Levi Strauss Expects to Post Flat Sales for 2004
From Reuters
Jeans maker Levi Strauss & Co. said it expected to report that sales in its just-ended fiscal year were about the same as the year before, ending a long-running slide. The San Francisco-based company expects to post a profit increase.
Sales of Levi’s jeans have skidded in recent years amid greater competition from more youth-oriented labels.
The company’s overall sales were $4.1 billion in fiscal 2003, down from $5.1 billion in 1999.
The company said sales of its Dockers clothing brand, which made up 24% of sales in 2003, were substantially lower in fiscal 2004, which ended Nov. 28.
