rose 0.8%, denim rival Kontoor Brands (KTB) fell about 2%, and PVH rose 9.2%. [P01][P01] IEX closing pricesLEVI closed at $19.825 on September 15, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P02][P02] IEX closing pricesLEVI closed at $20.54 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P03][P03] IEX closing pricesXLY closed at $110.86 on September 15, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P04][P04] IEX closing pricesXLY closed at $111.755 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P05][P05] IEX closing pricesKTB closed at $67 on September 15, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P06][P06] IEX closing pricesKTB closed at $65.76 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P07][P07] IEX closing pricesPVH closed at $71.615 on September 15, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [P08][P08] IEX closing pricesPVH closed at $78.205 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/

At $20.54, Levi traded at about 13 times the middle of its new profit goal, with a dividend of about 3.1% a year. [P02][P02] IEX closing pricesLEVI closed at $20.54 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [E01][E01] Q3 release, fiscal 2026 guidance tableAdjusted diluted EPS Raised to $1.54 to $1.56Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E24][E24] Q3 release, shareholder returnsThe company declared a dividend of $0.16 per share, a 14% increase over prior year, totaling approximately $61 million, payable in cash on November 4, 2026Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Counting debt and subtracting cash and investments, its value was about 7.8 times its past year's adjusted EBITDA. [Q01][Q01] Form 10-Q, cover pageAs of September 30, 2026, the registrant had 99,502,081 shares of Class A common stock, $0.001 par value per share and 283,967,658 shares of Class B common stock, $0.001 par value per share, outstanding.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [P02][P02] IEX closing pricesLEVI closed at $20.54 on October 6, 2026 (IEX)IEX closing prices for LEVI, XLY, KTB and PVH, September 15 and October 6, 2026Open source ↗https://iextrading.com/trading/market-data/ [E32][E32] Q3 release, balance sheetLong-term debt 1,043.6 1,039.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q11][Q11] Form 10-Q, liquidityOf our $641.4 million in cash and cash equivalents, approximately $382.0 million was held by foreign subsidiaries.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E50][E50] Q3 release, balance sheetShort-term investments in marketable securities 137.9 90.9Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [K02][K02] Form 10-K, Adjusted EBITDA reconciliationAdjusted EBITDA $ 925.0 $ 833.8Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [E25][E25] Q3 release, Adjusted EBITDA reconciliationAdjusted EBITDA $ 303.4 $ 234.0 $ 774.8 $ 656.8Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

The case for: Levi still grew 5% without currency swings as American shoppers slowed, helped by wholesale and Asia. [E18][E18] Q3 release, third quarter highlightsNet Revenues of $1.6 billion increased 4% on a reported basis and 5% on an organic basis versus Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E17][E17] Q3 release, third quarter highlightsWholesale net revenues increased 6% on a reported and organic basis, driven by growth in all segments, with particularly strong performance in Europe and Asia.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E38][E38] Q3 release, third quarter highlightsIn Asia, net revenues increased 5% on a reported basis and 10% on an organic basis.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E12][E12] Q3 release, third quarter highlightsWithin the Americas, the U.S. decreased 1% on a reported basis.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Its net debt is only about 0.4 times a year of adjusted EBITDA. Adjusted free cash flow of $427.3 million covered this year's dividends and buyback. [E32][E32] Q3 release, balance sheetLong-term debt 1,043.6 1,039.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q11][Q11] Form 10-Q, liquidityOf our $641.4 million in cash and cash equivalents, approximately $382.0 million was held by foreign subsidiaries.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [K02][K02] Form 10-K, Adjusted EBITDA reconciliationAdjusted EBITDA $ 925.0 $ 833.8Levi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm [E25][E25] Q3 release, Adjusted EBITDA reconciliationAdjusted EBITDA $ 303.4 $ 234.0 $ 774.8 $ 656.8Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E27][E27] Q3 release, Adjusted free cash flow reconciliationAdjusted free cash flow $ 44.3 $ (39.4) $ 427.3 $ 92.5Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E44][E44] Q3 release, cash flow statementDividends to stockholders (169.3) (158.2)Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E46][E46] Q3 release, cash flow statementAccelerated share repurchase, including excise tax (201.0) (120.0)Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Counting the currency payments, it was about $248 million, short of the $370 million paid out. Part of the buyback was paid for with money from selling Dockers. [E27][E27] Q3 release, Adjusted free cash flow reconciliationAdjusted free cash flow $ 44.3 $ (39.4) $ 427.3 $ 92.5Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E55][E55] Q3 release, cash flow statement(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net (179.7) 37.1Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E44][E44] Q3 release, cash flow statementDividends to stockholders (169.3) (158.2)Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E46][E46] Q3 release, cash flow statementAccelerated share repurchase, including excise tax (201.0) (120.0)Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q30][Q30] Form 10-Q, cash usesWe used a portion of the net proceeds from the sale of Dockers ® remaining operations to fund the upfront payment due under the 2026 ASR Agreement.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Gass says she sees strength heading into the holiday season, including in the United States. [E15][E15] Q3 release, chief executive's statementWhile our direct-to-consumer business fell short of our internal expectations, we moved quickly to address the shortfall and are encouraged by the strength we are seeing heading into the holiday season, including in the U.S.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

The case against, strongest first. The own-store business at the heart of Levi's plan stalled, and American sales shrank. [Q23][Q23] Form 10-Q, other factorsAs we continue to execute on our strategic framework to be DTC FirstLevi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E13][E13] Q3 release, third quarter highlightsDTC comparable sales growth was flat.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E12][E12] Q3 release, third quarter highlightsWithin the Americas, the U.S. decreased 1% on a reported basis.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Most of the raise rests on one-time refunds, and some of that money paid for promotions that may not repeat. New tariffs may keep raising inventory costs. [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E06][E06] Q3 release, footnote 2During the third quarter of 2026, the company redeployed IEEPA tariff refunds to support the business including additional promotion and marketing expenditures. This resulted in an additional $25 million of expense during the third quarter of 2026, of which $19 million impacted gross margin and $6 million impacted SG&A.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q03][Q03] Form 10-Q, management's discussionFollowing the U.S. Supreme Court ruling, the U.S. government announced on July 23, 2026, new tariffs under Section 301 of the Trade Act of 1974 on most imports from certain countries, effective upon the expiration of the previous temporary Section 122 tariffs.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q05][Q05] Form 10-Q, management's discussionthe cost of our inventory in the U.S. has generally increased and may increase further in the future.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm The goal implies lower fourth-quarter adjusted profit than a year ago, and a new finance chief starts during the holiday season. The founder's family controls the vote. [E01][E01] Q3 release, fiscal 2026 guidance tableAdjusted diluted EPS Raised to $1.54 to $1.56Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q19][Q19] Form 10-Q, management's discussionCompared to the first nine months of 2025, Adjusted diluted earnings per share increased to $1.19 from $0.94Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [R02][R02] Q4 2025 release, fourth quarter highlightsAdjusted diluted earnings per share was $0.41 compared to $0.49 in Q4 2024.Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [V01][V01] Press release, September 30, 2026today announced the appointment of John Vandemore as Executive Vice President and Chief Financial Officer, effective November 1, 2026.Levi Strauss & Co. press release appointing John Vandemore as chief financial officer, Exhibit 99.1 to Form 8-K, September 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000199937126021687/ex99-1.htm [K01][K01] Form 10-K, risk factorsOur Class B common stock, which is entitled to ten votes per share, is primarily owned by descendants of the family of our founder, Levi Strauss, and their relatives and trusts established for their behalf. Collectively, these persons have the ability to control the outcome of stockholder votesLevi Strauss & Co. annual report on Form 10-K for the year ended November 30, 2025, filed January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000008/lvis-20251130.htm

The refunds lowered the cost of goods, not revenue, so our call on revenue tests the business. [Q02c][Q02c] Form 10-Q, Note 10During the third quarter of 2026 the Company recorded approximately $ 78.6 million of refunds of previously paid IEEPA tariffs as a reduction of cost of goods sold.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm Our $6.68 billion bar is revenue so far this year plus last year's fourth quarter. So Levi only needs holiday-quarter sales to beat last year's $1.77 billion, and its own goal implies about 2% growth there. [E37][E37] Q3 release, income statementNet revenues $ 1,609.7 $ 1,543.4 $ 4,914.2 $ 4,516.2Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R01][R01] Q4 2025 release, highlights tableNet revenues $ 1,766 $ 1,750 1% 5% $ 6,282 $ 6,032 4% 7%Levi Strauss & Co. fourth quarter and fiscal 2025 results release, Exhibit 99.1 to Form 8-K, January 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000009/exhibit991-4q2025pressrele.htm [E08][E08] Q3 release, fiscal 2026 guidance tableReported net revenues growth Approximately 7.0%, due to the impact of foreign exchange 7.0% to 7.5%Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm Third-quarter revenue grew 4%, so we say yes, though a weak holiday season or a stronger dollar could still sink the call. [E18][E18] Q3 release, third quarter highlightsNet Revenues of $1.6 billion increased 4% on a reported basis and 5% on an organic basis versus Q3 2025.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm The annual report, which last year came on January 28, 2026, will settle it. It will also show whether own-store sales reached the growth Gass expects; if they stay flat, the slowdown is real. [Q24][Q24] Form 10-Q, management's discussionfiled with the Securities and Exchange Commission on January 28, 2026Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E16][E16] Q3 release, chief executive's statementBased on the acceleration in recent trends, our DTC business is on track to deliver mid-single-digit growth in the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

How much more refund money Levi may get in later phases, and whether the new goal counts any of it. [Q02b][Q02b] Form 10-Q, Note 10Approximately $ 57.1 million of those refunds were received by August 30, 2026 and the remaining amount is recorded as a receivable in the consolidated balance sheet. The Company continues to assess loss recovery on tariff refunds under future phases.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

How Levi itself would split the raise between refunds and the business; the split in this report is our own math.

Whether the July goal already counted any refunds.

Levi gave no monthly or United States comparable sales figure, and none for the quarter so far, to back Gass's goal. [E16][E16] Q3 release, chief executive's statementBased on the acceleration in recent trends, our DTC business is on track to deliver mid-single-digit growth in the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

How much third-quarter revenue the refund-funded promotions bought, and whether it will repeat. [E06][E06] Q3 release, footnote 2During the third quarter of 2026, the company redeployed IEEPA tariff refunds to support the business including additional promotion and marketing expenditures. This resulted in an additional $25 million of expense during the third quarter of 2026, of which $19 million impacted gross margin and $6 million impacted SG&A.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

How the $35 million of holiday-quarter spending splits between promotions and marketing. Whether any goes on in 2027. In the third quarter, $19 million of the $25 million hit gross margin. [E07][E07] Q3 release, fiscal 2026 guidanceGuidance includes the impact of IEEPA tariff refunds of which the company is redeploying approximately $60 million for the full year, including approximately $35 million for the fourth quarter.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [E06][E06] Q3 release, footnote 2During the third quarter of 2026, the company redeployed IEEPA tariff refunds to support the business including additional promotion and marketing expenditures. This resulted in an additional $25 million of expense during the third quarter of 2026, of which $19 million impacted gross margin and $6 million impacted SG&A.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

Why Levi paid about $175 million on currency contracts in the third quarter. Whether any gain offset it, and what its open contracts could still cost. [E55][E55] Q3 release, cash flow statement(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net (179.7) 37.1Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [R26][R26] Q2 release, cash flow statement(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net (5.1) 36.6Levi Strauss & Co. second quarter 2026 results release, Exhibit 99.1 to Form 8-K, July 8, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000038/exhibit991-2q2026pressrele.htm [Q32][Q32] Form 10-Q, cash flows from investing activitiesprimarily due to higher foreign exchange contract settlements in 2026Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

Why other current assets rose to $463.7 million from $238.5 million at year end. Only about $21.5 million of that is refund still owed. [E57][E57] Q3 release, balance sheetOther current assets 463.7 238.5Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm [Q02c][Q02c] Form 10-Q, Note 10During the third quarter of 2026 the Company recorded approximately $ 78.6 million of refunds of previously paid IEEPA tariffs as a reduction of cost of goods sold.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm [Q02b][Q02b] Form 10-Q, Note 10Approximately $ 57.1 million of those refunds were received by August 30, 2026 and the remaining amount is recorded as a receivable in the consolidated balance sheet. The Company continues to assess loss recovery on tariff refunds under future phases.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

What the new tariffs announced on July 23 will cost Levi next year. [Q03][Q03] Form 10-Q, management's discussionFollowing the U.S. Supreme Court ruling, the U.S. government announced on July 23, 2026, new tariffs under Section 301 of the Trade Act of 1974 on most imports from certain countries, effective upon the expiration of the previous temporary Section 122 tariffs.Levi Strauss & Co. quarterly report on Form 10-Q for the quarter ended August 30, 2026, filed October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000047/lvis-20260830.htm

When the $100 million buyback starts, which bank runs it, and at what price. [E23][E23] Q3 release, shareholder returnsAs of August 30, 2026, the company had $240 million remaining under its current share repurchase authorization, which has no expiration date. In line with the company’s capital allocation strategy, the company intends to enter into an ASR agreement to repurchase $100 million of its Class A common stock.Levi Strauss & Co. third quarter 2026 results release, Exhibit 99.1 to Form 8-K, October 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/94845/000009484526000048/exhibit991-3q2026pressrele.htm

Levi's own target for debt against earnings. The filings we read give none.

How the stock traded on the news, and its range over the past year. Our price data runs only from September 15 to October 6.