Levi Strauss Q2 net revenue up 5 percent
10 Jul 2013
REPORT_ For the second quarter, Levi Strauss net revenuesincreased five percent on a reported basis and six percent without the effect of currency. Gross margin for the second quarter was 50 percent of revenues compared with 46 percent of revenues in the same quarter of 2012. Selling, general and administrative expenses as a percentage of revenue declined to 41 percent from 42 percent in the same period of 2012.
“We are encouraged by the second quarter’s progress—revenues up five percent and dramatically improved gross profit and net income,” said Chip Bergh, president and chief executive officer. “We will sharpen our focus on our core brands—Levi's and Dockers—while also investing behind brand-building and improving the overall consumer experience.”
Levi Strauss & Co. is based in San Francisco. It designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s, Dockers, Signature by Levi Strauss & Co., and Denizen brands.