High Street

Levi Strauss & Co reports stagnant profits amid unfavourable conditions

European direct-to-consumer net revenues fell by 21% on a reported basis and 14% on a constant-currency basis, while the company's wholesale net revenues decreased 16% on a reported basis and 5% on a constant-currency basis

Levi Strauss and Co has announced its gross profits for the three months ended 28 August 2022 were up by 0.08% year on year to $862.9m (£775.6m), with unfavourable currency exchanges, higher product costs and lower full-priced sales marked as the main barriers faced by the company.

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