Levi Strauss reports weak sales in Europe

By

Bruno Joly

Published
Oct 7, 2013

For its third quarter closed August 25, American denim brand Levi Strauss saw net sales increase by 4% to reach 1.14 billion dollars (840 million euros).

Net revenues in Europe increased 3 percent on a reported basis, but decreased one percent without the effect of currency to 275 million dollars. The company stated that good sales performance and network expansion were not enough to offset the drop in sales to franchises, notably in Southern Europe.

Sales in the Americas increased by 5% against the same period the previous year, while revenue in the Asia Pacific regions remained stable.

Gross margin for the third quarter was 50% of revenues compared to 47% for the same period the previous year. Net income for the period rose to 57 million dollars.