Home / Knowledge / News / Fashion / LS&CO net incomes improves due to operating sales for Q2

LS&CO net incomes improves due to operating sales for Q2

Jul '05
American jeans and casual wear manufacturer Levi Strauss & Co announced financial results for the second quarter ended May 29, 2005 and filed its second-quarter 2005 Form 10-Q with the Securities and Exchange Commission.

Results for the quarter show key financial improvements, including improved gross profit, a $66 million increase in operating income to $145 million and a $21 million increase in net income to $27 million on slightly lower net sales compared to the same period last year.

Second-quarter 2005 net sales were $944 million compared to $959 million for the second quarter of 2004 – a decrease of 1.6 percent on a reported basis and 4.4 percent on a constant-currency basis.

The sales decrease was driven primarily by strategic actions taken in fiscal 2004 to streamline the number of U.S. Levi's and Dockers product offerings, lower sales of U.S. Dockers women's products, the impact of lower sales in Europe resulting from a change in the region's spring/summer sell-in calendar and a declining retail environment across Europe. These were partially offset by continued growth of the Levi's brand in Asia.

Net income for the quarter increased to $27 million compared to net income of $6 million in the same quarter of 2004. The improvement was due primarily to a $66 million increase in operating income, partially offset by a $43 million loss on early retirement of debt related to refinancing activities and higher income taxes.

“They are right where thye expected to be midpoint in the year,” said Phil Marineau, chief executive officer. “Our top line is stable and profits are up. Consistent with our primary focus this year, we are delivering increased operating income and stronger net income. Sales for the first six months are slightly improved over the same period last year.

Must ReadView All

Pic: Shutterstock

Textiles | On 18th Feb 2020

Turkey, Pak want to raise bilateral trade volume to $5 bn

Turkey and Pakistan want to raise bilateral commercial and economic...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

Bangladesh RMG exporters expect order shift from Cambodia

Bangladesh's readymade garment (RMG) exporters feel the suspension of ...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

GMAC dissatisfied with EU following partial EBA suspension

Expressing disappointment over the February 12 decision by the...

Interviews View All

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Vasudevan LK,

Vasudevan LK

Epson is a world leader in digital imaging and printing solutions....

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Francesco Gozio,

Francesco Gozio

Italian company Marzoli is a leading manufacturer of the complete line of...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Dave Rousse, INDA

Dave Rousse

INDA, a global association of the nonwoven fabrics industry, has been...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search