Levi Strauss revenue slides on slower Asian sales
Feb 7 (Reuters) - Levi Strauss & Co saw revenue drop 3 percent for the fourth quarter as sales in Asia slowed and the company phased out its denizen brand in that market.
For the quarter ended Nov. 25, the company, which also sells its clothes through other retailers such as Macy's Inc and J.C. Penney Co Inc, said it earned $53 million, compared to $44 million last year.
Levi Strauss, famous for its denims, saw revenue slide to $1.3 billion from $1.34 billion last year.
Levi Strauss is private, but it reports earnings because it has publicly held debt. Net debt at the end of fiscal 2012 was $1.3 billion, compared to $1.8 billion at the end of fiscal 2011.
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