Levi Strauss reports higher revenue
Levi Strauss & Co. has reported improved financial results for the second quarter ended May 27.
Net revenues rose 6% to reach $1,016 million compared with $961 million for the same quarter in 2006. This improvement was said to largely reflect the success of upgraded and premium products worldwide, strong growth in emerging markets in the Asia Pacific region, and incremental revenues from additional brand-dedicated retail stores worldwide. Net income also improved, rising 14% to $46 million from $40 million, whilst gross profit increased 4% to $463 million compared with $446 million.