Levi Strauss CFO explains the company's big 'DTC first' pivot

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Levi Strauss & Co. (LEVI) reported fourth-quarter results that were roughly in-line with estimates. The company also announced it plans to cut up to 15% of its corporate workforce as part of its plans to build out the direct to consumer (DTC) business. Levi Strauss & Co. Chief Financial Officer and Chief Growth Officer Harmit Singh sits down with Yahoo Finance Live to discuss the plans.  Singh says that DTC accounts for about 43% of the company's business and that it's "on the way to 55." However, "DTC first doesn't mean DTC only," Singh explains, adding "We work very well with our wholesale customers. We need them to enhance our distribution globally, because our stores cannot be present everywhere. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Stephanie Mikulich
Levi Strauss & Co. (LEVI) reported fourth-quarter results that were roughly in-line with estimates. The company also announced it plans to cut up to 15% of