Levi Strauss shows 61% increase in first quarter results
Figures Net Profit : USD 87 million against USD 54 million in the same quarter last year.
Sales :USD 1.04 billion against USD954 million .
Reason : Higher apparel and jeans prices (through premium jeans segment).
Major restructuring including layoffs and reduction in owned production bases.
Last year, Levi Strauss had shown better results due to volumes from the mass brand – Signature. However, this year they have faced challenges since the retailers like Wal Mart and Target have cut back on this brand to promote their own mass brands.
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