Levi Strauss (LEVI) plans to open 100 new stores over the next year as it aims to become a $10 billion brand.
Levi's made the announcement during its first quarterly earnings report since re-entering the public market last month.
The retailer said it plans to spend up to $200 million next year to open new stores and invest in other areas of the business. Levi's runs more than 800 stores around the world today and brought in $5.6 billion in sales last year.
During Levi's most recent quarter ending in late February, sales grew 7% compared with the same time last year. That included a 9% increase in its Americas division— Levi's largest region— and an 8% increase in Asia.
Levi's sales at its own stores and online, which are more profitable for Levi's than its wholesale business and are a key gauge of the company's strength, grew 10% from a year ago.
Levi's also posted a profit during its most recent quarter, compared to a net loss during the same period last year.
"Our strategies are working and our investments are paying off," CEO Chip Bergh said in a release on Tuesday.
Levi's stock gained 1% after hours on its results. It has lost 5% since it began trading last month.