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Tuesday, October 07, 2008
Tuesday, October 07, 2008
Strategic Sourcing News
Posted: Monday, April 14, 2008, 11:42AM
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Levi sees profits flare despite "difficult" marketplace
Improved sourcing has helped Levi Strauss & Co record a rise in profits despite uncertainty in many of the company’s key global markets.
The US-brand reported a rise in net profits of 12 per cent in the first quarter of 2008, with the emerging markets of India, China and Brazil fuelling its strong growth.
The privately-owned company reported a first-quarter net profit of $97 million, up from $87 million a year earlier.
Despite the increase, Levi’s chief executive officer, John Anderson, said: “We are cautious given the economic uncertainty in the United States and key markets around the world.”
He described the current retail environment as “increasingly difficult.”
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