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Levi Strauss Europe posts sales leap

Sales at Levi Strauss Europe jumped by 14% to US$246 million (£121m) for the three months to August 26, thanks to new fits and styles, according to the company. European operating profit for the period rose 1% against last year to US$51m (£25m).

The company said strong sales of the Levi’s Red Tab range, led by new fits and finishes for both men and women, contributed to the growth, as well as new store openings.

Globally, Levi Strauss & Co’s net revenue rose 2% to US$1.05 billion (£51.8m) compared with the previous year, while profit after tax rose 24% to US$61m (£30m). Total operating profit fell 9% to US$143m (£70.5m), blamed on lower operating income in North America driven partly by retail expansion.

A spokesman said: “Looking ahead, the solid third-quarter results put the company on track to deliver a profitable year, with modest growth in full-year net revenues and strong growth in full-year net income expected."

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