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

14 Jul '05

5 min read

As of May 29, 2005, total debt, less cash was $2.11 billion compared to $2.02 billion at the end of fiscal year 2004, an increase of approximately $84 million. The increased net debt is primarily attributable to costs associated with debt refinancing actions this year, interest and incentive payments, cash taxes and payments for restructuring actions.

“They are pleased with our financial performance so far this year. The results show that they are accomplishing our goal of increasing profitability while maintaining sales stability,” said Hans Ploos van Amstel, chief financial officer.

“Timing shifts that benefited sales in the first quarter were offset this quarter; however, I believe our year-to-date results show that we are delivering a strong, sustainable performance. We are carefully managing our business to allow us to invest higher operating profits from the first six months into building our brands through additional marketing and promotional activities during the second half of the year.”

Founded in 1853 by Bavarian immigrant Levi Strauss, Levi Strauss & Co. (LS&CO.) is one of the world's largest brand-name apparel marketers with sales in more than 110 countries. There is no other company with a comparable global presence in the jeans and casual pants markets. Our market-leading apparel products are sold under the Levi's, Dockers and Levi Strauss Signature brands.

Levi Strauss & Co

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