PROFITS RISE ON SLOWER SALES AT LEVI'S.(Levi Strauss & Co.)

Daily News Record, April, 2006 by Tschorn, Adam

Byline: ADAM TSCHORN

LOS ANGELES - Citing weaker demand in the European market, as well as consolidation and reduced sales of its Levi Strauss Signature brand to Wal-Mart, Levi Strauss & Co. reported higher profits on lower sales in the first quarter.

For the three months ended Feb. 26, the company reported a 13.7 percent rise in earnings to $53.8 million, from $47.3 million in the same period the year before, a figure that was in line with forecasts. The gains were attributed primarily to the absence of hefty charges from the early retirement of debt, which fell to $7,000 from $23 million. Net revenues in the period fell 6 percent to $959.96 million, compared to $1.019 billion for the same period in 2005.

"First-quarter results were in line...

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