Americas sales limit growth at Levi Strauss
Revenues at jeans maker Levi Strauss rose 4% in the first quarter ended February 24, while net income was up 12% year-on-year. Net revenues were $1.08 billion compared with $1.04 billion in the corresponding period in the previous year, while net income was $97 million compared with $87 million.
However, although net revenues in Europe rose 15% and revenues in Asia Pacific grew 8%, Americas revenues fell 2%.
Going forward, the company is taking a realistic approach to the current financial climate, but remains positive. “We are cautious given the economic uncertainty in the United States and key markets around the world. Nonetheless, we remain focused on product innovation, retail expansion and optimising our global footprint,” says president and chief executive officer, John Anderson.
