Levi jeans loses 98% of profits.

[Bindare_Dundat]

US clothing maker Levi Strauss has seen profits dive as a result of weak consumer spending and costly new software which disrupted supplies.

The company, famous worldwide for its jeans, said second quarter net profits were down 98% on last year to $1m.

The group blamed the weak economy and costs related to rolling out new business software that caused shipping delays and dented US sales.

It also said European and Asian consumers had been hit by rising costs.

Levi said the results ended two years of healthy profit gains.

The company is struggling to boost sales in the face of falling consumer spending in major global markets, including the US, and it said the rest of the year would be challenging

[youandme]

They need to kick it in high gear

Competition (paper denim, Seven, and a host of others), old school marketing, and not updating the product to meet fashion standards.

[240 is Back]

they should start making shorts, not jeans.

given global warming will raise temps 10 degrees and will melt all the icebergs... well, swimming trunks might be a better direction to go in.

[El_Pajero]

So?

[youandme]

they should start making shorts, not jeans.

given global warming will raise temps 10 degrees and will melt all the icebergs... well, swimming trunks might be a better direction to go in.

They do make shorts

Last year, they tried and are in adjustment phase of new designs and trying to go along with the trends