Levi Strauss posts 13 mn dollars decline in Q2 net income

Net revenues at Levi Strauss grew 6 percent on a reported basis and 7 percent excluding 11 million dollars in unfavourable currency translation effects to 1,068 million dollars, for the second quarter ended May 28, 2017. Net income, Levi Strauss said, however, declined 13 million dollars primarily due to a 23 million dollars loss on early extinguishment of debt. Adjusted EBIT grew 7 percent reflecting higher revenue and gross margins.