Levi Strauss & Co. Shows Stronger Results

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Levi Strauss & Co. announced financial results for the fourth quarter and fiscal year ended November 28, 2004.

Additionally, the company filed its 2004 Form 10-K with the SEC.

2004 full-year results reflect stronger financial performance across a range of key financial measures compared to the prior year. In fiscal 2004, the company tabilized full-year net sales at $4.1 billion.

The company also Increased gross margin by 530 basis points to 43.8 percent from 38.5 percent and gross profit by $210 million.

Levi Strauss & Co. delivered $30 million in net income, compared with a net loss of $349 million in 2003; and reduced total debt less cash by $151 million.

“2004 was a year when across all fronts we made substantial progress against our goals,” said Phil Marineau, CEO. “We improved the profitability of the company, increased our margins and stabilized sales. The strategic actions we took in the second half of 2003 and continued throughout 2004 to reduce costs, consolidate sales and fortify our core businesses have improved our financial strength. We begin 2005 with a healthier and more competitive business.”

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Levi Strauss & Co. Shows Stronger Results
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