Levi Strauss CEO: Fundamentally, our strategies are working

In an interview on CNBC’s Mad Money, Chip Bergh said doubling down on the direct to consumer business is driving growth. It’s now 39% of revenues, with a goal of 55%. The company has good momentum and he’s "really optimistic" about 2023. The 501 brand has been a great driver of growth, he noted. Bergh sees tremendous opportunity to "premiumize" the U.S. He said once the board says so, he will step aside as CEO.