Western consumer spending is facing a shock. Levi Strauss & Co. Class A's $10 billion performance target may be delayed.

It was reported by the media on Tuesday that despite the leading cowboy clothing brand Levi Strauss & Co. Class A (LEVI.US) expanding their store numbers, their goal of achieving $9 billion to $10 billion in revenue by 2027 will be delayed due to rising living costs and high interest rates severely impacting Western consumers. The denim manufacturer had originally set this ambitious goal for 2022. Levi Strauss & Co. Class A (Levi Strauss brand) operates over 1,200 company-owned physical stores in 38 countries worldwide, with reported net revenue of approximately $6.2 billion as of November 26, 2023, which is largely consistent with the same period last year. CEO Michelle Gass told the media in an interview that the company will "do sufficient homework again" before providing investors with a more precise revenue target timeline. Levi Strauss & Co. Class A officials did not immediately respond to requests for comment from journalists. In June, a senior executive at Levi Strauss & Co. Class A had said that the retailer was looking to open 100 new physical stores globally by 2024. The company's CFO and growth officer, Hamid Singh, stated in an interview that their set revenue growth target is likely to be "delayed for a few years." He told the media that although the target American consumers (with income of over $100,000 per year) that the company is aiming for are in "better shape" compared to earlier this year, shoppers focusing more on costs still face pressure on consumer spending. Media reports mentioned that CEO Gass plans to attract more female shoppers by selling more dresses and skirts, noting that currently women shoppers only make up one-third of their total customer base.