Levi Strauss & Co has provided an upgraded outlook for the full year after recording double-digit sales growth in the first quarter, marked by strong performances across all markets.

The denim-first retailer now expects FY26 net revenues to grow 5.5-6.5 per cent on a reported basis and 4.5-5 per cent on an organic basis. It previously forecast a 5-6 per cent reported sales growth and 4-5 per cent organic increase.

Adjusted EBIT margin is expected to expand to approximately 12 per cent, up from the previous guidance range of 11.8-12 per cent.

For the first quarter ended March 1, net revenues increased 14 per cent on a reported basis and 9 per cent on an organic basis to $1.7 billion. This marked a significant improvement compared to the modest 1 per cent uplift in the preceding quarter.

In the Americas, reported sales rose 9 per cent, with the US up 4 per cent. Europe revenues soared 24 per cent, and Asia sales jumped 13 per cent.

DTC (direct-to-consumer) net revenues increased 16 per cent, with the US up 10 per cent, Europe up 19 per cent and Asia up 18 per cent.

On the bottom line, net income from continuing operations rose from $140 million a year ago to $177 million.

“We delivered very strong financial performance in the first quarter, driven by broad-based growth across channels, regions and categories,” said Michelle Gass, president and CEO of Levi Strauss & Co. 

“Our evolution into a DTC-first denim lifestyle brand is allowing us to capture a much larger addressable market and deliver faster and more consistent growth. Today we are operating from a stronger foundation, executing with focus and intention, with more ways to win than ever before.”

The company also announced that EVP and chief financial and growth officer Harmit Singh will retire. A search for his successor has commenced.