From Los Angeles Times:
Levi Strauss & Co. posted a fourth-quarter profit as the jeans maker ended an eight-year sales slide marked by fashion missteps, mass layoffs, plant closures and accounting troubles.
The San Francisco-based company said it earned $43.6 million during the three months ended Nov. 27.
Levi is privately held but discloses its financial results because some of its debt is publicly traded.
The company has spent most of the last decade scrambling to survive as trendsetters shunned the Levi’s brand and cost-conscious customers snapped up lower-priced clothing made overseas.
Levi is hoping to spur more sales by opening about 20 of its own stores this year, more than doubling the 18 currently operated by the company.
