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

 SAN FRANCISCO, July 14 /PRNewswire/ -- Levi Strauss Associates Inc. (LSAI), the privately held parent company of Levi Strauss & Co., today announced second-quarter earnings of $91 million and record dollar sales of $1.3 billion.
 For the second quarter ending May 30, 1993, LSAI's net sales rose 2 percent over the same quarter of 1992. This marked the 13th consecutive quarter of billion-dollar sales. Year-to-date sales for the first six months of 1993 were $2.7 billion, which represents an increase of 9 percent compared to sales of $2.5 billion during the first half of 1992.
 Second-quarter 1993 earnings decreased by 20 percent from the $113.1 million that the company earned during the same period in 1992. Operating income for the second quarter decreased 21 percent to $161.5 million from $204.5 million for the second quarter of 1992. Earnings were reduced substantially due to higher marketing, general and administrative expenses (mostly advertising and administrative costs).
 Year-to-date net income increased 2 percent to $223.7 million from the $218.9 million earned during the comparable period of 1992.
 In the United States, the company recorded dollar sales of $807.2 million for the second quarter of 1993, down 1 percent from the comparable period. Second-quarter unit sales decreased 5 percent compared to the second quarter of 1992. Reduced consumer spending, which reflected major concerns about the economy, coupled with higher average selling prices for some of the company's products, contributed to the decrease in unit sales.
 Year-to-date 1993 dollar sales within the United States were a record $1.7 billion, up 9 percent over the same period in 1992. The year-to-date performance in dollar sales was mostly due to an increase of 4 percent in U.S. unit sales and higher average unit-selling prices.
 Outside the United States, second-quarter dollar sales have grown 7 percent to a second-quarter record of $531.9 million. Additionally, year-to-date dollar sales outside the United States increased 8 percent to a record $1.1 billion. Dollar sales outside the United States accounted for 40 percent of the total company's dollar sales at the end of the 1993 second quarter.
 Continued strong demand for the company's basic denim products generated record current quarter and year-to-date performances in the European and Asia Pacific divisions. The company's European division reported record second-quarter 1993 and year-to-date unit sales and record year-to-date dollar sales, despite unfavorable European currency exchange rates compared to the stronger U.S. dollar. The Asia Pacific division recorded record dollar sales on record unit sales for both the second quarter and first half of 1993.
 Also contributing to the dollar sales increase in Asia Pacific was favorable exchange rates compared to the weaker U.S. dollar and higher average unit selling prices.
 Levi Strauss Associates Inc. 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 1992 sales of $5.6 billion and employs more than 34,000 people worldwide.
 LEVI STRAUSS ASSOCIATES INC.
 Financial Summary
 (In Thousands)
 2nd Quarter 2nd Quarter Percentage
 1993 1992 Change
 Net Sales $ 1.34 billion $ 1.31 billion 2 pct.
 Operating
 Income $161.5 million $204.5 million (21) pct.
 Net Income $ 91.0 million $113.1 million (20) pct.
 -0- 7/14/93
 /CONTACT: Katherine Tanelian of Levi Strauss, 415-544-6285/


CO: Levi Strauss Associates Inc.; Levi Strauss & Co. ST: California IN: REA SU: ERN

GT-LH -- SF013 -- 1515 07/14/93 14:48 EDT
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Date:Jul 14, 1993
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