Although overall sales have fallen due to Covid pandemic store closures, the company said digital sales have risen by more than 40% and now account for more than a quarter of total revenue.
Levi Strauss CEO Chip Bergh said in a conference call Thursday with analysts that a “revival of denim” is stimulating his company and the entire casual wear industry.
Bergh said the “continuing trend toward randomization” is driving more consumers to buy jeans – even as more people are vaccinated against Covid-19 and more are starting to come out.
That’s why the company issued guidelines for the current quarter, which was also better than analysts expected.
“What we see is a combination of a lot of requests from people who are stuck at home and fat and who don’t shop too much, combined with an exuberance from the US economic stimulus,” Bergh told analysts.
“I feel much more confident today than I did a month ago about our ability to get through this pandemic in a much stronger position,” he added.
Bergh also said that Chinese sales are returning. He pointed out that the Wuhan company’s flagship store has returned to pre-pandemic sales levels.