Levi Strauss keeps high liquidity; leverage ratio creeps down to 1.1x

By Devika Patel

Knoxville, Tenn., July 8 – Levi Strauss & Co. has strong overall liquidity of $1.5 billion as of May 29 and a multi-decade low leverage ratio.

“Cash and liquidity remain strong, with end of the quarter net debt of $306 million and overall liquidity of $1.5 billion,” executive vice president and chief financial officer Harmit Singh said on the company’s second quarter ended May 29 earnings conference call on Thursday.

“Our leverage ratio remained at a multi-decade low of 1.1x,” he said.

The company’s leverage ratio was 1.1x at the end of the second quarter of fiscal 2022, compared to 2x at the end of the second quarter of fiscal 2021.

Cash and cash equivalents were $601.87 million as of May 29, 2022, compared to $810,266,000 as of Nov. 28, 2021.

Long-term debt was $998,484,000 as of May 29, 2022, compared to $1,020,700,000 as of Nov. 28, 2021.

Levi Strauss is a San Francisco-based clothing company.

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