Levi Strauss CEO Michelle Gass says any price – Business News
Levi Strauss & Co. CEO Michelle Gass mentioned that any price hikes the company makes on account of President Donald Trump’s tariffs can be “surgical.”
Gass, on an earnings call Monday, advised analysts that the state of affairs round tariffs is “very new” and “fluid” and that the company is simply “getting our arms around it.”
She stopped short of specifying what these price will increase would seem like, saying “as we look at pricing, we do believe that the brand, especially given the health of the brand, that there is pricing power there. But if we do anything, it will be very surgical,” Gass mentioned during the call.
Gass took over the helm in 2024 because the struggling retailer introduced a multiyear world productiveness initiative to show across the business and enhance profitability.
Under the initiative, referred to as Project Fuel, the retailer plans to optimize its working model and construction, redesign business processes and determine alternatives to scale back prices whereas simplifying processes throughout the group. It has since laid off dozens of staff out of its California workplace, and warned that more may come.
Gass mentioned that any price hikes the company makes on account of President Donald Trump’s tariffs can be “surgical.” dpa/image alliance by way of Getty Images
Gass took over the helm in 2024 because the struggling retailer introduced a multiyear world productiveness initiative to show across the business. Stockfotos-MG – stock.adobe.com
With tariffs including to its woes, Gass advised analysts Monday that the company has assembled a process drive to evaluate “the various scenarios and identifying what levers we have to mitigate,” which may embrace “structural changes.”
The company sources from 28 international locations, 20 of that are imported into the U.S. However, Gass mentioned the company’s provide chain “is more agile today than it ever has been” and that it “pivots” all of the time.
“We will continue to do so as we look to address the issues both in the short, medium and long-term,” Gass mentioned.
Gass advised analysts that the state of affairs round tariffs is “very new” and “fluid” and that the company is simply “getting our arms around it.” Getty Images
The company sources from 28 international locations, 20 of that are imported into the U.S. OceanProd – stock.adobe.com
Business executives have warned of the potential impression tariffs may have on the U.S. economic system.
BlackRock CEO Larry Fink mentioned on Monday that the stock market may see declines deepen on account of uncertainty over Trump’s tariffs and that CEOs are telling him they suppose the U.S. economic system is probably going already in a recession.
Also on Monday, JPMorgan Chase CEO Jamie Dimon advised shareholders that the levies are more likely to “increase inflation” on each overseas and home items, and raised considerations over what their impression shall be on America’s financial alliances.
