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LEVI STRAUSS ASSOCIATES INC. REPORTS 1992 FIRST QUARTER RESULTS

 LEVI STRAUSS ASSOCIATES INC. REPORTS 1992 FIRST QUARTER RESULTS
 SAN FRANCISCO, April 7 /PRNewswire/ -- Levi Strauss Associates Inc. (LSAI), the privately held parent company of Levi Strauss & Co., today said that overall worldwide demand for its Levis(R) jeans products and a growing demand for its DOCKERS(R) casual wear garments in the United States led to record 1992 first quarter sales and earnings.
 Net sales for the period ending Feb. 23, 1992, were $1.2 billion, the highest first quarter sales in the company's history. This represented a 12 percent increase over the $1.1 billion achieved in the same period a year ago.
 The company also reported record first quarter net income of $105.8 million, an increase of 23 percent over the comparable period in 1991 and a 133 percent increase over the same quarter two years ago.
 LSAI's results represent the eighth straight quarter in which sales exceeded one billion dollars.
 The company also said that first quarter operating income decreased one percent to $190.0 million, down from the $191.4 million reported in the first quarter of 1991, due to higher marketing costs.
 In the United States, dollar and unit sales increased in the company's Men's Jeans, Menswear, Womenswear and Youthwear marketing divisions. The company attributed these increases to increased market penetration of its DOCKERS(R) products and a resurgence in the demand for its jeans products.
 In its non-U.S. markets, the company achieved higher unit sales in Europe and the Asia Pacific region as a result of the continued demand for its basic denim products. At the same time, the company said it experienced a decline in volume sales in Canada and Latin America due to their soft economies and retail conditions in those markets.
 Other factors contributing to the company's overall earnings gains were a lower effective tax rate, higher other income and lower interest expense.
 Levi Strauss & Co. is the world's largest brand-name apparel manufacturer. The company designs, manufactures and markets apparel for men, women and children, including jeans, pants, shirts, jackets and skirts. It had 1991 revenues of $4.9 billion and employs approximately 32,000 people worldwide.
 LEVI STRAUSS ASSOCIATES INC.
 FINANCIAL SUMMARY
 (In Thousands)
 Q1 1992 Q1 1991 Percentage
 (Ending (Ending Change
 Feb. 23) Feb. 24)
 Net Sales $1,201,222 $1,076,080 12 percent
 Operating
 Income $189,995 $191,411 (1 percent)
 Net Income $105,789 $85,686 23 percent
 -0- 4/7/92
 /CONTACT: David A. Samson of Levi Strauss & Co., 415-518-6422 or 415-544-7197/ CO: Levi Strauss Associates Inc. ST: California IN: REA SU: ERN


DG-MM -- SF002 -- 5799 04/07/92 11:30 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:440
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