By  on July 8, 2008

Weak sales in the U.S. and skyrocketing costs sent Levi Strauss & Co.'s earnings tumbling during the second quarter.

For the three months ended May 25, earnings sank 98.5 percent to $701,000 from net income of $45.7 million in the same period a year ago. Revenues fell 7.9 percent to $936.3 million from $1.02 billion, while sales slid 8.2 percent to $915.1 million from $997.3 million.

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