Tags: levi | jeans | earn

Levi Strauss Profit Rises as Ad Spending Falls

Tuesday, 10 Apr 2012 03:46 PM

Levi Strauss & Co on Tuesday reported higher quarterly profit, after the denim jeans maker eased up on advertising in some markets.

Net income for the privately held company rose 21 percent to $49 million in its fiscal first quarter ended on February 26, helped by higher revenue and lower advertising expenses.

Revenue rose 4 percent to $1.17 billion.

The company raised prices on its jeans to try to offset higher cotton costs, but its gross margin still declined.

Levi Strauss is private, but reports earnings because it has publicly held debt.

Its net debt balance was $1.7 billion at the end of the quarter, down from $1.8 billion at the end of fiscal 2011.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
115
2012-46-10
Tuesday, 10 Apr 2012 03:46 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved