June 3, 2003 |
Levi Strauss & Co. said Monday that it has hired another outside law firm to conduct a second examination of tax and accounting practices questioned by former employees in a lawsuit accusing the jeans maker of tax fraud. The San Francisco-based company also said it discussed issues raised in the suit with the Securities and Exchange Commission in an informal meeting last month.
May 26, 2003 |
Levi Strauss & Co. has countersued two fired employees who accused it of tax fraud, portraying them as liars who conspired to damage the reputation of the San Francisco apparel maker and its executives. In San Francisco Superior Court filings Friday, Levi also moved to have the lawsuit of former tax managers Robert Schmidt and Thomas Walsh thrown out.
April 26, 2003 |
Levi Strauss & Co. has opted out of a $20-million settlement approved this week to compensate garment workers on the Pacific island of Saipan, the San Francisco-based company said. A judge at the U.S. District Court for the Northern Mariana Islands approved a settlement after alleged rights violations involving several U.S. retailers, including Gap Inc. and J.C. Penney Co. The lawsuit alleged violations of wage and hour laws and other workers' rights at garment factories in Saipan.
March 26, 2003 |
Two large California clothiers issued gloomy reports tied to weak sales Tuesday as Levi Strauss & Co. said it lost $24 million in the first quarter and Charlotte Russe Holding Inc. predicted a second-quarter loss and pulled the plug on its Charlotte's Room chains of accessories stores. For San Francisco-based Levi, which makes bluejeans and other casual apparel, the fiscal first-period loss contrasted with a profit of $42 million in the same period in 2002.
January 14, 2003 |
Levi Strauss & Co.'s finances are starting to look a little less blue. The 150-year-old maker of blue jeans and casual apparel said Monday that its sales increased 2% to $1.26 billion in the fourth quarter to give the San Francisco-based company two consecutive quarters of rising revenue for the first time since 1996. Net income shriveled during the period, however.
December 1, 2002 |
Brenda Pope sits at the kitchen table and stares sadly at her work-hardened hands. Inside one wrist is the purple welt of a surgical scar that runs halfway to her elbow. Twenty years at a sewing machine gave her the carpal tunnel injury. That scar and $15,000 in severance is what she has to show for those years. Near the edge of Blue Ridge, Ga., the Levi Strauss plant where she once worked now sits empty, a glass-and-brick shell overlooking acres of empty parking lot.
September 24, 2002 |
Levi Strauss & Co. on Monday reported its first quarterly sales advance since 1996--a 3.5% third-quarter increase--but said earnings dropped 9% as costs rose. The San Francisco-based jeans maker, which has been in a turnaround mode for the last three years, said the results show that the company is gaining ground as it introduces new products and works more effectively with retailers.
July 6, 2002 |
Levi Strauss & Co. expects to incur an additional $20 million to $25 million in restructuring-related expenses over the next 12 to 18 months, according to its quarterly report filed with the Securities and Exchange Commission.
June 21, 2002 |
Levi Strauss & Co., maker of Levi's jeans and Dockers slacks, reported a net loss for the second quarter because of costs involved in closing eight manufacturing plants and continuing lower sales. The net loss of $80.9 million, which contrasted with net income of $43.4 million a year ago, came as the company struggles to restore its faded image after more youth-oriented brands cut into its once-dominant market share. Excluding the one-time restructuring charges, profit fell 65% to $15 million.
April 9, 2002 |
Levi Strauss & Co., an apparel icon suffering declining sales for the last five years, said Monday it will close six U.S. plants and dismiss 3,300 workers this year as it halts almost all of its U.S. manufacturing operations. San Francisco-based Levi said the closures will help the company "maintain strong margins" and invest more of its resources in product development, marketing and retail initiatives.