Levi’s annual sales sag despite quarterly gains
From the Associated Press
Levi Strauss & Co. ended its latest fiscal year on the upswing, but it still wasn’t enough to prevent the jeans maker from suffering its ninth annual sales decline in the last 10 years.
The San Francisco-based company said that it earned $95.7 million for the three months ended Nov. 28, more than doubling from net income of $43.6 million a year earlier.
Levi is privately held but discloses its results because some of its debt is publicly traded.
For the fiscal year, Levi earned $239 million, from $155.9 million in 2005.
