Levi Strauss & Co.’s revenue fell 6 per cent in second quarter on a reported basis and grew one percent on a constant-currency basis, but that lower sales at wholesale, primarily in the Americas, were offset by increased sales from the retail network in Europe and Asia. Its net income was impacted by a US $14 million loss on debt retirement in conjunction with the April refinancing of notes scheduled to mature in 2020. Chip Bergh, President and CEO of the company said, “In an environment that continues to be challenging, we were pleased to grow second quarter revenues on a constant-currency basis, due to our strong results in Europe and Asia.”
On a reported basis, gross profit in the second quarter declined to US $ 500 million compared with US $ 530 million for the same quarter of 2014, and gross margin for the second quarter grew by 49.4 per cent of revenues compared with 49.0 per cent of revenues in the same quarter of previous year. Net revenues in the Americas declined primarily due to the loss of women’s Dockers products at wholesale as that business transitions to a license model. In Asia, net revenues were down five per cent and operating income was down 38 per cent on a reported basis. In Europe, currency translation unfavourably impacted net revenues and operating income by US $ 56 million and US $ 11 million, respectively.
Bharat Tex Special Report 2026 
