Levi Strauss posts sales and profit growth

Levi Strauss & Co., for its first quarter ended February 23, 2020 reported net revenue growth of 5 percent on a reported basis, and 6 percent on a constant-currency basis excluding 11 million in unfavourable currency effects to 1,506 million dollars. The company said in a statement that net revenues growth was partially offset by an estimated 20 million dollars adverse impact of store closures and reduced traffic during the last six weeks of the first quarter resulting from the outbreak of Covid-19 in China. Adjusted diluted EPS rose 2 cents to 40 cents.