By  on February 11, 2014

Levi Strauss & Co.’s most profitable year since 2008 might have been even better if not for an “incredibly promotional” holiday season and a calendar that took a bite out of revenues and sharply reduced fourth-quarter earnings.

“I expected the quarter to be tough,” Chip Bergh, president and chief executive officer of Levi’s, told WWD, “but it turned out to be a bit tougher than I’d imagined. We’d already seen pre-holiday promotions kick in and it just kept getting worse as everyone struggled with declining traffic.”

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