{
 "company": "Levi Strauss & Co.",
 "ticker": "LEVI",
 "sector": "apparel and footwear",
 "fiscalYearEnd": null,
 "revenueUsdM": 6282.0,
 "normalizedSga": {
  "pctRevenue": 43.56,
  "peerCount": 14,
  "peerMedianPctRevenue": 37.7,
  "peerLeanQuartilePctRevenue": 28.4,
  "peers": [
   {
    "ticker": "COLM",
    "name": "Columbia Sportswear Company",
    "normalizedSgaPctRevenue": 37.74
   },
   {
    "ticker": "CROX",
    "name": "Crocs, Inc.",
    "normalizedSgaPctRevenue": 25.89
   },
   {
    "ticker": "DECK",
    "name": "Deckers Outdoor Corporation",
    "normalizedSgaPctRevenue": 24.31
   },
   {
    "ticker": "FIGS",
    "name": "FIGS, Inc.",
    "normalizedSgaPctRevenue": 45.73
   },
   {
    "ticker": "KTB",
    "name": "Kontoor Brands, Inc.",
    "normalizedSgaPctRevenue": 28.43
   },
   {
    "ticker": "OXM",
    "name": "Oxford Industries, Inc.",
    "normalizedSgaPctRevenue": 48.31
   },
   {
    "ticker": "PVH",
    "name": "PVH Corp.",
    "normalizedSgaPctRevenue": 44.65
   },
   {
    "ticker": "RL",
    "name": "Ralph Lauren Corporation",
    "normalizedSgaPctRevenue": 46.06
   },
   {
    "ticker": "SGC",
    "name": "Superior Group of Companies, Inc.",
    "normalizedSgaPctRevenue": 35.23
   },
   {
    "ticker": "UAA",
    "name": "Under Armour, Inc.",
    "normalizedSgaPctRevenue": 36.08
   },
   {
    "ticker": "VFC",
    "name": "V.F. Corporation",
    "normalizedSgaPctRevenue": 39.62
   },
   {
    "ticker": "VNCE",
    "name": "Vince Holding Corp.",
    "normalizedSgaPctRevenue": 41.83
   },
   {
    "ticker": "VSCO",
    "name": "Victoria's Secret & Company",
    "normalizedSgaPctRevenue": 25.45
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "advertising",
   "label": "Advertising",
   "pctRevenue": 6.96,
   "companiesDisclosing": 13,
   "peersDisclosing": [
    {
     "ticker": "COLM",
     "pctRevenue": 6.48
    },
    {
     "ticker": "CROX",
     "pctRevenue": 9.74
    },
    {
     "ticker": "DECK",
     "pctRevenue": 9.06
    },
    {
     "ticker": "FIGS",
     "pctRevenue": 14.75
    },
    {
     "ticker": "KTB",
     "pctRevenue": 6.04
    },
    {
     "ticker": "OXM",
     "pctRevenue": 7.04
    },
    {
     "ticker": "PVH",
     "pctRevenue": 5.54
    },
    {
     "ticker": "RL",
     "pctRevenue": 7.82
    },
    {
     "ticker": "UAA",
     "pctRevenue": 10.11
    },
    {
     "ticker": "VFC",
     "pctRevenue": 8.84
    },
    {
     "ticker": "VNCE",
     "pctRevenue": 4.8
    },
    {
     "ticker": "VSCO",
     "pctRevenue": 6.79
    }
   ],
   "note": "Brand spend is not the overhead question here."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 1.3,
   "companiesDisclosing": 14,
   "peersDisclosing": [
    {
     "ticker": "COLM",
     "pctRevenue": 0.71
    },
    {
     "ticker": "CROX",
     "pctRevenue": 0.91
    },
    {
     "ticker": "DECK",
     "pctRevenue": 0.82
    },
    {
     "ticker": "FIGS",
     "pctRevenue": 4.26
    },
    {
     "ticker": "KTB",
     "pctRevenue": 1.24
    },
    {
     "ticker": "OXM",
     "pctRevenue": 1.06
    },
    {
     "ticker": "PVH",
     "pctRevenue": 0.49
    },
    {
     "ticker": "RL",
     "pctRevenue": 1.37
    },
    {
     "ticker": "SGC",
     "pctRevenue": 0.94
    },
    {
     "ticker": "UAA",
     "pctRevenue": 0.92
    },
    {
     "ticker": "VFC",
     "pctRevenue": 0.8
    },
    {
     "ticker": "VNCE",
     "pctRevenue": 0.13
    },
    {
     "ticker": "VSCO",
     "pctRevenue": 0.84
    }
   ],
   "note": "Above the peer median; equity compensation adds to the overhead load."
  },
  {
   "key": "restructuring",
   "label": "Restructuring",
   "pctRevenue": 0.39,
   "companiesDisclosing": 14,
   "peersDisclosing": [
    {
     "ticker": "COLM",
     "pctRevenue": 0.0
    },
    {
     "ticker": "CROX",
     "pctRevenue": 0.0
    },
    {
     "ticker": "DECK",
     "pctRevenue": 0.0
    },
    {
     "ticker": "FIGS",
     "pctRevenue": 0.0
    },
    {
     "ticker": "KTB",
     "pctRevenue": 1.72
    },
    {
     "ticker": "OXM",
     "pctRevenue": 0.0
    },
    {
     "ticker": "PVH",
     "pctRevenue": 0.0
    },
    {
     "ticker": "RL",
     "pctRevenue": 0.0
    },
    {
     "ticker": "SGC",
     "pctRevenue": 0.0
    },
    {
     "ticker": "UAA",
     "pctRevenue": 2.57
    },
    {
     "ticker": "VFC",
     "pctRevenue": 0.45
    },
    {
     "ticker": "VNCE",
     "pctRevenue": 0.0
    },
    {
     "ticker": "VSCO",
     "pctRevenue": 0.0
    }
   ],
   "note": "$24M of filed restructuring charges run in line with the typical peer, counted wherever they sit on the P&L; one-time charges are stripped from the Exhibit 2 number either way."
  }
 ],
 "gapToPeers": {
  "toPeerMedian": {
   "usdM": 307,
   "bps": 488
  },
  "toLeanQuartile": {
   "usdM": 844,
   "bps": 1343
  }
 },
 "tsrBridge": [
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": 47,
   "peerTsrPct": 20,
   "driverPp": {
    "Revenue growth": -9.7,
    "Gross margin": 29.4,
    "SG&A": 15.4,
    "Multiple": -10.4,
    "Other": 2.3
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/LEVI",
  "json": "https://sgabenchmarking.com/r/LEVI.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}