Levi Strauss & Co., the US based apparel retailer released its financial results for the third quarter that ended on August 24, 2014. While the company registered a growth of 1 per cent in net revenues, its increased sales were balanced by decreased sales in America. The net income for third quarter fell to US $ 51 million due to the investments related to the company’s global productivity initiative. “Despite continued external challenges, including soft retail traffic and a highly-promotional environment, we grew revenue in the third quarter by focusing on the controllable aspects of the business,” said Chip Bergh, President and CEO, Levi’s. The company will now focus on driving retail conversion and engaging consumers globally with the Live in Levi’s®campaign, and improving the business’s structural economics.
