Levi Strauss CEO says price increases will be “very surgical”
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Levi Strauss & Co. CEO Michelle Gus said the prices offered by the company through President Donald Trump’s tariffs will be “surgical.”
Gass told analysts in a revenue call Monday that the tariff situation was “very new” and “fluid” and that the company is “wrapping its arms.”
She stopped specifying what these price increases would look like. “When I look at pricing, I believe they have pricing capabilities, especially when considering the health of the brand.
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Gas took over the helm in 2024 as a struggling retailer announced a multi-year global productivity initiative. Increase business and profitability.
Levi’s tag can be seen on pants hanging from Levi Strauss’s store in New York City. (Reuters/Brendan McDermid/File Photo/Reuters Photo)
Under an initiative called Project Fuel, retailers plan to optimize operational models and structures, redesign business processes, and identify opportunities to reduce costs while simplifying processes across the organization. Since then, he has fired dozens of workers from his California offices, warning that more workers will come.
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Tariffs struggled, Gus told analysts on Monday that the company had “also gathered a task force to assess various scenarios and identify levers that must be mitigated that could include ‘structural changes’.
Michelle Gas will speak at Fortune’s Most Powerful Women’s Summit, held in Washington, DC on October 23, 2019. (Sarah Silbiger/Bloomberg via Getty Images)
Gas has been imported into the US from 28 countries, and Gas said its supply chain is “more agile than ever and has been “pivoted” to date.
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“We will continue to do so as we are trying to address issues both in the short, medium and long term,” Gus said.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Levy | Levi Strauss & Co. | 13.50 | -0.39 |
-2.81% |
Executives have warned of the potential impact of tariffs on the US economy.
BlackRock CEO Larry Fink said Monday that the stock market could fall due to uncertainty about Trump’s tariffs, and that the CEO told him he thinks the US economy is already in a recession.
Also, on Monday, JPMorgan Chase CEO Jamie Dimon He told shareholders that taxation would likely “inflation increases” in both foreign and domestic products, raising concerns about what their impact would be on the American economic alliance.