‘97 Sales Drop 3.9% at Levi Strauss

Levi Strauss & Co., the world’s largest brand-name apparel manufacturer and the maker of Levi’s blue jeans, said its fiscal 1997 sales dropped 3.9% to $6.86 billion. Levi Strauss, which is privately held and does not disclose corporate earnings or quarterly revenue, said sales for the year ended Nov. 30 fell short of the company’s record $7.14 billion in sales for fiscal 1996. Company officials said 1997 sales were hit in part by Asian economic weakness. San Francisco-based Levi Strauss said in November that it was slashing about a third of its North American manufacturing jobs and closing 11 plants in a bid to stay competitive.