Levi Strauss Associates Inc.: The privately held...
From Times Staff and Wire Reports
Levi Strauss Associates Inc.: The privately held parent of apparel maker Levi Strauss & Co. said third-quarter earnings fell 42% to $74 million because of a onetime gain last year of $69.8 million on the sale of stock in its Japanese subsidiary. Discounting the stock sale, earnings still would have been off 10% because of a higher tax rate, the company said. Quarterly revenue jumped 19% to a record $1.2 billion. Levi’s said strong overseas demand for jeans was the key reason for the record sales.
