Friday
March
06
2015
3:08 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
Levi Strauss more than doubles 3Q net income
October 05, 2013, 05:00 AM The Associated Press

SAN FRANCISCO — Levi Strauss & Co. said Friday that its fiscal third-quarter net income doubled on improved sales and the absence of a major charge that dragged down last year’s results.

The privately held clothing company, based in San Francisco, reported net income of $57 million for the three-month period that ended Aug. 25. That is up from $28 million last year, when it took a hit from phasing out its Denizen brand in China. The company booked a $25 million customer support and inventory markdown charge last year tied to the decision.

Levi’s quarterly revenue increased 4 percent to $1.14 billion, largely on the popularity of its namesake brand.

President and CEO Chip Bergh said that the company achieved its gains by being “laser-focused” on making innovative products, keeping the retail experience engaging, talent and managing costs.

Levi’s did have slightly higher expenses during the period due to new advertising campaigns and higher incentive-based compensation after meeting certain internal goals.

The company’s products are sold in approximately 2,800 retail stores and shop-in-shops globally, as well as online.

 

 

Tags: company, million,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
Are you following baseball spring training games?

Yes!
A little
Not yet, but will soon
No, but interested
Not at all

 

 
 
 
 
 
 
 
Major survey shows most Americans support same-sex marriage
WASHINGTON — In the late 1980s, support for gay marriage was essentially unheard of in America. Ju..
State Dept. will review Clinton emails for possible release
WASHINGTON — The State Department agreed Thursday to review thousands of messages from a private e..
Ringling Bros. phasing out iconic elephant acts by 2018
POLK CITY, Fla. — The Ringling Bros. and Barnum & Bailey Circus will phase out the show's iconic e..
European Central Bank: Recovery is strengthening
NICOSIA, Cyprus — The struggling eurozone economy is picking up momentum ahead of the launch next ..
More >>  
 
 
  
 
  
 
©2015 San Mateo Daily Journal
South San Francisco news