Levi Strauss President pleased with solid Q3 performance

03 Oct '08

4 min read

• Interest expense for the third quarter decreased to $37 million compared to $53 million in the third quarter of 2007. The decrease was primarily attributable to lower average interest rates and lower debt levels during the quarter compared to last year.

Regional Overview:
• Net revenues in the Americas' region increased slightly, despite the impact of U.S. customer Chapter 11 filings during the second and third quarters. The increase mostly reflected higher sales from company-operated retail stores.

• Net revenues in Europe increased on a reported and constant currency basis. The increase in net revenues on a constant currency basis reflected the addition of new company-operated and franchise retail stores, partially offset by weaker wholesale performance in certain markets.

• Net revenues in Asia Pacific increased on a reported and constant currency basis. Revenues in the company's emerging markets in Asia Pacific continued to grow, partially offset by declines in certain of the company's mature markets in the region.

Levi Strauss & Co.

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