The American denim company Levi Strauss made a net profit of 142.5 million dollars (120 million euros) in the first three months of its fiscal year, which represents a drop of 6.7% compared to the result. accounted for by the textile firm in the same period of the previous year, the company reported.
Levi Strauss’ turnover between December 2020 and February 2021 reached 1,305.6 million dollars (1,098 million euros), 13.3% less than a year earlier, due to the impact of the pandemic on its activity.
Likewise, in the first three months of its fiscal year, Levi Strauss recorded a 14% drop in its sales in America, to 641 million dollars (539 million euros) and 16% in Europe, up to 429 million dollars (361 millions of euros). In the case of Asia, company sales fell 5% year-on-year, to 235 million dollars (197 million euros).
The multinational has revised up its outlook for net income corresponding to the first half of 2021, when it expects a growth in its sales of between 24% and 25% compared to the same interval of the previous year, while it trusts that its profit for share will reach between 0.41 and 0.42 dollars.