LEVI STRAUSS PROFITS RISE 29% IN Q3.

Daily News Record, October, 2006

Byline: ADAM TSCHORN

LOS ANGELES - Lower expenses and gains in the Dockers brand offset a drop in third-quarter sales and helped push net income at San Francisco-based Levi Strauss & Co. up 29 percent to $49.3 million against $38.2 million in the third quarter of 2005. Sales for the period were approximately $1 billion, down 1.5 percent from $1.018 billion in the year-ago period.

"We're where we expected to be at this point in the year given the numerous challenges that have put pressure on our revenue performance," Levi's president and CEO Phil Marineau said during a conference call with investors last week.

Among the challenges cited by Marineau were retail mergers, weakening demand in Japan and Wal-Mart's scale-back of the lower-priced...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.