Printer Friendly

LEVI STRAUSS ASSOCIATES REPORTS RECORD DOLLAR SALES AND EARNINGS FOR THE FIRST QUARTER 1993

 SAN FRANCISCO, April 14 /PRNewswire/ -- Levi Strauss Associates Inc. (LSAI), the privately held parent company of Levi Strauss & Co., today announced record first-quarter net sales of $1.4 billion and earnings of $132.7 million for the first quarter ending Feb. 28, 1993.
 For the first quarter, net sales rose 16 percent over the $1.2 billion reported for the same quarter of 1992. This marked the twelfth consecutive quarter of billion-dollar sales.
 Net income increased 25 percent to $132.7 million from the $105.8 million earned in the first quarter of 1992. Operating income for the first quarter rose 24 percent to $234.8 million from $190.0 million for the first quarter of 1992.
 These results were attributable to continued strong worldwide consumer demand for the company's basic jean products and the strong demand in the United States for the company's Dockers(R) products. The positive net income change was also due to lower marketing, general administrative expenses as a percent of sales, lower interest expense and a lower effective tax rate, partially offset by lower other income (net).
 The increase in net sales for the quarter was driven by record first-quarter unit sales, which increased 14 percent compared to the same period in 1992.
 In the United States, the company achieved record dollar sales of $850.3 million for the first quarter of 1993, up 21 percent over the comparable period in 1992. The dollar sales increase reflects first- quarter record unit sales and higher average unit selling prices. Unit sales in the United States for the first quarter of 1993 increased 15 percent above the same period a year ago.
 Record dollar sales outside the United States totalled $543.7 million for the first quarter, up 9 percent over the same period in 1992. The increase in dollar sales outside the United States was mostly due to record dollar and unit sales in the company's European and Asia Pacific divisions. Dollar sales outside the United States accounted for 39 percent of the company's total dollar sales for the 1993 first quarter.
 Levi Strauss & Co. is the world's largest apparel manufacturer. The company designs, manufactures and markets apparel for men, women, and children, including jeans, pants, shirts, jackets and skirts. It had 1992 revenues of $5.6 billion and employs approximately 34,000 people worldwide.
 LEVI STRAUSS ASSOCIATES
 Financial Summary
 1st Quarter 1st Quarter Percentage
 1993 1992 Change
 Net Sales $ 1.4 billion $ 1.2 billion 16 pct.
 Operating
 Income $234.8 million $190.0 million 24 pct.
 Net Income $132.7 million $105.8 million 25 pct.
 -0- 4/14/93
 /CONTACT: Katherine Tanelian of Levis Strauss, 415-544-6285/


CO: Levi Strauss Associates Inc. ST: California IN: TEX REA SU: ERN

LH-SG -- SF010 -- 5702 04/14/93 12:09 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 14, 1993
Words:464
Previous Article:CASINO DATA SYSTEMS ANNOUNCES THREE NEW CONTRACTS WITH CIRCUS CIRCUS ENTERPRISES INC.
Next Article:/C O R R E C T I O N - SOCIETY CORPORATION/
Topics:


Related Articles
LEVI STRAUSS ASSOCIATES INC. REPORTS RECORD 1991 SALES AND EARNINGS
LEVI STRAUSS ASSOCIATES REPORTS RECORD DOLLAR SALES, INCREASED OPERATING INCOME; EARNINGS LOWER DUE TO ONE-TIME CHARGE
LEVI STRAUSS ASSOCIATES INC. REPORTS RECORD SALES AND EARNINGS FOR 1992
LEVI STRAUSS ASSOCIATES REPORTS RECORD DOLLAR SALES AND LOWER EARNINGS FOR THE SECOND QUARTER 1993
LEVI STRAUSS ASSOCIATES INC. REPORTS THIRD QUARTER RECORD SALES & STRONG EARNINGS
SARA LEE CORPORATION REPORTS RECORD SALES, EARNINGS FOR SECOND QUARTER 1994; EXPECTS WEAKER RESULTS FOR THE THIRD QUARTER OF FISCAL YEAR
LEVI STRAUSS ASSOCIATES INC. REPORTS RECORD SALES AND EARNINGS FOR 1993
THE LIMITED, INC. REPORTS 10 PERCENT INCREASE IN NET INCOME FOR THE THIRD QUARTER
LEVI STRAUSS ASSOCIATES INC. POSTS RECORD FIRST-QUARTER SALES, NET INCOME

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters