Levi 'S Parent Company 2014 Three Quarter Profit Decline

Here world Clothing and shoes The weave of the net tells us that the North American business is weak, Levi 's parent company has lost three quarter profits.

As North American business continued to slack, Levi's Levi's parent company Levi Strauss & Co. continued to decline in the three quarter. As of the three quarter of August 24, 2014, group net profit fell 57 million 75 thousand to $50 million 620 thousand, or 11.3%, in the same period last year.

Operating profit also declined by 2%, from $125 million in the same period last year to $122 million, while sales in the European region increased by 4% from $275 million in the same period last year to 286 million dollars. The increase in European Regional revenue mainly benefited from the rise in self run store sales. The eurozone's quarterly operating profit rose to the US dollar, which was mainly due to the increase in gross profit margin in the same period last year. Sales growth in Asia dropped to US dollars from the US dollar in the same period last year, and the retail price was also affected by the retail channel or wholesale channel. However, the Asia Pacific region's quarterly operating profit fell from the US dollar in the same period last year to us dollar. The decline in operating profit was mainly affected by the bad gross margin caused by the large scale promotion in the Asia Pacific region. In the three quarter, Levi Strauss & Co. sales in North America dropped 2%, from 710 million US dollars in the same period last year to 697 million US dollars, and the decline in sales was mainly due to the drop in wholesale business of women's clothing and three quarter of North America.

As of the three quarter of August 24, 2014, the total revenue of Levi Strauss & Co. group was 1 billion 154 million 100 thousand US dollars, an increase of 1% over the same period of 1 billion 141 million 300 thousand a year ago. Gross profit recorded 562 million 200 thousand US dollars, a 2% decrease compared with 572 million 800 thousand US dollars in the same period last year, and gross margin fell by 150 basis points, from 50.2% in the same period last year to 48.7%.

Levi Strauss & Co. launched the business restructuring and cost reduction plan in March this year. The first phase of the plan will reduce about 800 non retail and non manufacturing jobs in the next 12-18 months, accounting for nearly 20% of the total number of employees. It is expected to save 75 million to 100 million dollars a year, aiming at streamlining the company's business and promoting long-term profit growth. The company said it had already spent $103 million by August 24, 2014, saving less. cost It will reach $100 million to $125 million, higher than expected.