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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)