Levi Strauss Associates Inc.: The San Francisco-based...

Levi Strauss Associates Inc.: The San Francisco-based clothing company reported net income in 1988 of $111.9 million, down 17% from last year, on sales of $3.1 billion, up 7%. The company blamed the results on increased advertising expenses, costs associated with reorganization of domestic operations and a higher effective tax rate. This is the first time the company has disclosed financial results since it went private in 1985.

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