Levi 'S Three Quarter Results To Pick Up Efforts To Improve And Provide Cost Structure

(Levi's) parent company USA

The three quarter results of group Levi Strauss & Co. have brought new hope to its competition in the cowboy market.

The three quarter earnings report released by Levi Strauss & Co. showed that the net income of the group was US $58 million 180 thousand, up 14.92% from 50 million 620 thousand US dollars in the same period last year, and operating income was US $114 million 800 thousand, up 9.18% over the same period last year.

In addition, from the performance of the group in the first 9 months, net income decreased by 3.34% and revenue grew by 2.3%.

The results showed that the group's performance improved continuously due to lower production costs, higher efficiency, streamlined process and improved supply chain.

From the three major business areas, Europe and Asia were more affected by exchange rate fluctuations. The three quarter revenues were 25 thousand and 800 US dollars and 17 thousand US dollars, respectively, down 9.6% and 0.2%, while the Americas grew 2.2% to 71 thousand US dollars, but in the first half of the month, revenues in the Americas decreased by 3%.

Group said that in the Americas, the three quarter revenue growth is mainly in the wholesale channel to introduce new products, such as Levi's women cowboy collection brand.

During the 9 months, the decline in revenue was mainly due to the decision of the group to withdraw from the brand last year.

Docks' business in the US.

The report shows that the long-term goal of the group is to achieve sustained profit growth of the brand worldwide, reduce group debt, expand the global brand of the group, and improve the cost structure through the global scale of the group.

Chip Bergh, President and chief executive officer of Levi Strauss&Co., said in a media interview that retail sales of the fourth quarter were still challenging, but the group was confident that the annual income and adjusted EBIT (pre tax profit) growth would be realized after the exchange rate was eliminated.