levi strauss  co reported earnings for the fourth quarter of 2022 on wednesday heres what you need to know revenue levi strauss posted revenue of 159 billion in the fourth quarter of fiscal 2022 down 6 from a year earlier this compares with analysts expectations of 157 billion for the period according to factset adjusted earnings per share stripping out onetime items the san franciscobased jeans makers earnings per share for the three months ended nov 27 2022 came in at 34 cents a share analysts polled by factset had forecast adjusted earnings per share of 29 cents regional sales the companys directtoconsumer revenue fell 2 on a reported basis in the quarter as strong growth in its operated stores in the americas region and asia wasnt enough to offset declines in europe  mainly linked to store closures in russia levi strauss said wholesale revenue also fell 8 on a reported basis excluding the effects of currency strong growth in asia and latin america was more than offset by wholesale declines in the us and europe the company added gross margin levi strausss fourthquarter gross margin was 558 down from 578 a year earlier while adjusted gross margin declined 230 basis points an unfavorable currency exchange accounted for about 100 basis points of the decline it added the balance reflects the impact of higher product costs and lower fullpriced sales partially offset by price increases and favorable channel mix the company said guidance for 2023 the company expects net revenue between 63 billion to 64 billion which reflects revenue growth in the range of 15 to 3 from the prior year it also predicts fullyear adjusted earnings per share between 130 and 140 inventory levels the companys fourthquarter inventory levels increased 58 over the prior year in line with management expectations we believe that 4q inventory growth will be the high point and expect to bring inventory back to normal levels by the end of 2q levi strauss added