Levi profit up 14%, raising optimism
From Times Wire Services
Levi Strauss & Co.’s second-quarter profit rose 14%, accelerating a comeback that has spurred talk that the storied jeans maker might go public again after more than two decades under private ownership.
The San Francisco-based company earned $45.7 million during the three months ended May 27, compared with net income of $40.2 million a year earlier.
Revenue rose nearly 6% to $1.02 billion.
Management attributed the performance to solid demand for the Levi’s and Dockers brands, which helped offset a downturn in its discount clothing sold under the Signature brand.
