Levi Strauss & Co. Reports Net Loss for Q2 2023
Revenue Declines in Q2 2023 for Levi Strauss & Co.
Levi Strauss & Co. (LEVI) has announced its financ ial results for the second quarter of 2023, reporting a net loss and a decline in revenue. The company, known for its iconic denim jeans, faced challenges during the quarter due to various factors impacting its operations. Despite these difficulties, Levi Strauss & Co. remains committed to navigating the ever-changing retail landscape and implementing strategies to drive future growth.
Net Loss in Q2 2023
During the three months ended May 28, 2023, Levi Strauss & Co. experienced a net loss of $1.6 million. This represents a significant decline compared to the same period last year when the company reported a net income of $49.7 million. The decrease in net income can be attributed to several factors, including rising costs and lower sales volumes.
