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Levi Strauss Profit Rises 60% in Quarter

October 10, 1985

Levi Strauss & Co. reported that its earnings for the 1985 third quarter increased 60% after taxes, reflecting gains in sales of jeans and other products.

The company released figures Wednesday showing net income of $35.9 million on revenue of $770.9 million. Levi Strauss is no longer a publicly held company, having been acquired by members of the founding family in August.

The latest results compare to 1984 third-quarter after-tax earnings of $22.5 million and revenue of $718.8.

"The earnings improvement for the third quarter is primarily due to the continuation of sales increases of men's jeans and a more favorable mix in sales of women's and children's jeans products in the United States," said Robert D. Haas, president and chief executive.

"The company also benefited from last year's business consolidations and our ongoing cost-reduction measures," he said.

For the first nine months of the year, Levi Strauss reported net earnings of $81 million on revenue of $1.9 billion.

Net earnings totaled $40 million during the corresponding 1984 period, and revenue was $1.9 billion.

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