By  on February 5, 2019

Levi Strauss & Co. capped off a very strong year with a bit of moderation as spending to build the company’s online business and higher advertising and compensation expenses weighed on fourth-quarter results.

“We had an outstanding year with reported net revenues of $5.6 billion, growing 14 percent year-over-year on a reported basis,” said Chip Bergh, president and chief executive officer of Levi Strauss & Co., in a statement. “It’s clear our strategies to diversify our product portfolio, expand our direct-to-consumer business, and deepen our connection with consumers worldwide have worked, resulting in both higher annual revenues and gross margins.”

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