Levi Strauss & Co. said its second-quarter loss widened as financing costs erased the positive effects of higher sales and margins and advantageous currency swings.
For the three months ended May 30, the net loss attributable to the San Francisco-based denim and sportswear firm rose to $14.4 million from $4.1 million in the year-ago period. Included in the bottom-line result was a $16.6 million pretax loss on the early extinguishment of debt. Operating income, exclusive of the debt effect, was up 23.4 percent to $69.2 million from $56.1 million a year ago.
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)