Levi 'S Third Quarter Net Profit Growth 15% Women'S Clothing Series Will Promote Development

Chip Bergh, President and chief executive officer of Levi s, believes that positive feedback from consumers on the new women's clothing series is likely to further promote the development of this category.

Levi 's performance shows more the development trend of women's jeans market.

According to the latest earnings report released by Levi Strauss & Co., the net profit of Levi 's in the third quarter increased by 15% to 58 million US dollars compared with the same period last year's 51 million US dollars.

Adjusted pre tax income rose 8% to $128 million from $119 million in the same period last year.

According to the constant exchange rate, the adjusted pre tax profit increased by 23%.

Currency exchange rate has once again become one of the main problems affecting performance.

The third quarter sales fell 1% to 1 billion 140 million US dollars from US $1 billion 150 million in the same period last year.

According to the constant exchange rate, sales increased by 7%.

In Europe, sales fell by 10% under the influence of currency exchange rate.

Chip Bergh, President and chief executive officer of Levi s, said the company expects to have wider growth in the second half of the year.

And for the new store launched in August this year.

Bergh said it was an excellent performance this quarter and recorded double-digit growth in direct sales to consumers. "We are encouraged by early feedback."

Levi 's president and chief executive officer Chip Bergh

The performance of Levi s shows more about the development of women's jeans market. Maybe women are tired of sports tights and jogging pants.

In the company's own retail stores, the

The line is well done, from Super Skinny, Slim BootCut to Boyfriend series.

"Obviously, this is the revival of the cowboy," Bergh said.

He believes that positive feedback from consumers on the new women's clothing series is likely to further promote the development of this category.

The company said revenue gains were affected by 8% growth in retail sales, while feedback from the expansion of retail networks in Europe and Asia.

According to the results of this quarter, by region, business income in the Americas rose 18% to 144 million US dollars, the European region grew 2% to 51 million dollars, and the Asian region increased 48% to 26 million US dollars.

Levi Strauss & Co. said it will undertake additional restructuring fees related to the global productivity initiative and expects that most of the related actions will be implemented by the end of 2016.

Although the company does not disclose these costs in detail, these costs are expected to lead to net annualized gains of 175 million -2 billion dollars.