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Q1FY17 net revenue at Levi Strauss up 4%
14 Apr '17
1 min read
For the three months ended February 26, 2017, net revenue at Levi Strauss & Co. increased 4 per cent year on year to $ 1,102 million on a reported basis and five per cent, when excluding $10 million in unfavourable currency translation effects. On a reported basis, direct to consumer revenues grew 10 per cent, while wholesale revenues rose 2 per cent.
In the first quarter of fiscal 2017, gross margin was 51.2 per cent of revenues on a reported basis as against 53.0 per cent in the same quarter of fiscal 2016.
Selling, general and administrative expenses in the reporting quarter were higher at $456 million compared with $441 million in the prior fiscal's first quarter, and approximately flat as a percentage of revenue.
In the first quarter of fiscal 2017, gross margin was 51.2 per cent of revenues on a reported basis as against 53.0 per cent in the same quarter of fiscal 2016.
Selling, general and administrative expenses in the reporting quarter were higher at $456 million compared with $441 million in the prior fiscal's first quarter, and approximately flat as a percentage of revenue.
Fibre2Fashion News Desk – India
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