Levi Strauss, the quintessential American brand of jeans, reports a $1.6 million loss for the quarter just ended. The loss is in comparison to a $49.7 million dollar gain in last years quarter. Like many retailers in the country, Levi Strauss is struggling to remain “in phase” with the American consumer, who is cutting back on their spending, in the face of high inflation. Levi management indicated that they are reducing inventory and production to match lower sales.
Find Levi’s earnings here:
SEC Form 10Q: