Jul 16, 2010
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Levi Strauss & Co. up 8% in every region

Jul 16, 2010

Despite a quarterly net loss of $14 million, Levi Strauss & Co. is optimistic. During the second fiscal quarter, which began December 1st, the U.S. group saw net sales grow by over 8% to 977 million dollars. At constant exchange rates, the increase was 5%.

Performance is largely explained "by the acquisitions made in 2009 and retail expansion," the group adds.

Levi Strauss & Co
Levi's Campaign 2010

All regional areas of the globe are to be thanked for this growth. From March to May, sales in Europe rose by 9%. They leaped from $221 million to $240 million. In Asia, sales gained 8% over the period, totaling $178 million. But at a constant exchange rate, the jean retailer posted a dip of 2%. "The Levi's brand is powerful and consumers respond positively to our product innovations," said John Anderson, CEO.

As for operating income, it jumped in the second quarter by 23% to 69 million dollars.

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