Levi Strauss' 2nd-quarter profit climbs

0 Comments | Deseret News (Salt Lake City), Jul 11, 2007

SAN FRANCISCO (AP) -- Levi Strauss & Co.'s second-quarter profit rose 14 percent, accelerating a comeback that has spurred talk that the storied jeans maker might go public again after more than two decades as a privately held company.

The San Francisco-based company said Tuesday it earned $45.7 million during the three months ended May 27 compared with net income of $40.2 million a year ago.

Net revenue rose nearly 6 percent to $1.02 billion from $961 million a year ago. If not for an $18 million boost from the weak dollar in Europe, Levi's said its revenue would have been up by 4 percent during the quarter.

Management attributed the performance to solid demand for its Levi's and Dockers brands, which helped offset a downturn in its discount clothing sold under the Signature brand. Jeans sold under the Levi's brand usually cost about $10 more per pair than their Signature counterparts.

Although Levi's went private in a 1985 leveraged buyout led by the descendants of the company's founder, it still discloses its financial results because its debt is publicly traded.