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Levi Strauss & Co. Provides Business Update on COVID-19

03/16/2020

SAN FRANCISCO --(BUSINESS WIRE)-- Levi Strauss & Co. (NYSE: LEVI) today announced it will temporarily close its owned and operated retail locations in the United States and Canada as of Monday, March 16 , in response to the coronavirus and the guidance of public health officials in both countries. The company expects these stores to remain closed through March 27, 2020 . Store employees will be paid for all scheduled hours during the closure.

“We are facing an unprecedented global pandemic, and our first priority is to do the right thing for the health and safety of our employees and our consumers,” said Chip Bergh , president and chief executive officer of Levi Strauss & Co. “Effective immediately, we are electing to close our stores in the U.S. and Canada and encourage people to follow public health guidelines and take care of one another and their communities. We have faced many challenges in our 167-year history, and we will continue to navigate difficult times as we always have--by putting our people first and managing this business for the long term.”

These temporary closures do not affect the company’s online operations.

The company will provide a more detailed update during its fiscal first quarter 2020 earnings call scheduled for April 7, 2020 .

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. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's ® , Dockers ® , Signature by Levi Strauss & Co.™, and Denizen ® brands. Its products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,000 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2019 net revenues were $5.8 billion . For more information, go to http://levistrauss.com , and for company news and announcements go to http://investors.levistrauss.com .

Investor Contact:
Aida Orphan
Levi Strauss & Co.
(415) 501-6194
Investor-relations@levi.com

Media Contact:
Kelly Mason
Levi Strauss & Co.
(415) 501-7777
newsmediarequests@levi.com

Source: Levi Strauss & Co.


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