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Levi Strauss profit down four per cent

For the third quarter Levi Strauss’ profit dropped four per cent. Net revenue rose 3.8 per cent. The denim apparel maker is struggling to grow its wholesale business in the US. Reduced shipments to off-price stores and the impact of a delayed acquisition of a South American distributor drove net revenue down about three per cent in the region, the first fall since the 165-year-old company went public in March. US wholesale was challenged, particularly the legacy department stores and chain stores. Levi’s has been focusing on selling directly to customers through its stores and online than through off-price retailers. Levi’s teamed up with model Chanel Iman and New York Giants player Sterling Shepard during the quarter to create an exclusive drop, launching limited merchandise, for e-commerce retailer Amazon’s fashion line.

Levi Strauss is known for its brands Levi’s, Dockers, Signature by Levi Strauss and Denizen. It is implementing a strategy aimed at significantly reducing overall water use. Its suppliers are already engaged–and deeply invested–in the effort to reduce water use. In water-stressed regions, suppliers have begun to install water-efficient machinery and recycle water. The company will help its suppliers identify worthwhile investments in water projects and, in doing so, help them be successful over the long term.

 
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