Premium products boost Levi’s results

Jeans retailer Levi Strauss says introducing more premium products has helped its European division record a 12% jump in net revenue to $220m (£99m) for the second quarter of this year. Operating income at Levi’s Europe rose 8% year-on-year to $38m (£18.8m).

A spokesman says: “Looking ahead, the strong second quarter results complement those achieved in the first quarter and put the company on track for a profitable year.”

The jeans manufacturer and retailer reported global net income of $1.02bn (£500m), a rise of 6% on the previous year. Net income was up 14% to $46m (£22.8m) for the same period.

Levi’s Europe opened 12 more stores in the second quarter of this year, bringing the total number in Europe to 410. The company, which employs about 40,000 people, sells the products in more than 40 countries.

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