×
36 690
Fashion Jobs
ALICE AND OLIVIA
Sales Supervisor - Austin
Permanent · Austin
ALICE AND OLIVIA
E-Commerce Customer Service Manager
Permanent · New York
JCPENNEY
Business Support Specialist - Communications
Permanent · Plano
JCPENNEY
Buyer - Home (Entertaining & Tabletop)
Permanent · Plano
JCPENNEY
Multi District Human Resources Business Partner
Permanent · Jefferson City
JCPENNEY
Product Manager - Customer Account & Loyalty
Permanent · Plano
TIFFANY & CO
Inventory Control Analyst
Permanent · Parsippany-Troy Hills
ULTA BEAUTY
Salon Manager-Hickory Point Mall
Permanent · Forsyth
ULTA BEAUTY
Salon Manager-White Marlin Mall
Permanent · Ocean City
ULTA BEAUTY
Prestige Sales Manager-Friendly Hills Marketplace
Permanent · Whittier
ULTA BEAUTY
Salon Manager-Pelican Plaza
Permanent · Sarasota
ULTA BEAUTY
Store Operations Program Manager - Strategic Initiatives
Permanent · Bolingbrook
ULTA BEAUTY
Retail Operations Manager-Fischer Marketplace Shopping Center
Permanent · Apple Valley
ULTA BEAUTY
Retail Sales Manager - Market Street Flowood
Permanent · Flowood
ULTA BEAUTY
Salon Manager-Walnut Square Shopping Center
Permanent · Dalton
ULTA BEAUTY
General Manager-Coolsprings Galleria
Permanent · Franklin
ULTA BEAUTY
Salon Manager-Poplar Creek Crossing
Permanent · Hoffman Estates
ULTA BEAUTY
District Manager-San Francisco East
Permanent · San Francisco
BANANA REPUBLIC
General Manager - Willowbend Mall
Permanent · Plano
GUESS
Account Executive
Permanent · New York
GUESS
IT Project Manager
Permanent · Los Angeles
GUESS
Senior Financial Analyst
Permanent · Los Angeles

Levi Strauss net profit up 28 percent on revenue gains

By
Reuters
Published
today Feb 9, 2011
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

9 March - Jeans maker Levi Strauss & Co said on Tuesday that fourth-quarter net profit rose 28 percent, helped by strength in the company's U.S. Levi's retail business and improved wholesale sales in Europe.

Despite the positive results during the holiday quarter, the economic recovery around the world was still "tenuous," said Chief Financial Officer Blake Jorgensen.

Levi Strauss & Co
Levi Strauss & Co


"We're putting a lot of focus on Europe going forward and we're pleased we're starting to see growth coming back but we're very cautious," Jorgensen told Reuters. "The U.S. is tenuous and Europe is more likely to be tenuous for another year beyond the U.S."

The private company, which reports quarterly profit due to its publicly held debt, said that fourth-quarter net income was $86 million, up from $67 million in the year-earlier quarter.

Revenue rose 7 percent to $1.29 billion, the San Francisco-based company said.

The company has been focused on promoting its Levi's brand through advertising and company-owned store openings even as other more mature markets like Japan and Southern Europe have been in a protracted slump.

In the Americas region, revenue rose 7 percent, while European revenue rose 4 percent, or 11 percent on a constant currency basis. Revenue rose 8 percent in Asia, or 3 percent excluding currency fluctuations.

The U.S. business was also helped by improved performance at department stores by the Dockers brand, which has aimed to reinvent its fit and image to attract younger khaki-wearers.

Dockers' "Wear the Pants" campaign debuted a little more than a year ago.
"We've really brought more fashion into the mix in terms of slimmer styles without losing the original fit," said Jorgensen.

Net debt of $1.59 billion was flat from the year-ago period, but the company's average cost of debt has dropped due to the paying down of higher rate debt, Jorgensen said.

(Reporting by Alexandria Sage, editing by Gerald E. McCormick and Matthew Lewis)

© Thomson Reuters 2019 All rights reserved.